Wells Fargo isn’t giving in to evangelist Franklin Graham, who objects to this ad.
Over the weekend, Graham threatened to move his operation’s banking from Wells Fargo, encouraging other Christians to do the same.
But Wells Fargo is unmoved by Graham.
“The coverage to date has been overwhelmingly positive,” Valerie Williams, a Wells Fargo vice president and communications consultant, tells CNBC. “It exceeded our expectations. We weren’t naïve in terms of what to anticipate in terms of response.”
Wells Fargo has a history of supporting LGBT rights.
It’s also good business, one marketing expert says.
“From a cultural standpoint in our country right now, LGBT-inclusive everything is becoming more the norm and the expectation as opposed to the opposite point of view,” said Andy Bagnall, a vice president at marketing agency Prime Access. “You have the popular opinion in terms of what’s happening culturally in this company. The smart advertisers right now are at the forefront of that curve.”
That could cut both ways.
“The bank that takes this account will be in a higher visibility position because you’re going to ask them, ‘What do you think of that ad?’ … And they will face some potential reputation risk,” Ken Thomas, a banking consultant tells the Charlotte Observer.
(update 3:40 p.m. – Graham moved the money to an LGBT-friendly bank)