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  • 1. “Your New Piggy Bank” CampaignBy: Meredith Horrigan, Samantha Manzuk, and Jaclyn Parker COM 360, Section 1 Fall ‘11 Professor Yung-I Liu  Page 1
  • 2. Table of ContentsExecutive Summary……………………………………………………………………………….3Company Analysis…………………………………………………………………………………3Competitive Analysis…………………………………………………………………………….4Consumer Analysis………………………………………………………………………………..5Goals and Objectives…………………………………………………………………………….6Strategies and Tactics…………………………………………………………………………….6Media StrategiesBudgetEvaluationReferencesAppendix  Page 2
  • 3. Executive Summary The following brief will introduce to you the services of Huntington Bank; it will provide you witha company history and company analysis, discussing Huntington Bank’s services and brand. This will leadinto a competitive analysis of other banks and their services and brand, compared to Huntington Bank’s.Following these two analyses will be a customer analysis, containing our target audience and the targetaudience profile. Once this research and insight has been established, the brief will proceed into thegoals and objectives that we hope to accomplish with our financial program and advertising campaign.Following the goals and objectives portion will be the strategies and tactics we will use to implement theadvertising campaign. These tactics will lead us into the media strategies and budget that will supportour campaign. Finally we will discuss how to evaluate our campaign, and the campaign’s effectiveness.Our campaign will focus on Huntington Bank as a helping hand, an extended member of the family,there during times of change. We will specifically be focusing on the need of aid during the collegeyears; a need by the parents and the students, with the creation and implementation of a collegestudent banking service.Company AnalysisCompany History The Huntington National Bank is a subsidiary of Huntington Bancshares Incorporated, which isone of the 40 largest multibank holding companies in the United States. The Huntington National Bank isa regional bank, with headquarters in Columbus, Ohio, that provides financial banking services in theStates of Ohio, West Virginia, Pennsylvania, Kentucky, Indiana, and Michigan. Huntington providespersonal banking through their 600 local branches, 1,300 ATMs and online and mobile banking. Theyprovide financial services to individuals and families, small businesses, nonprofit organizations, andother specialty services. Huntington has also established itself as a member of the community. In 2009,alone, The Huntington National Bank invested $100 million into revitalizing neighborhoods within theirregions, gave more than $700 million in loans to small businesses, and employees dedicated more than13,000 hours of volunteer time to nonprofit organizations in their communities.S.W.O.T. Analysis The S.W.O.T. analysis describes the strengths, weaknesses, opportunities, and threats of aparticular company. The S.W.O.T. analysis for The Huntington National Bank is as follows:StrengthsThe Huntington National Bank operates in the Midwest United States, specifically in the states of Ohio,Pennsylvania, Indiana, Michigan Kentucky, and West Virginia. Since Huntington is so geographicallyspecific, it is able to focus on the needs and concerns of its customers at a grass-roots level. Huntingtonis also deeply involved in the community, with the investment of millions of dollars and thousands of  Page 3
  • 4. hours of volunteering into the communities in which it is located. This gives Huntington a positive brandposition, in the eyes of the consumers, to build off of. A third strength of Huntington Bank is that itprovides a variety of financial products and services, as well as loans.WeaknessesAlthough Huntington Bank prides itself on being a member of the community it is in, it does not targetnew consumers, rather it focuses on the consumers it already has. Another weakness of HuntingtonBank is that, although they offer a variety of types of loans, and financial services and products, theyhave not tapped into the market of young, college age students, opening checking and savings accountsfor the first time, which is limiting their consumer base.OpportunitiesThe weakness stated above, however, may lead to an opportunity for The Huntington National Bank.Since most banks, including Huntington, do not have any specific financial programs and services thattarget the young, college age, fist time banker market, Huntington has to opportunity to be the firstbank to tap this market.ThreatsHowever, threats are also posed to The Huntington National Bank’s hold in the banking market. Otherregional banks, such as Key Bank and PNC Bank are in constant competition with Huntington Bank forthe largest market share and consumer base. PNC Bank poses the biggest threat to