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2011 University of Maryland Bateman Proposal
 

2011 University of Maryland Bateman Proposal

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    2011 University of Maryland Bateman Proposal 2011 University of Maryland Bateman Proposal Presentation Transcript

    • The Playmakers present A public relations campaign for Ally FinancialThe University of Maryland 2011 Bateman Competition
    • Table of Contents 1. Object of the Game 2. About the Board 3. Game Players 4. Game Preparation 5. How to Play 6. Game Play: Part I 7. Game Play: Part II 8. Game Play: Part III 9. Game Play: Part IV10. Winning
    • Object of the Game theme, our culminating event was a life-sizedWith the economic downturn expected to linger version of The Game of Life on our college campus.Executive Summaryfor several years, young adults should be eager This campaign illustrated our strategy to show We are The Playmakers, a group of select Public Meet Our Teamto take care of their finances. However, The young adults that learning to manage their money Relations students at the University of Maryland.Playmakers found that many young adults, can be engaging -- even fun!ages 18 to 28, are not. According to a 2008 Pew Meghan Burris The Playmakers:Research Center study, Americans save less than On the University of Maryland campus and at Chelsea Clark1 percent of their incomes, and the savings rate several other local venues, we mixed fun games, Amanda Fieldhas been in an almost continuous decline for more prizes, and Ally’s credit and budgeting training Devon Rosenberrythan two decades.1 When Ally Financial proposed modules to teach our contestants alluring lessons Grace Wahlbrinka challenge to develop a public relations program about managing their finances. Because ourto educate their publics about personal finances, events were successful, free, and convenient, the Susan Simon, Professional Advisorour team was more than ready to play the game. campaign we created, Maryland on the Money, Special Thanks to: Richard Toth, Faculty Advisor served as a great pilot that can be implemented at Dr. Leah Waks, Director of Undergraduate Studies,We wanted to develop an approach that was other schools and businesses around the country. Department of Communicationfun and creative, an idea that would actually Ioana Cionea, Graduate Advisor for Researchstimulate and motivate our publics to take action. Through Maryland on the Money, we were able toOur research indicated that young people, ages exceed our goals:18 to 28, needed our help the most and would • We reached 452 contestants at our events.respond best to information presented in quick, • We made 11,900 impressions through ourentertaining, and memorable ways. online resources. • Approximately 92 percent of post-testOur campaign, Maryland on the Money, showed survey respondents reported that theyyoung people that finances are not something to learned helpful information and will thinkfear. Instead, they can be approached more like more critically about their finances.a game -- the game of life! Our target publics arejust beginning the game of life, and we wanted to As a team, we are proud of the success wegive them the tools they will need to come out on accomplished through the Maryland on the Moneytop. We accomplished our goals by hosting eight campaign. We believe that we made a differenceinteractive training sessions based on popular in the attitudes and behaviors of young people in The Playmakers (from left) Chelsea Clark, Meghanboard games and TV shows. In keeping with the our community regarding financial responsibility. Burris, Grace Wahlbrink, Amanda Field, and Devon Rosenberry.1
    • About the BoardAlly Financial, originally known as GMAC, was Ally also faces possible trust issues with its publics would benefit the most from our educationalOrganization BackgroundGeneral Motor’s auto-financing arm, which because of the recent mortgage foreclosure crisis campaign. We chose the following definitionlaunched in 1919 as a service for car buyers. and the lack of trust in the financial industry. If to establish a clear understanding of what ourToday, Ally is a bank holding company that has Ally invests in a campaign to promote its financial audience needs to know:expanded its range of financial products. Ally literacy leadership and teaches its customersFinancial still encompasses GMAC and currently how to better manage their finances, we think theserves more than 15 million customers and auto public trust in the Ally brand would increase. Financial literacy is the ability to understanddealers.2 In 2010, Money Magazine named Ally money and how to manage it, so that you can makeFinancial “Best Savings Account” and Change Another major threat to Ally Financial’s financial decisions that will benefit you now andSciences Group named Ally “Top Financial SmartEdge program is the number of competing in the future. A financially literate person has theServices Website.” Ally Financial is also dedicated programs from other large, well-known financial ability to:to informing and educating its stakeholders on institutions and banks. These other financial • Save money for short- and long-term goalsfinancial responsibily through its SmartEdge literacy programs often focus