Wells Presentation


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This is presentation of an advertising campaign idea put together by a team, myself included. The goal of the campaign was to generate 2,000 incremental accounts.

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Wells Presentation

  1. 1. “The beauty of marketing”
  2. 2. GENERAL OVERVIEW  Bring in 2,000 incremental checking accounts  People generally don’t like banks  Wells Fargo, while conservative doesn’t have a super positive image   Bank of America has especially bad image now   $5 fee for using debit card   Chase and others have better offers   Free checking   iPod giveaways  Wells Fargo has done way better during these hard financial times when compared to the competition
  3. 3. CAMPAIGN OBJECTIVES  Increase overall awareness of the Wells Fargo college checking accounts  Increase sales of all of Wells Fargo accounts  Increase brand recognition   Create awareness in parents of high school seniors that are looking to open an account for their student.   Traffic into Wells Fargo branches should increase during the months of the campaign   Time of year when most students are signing up for their first real checking account  Increasing awareness of the college checking account is done through our entire advertising campaign and our promotional activities.   financial seminars that will be given across Colorado at the local high schools   Give parents and students financial tips for college   Help improve the image of Wells Fargo and help push them towards Wells Fargo due simply to familiarity  The large overall goal of the campaign is to bring in 2,000 incremental checking accounts.
  4. 4. CAMPAIGN OBJECTIVES  Increase sales of their other products simply because the parents are in the branch  Create a life time customer in the student and parent if they aren’t already   High quality service and great customer service.   Not the main objective of the campaign   More products from these students as time progresses.  Increase brand recognition and help create a better image   Important for banks at this time.   People don’t trust banks and currently don’t have a very good view of them   Create leverage against competition
  5. 5. WELLS FARGO TARGET MARKET ANALYSIS•  Incoming college freshman in Colorado •  Market primarily to their parents, then directly to the students because the parents generally still have such a strong influence on their kids •  In particular, we will market to those with freshmen going to Colorado colleges. •  UNC •  CSU •  CU •  Metro •  Etc. •  Usually 17-18 years old
  6. 6. OUR TARGET MARKET  Parents of high school seniors   Ranging from late 30’s to late 50’s   Want to see their child succeed   Financially   Studies   Range all income levels   Everyone is going to college these days with loans and grants
  7. 7. SWOT ANALYSIS  Strengths:   Offer many service   Large amount of assets   Many locations   Many ATMs   Friendly staff   Well established brand
  8. 8. SWOT ANALYSIS  Weaknesses:   Large customer base (No personal relationships)   High fees   Bad image as a large bank   Don’t reach some big market segments   Not all locations can do everything
  9. 9. SWOT ANALYSIS  Opportunities:   Use there well established brand to capture younger market   Leverage the fact that they can offer more services than other banks   Show that they have the best customer service and friendly staff   Leverage the fact that they have so many ATMs and locations that people do not have to travel far, especially college students   Show how they fared better against other banks through this economic crisis
  10. 10. SWOT ANALYSIS  Threats:   Smaller banks can have better personal relationships with customers   Other banks are focusing on free services   Can’t offer large giveaways like other banks can   Some locations can’t do everything maybe driving customer to a bank that is closer   Seen as “my parents bank” and would switch to a “younger” looking bank   Not as many high tech services like other banks
  11. 11. STRATEGIES  Financial seminars at high schools  Advertise:   Good Housekeeping   Newspapers  Promote through Facebook.  Our tagline:   “Here for them even when you’re not ”.   We want the parents to know that their children are going to be in good hands when it comes to banking.   WOM among satisfied customers   Free & highly effective  Incentives:   2-for-1 ski pass deal   Financial calendar
  14. 14. STRATEGIES  Reach the maximum number of potential customers with our budget   Consumer’s evoked set  Start our campaign in February   Students are applying for colleges   Looking to get ready for college   Buying dorm supplies   Setting up accounts
  15. 15. STRATEGIES  9 areas of Colorado that produce the largest amount of instate college students:   Boulder   Centennial   Colorado Springs   Fort Collins   Greeley   Highlands Ranch   Lakewood   Littleton   Parker.  300 high schools across Colorado   Large high schools in those areas  Send Wells Fargo representative to local high schools with branch in the same city   161 branches across Colorado   Only go 20 miles outside city limits to schools that don’t have a Wells Fargo branch in city limits
  16. 16. STRATEGIES  Financial seminar  Open to the parents and students (seniors)   Enlighten them to the Wells Fargo College checking account   Other topics   Credit card debt   Student loans   Identity theft   Q&A   NOT A SALES PITCH!
  17. 17. ADVERTISING  Facebook   Fastest growing group of Facebook users   High school seniors are the largest group of Facebook users   A place for information  Good Housekeeping   Large distribution in Colorado   239,500   Targeted towards parents especially towards moms   Moms tend to be the parent that helps the student set up the account  Newspapers   Still being read by our target audience   Steady message over 6 months all across Colorado
  18. 18. EVALUATION  Good Housekeeping   Cost per thousand   Page rate/(Circulation ÷ 1,000)= CPM   $10,095/(239,500 ÷ 1,000)=$42 CPM  Number of times our ads will be seen   Greeley Tribune 1,536,000   Fort Collins Coloradoan 1,800,000   Denver Post 64,656,000   Grand Junction Daily Sentinel 2,028,000   Boulder Daily Camera 2,106,000   Good Housekeeping 239,500  3 3x4 ads run per week in 5 different papers which adds up to 366 ads over 6 months. Circulation:   Greeley Tribune 20,000 Daily & 22,000 Sunday   Denver Post 694,000 Daily & 1,000,000 Sunday   Grand Junction Daily Sentinel 26,500 Daily & 29,000 Sunday   Boulder Daily Camera 27,000 Daily & 30,000 Sunday
  19. 19. BUDGET  Newspaper ads   3 3x4 ads run per week in 5 different papers at $11 per column inch, 366 ads over 6 months.   $9,504 per paper for a grand total of $47,520  Facebook   Swift Digital Facebook management   Design of new college checking account Facebook page   Premium design package   $1,250   Facebook monthly management   Platinum management package   $850 per month for 6 months   $5,100 for 6 months
  20. 20. BUDGET  Magazine ads   Good Housekeeping   5th most popular magazine in U.S.   1/3 page 2 color   Regionally distributed   Colorado-239,500 copies   $10,095  Financial calendars   Zazzle.com   $9 per customized calendar   4,003calendars   $36,027
  21. 21. BUDGET  $100,000 budget   Newspaper ads $47,520   Facebook design $1,250   Facebook management $5,100   Good Housekeeping ad $10,095   Financial calendars $36,027   Grand total $99,992