Huntington Bank,especially in combating Huntington Bank’s opportunities stated above. PNC Bank is such a threatbecause they have resources such as the virtual wallet, and online checkbook management available toall of their customers. These services are such a threat because similar services are necessary to tap intothe new market of young, college age, first time bankers, and PNC Bank has already established andbegun to perfect these services.Brand Analysis Referencing two parts of The Huntington National Bank’s mission statement, it states thatHuntington Bank will win with their customers by creating a superior experience in their customers’local markets, as well as win with their communities by continuing their history of local involvement,philanthropy, and leadership where they live and work. Through their mission statement, financialsupport, and local community involvement, consumers have come to see The Huntington National Bankas a member of the community and of the family. Huntington has gained and established brand equityon this “community member” image.Competitive Analysis As we stated in the threats portion of the S.W.O.T. analysis, PNC Bank is Huntington’s biggestthreat. Huntington’s new financial program must go above and beyond that of PNC Bank’s services;specifically their virtual wallet, and online checkbook balancing. Although PNC Bank is Huntington’s  Page 4
  • 5. biggest competitor, because of its recognizable services, all banks located and operating in the areasthat Huntington is located and operating are also major competitors. Likewise, even small, local,community banks in Huntington’s areas are a source of competition, because of Huntington Bank’sbrand positioning as that of a concerned, committed member of the local community. These locallyowned banks will have a long standing tradition with families in those communities, which is also thegoal of The Huntington National Bank branches. Since this program and campaign are so involved, andpart of an untapped market, Huntington Bank will be targeting brand switchers, which means thatopposition and new services by customers’ previous banks are to be expected. However, because of thedetailed nature of the services to be provided, Huntington will have the advantage of having theprogram solidified and functional before any other banks.Consumer Analysis The Huntington National Bank currently maintains a consumer base of a variety of generalbankers, ranging in ages from 18 years old to retirement age. Huntington also focuses on the needs ofdifferent types of consumers, with products and services within the automobile industry, nonprofitorganizations, small business and more. However, there are no products or services that deal with firsttime bankers who are in college and learning to manage money on their own. This is our targetaudience. To break it down even further, we will be targeting males and females, living in and/orattending college in the same geographic region that The Huntington National Bank is located, aged 17-25 years of age, and enrolled in college.The members of this audience are avid social media users, andcrave independence from their parents. There is a slight majority of females in this audience, since morefemales are attending college; more than before, and now more than males.We are also targeting theparents of these young adults.They are brand switchers, craving ease of mind about their child’sfinancial future. We will further break down the student audience into the Upperclassmen and theCollege Student.Target Market SegmentsUpperclassmen The Upperclassmen is a high school student, about to graduate high school and attend college,and have held some type of part-time job. This will be the first time they are away from home, but theyare slowly gaining independence from their parents, their parents are still making or helping them makefinancial decisions.College Students The female college student is studious, family-oriented, responsible, and has a plan for thefuture. She will enjoy the student loans, virtual wallet, mobile app, advisor, and the ability to buildcredit safely.  Page 5
