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Wells Fargo IMC Advertising Project


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This is the project that I completed during my Advertising class at the Monfort College of Business. We were asked to create an Integrated Marketing Campaign for Wells Fargo and their Rocky Mountain Super Pass program.

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Wells Fargo IMC Advertising Project

  1. 1. Proposed Marketing Concepts for the Wells Fargo Super Pass November 2008 Jeff Bigley Josh Leiker Michael Hamling Nicole Wedel
  2. 2. underappreciated and they may not of banking with Wells Fargo as wells as the consider Wells Fargo as a good fit for value of the Super Pass offer in a creative 1.0 Executive Summary them, despite the Super Pass offer. We format. have designed a campaign for the students The Wells Fargo 2 for 1 Rocky Mountain that is relevant across the various The most unique aspect of our campaign Super Pass offer has been in existence for campuses along the Front Range, as well will be the sponsorship of local bands. This 7 years and has been especially popular in as youthful enough seems appropriate to us 2006 and 2007. However, Wells Fargo has to gain the trust because Wells Fargo asked us to find new ways to market the and attention of prefers to use its offer and to increase voucher this unique market. marketing budget to redemptions. We have researched and Our theme “Save sponsor events and analyzed the competition, the market, and some dough programs in the Wells Fargo’s current tactics, and here…Shred some communities in which its formulated new, fresh ideas to snow here” branches operate. It also supplement these tactics. permeates our allows a greater flexibility media choices, and to reach the student The target customers of this campaign, segment. our “Call it…Click it…Combo it” feature students and faculty/staff of universities, adds convenience and integrates Also included is an all-encompassing are two very different groups. They technology for those who seek itemized budget that illustrates exactly respond to different kinds of advertising information about the offer. how much each element of our proposed and enjoy different activities. However, they both seek the same benefits from For the student segment, we have campaign will cost. Our total costs for the their financial institutions, such as developed a strategy of tying music, the campaign are just under $60,000. We will reliability and convenience. Both groups excitement of the slopes, print ads, and evaluate the success of the campaign in also tend to enjoy skiing and pages on Facebook and Myspace together December of 2009, when all vouchers snowboarding in their free time. have been redeemed. A tracking method for a multi-sensory, confluent campaign that reaches students in a unique and to record from which school each We found that Wells Fargo has not been redeemed voucher came from is also relatable way. For the faculty and staff, we as student-oriented in its marketing included in the proposal. created a simple direct mail campaign that approaches as some other banks. This may will efficiently communicate the benefits lead to the student market feeling
  3. 3. 2.0 Promotion Opportunity Analysis and Communications Analysis Who are the major competitors? including money matters, through a. According to a direct competitor analysis by the Webisodes, additional online content as Hoovers editors, Wells Fargo’s top competitors well as offline communication pieces.” are: Bank of America and US Bancorp Bank of America also provides a student What products do they offer? (We chose to research package including financial education materials products offered to the student and faculty and banking tools that they feel are convenient demographics) for students, which can be viewed online. b. Bank of America: An August 28. 2008 article in USA Today discusses Bank of America’s push to ii. USA Today describes the student gain the student market by offering, among package as “…a suite of easy-to-use other things, financial knowledge and college banking products designed specifically tips through their “Morris on Campus” for students, while also pointing them program. to helpful financial resources, such as i. Excerpt from the article: “Morris on the Student Financial Handbook, a Campus,(TM) Life According to an downloadable guide that provides Upperclassman,(TM) provides students with easy to understand college students with tips on explanations and advice on an array of how to navigate campus life, financial topics.”
