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TD Bank's Pitch Brief

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Financial services giant TD Bank is reviewing its media and creative business.
"We evaluate our agency relationships routinely and are currently in the process of conducting a closed review," said a TD Bank spokesman. The bank promoted Patrick McLean, a Toronto native who now oversees the U.S. business, from senior VP-head of brand and product marketing, to chief marketing officer in December of last year. Before joining TD Bank, he was VP-digital marketing & brand strategy for Capital One Financial. Mr. McLean told digital news site Marketing Land earlier this year that the company will be launching a "new cash rewards credit card campaign this spring and is working on a new brand campaign.

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TD Bank's Pitch Brief

  1. 1. NEW BUSINESS PITCH BRIEF America’s most convenient Bank
  2. 2. NAME BRAND PITCH TYPE Creative and Media MARKET DATE April 27 , 2016 The Data You Need to Win This Pitch DESCRIPTION Financial services giant TD Bank is reviewing its media and creative business. "We evaluate our agency relationships routinely and are currently in the process of conducting a closed review," said a TD Bank spokesman. The bank promoted Patrick McLean, a Toronto native who now oversees the U.S. business, from senior VP-head of brand and product marketing, to chief marketing officer in December of last year. Before joining TD Bank, he was VP-digital marketing & brand strategy for Capital One Financial. Mr. McLean told digital news site Marketing Land earlier this year that the company will be launching a "new cash rewards credit card campaign this spring and is working on a new brand campaign." TD Bank reviewing creative and media agency th United States
  3. 3. Client Profile / Market The Toronto-Dominion Bank (the Bank), incorporated on June 22, 1998, operates as a bank in North America. The Bank conducts its business through segments, such as Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. Canadian Retail provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses, including credit cards, auto finance, wealth and insurance businesses. U.S. Retail consists of the Bank's retail and commercial banking operations operating under the brand TD Bank, America's Most Convenient Bank, and wealth management services in the United States. Wholesale Banking provides a range of capital markets, investment banking, and corporate banking products and services, including underwriting and distribution of new debt and equity issues, providing advice on strategic acquisitions and divestitures, and meeting the daily trading, funding and investment needs of its clients. The Bank is also an online financial services firm, with approximately 9.4 million online and mobile customers. FINANCIAL OVERVIEWCOMPANY BACKGROUND MAIN COMPETITORS 2015 Sales (mil) 2015 Employees Employee Growth Percent Assets (mil) Net Income Growth Percent Sales Growth Percent 24,718 81,483 - 1,104,000 - 4.9%
  4. 4. TD Bank in the U.S. 426 558 44 12 66 17 70 82 8.5 mln TD Bank serves more than Customers in the U.S. Locations through Notheast, Mid-Atlantic, Metro D.C., North and South Carolina and Florida 1,300
  5. 5. TD Bank in the U.S. U.S. RETAIL COUNTS FOR 27%OF TOTAL REVENUES U.S. RETAIL REVENUES +5%COMPARED TO 2014 $7,754 2015 Sales (Mln) 58% Wealth Management 4% Other (Primarily from investing activities) 8% Business Banking 29% Personal Banking
  6. 6. Customer Knowledge is key “To be more personal with consumers, we need to know a lot about them. This knowledge must be shared among different bank channels, whether consumers bank at a branch, at their computer or on a smartphone, so that the consumer experience is integrated into what the banks call an “omni-channel universe.” The information and data-crunching can create aw-shucks moments, such as ATMs greeting customers with personalized messages on their birthdays, leaving them feeling warm and fuzzy about their bank. TD Bank it’s starting to map non-banking data, such as data that shows how consumers are interacting on Amazon and how they're using their phones or how they are communicating on social media Theresa McLaughlin, TD Bank’s SVP/CMO Former SVP Digital Channels Strategy & Planning, TD Bank Group In January 2016, TD Bank and Cisco announced an agreement to collaborate on technology solutions to create enriched customer and employee experiences. Initial areas of focus for the project will include employee mobility, the Internet of Things, contact centre operations and energy conservation.
  7. 7. Fast Food industry in numbersThe U.S. Retail segment “BEST BIG BANK IN AMERICA” by Money Magazine for the 3 year in a row. NAMED TO DIVERSITY INC.’S TOP 50 Companies in the U.S. for diversity for third year in a row. WON THE 2015 J.D. POWER U.S. Small Business Banking Award for the Northeast. $ 191.2 MILLIONS Total advertising spending in 2014
  8. 8. Customer-centric campaigns #TDRollingRenoMake Today Matter#TDThanksYou In 2014, TD exploited ATM machines to provide Very personal, human gifts based on customers’ interests and passions. The video collected over 4 million views in the firsts 5 days. Today it reached over 20 million views. TD Bank gave 24 customers in 24 different cities 24 hours to initiate projects that would benefit their local communities. Each individual was given approximately $30,000 to put toward launching their program. The mini-documentary TD Bank created about the campaign has been viewed over 5 million times on YouTube. In May ‘16, The brand has teamed up with iCrossing and Hearst to promote its home equity loans and lines of credit. Hosting events in 40 East Coast cities at home shows and pop-up events at banks and home improvement stores. At each stop, Hearst had celebrities like DIY Network's Jason Cameron on hand explaining how folks can remodel their homes. The campaign's big digital push includes a microsite; social posts on Twitter, Instagram and Facebook; and content supplied by Hearst from Brands including HGTV and DIY Network.