  • 6. The male college student sees himself as invincible. He craves independence from his parents.He is stubborn, but will seek help on his own, and he is more concerned with the short term. He willreceive the most out of the advisor, overdraft protection, the mobile app, and the virtual wallet.Parents This is most likely their first child going off to college. They want better for their children andhave made all of the financial decisions for their child so far. They are heavy researchers, looking for thebest deal and the lowest rate. They are trying to let their child establish independence and they mayalso be paying some, if not all of their child’s way through school. They will be most interested in theloans and interest rates, as well as the advisor.Goals and Objectives The goal of this campaign is to not only to design and implement a program that educates,protects, and provides for college students, but to encourage brand switchers with our media campaign“your new piggy bank”. In terms of the financial program our goal is to provide college students who arefirst time bankers the chance to build credit and plan for their future in an educational and lenientenvironment. We want to offer more opportunities to attend college through our loan system, thechance to build credit with our tiered limit program, as well as low interest rates and overdraftprotection. We also want to provide students with the independence they crave, while providingparents with a reliable resource in order to teach their children to manage their money. The goal of themedia campaign is to stand out due to its simplicity and emotional appeals, but to also inspire brandswitchers to research and experience the program that The Huntington National Bank has to offer.Strategies and Tactics Our first strategy is the design of the “new piggy bank” program. It is a three stage program,designed to guide first time, college bankers through money management and smart spendingtechniques. The program will consist of Huntington classics such as Asterisk Free Checking, 24-HourGrace Period, and no charge for using another bank’s ATM. However, this program will be much moreinvolved, and much more tailored towards a first time banker. In order to encourage education for theircommunity’s residents, the program is only available to college students; proof of enrollment must beprovided in order to sign up for the program. The program consists of three stages, each one decreasingin required assistance.Stage OneThe first stage consists of all of the facets of this new program. First, the student is assigned an advisor,much like they would find in school in order to track their academic progress. This advisor will beavailable through an IM system on the Huntington Bank mobile app. The advisor is available for anybanking questions, as well as offering suggestions for the best course of action, financially, the student  Page 6
  • 7. should take. Student loans can be acquired within this program, with a 4% interest rate. Students mayalso begin to establish credit with our lowest tier credit card. This card will be equipped with the lowestlimit possible, as well as a low interest rate. In this stage students will not be penalized for using anotherbank’s ATM on campus, and the mobile app with a virtual checkbook will be available.Stage Two In this stage the student begins to gain freedom within the program. At this stage the advisor isoptional, but still available via the mobile app. Student loans are still available, and at the 4% interestrate. The second credit card tier is available in this stage. This means that the student now has a higherlimit, but with the same low interest rate. This is also the introduction of the points system. Whenstudents make purchases with their credit card they will receive points that can be redeemed fortextbooks and other school supplies. Students are still not penalized for using other bank’s ATMs andthe mobile app is still accessible.Stage Three This is the final stage of the program, and offers the most freedom. Students no longer have anadvisor at this stage. This is also the introduction of the third tier of credit cards. Students may nowdetermine their own limit with a higher interest rate than before. Loans are available in the third stageas well as the mobile app and the use of other bank’s ATMs. In this stage the point system also turnsinto a cash back system; instead of redeeming points on school supplies, the banker can now receivecash back on purchases.Marketing Communication Strategy The Huntington National Bank will introduce and promote the “new piggy bank” programthrough the use of bulletin board ads near major college campuses in the Midwest United States, ads innewspapers and magazines, as well as radio and TV commercials and a few internet ads. Huntington willalso promote this program at vendor tables during college fairs.Creative Strategy Our media campaign will incorporate the current Huntington slogan of “Welcome.” into the“new piggy bank” student program. The tagline for the campaign will be “Welcome to your new piggybank”. The tagline is meant to incur nostalgic thoughts as well as provoke thoughts of the future, so thatHuntington will be with you from now on. The campaign will also feature Huntington’s new signaturegreen piggy bank.  Page 7