their efforts on high • Manage financial risks3 • Use credit responsiblyfinancial literacy program. school students and low-income individuals. Based on our secondary research, we found that With the recent economic downturn and the rise young adults, ages 18 to 28, lack sufficient financialOne of Ally’s many strengths is the multitude in unemployment, we found that young adults education and the fundamentals of successfulAlly’s Strengths and Challengesof financial tools readily available online. Ally are searching for ways to increase their financial saving and budgeting. These trends, unchanged,provides live chat features and online modules to understanding. Therefore, because of the need will affect them negatively through increasedhelp teach financial literacy. Although Ally owns and demand among target publics, we believe debt, high interest rates or even bankruptcy.and distributes these modules freely, they are Ally has the opportunity to create a successful Maryland on the Money followed the Communitylocated on the GMAC website. financial literacy campaign geared toward young Reinvestment Act (CRA) requirements andThis creates confusion among adults, ages 18 to 28, who may reached our low- to moderate-income youngour publics because the modules not be a target of many other adults, who have the greatest need for financialare not branded as Ally products. financial literacy programs. education.Ally has not yet established aclear brand identity and mission, Because of a decline in traditional media, wewhich we think could improve its Our first step was to define believed a grassroots campaign was more likely to Our Campaign Plancompany culture and guide goals financial literacy and to change the attitudes and behaviors of our targetfor the financial literacy program. determine which audience publics. 2
    • Game Players financial health as “a little flabby” and 27 percentWe researched other financial literacy programs describe their financial health as “seriously outPublicsbefore determining which publics Ally and of shape.”5 To differentiate Ally’s program, weMaryland on the Money should target. decided to target college students and young adults, ages 18 to 28, entering the workforce.One of the largest non-profit financial literacy These individuals need financial resources theprograms is Jump$tart, an organization that most because they are moving toward financialfocuses on children in grades K through 12. Ally is independence.just one of more than a hundred national partnersworking with the Jump$tart program. Jump$tart,along with a majority of other financial literacyprograms, targets low-income individuals, The Playmakers found that the Millennial Target Public Breakdownincluding high school students and their parents.4 Berwyn Heights Volunteer Firefighters pose with Generation lacks knowledge about its personal the Maryland on the Money pledge banner and TheAccording to a study conducted by Charles finances, but sees value in becoming financially Playmakers at Finances in a Minute: Young AdultSchwab, 55 percent of young adults describe their literate. We chose to divide our target publics into Edition. the following segments: Primary Public: Low- to moderate-income young adults in the Maryland and Greater Washington, D.C., area, ages 18 to 28 • Young adults within the workforce • College juniors and seniors • Part-time students who work • Other students (underclassmen) Secondary Publics: • Recent UMD alumni Recent UMD graduates play Maryland Millionaires:Contestants reviewing the GMAC Workbooks dur- Alumni Edition to compete for raffle prizes anding Finances in a Minute: Student Edition. learn about credit and budgeting. 3
    • Game Preparation paycheck, according to a 2008 study by theBefore conducting primary research, The National Association of Retail CollectionSecondary ResearchPlaymakers conducted more secondary research Attorneys.7to better understand how young adults think • Young adults, ages 20 to 24, are the fastest-about their personal finances. growing segment for bankruptcy filings, followed by adults, ages 25 to 34, accordingAccording to a Charles Schwab study, young to the Youth Leadership Training Academy.8adults, ages 23 to 28, represent those who recentlyentered the workforce.5 After selecting our target publics, we conducted research to determine the most effective ways • 52 percent said they considered making to reach them. According to a 2010 Pew Study, better choices about managing money 90 percent of Millennials, ages 18 to 29, use the “the single most important issue facing Internet, and 75 percent use social networking Americans today.” sites. Additionally, one third have played a game, concluded the following: • 45 percent said they wished they knew watched a video online, or posted a message to an • Nearly 8 in 10 young adults manage their more about living within a budget before online profile in the last 24 hours.9 When planning own money. However, most of them were they entered the workforce. our strategies and tactics, we used these statistics only moderately confident about how to • 42 percent said they wished they knew to determine young adults’ information seeking handle their finances. more about the importance of saving before and entertainment habits. • Nearly 70 percent reported