  4. 4. c. US Bancorp (US Bank): US Bank also offers a student banking program. i. The “US Bank Student Checking” program includes: 1. No monthly maintenance fees 2. No minimum balance requirement 3. Free checks 4. Free ATM withdrawals from any ATM 5. After 5 years, the account automatically converts to “US Bank Free Checking” 6. Access to discounts on products from Pizza Hut orders to Office Max supplies through the “US Bank Shopping Mall” 7. Campus ID/Debit Card hybrid for students at partner schools
  5. 5. What do the competitors say about themselves? Bank of America: US Bank:  -Mission: to offer lending and investment  Provided more than 20 million in cash grants to products that qualified nonprofit organizations in 2006  -Serve low and moderate-income individuals  Made more than $21 billion in loans and and families investments during 2006 to help support the  -Improve underserved low and moderate- creation of affordable housing, economic income communities revitalization, and organizations providing  -Their community development lending and critically needed services to low- and investment goal is to lend $750 billion over the moderate-income individuals and areas next 10 years which is one of the largest community development goals ever established by an American financial institution What do they do in terms of advertising and promotion? Banks marketing to college students often try to get them to sign up for package deals much like Wells Fargo, but they tend to offer themed ad campaigns such as web sites rather than items such as the ski pass. Most banks do offer some sort of “gift” for signing up but that is mostly geared to a general audience and not just college students or faculty. A major theme that almost all banks try to promote is free checking accounts for students.  Bank of America also had an excellent college themed campaign with their “Morris on Campus, Life According to an Upperclassman” web site. A major theme of their campaign is getting students to use more mobile banking features. Their site features tips for college and managing your money and is tailored to the younger college audience.  They also have a mini “net-show” on their site discussing the different aspects of college life and banking.  Bank of America also has run a promotion for students to win $25,000 for offering their best financial tips relating to on and off campus life.
  6. 6. What do other people say about the competition? To better understand why people that most of the people who banked there were in their choose their bank rather than the middle ages. A woman named Lisa Cox at age 43 who has other banks available, several banked at Bank of America for over 10 years was interviews with customers were interviewed. Two questions were asked about why she conducted from US Bank, Bank of chose there and not at another competitor. The interview America, and 1st bank. had these conclusions: When interviewing the customers at Bank of America it was found  Why are you banking with Bank of America? I enjoy the atmosphere that they offer to their customers. They allow the consumer to feel that he/she is important and help them any way they can. Also, the attitudes of the bankers and tellers let me know that if I need help ever they will be there for me.  What is different about them than other banks that compete with Wells Fargo? Bank of America offers more towards a business-minded person. This difference is created for the typical person who wants to concentrate on investments, business accounts, or an abundance of money. My bank has more of a feeling of security than the other competition in my opinion. When dealing with the amount of money I do, I wouldn’t want another bank to handle my transactions. The same two questions were asked to US Bank customers. It was found that most people from US Bank were older consumers and college students. The name of the person interviewed was Elizabeth Nair at age 72; she has been at US Bank for over 13 years. The following is how she responded to the questions I asked:  Why are you banking with US Bank? The main reason I bank with them is they make it simple for older people to understand the system. US Bank does a great job at helping their customers understand what they are doing with your money. This offers me knowledge that my money is in good hands. Another reason I bank with US Bank is because they have ATM’s at locations that are convenient for me in my retirement home.  What is different about them than other banks that compete with Wells Fargo? When I looked at the other banks and what they offered I was drawn to the fact that US Bank was so helpful. I went into other banks and I had such a hard time understanding what the banker was telling me. The difference about them is that they keep things simple. Other banks try to tell the person all about every one of their products; here they only tell you about what product you’re interested in.