  9. 9. TD Bank ahead of the digital curve 75% OF TD TRANSACTIONS ARE DONE DIGITALLY 1st BANK IN THE WORLD TO OFFER CUSTOMER SERVICE OVER FACEBOOK MESSENGER TD BANK ANNOUNCED PARTNERSHIP WITH MOVEN TD MySpend is a companion app to the TD mobile app for both Android and iOS platforms. It leverages Moven’s personal financial management tools to help users track their spending habits from eligible TD Bank accounts and TD credit card accounts, as well as receive instant notifications. TD MySpend HAS CURRENTLY OVER 270k USERS IN CANADA •• TD BANK SUPPORTS APPLE PAY IN CANADA TD BANK SUPPORTS SAMSUNG PAY IN THE U.S.
  10. 10. Digital Landscape US Use either mobile or online as their primary method of banking 51% Tried mobile banking apps Actively use mobile banking apps 57% 48% MOBILE PAYERS 68%PAID BILLS ON MOBILE 39%PAID A SERVICE OR PRODUCT AT A STORE 18 - 29 30 - 44 45 - 59 60+ MOBILE BANKING USAGE HAS GROWN FOR ALL AGES Percent of households with cellphones and bank accounts that use mobile banking tools 2011 2014 A FEW TIMES A YEAR 5% MORE THAN ONCE A DAY 7% ONCE A DAY 13% A FEW TIMES A WEEK 42% ONCE A WEEK 13% A FEW TIMES A MONTH 5% 76% OF RESPONDENTS USING A MOBILE BANKING APP ACCESS IT ONCE A WEEK OR MORE Source: Bank of America, Board of Governors of the Federal Reserve
  11. 11. MOBILE PAYERS • • • • • • QUICK DEFINITION The Mobile Payers rend money for a product or service through portable electronic devices such as a cell phone, smartphone or PDA. Mobile payment technology can also be used to send money to friends or family members. TECHNOLOGY PARTIES ART INFLUENTIAL FIGURES
  12. 12. TD BANK’S AUDIENCE CROSSOVERS TOP BRANDS TOP SOURCES TECHCRUNCH MASHABLE MOBILE PAYERS: TECHNOLOGY TECHIES 42% NEST GOPROTILE TECH-SPLORERS 22.8% CONSUMER ELECTRONICS 62.6% The tech-savvy attitude of Mobile Payers can be observed also among TD Bank’s audience. Techies account for a narrower share of the audience (12.7%) but records interesting popularity points (136.8). Moreover, similarly to Mobile Payers, they express an early-adopter behavior toward technology (Tech-Splorers 168.5). TD Bank’s audience shows a major interest on Mobile Phones (170 popularity) over the rest of Consumer electronics. Their favorite brand is BlackBerry. KNOW MORE? KNOW MORE? THEVERGE
  13. 13. MOBILE PAYERS: PARTIES 166.5% PARTY GOERS TOP BRANDS TOP BRANDS LIQUORS (popularity index) 144.3 CLUBS & DISCOS (popularity index) 166.2 HAKKASAN LAS VEGAS MARQUEE LAS VEGAS DRAI’S BEACH CLUB KNOW MORE? KNOW MORE? TD BANK’S AUDIENCE CROSSOVERS TD Bank’s audience loves to party too. The Party Goers trait collects high popularity points (167.0). They show strong interest in Clubs & Discos, outperforming the Mobile Payers in term of popularity (175.2). TD’s audience reside on the atlantic coast. Their favorite clubs are in New York City (Pacha, The Gramercy Theatre) and in Atlantic City, New Jersey (Revel Nightlife). TD Bank customers show high interest on all Alcoholic Beverages but, in term of popularity, Wine conquers the first place (186.4). The most relevant brand is Arbor Mist.
  14. 14. MOBILE PAYERS: ART TOP ART EVENTS TOP ART RELATED INTERESTS INTERESTS IN 23.5% BORROW LENSES MOO.COM PHOTOJOJO KNOW MORE? KNOW MORE? ART APPRECIATORS (popularity index) 164.7 VISUAL ARTS AND DESIGN (popularity index) 166.5 ART EVENTS SXSW THE WEBBY AWARD OUTSIDE LANDS MUSIC FESTIVAL TD BANK’S AUDIENCE CROSSOVERS Art is another passion shared between the two audiences. Art Appreciators trait collects 140.4 popularity points. Differently from Mobile Payers, TD Bank’s customer doesn’t seem to be much interested in visual arts and design (60.4 popularity). They are outperforming on Museums & Art Galleries, where the most relevant is the Guggenheim Museums, and Other art-related interests such as Theaters. Where the Lincoln Center of NYC gathers the most interest. Art Events gained more attention over the last quarter (+68% in the volume of interactions) but are still underperforming compared to Mobile Payers (108 vs 146 popularity index).
  15. 15. MOBILE PAYERS: INFLUENTIAL FIGURES TOP FAMOUS PEOPLE MARK CUBAN RICHARD BRANSON TONY ROBBINS KNOW MORE? KNOW MORE? KNOW MORE? FOLLOW FAMOUS PEOPLE ON SOCIAL MEDIA 94.2% POLITICIANS CHEFS OTHER FAMOUS PEOPLE REACH RELEVANCE TD BANK’S AUDIENCE CROSSOVERS Famous People scores a +2% in terms of reach among TD Bank’s customers. The two audiences share interest in Politicians and Chefs but the Toronto-Dominion’s people have greater interest in Models above all. Where the Cuban Vida Guerra results as the most relevant model. Considering all Famous People, the most relevant public figure turns out to be David Bloomberg.
  16. 16. 59% MOBILE PAYERS Mobile Payers TD Bank’s audience Adherence TD Bank’s audience share 59% of Mobile Payers top interests like Technology, Parties, Art and Influential Figures.
  17. 17. CONSUMER INSIGHTS SUITE Discover the T.D. Bank’s consumer TRY NOW FOR FREE > on Cubeyou Consumer Insights Suite

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