that they never they entered the workforce. made a monthly budget. • 27.5 percent said they sometimes made aOther research shows that even younger adults, The Playmakers conducted an online survey to monthly budget. Primary Researchages 18 to 24, face similar financial uncertainties. determine the specific needs and concerns of our • 89 percent reported that there were benefits publics. We sent the survey via e-mail to local to creating a monthly budget. • Many of the 11.5 million college students are universities, colleges and alumni groups in the still making financial decisions that affect area, and asked them to share the link to our survey The Playmakers decided to teach the budgeting their lives once they leave the classroom, with their listservs. We also created an event on and credit learning modules at our financial according to a Pew study in 2008.6 Facebook for the survey and invited young adults literacy training sessions after our survey • Thirty-one percent of the students said they who fit our demographics to participate. Based respondents showed the most interest in learning do not worry about debt because they can on our survey of 238 respondents from the about them. pay it off once they have a job and a regular Maryland and Greater Washington, D.C., area, we 4
    • How to Play Strategy: Present the information in fun, fast, and effort to promote positive credit and budgeting interactive ways that are easy to understand. habits.Game Plan Tactic: Adapt popular board games and game Strategy: Match Ally’s materials with our learning Goal #1: To increase the number shows to entice people to learn. sessions in a natural manner. of financially literate young adults in the Maryland and Greater Washington, D.C., area. Objective C: Host at least five financial • Use Ally’s SmartEdge workbooks for Tactics: literacy training sessions between Feb. 1 and information and to help teach the material. March 7, 2011. • Post Ally’s SmartEdge financial planningObjective A: Increase awareness of the importance modules on the Maryland on the Moneyof financial literacy among at least 300 people • Partner with local organizations on- and off- website, along with direct links to Ally. Strategies:using online resources between Feb. 1 and campus to reach a varied audience, within • Explain to participants, whenever necessary,March 7, 2011. our target publics. about Ally Financial and its efforts to teachStrategy: Use new media to create two-way • Use current networking relationships, such people how to manage their personalcommunication with our target publics. as connections with recent UMD graduates. finances. Considering our target publics, and game-themed • Spark conversations with the public via • Hold financial literacy training sessions at events, we used messages and slogans thatTactics: Tactics: Twitter updates. organization meetings with more than 50 promote the fun and interactive side of financial • Use a Facebook page to track fans, invite target members. literacy. people to events, and allow an open forum • Host a fun, interactive financial literacy for communication. training session at a high-traffic area on • Create a blog to report on credit and campus. • Knowing how to manage your finances is Key Messages budgeting news. essential to winning the game of life. • Use the blog to establish discussions with • Prepare for the future: start budgeting the public. now. • Create a website featuring the SmartEdge Goal #2: To ensure that Ally Financial is • Good credit equals a good life. financial literacy training modules, photos, considered a bank concerned with improving and links to the other social media sites. financial literacy. Share the Wealth SlogansObjective B: Educate at least 150 young adults at Champagne Tastes on a Beer Budget • live events between Feb. 1 and March 7, 2011, on Objective D: To inform at least 150 people Maryland Millionaires • the merits of understanding credit and budgeting. between Feb. 1 and March 7, 2011, about Ally’s Finances in a Minute • • 5
    • Game Play: Part I bought Starbucks coffee costs $7.99, which means posts featured advice from professionals, videos a home-brewed Starbucks coffee costs only $0.90! about budgeting and credit, and links to otherMedia Outreach and Promotional Materials This feature helped focus users’ spending and financial sites. savings habits. Campus Newspaper Opinion-Editorial: The Facebook: Our Maryland on the Money Facebook Playmakers promoted The Game of Life through page attracted fans and encouraged two-way a guest-column written by Playmaker Grace communication and feedback from our campaign Wahlbrink, and published it in the independently participants. The Playmakers promoted the owned and operated campus newspaper. The Budget Bus Stop Challenge and The Game of Life to opinion piece included information on the statusInteractive Website: Our team designed and Facebook fans. We also used Facebook to suggest of financial literacy for young adults, Ally’sused an interactive website to house and present helpful tips and redirect fans to our blog. dedication to teaching about credit and budgeting,all of the information and channels associated and The Game of Life event.with our financial literacy campaign. This onlineelement appealed to our publics and