  • 8. Creative Objectives With our piggy bank campaign, we aspire to identify with the students’ desire to becomeindependent members of the community, as well as with the parents’ desire to provide for and guidetheir children. We aim to appeal to the emotional aspect of leaving for college or having a child leave forcollege and be off on their own. Also, since Huntington has a reputation as a member of the community,or even the family, we will incorporate, in the emotional appeal, a sense of nostalgia and comfort.Creative ElementsBillboardPrint AdsRadio/TV Commercials The commercials will be the same script for both the radio and the TV commercials. They will be in a Film Noir style of dialogue and in the TV commercial appearance as well. This will capture consumers’ attention visually and/or audibly due to its difference from the media surrounding it. The commercial will most often feature a male voice, consistent with film noir, but may also be adapted with a female voice and experience. The commercial will consist of background music, as well as, in the case of TV, black and white images. The script will deal with the need to solve a case, consisting of college problems, to be relatable by students. The commercial will use humor to further stand out, in order to be in the consumer’s mind. Each ad will urge potential consumers to act, instead of just keep Huntington in their top choices. Internet Ads  Page 8
  • 9. Commercial Script[Dark, film noir music playing] Male Announcer: I was working on a new case: The Unpaid Tuition The tuition was high, but the cash in my pocket was low Questions poured down like the rain: How was I going to pay for school? What was I going to eat? And then she walked in… told me to invest my piggy bank into Huntington Bank Told me about Asterisk Free Checking, 24-hour grace periods, and the freedom to use any bank’s ATMs[Change tone of voice to sarcastic child] And then she started lecturing me about how it’ll help me be more responsible, and how I can get cash back on my everyday purchases, and to come home every weekend…. I hate it when moms are right It’s a good thing I’ve got an app that I can use to talk to a Huntington advisor who works specifically for college students[Film Noir voicing again] The Unpaid Tuition: Case Closed[Music stops]Other Announcer: Huntington Bank. Welcome, to your new piggy bank.  Page 9
  • 10. Media Strategy In order to reach our target audience, we want to exhaust as many media avenues as possible toguarantee that each segment of our target audience is exposed to the message. This will require theplacement of ads in magazines and newspapers, radio and television commercials, a few internet ads,tables at college career fairs, and finally billboards near major college campuses in the states thatHuntington Bank resides in.Media Objectives As stated earlier, our objective for our media campaign is the reach our target audience ofUpperclassmen, College Students, and Parents. Our goal is to encourage brand switching, as well aspromote the individuality factor of this financial program. Also, although parents are a member of ourtarget audience, our objective is to get students to begin thinking about their future and want to chooseHuntington as their bank because of this program. We want to encourage the students to pursue thisdecision themselves. Likewise, although we want to break ground on this new financial market, we areaware that many times the parents are the ones making the financial decisions. Therefore, we want topromote the idea that Huntington is there to help, the way a parent would, and that parents who wanttheir child to succeed should enroll them into an account at Huntington Bank.Media TacticsOur print ads will be placed in the following mediums: Seventeen Magazine Cosmopolitan Magazine Local newspapers (i.e. The Plain Dealer) Better Homes and Gardens MagazineThe radio commercials will air on stations similar to the Cleveland area stations: 96.5 Kiss FM 104.1 Q104 92.3 The Fan 102.1 WDOK 95.5 The Fish 106.5 The LakeThe internet ads will appear on sites such as: Facebook Online News Sites  Page 10
  • 11. College SitesThe TV commercials will air on shows such as: How I Met Your Mother Desperate Housewives News Channels Pretty Little Liars The Lying GameThe billboard ads will appear near major college campuses such as: The Ohio State University The University of Michigan Pennsylvania State University Purdue West Virginia University University of KentuckyMedia Calendar Our entire campaign will be on a pulsing strategy. We will have advertisements periodically allyear, but increase in type and frequency during peak times, specifically the months for April toSeptember. The increase will occur during these months because it is when high school seniors aregraduating and beginning to think about starting college. Likewise, it occurs in the first two months ofschool and therefore targets current students who are beginning to think about the financial aspect ofthe next semester, term, or year. Billboards will be bought on a monthly basis