  7. 7. Opportunity Analysis A variety of unique promotional opportunities exist for markets so that the students begin to feel more allied with marketing the Wells Fargo Super Pass Offer. Wells Fargo is the Wells Fargo, and the faculty and staff still think of Wells Fargo largest bank in Colorado, and has an established a reputation as a reputable, reliable institution that will take good care of for being a reliable institution through qualities such as the their finances. company’s lack of involvement in the recent foreclosure crisis Currently, Wells Fargo has invested great amounts of and its financial stability throughout the economic downturn. time and interest to community reinvestment. According to For this reason, we feel that heavy advertising through Wells Fargo’s website, the institution made $33.4 million in media such as television, radio, and newspapers would be Community Reinvestment Act-qualified community inefficient. Wells Fargo’s prominence and numerous locations development loans and investments throughout Colorado in mean that most consumers are already very aware of the 2006 alone. Wells Fargo donated $3.9 million in 2007 to 1,000 company and have likely associated positive attributes such as nonprofits and schools in Colorado, including $189,000 that stability and convenience with the Wells Fargo brand. Wells Fargo matched when team members contributed to pre- K through college educational institutions. The challenge in this circumstance is to reposition Wells Fargo in the students’ minds as being youth-oriented It is obvious that Wells Fargo has made significant and in tune with the desires and needs of students as well as efforts to invest positively in the community, but we feel that attracting the older, but still active, faculty and staff members. even greater impact could be made in terms of promoting the The benefits of the Wells Fargo Super Pass offer would be Wells Fargo Super Pass offer by sponsoring events and better articulated through promotional activities such as activities that appeal to various segments of our target events, sponsorships, and sweepstakes. The events and other market, which will be discussed in further detail later in the promotions could be customized to meet the two dissimilar following sections.
  8. 8. Target Market Analysis Target Market: College students and college faculty and staff along the Front Range Demographics by Geographic Region: University Northern Colorado State University University of Colorado, University of Colorado, Colorado Boulder Boulder 11,509 Undergraduate 24,700 students 28,988 Undergraduate 21,000 students Students students 390 Full time faculty 1,450 Faculty members 6,902 Faculty Members 800 faculty members members, 170 part-time faculty members We chose students, faculty and staff from University of Northern Colorado, University of Colorado at Boulder, and Colorado State University, and Metropolitan State University because these schools have significant populations and are located within a reasonable distance from Copper Mountain and Winter Park. UNC’s campus is the furthest from the ski resorts with a travel time of about 2 hours and 30 minutes. We did not choose University of Denver, for example, despite its proximity to the ski resorts because the student population there is only about 10,000 students, which is significantly less than Metro State.
  9. 9. The key aspects of the Generation X members of the faculty whose offspring have moved out of their parents’ homes. This and staff target market are that they tend to be more will give the Boomers more leisure time to enjoy time- financially secure, and therefore capable of spending money consuming activities such as skiing or snowboarding. The on frequent skiing or snowboarding trips. They also prefer to financial power of the Boomers is another reason for focusing spend their free time enjoying high-energy activities, as on this generation – they have more money to spend and opposed to things like gardening or reading. This would make more time to spend it. According to the Digital Boomer Agency college faculty and staff more prone to outdoor activities, on, the Boomers will outspend younger especially skiing and snowboarding in the winter. Research adults by $1 trillion annually by the year 2010. The Boomers also revealed that members of Generation X were the original can also be valuable to marketing because of their high inventors and participants of snowboarding, meaning that participation in word-of-mouth advertising, which could many members of our faculty or staff market would already increase the popularity of the Wells Fargo Super Pass deal. have a tendency towards the winter sport. These factors make University students that are members of Generation Y are also the younger portion of the faculty and staff market good included in our target market for several reasons. First of all, targets for the Wells Fargo Super Pass deal. research described this group as independent and self-reliant, The Baby Boomer members of the faculty and staff are also which could mean that they enjoy activities in which they can prime targets for the Wells Fargo Super Pass deal. The excel individually, such as skiing and snowboarding, rather 2006/2007 Kottke National End of Season Survey₇ states that than group activities. This group has also been noted by USA there is “strong growth in the 45 – 54, 55 – 64, and 65+ Today to have “financial smarts,” which might make a 2-for-1 segments,” most of whom are in the Baby Boomer generation. deal on the Super Pass an attractive option for saving money. The survey also explains that “the proportion of visitors living USA Today also described Generation Y as prioritizing their in…empty nester households continues to trend up,” which is personal lives rather than their careers. This could mean that another common attribute of Baby Boomers. According to students in Generation Y are more likely to rearrange their research, many of the Baby Boomers now are “empty nesters” schedules to make time for skiing and snowboarding trips.