advanced Twitter: Our Maryland on the Money Pledge Banner: Our pledge banner asked youngfinancial literacy by offering several different Twitter account, @MDontheMoney, sparked adults to promise to be more financially conscioustools based on the SmartEdge materials. We conversations with young adults through as they moved toward the future. We took thedirected event participants to the website for hashtags and retweets. We used Twitter to banner to most of the training sessions and hadmore information about financial literacy and publish a finance-related Tip of the Day for 216 signatures. This banner served as a physicalresources Ally Financial provides, to prepare our followers and to post links to other blogs demonstration of the change in attitude towardthem for their future. The website included links and websites relating to personal finances. financial literacy.to Ally’s website, its financial literacy trainingmodules, and our social media sites. Our unique hashtag, #MDMoney, tracked conversations about our campaign and hashtagsOne of the most popular features, unique to our like #finances or #credit connected followers to Eventswebsite, was the Champagne Tastes on a Beer conversations already happening online. Let the Games Begin!Budget tab. This financial tool calculated different Date: Feb. 2savings in a practical way, relevant to our public’s The Playmakers kicked off the campaign duringlifestyle. An example from the tab: A basic Venti Blog: Our blog targeted young adults’ concerns the biggest sporting event of the semester! For the about personal finances and provided helpfulcoffee from Starbucks is $2.07. If you bought UMD vs. Duke Men’s Basketball Game, students resources. Each Playmaker alternated writing aone of these five times a week, it would cost you total of two or three blog posts per week. These lined up on the Maryland campus 12 hours before$538.20 per year! However, one bag of store- the evening game. We used this opportunity at 6
    • Game Play: Part IIthe biggest rivalry of the year to distribute fliers spread the word about the Maryland on the Moneybranded with Ally’s logo, promoting our financial campaign by handing out Ally-branded fact sheets,literacy campaign and social media resources to workbooks and social media resources. We alsostudents. As an added bonus, Internships.com enticed young professionals with an opportunitydonated coupons that could be redeemed if UMD to win a Starbucks gift card by playing a quickbeat Duke. guessing game about the standing of our country’s present economy.Young Alumni Financial Planning WorkshopDate: Feb. 8 Budget Bus Stop ChallengeContestants Reached: 40 young adults Dates: Feb. 9, 16 and 23To reach young professionals, The Playmakers Contestants Reached: 120 students and young adultsteamed up with the UMD Alumni Association on The Playmakers partnered with the University of Grace Wahlbrink quizzes a contestant at Budgetcampus to establish a presence at a Young Alumni Maryland Department of Transportation Services Bus Stop Challenge!Financial Planning Workshop. All 40 attendees to reach busy, on-the-go target publics duringhad graduated within the past six years, making their commutes to and from campus. We stationed Finances in a Minutethem perfect candidates for our campaign. We ourselves at four bus stops that have stops both Dates: Feb. 16 and 20 on- and off-campus. Contestants Reached: 58 students and 17 young firefighters and emergency personnel While at the bus stops, we passed out The popular TV Show Minute to Win it was the questionnaires to test participant’s financial perfect way to show college students and young knowledge, as a spin-off of the popular TV show adults how to monitor their finances. The student Cash Cab. The University marketing department edition of Finances in a Minute event was held donated T-shirts as prizes for the top five most on the University of Maryland campus at the financially literate contestants each week. This beginning of the National Society of Collegiate event also served as an opportunity to hand Scholars’ regular meeting on Feb. 16. The young out materials that would lead contestants to adult edition was held later that week at Berwyn our website and social media sites, as well as to Heights Volunteer Fire Department on Feb. 20. distribute questionnaire pencils imprinted with the name of our campaign and Ally Financial, plus At both events, The Playmakers stressed theChelsea Clark distributes fliers and coupons to the URL of our website. importance of financial literacy, especiallyMaryland fans waiting for the UMD vs. Duke Men’sBasketball Game. 7