during college visitmonths, so that potential consumers may see them on the way to a visit at a major college. These visits,although available all year round, are usually done between the months of October and February,depending on what year of school the high school student is in. However, the billboards are the onlyadvertisement that is an exception to the peak time frame of April to September.BudgetThe following table shows a breakdown of the type of budget needed to implement this campaign. Thetotal cost ends up equaling $2,495,537 in one year. However, that is also for a campaign that needsawareness on top of general advertising, so the effort is much greater. Also, the information below areapproximations, and may vary especially in the instance of the magazines. The amounts on the pie chartare dollar amounts.  Page 11
  • 12. Magazines/ Billboards, 527,785 Newspapers, 2,344 Radio, 4,200 TV, 1,961,208Evaluation In order to evaluate the campaign, we must first launch it. Since Huntington Bank will be thefirst bank to have a program such as this it will be easy to measure the effectiveness of the messagesimply by seeing how many customers come for the piggy bank program. Once the program is in action,we can then again look at the needs of advertisements, and how often they need to be produced andshown. One important thing to not is that not only does the campaign need a solid message, but theprogram needs to be implemented with the least amount of glitches possible. Finally, we need to keepopen lines of communication with our customers in order to better the program and the campaign, andcreate what they want.  Page 12
  • 13. ReferencesCrupi, Anthony. "Average Cost of a Prime-Time Television Spot Now $110,000 | Adweek."Adweek –Breaking News in Advertising, Media and Technology. Web. 08 Dec. 2011.<http://www.adweek.com/news/television/their-prime-broadcast-spot-costs-soar-132805>"Huntington Bancshares Inc. -- Company History." Find Funding with Banks, Investors, and Other FundingSources | FundingUniverse. Web. 08 Dec. 2011. <http://www.fundinguniverse.com/company-histories/Huntington-Bancshares-Inc-Company-History.html>."Magazine Advertising Rates." Sheltie Pacesetter Home Page. Web. 08 Dec. 2011.<http://www.sheltie.com/magrates.htm>."Miboso Radio Advertising Rates." Miboso Radio. Web. 08 Dec. 2011.<http://www.mibosoradio.com/radio_advertisers.htm>.Retrieved December 8, 2011, Website: https://www.huntington.com/us/HNB3110.htmRetrieved December 8, 2011, Website: https://www.huntington.com/us/mission_values.htm  Page 13
  • 14. AppendixThe following is the PowerPoint presentation in outline format:  Your New Piggy Bank  Meredith Horrigan, Samantha Manzuk  Background Information  The Huntington National Bank  Subsidiary of Huntington Bancshares Inc.  One of 40 largest multibank holding companies in U.S.  Provides banking services in Ohio, Pennsylvania, West Virginia, Indiana, Michigan and Kentucky  Invested $100 million to revitalize neighborhoods it was located in, $700 million in loans to small businesses, and 13,000 volunteer hours by employees in 2009.  SWOT Analysis  Strengths: Small geographical market to focus on, Positive brand image  Weaknesses: Does not target new consumers, have not tapped the student banker market  Opportunities: Most banks have no programs to young, college students, so they can be the first  Threats: Other regional banks (Key, PNC), PNCs ease of banking to compete with  Brand Position  Mission Statement:  Win customers by creating a superior experience in their local markets  Win communities by continuing their history of local involvement, philanthropy, and leadership where they live and work  Consumers see Huntington as a member of the community  Positive Brand Equity  Competitors  In competition with banks in same geographic region  Page 14
  • 15.  Even local banks pose a threat due to their ties to the community PNC is the strongest competitor  Online ease of banking, virtual wallet, online checkbook balancing The Consumer Huntington has a large target audience, consisting of all persons of age to have a checking account.  Already have tailored programs such as small businesses and automobiles New Market: Males and Females, ages 17-25 years old, college students Key Consumer Insights These consumers are avid social media users Crave independence from their parents Slight majority of females, due to the increase of females attending college First time users and/or brand switchers Target Market Segments The Upperclassman  High school student  Graduating  Planning to attend college  Has held some type of part-time job  First time away from home  Want independence from parents  Parents still making financial decisions for them  Target Market Segments College Student  Female Student:  Page 15
