Compass Is A Subsidiary Of The Spanish Mega Bank

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BBVA Compass is a subsidiary of the Spanish mega-bank, Banco Bilbao Vizcaya Argentaria, which is the second largest bank in Spain and operates out of over 30 countries. Having this powerful parent company is beneficial to BBVA Compass, especially because 49% of Banco Bilbao Vizcaya Argentaria’s revenue derives from the Americas (South America, Central America, and the US). Because of this, BBVA Compass is exceptionally vital to them. BBVA Compass is located in the Sunbelt States (TX, AL, AZ, CA, FL, CO, and NM), a region with a very high growth potential. Texas, accounting for 53% of their branches and 65% of their total deposits, is a central focus of BBVA Compass, along with other, smaller segments like Birmingham, Dallas, and Houston. Aside from geography, BBVA Compass focuses their marketing efforts on “strivers.” Individuals fitting this profile are between the ages of 25 and 54, have a household income of $75k or more, and have financial needs that extend beyond checking accounts. Targeting strivers allows BBVA Compass to cross-sell to their customers, increasing the customer lifetime value. This company has allocated around $11,638,093 for total marketing efforts in 2010. 79% of which is for offline marketing, while 21% is for online. This budget is a substantial decrease from the $50m they budgeted in 2009. Despite their tight finances, BBVA Compass hopes to use their offline marketing efforts to build their brand positioning and improve their consideration

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