  10. 10. Customer Analysis We conducted a survey in two popular student venues to get a better understanding of the entertainment preferences of the student segment of our target market. Results of Informal Survey: Greeley This survey was a random sample of 30 people attending a show by the band Ben Pu and Crew at the popular student hangout, The Penalty Box, on October 18th. Each person answered the same questions. A rough headcount of people in The Penalty Box about an hour into the gig was about 200 people. An official number was unavailable because the venue was not recording entrant numbers that night. 1. Are you a student at UNC? Yes: 27 people No: 3 people 2. Do you ski or snowboard? Yes: 19 people No: 11 people 3. If yes, how often do you go? 1-3 times a month: 10 people 4 or more times a month: 9 people
  11. 11. Results of Informal Survey: Boulder This survey was a random sample of 30 people attending a Ben Pu and Crew show at Connor O’Neill’s, a pub-themed bar popular with CU students for its wing specials and Irish beer selection, on November 13th. Roughly 150 people were in the venue two hours into the gig. Each person answered the same questions as the respondents in Greeley. 1. Are you a student at CU? Yes: All 30 people questioned were college students, 28 at CU, 1 from DU and 1 from UNC. 2. Do you ski or snowboard? Yes: 26 people No: 4 people 3. If yes, how often do you go? 1-3 times a month: 15 people 4 or more times a month: 11 people Analysis: It is clear that students make up a large proportion of heavily weighted towards students, and 86% of the the nightlife during live band performances at local bars. 90% respondents said they ski or snowboard! Similar to the of those randomly chosen in the Greeley survey were Greeley results, 36% said they ski or snowboard 4 or more students, and 100% of the people sampled in Boulder were times a month. We can guess that around 129 people in students from CU, DU and UNC (although a vast majority attendance would be viable targets for the Rocky Mountain attended CU). 63% of Greeley respondents said they ski or Super Pass, with 54 of those people being frequent skiers. snowboard and 30% said they ski or snowboard 4 or more We can conclude that marketing through live music times a month. We can reasonably assume that out of the 200 performances by bands that are popular with college students people in attendance that night, 126 people were eligible could be beneficial due to the high proportion of skiers and targets for the Rocky Mountain Super Pass, and 60 people snowboarders in attendance at these events. Also, linking would benefit further due to the frequency of their skiing and Wells Fargo to bands that are popular with students could snowboarding excursions. In Boulder, the results were very help younger people feel like Wells Fargo is more in tune with exciting. The population at Connor O’Neill’s was clearly very their generation.
  12. 12. Positioning Analysis: Wells Fargo is seen as one of the top banks in America. The institution has around 3,300 branches spread out throughout the West and Midwestern United States. Some of Wells Fargo’s similar competitors include Bank of America and US Bank. These are all national “big bank” type companies, and typically are seen opposite from smaller local banks such as New Frontier Bank in Greeley. People view Wells Fargo as very reliable and strong, especially as compared to other banks in the current economic downturn. Typically, Wells Fargo is currently positioned in the consumers’ minds as more of a “mature” bank and tends to focus more heavily on their career-driven, more financially secure, older customer base. Another factor for this is the fact Wells Fargo is viewed as a leader in residential mortgage lending business, which students are not likely to be a part of. 2.2 Market Segmentation Strategy Our target market is most highly segmented by age. Our campaign includes two different tactics: one geared towards students aged 18 to 25, and one geared towards faculty and staff aged 30 to 65. The student market will be more reachable through our event- oriented marketing because this market segment is active and likes to go out in their free time. Direct mail will be more effective for faculty and staff who spend more time in their workplace. Benefits sought from financial institutions are similar throughout both target markets. All age groups desire free checking, reliability, and convenience. Wells Fargo has already positioned itself positively in those categories, so marketing the various benefits of banking with Wells Fargo does not need to be adjusted to meet either particular group. Instead, it is most important to find an effective advertising method for both groups in order to raise awareness about the 2 for 1 Super Pass deal and, in the case of the student market, reposition Wells Fargo as a student-oriented institution instead of exclusively an adult-oriented institution.