  • 16.  Studious  Family-oriented  Responsible  Planning for the future  Will use: virtual wallet, mobile app, loans, advisor, safe credit Target Market Segments College Student:  Male Student  Sees himself as invincible  Craves independence  Stubborn  Seek help on his own  Short-term in mind  Will Use: Overdraft protection, mobile app, virtual wallet, loans The Other Consumer Parents of students going to college  Key Consumer Insights:  May be first child going off to college  Brand switchers  Craving ease of mind about their child’s financial future Target Market Segment Parent  Want better for child  Have made all or most of the financial decisions so far  Heavy researchers  Page 16
  • 17.  Looking for the best deal, lowest rate  Trying to let child establish independence  May be paying for/ helping out with college  Will like: advisor, loans, low interest rates  Objectives Objective:  Design and implement a student financial program  Provide first time bankers with a safe chance to build credit and learn money management skills  Offer more opportunities through loans  Give students independence, give parents peace of mind  Encourage brand switching with the media campaign  Stand out with media campaign  Encourage research of program  Campaign Concept Three Stage Program  Increase in freedom in each stage College Students Only  Must show proof of enrollment in a college or university Campaign Concept – Stage One Lowest Credit Card Limit  Low interest rates  Overdraft protection Student Loans  4% interest  Page 17
  • 18.  Advisor Campaign Concept – Stage Two  Available through IM on the mobile app Use and banks’ ATMs Mobile App w/ virtual wallet Higher credit card limit  Low interest rates  Overdraft protection  Points – redeemed for school supplies, textbooks, etc. Student Loans Advisor  Now optional Use other banks’ ATMs Mobile app w/ virtual wallet Campaign Concept – Stage Three Highest credit card limit  Higher interest rates, though still low  Overdraft protection  Points – now with a cash back system Student Loans Use other banks’ ATMs Mobile app w/ virtual wallet Strategies Marketing Communication Strategy  Introduce the campaign through the following mediums  Page 18
  • 19.  Billboards  Magazine Ads  Newspaper Ads  Internet Ads  Radio/TV Commercials  Strategies Creative Strategy  Incorporate current “Welcome” slogan  Tagline: Welcome to your new piggy bank  Incurs nostalgia for “old piggy bank”  Provoke thoughts for the future  Feature new signature green piggy bank Tactics Creative Objective:  Identify with students’ desire to become independent  Identify with parents’ desire to provide for and guide their children  Emotional appeals:  Leaving for college, a child leaving home for the first time  Huntington as a member of the community Creative Elements -AD Creative Elements- AD Creative Elements - Commercial Single announcer Film Noir style Excerpt from script:  Page 19
  • 20.  And then she walked in…told me to invest my piggy bank in Huntington Bank  And then she started lecturing me about how it’ll help me be more responsible, and how I can get cash back on everyday purchases, and how I should come home every weekend…  I hate it when moms are right.  Media Strategy As many mediums that will reach our target audience as possible  Billboards  Radio/TV  Magazines  Newspapers  Internet Media Strategy Media Objectives  Introduce the program, increase brand awareness  Encourage brand switching  Reach target audience  Promote positive brand equity to the consumer Media Tactics- Magazines and Newspapers Placed in the following types of magazines or newspapers:  Seventeen  Cosmopolitan  The Plain Dealer  Better Homes and Gardens Media Tactics - Radio Air on stations such as:  Page 20
  • 21.  96.5 Kiss FM – student  104.1 Q104 – student  95.5 The Fish – parent  92.3 The Fan – parent(male)  102.1 WDOK – parent  106.5 The Lake - parent Media Tactics – Internet Social Media:  Facebook Online news sites College sites Media Tactics - Television Shows such as:  How I Met Your Mother  Desperate Housewives  News Channels  Pretty Little Liars  The Lying Game Media Tactics - Billboards Near major colleges such as:  The Ohio State University  University of Kentucky  Pennsylvania State University  Purdue  West Virginia University  Page 21
  • 22.  University of Michigan Media Calendar Pulsing  Increased frequency between April and September  Most people are thinking of returning to school/ starting school  Exception: billboards  October – February  Heavy college visit time Budget Required for a product introduction and yearlong campaign Total = $2,495,537 Evaluation Since it will be a product launch, easy to determine effectiveness by amount of people signing up specifically for student program Assess the needs of advertisement once awareness is established Keep constant, open communication with customers for feedback  Page 22