    • Game Play: Part IIIin today’s economy. We divided contestants The Playmakers kicked off the event with ainto groups and gave them time to review the PowerPoint presentation that focused on howSmartEdge workbooks. Then, we handed out a full to use credit and budget responsibly. After thepage of questions and gave the groups one minute presentation, we divided the contestants intoto answer as many questions as possible, just as teams of two, to compete for a chance to win onein the TV show. The team that answered the most of our prizes ranging from T-shirts to a FlipCam.questions correctly won and received a donated We asked the teams nine questions that movedgift card to Starbucks. We took this opportunity them closer to becoming Maryland Millionaires.to demonstrate which areas people need the most At each “safe zone,” located after every thirdhelp and encouraged them to come to The Game question, we entered teams into raffles. Theof Life event. winning team was entered into all raffles and took home Maryland T-shirts. Maryland Millionaires was a fun, interactive way to think about finances. It also served as a successful training session onMaryland Millionaires financial literacy.Dates: Feb. 21 and 24 Meghan Burris trains contestants on credit respon- sibility at Maryland Millionaires: Student Edition.Contestants Reached: 14 students and 9 young alumniThe Playmakers planned two financial literacyevents modeled after the classic game show Who Money Smart TerpsWants to be a Millionaire. First, we reached out to Dates: Feb. 21 and 28a local college campus, The Universities at Shady Contestants Reached: 84 sorority membersGrove, which attracts commuter students with To gain the support of the Greek Community onfull- or part-time jobs. Many of these students campus, our team went to four sororities’ chapterare financially independent, but still need meetings to promote our culminating event andfinancial education. We held the second Maryland give them a chance to roll the dice. At the meetings,Millionaires event at Environics Communications we gave a short presentation on Maryland on thein Washington, D.C., for a group of recent University Money, credit and budgeting tips, and informationof Maryland alumni. This event doubled as a about The Game of Life event. In addition, wenetworking opportunity where participants sent our information out to about 3,500 studentscould reconnect with one another and build their via the sororities’ and fraternities’ listservs to Univeristy of Maryland Communication Alumnifinancial knowledge. promote the campaign and events. make use of their GMAC Workbooks during Mary- land Millionaires: Alumni Edition! 8
    • Game Play: Part IV education or go straight to the workforce. Each participant received a different job title and salary based on his or her assigned education level. They had to use their assigned salary to create a monthly budget and pay their bills, as in the classic board game. Throughout the game, we gave contestants options and they had to choose whether to make financially sound decisions or chance it all. The winners, students who ended the month debt-free, were eligible for an exclusive, second FlipCam raffle. Another activity at the event was a Spin to Win game. Our team created a giant spinner and asked contestants a financial question from the SmartEdge workbooks. If contestants answeredOne contestant rolls the dice to determine her fate Contestants enter their names into various rafflesin The Game of Life. correctly, we gave them the chance to spin the wheel to enter different raffles for our donated after playing our Spin to Win game. prizes. The number the wheel landed onThe Game of Life determined the number of tickets each contestantDate: March 2 would receive for the raffles.Contestants Reached: 113 studentsWe held our culminating event on the University ofMaryland campus, employing a hand-crafted, life- With this event alone, we reached 113 students,sized board game to test contestants’ budgeting more than 75 percent of our total target for theskills and financial knowledge. Our version of The month-long campaign.Game of Life simulated living on a budget for onemonth. We mapped out a giant board game inthe center of campus, where contestants movedacross the board and encountered different real- Part of our life-size The Game of Life board!life scenarios young adults might face after theyenter the workforce. Contestants rolled thedice to determine if they would receive a college The Playmakers at The Game of Life, with our Spin to Win game! 9
    • Winning Objective B: Exceeded! The Maryland on positive credit and budgeting habits. We informedMaryland on the Money was a winning campaign. the Money campaign tripled this objective by at least 452 young adults about Ally’s role inEvaluationThe Playmakers engaged the target publics and educating 452 young adults. the campaign. Information from the SmartEdgeprovided essential tools for them to play in the workbooks played an integral part in each trainingfinancial game of life. We surpassed our campaign Our post-test survey results from the Maryland on session. We featured the Ally logo on the pledgeobjectives by increasing financial awareness and the Money is as follows: banner and campaign fliers. Pages that featurededucation of hundreds of young adults in the • 100 percent of contestants from the information from Ally’s financial literacy modulesMaryland and Greater Washington, D.C., area. Maryland Millionaires events revealed that ranked sixth most popular of all 120 pages on the they would think more critically about their Maryland on the Money website.Objective A: Exceeded! The Playmakers reached financial decisions in the future.out to far more than 300 young adults through a • 84 percent of contestants in The Game ofcombination of engaging and online resources. Life said they learned helpful information. Maryland on the Money served as a successful Conclusion • 76.5 percent said they are interested in pilot campaign to promote Ally’s financial literacy • In total, our Maryland on the Money social learning more about managing their own materials to young adults. The training sessions media sites received at least 11,900 finances. we developed during our public relations program impressions. demonstrated the importance of financial • The Facebook page alone reached more Objective C: Exceeded! The Playmakers responsibility to young adults while also drawing than half of our target with 185 fans and coordinated eight financial literacy training on the entertainment value of popular games. more than 3,000 post views. sessions for our target publics and various other • Our Twitter, @MDontheMoney, had 51 promotional events both online and off. We made Based on the attractiveness of our games and the followers by the end of the implementation financial education convenient by meeting young positive feedback from contestants, we believe phase and at least 10 unique mentions. adults where they already were -- in the business that the training sessions and interactive games • Our website receieved 1,225 unique visits district of Washington, D.C., at university bus stops, during the Maryland on the Money campaign can and 5,145 page hits during February. and at workshops and meetings. By partnering easily be adapted for other locations nationwide. • The Wordpress blog receieved 546 all-time with other organizations, The Playmakers were views and 23 original comments. able to extend the number and reach of financial Feedback and results from Maryland on the Money literacy events far beyond the original resources show The Playmakers were very successful withIn addition to the statistics above, the Bateman of our team. the campaign. We enjoyed working with the Allyopinion piece published in the campus newspaper brand and hope that Maryland on the Money isThe Diamondback, was also featured online and Objective D: Exceeded! The Maryland on the able to grow and thrive as part of the overall Allyreached a potential readership of 14,000 students, Money campaign tripled the objective to inform financial literacy program.faculty and administrators. target publics about Ally’s effort to promote 10
    • AppendixSWOT Analysis.....................................................................1 Website Screenshots.....................................................22Executive Summary Implementation Facebook Screenshots..................................................26 Twitter Screenshots......................................................31IRB Application....................................................................2 Blog Screenshots............................................................34ResearchRecruitment Email.............................................................8 Diamondback Opinion-Editorial..............................41Questionnaire......................................................................9 Pledge Banner..................................................................42Short Answer Questions...............................................12 Internships.com Coupon.............................................43Secondary Research References...............................17 Fast Fact Tip Sheet (Full)............................................44 Fast Fact Tip Sheet (Quarter)....................................45 Budget Bus Stop Challenge Flyer..............................46Solicitation Letter............................................................18 Budget Bus Stop Challenge Questions...................47Planning The Playmakers pass out fliers at the Duke game.Budget..................................................................................19 Budget Bus Stop Challenge Cards............................48 Testimonials................................................................100Timeline..............................................................................20 Finances in a Minute Questionnaire.......................49 Website Statistics......................................................101Event Details.....................................................................21 Panhellenic Association Email.................................50 Facebook Statistics...................................................103 Maryland Millionaire: Student Edition Flyer.......51 Blog Statistics.............................................................111 Maryland on the Money Presentation...................52 Maryland Millionaires Presentation......................56 The Game of Life Flyer..................................................60 Interfraternity Council Email...................................61 The Game of Life Posters.............................................62 The Game of Life Volunteer Directions.................64 The Game of Life Volunteer Charts.........................66 Maryland on the Money Event Sign In...................74 Post-Test Survey............................................................97Students at The Game of LIFE sign our pledge ban- Evaluation Post-Test Survey Analysis.........................................98ner, answer financial questions and enter to winraffle prizes. “Hey, Recession. Fear the Turtle” on a campus bus.1 2 3 4 5 6 7 8 9 10