  13. 13. 3.0 Strategies We have developed a strategy of tying music, the excitement of the slopes, print ads, and pages on Facebook and Myspace together for a multi-sensory, confluent campaign that reaches students in a unique and relatable way. We will also use newspaper advertisements and flyers with the common theme “Save some dough here….Shred some snow here” to promote both the Wells Fargo College Combo and the Super Pass offer. Our strategy for faculty and staff is to use creative direct mail to make this market segment aware that they are eligible to participate in the 2 for 1 Super Pass offer. 4.0 Campaigns Objectives The target market for this campaign is typically a younger, more active person. The campaign will reach this market by repositioning the brand image and appealing to their interest. The repositioning of the brand image will contain three IMC objectives. 1. Increasing the market share for college students in selected regions by appealing to their interests in music and active, outdoor lifestyles. 2. Using online social networking to spread the word about Rocky Mountain Super Pass promotion amongst the target market. 3. Use direct mail to promote the Super Pass offer to faculty and staff of selected regions. 4. Increase the amount of redemptions by 15% from 2006’s numbers up to 6,440 redemptions.
  14. 14. 5.0 Advertising Newspaper Advertising: The first aspect of our advertising campaign will be print ads in the school newspapers at University of Northern Colorado, University of Colorado at Boulder, and Colorado State University, and Metropolitan State College of Denver. We will run these ads from August, when college students have begun classes, through November, when ski pass purchases drop off. The print ad includes our advertising theme for students, “Save some dough here…Shred some snow here.” Also included throughout our student-oriented advertising campaign is the element “Click It…Call It…Combo It.” The “Click It” segment provides the URL for Wells Fargo’s MySpace page, which will be discussed next. The “Call It” segment provides the phone number to the Wells Fargo location that is closest to the university. “Combo It” relates both to the College Combo and to snowboarding terminology. An example of our print ad
  15. 15. Online Advertising: Most students are aware of, and familiar with, Currently, when a person uses the MySpace search engine to search for users, the page we’ve created for the Wells Fargo Super Pass is the very first profile that appears when “Wells Fargo” is typed in the search box. This page carries the same “Save some dough here…Shred some snow here” theme. It also has more in-depth information about the Super Pass and the College Combo. The profile can incorporate songs by local bands, and our sponsored bands (discussed in the next section) will have a banner on their MySpace pages linked to this page. All ads and flyers include the direct URL, Students who are not MySpace members can also access this page and all its features.
  16. 16. A Facebook account has also been set up to promote the campaign. The Facebook page will have a masking link of that will lead directly to the Facebook page. Here events can easily be scheduled, promoted, and sent out to everyone who is friends with the Facebook account. Both social networking sites will allow for very cheap, effective advertising and even allow students who have a 2-for-1 Super Pass to find a partner to take advantage of the promotion with.
  17. 17. Direct Mail: Faculty and staff would be easily reached by direct mail. Most in-office mailing directions are readily available online and easy to use once compiled. We feel that a faculty or staff member is more likely to pay attention to a direct mailer that is not “junk mail” formatted. That is why we have designed three postcards with an affective approach. We will mail each postcard once at the beginning of September, October, and November for a total of 3 contacts. The post cards are 4x6 inches.
  18. 18. 5.1 Sponsorship A key element of this campaign is sponsorship of local bands in our target cities of Greeley, Fort Collins, Boulder and Denver. According to the survey and analysis in the Customer Analysis section, our target market is prominent at live music shows in local bars and music venues. Sponsoring each student hotspot would be very expensive and probably ineffective due to clutter. However, sponsoring a band would allow Wells Fargo to go anywhere the band goes. The elements of the sponsorship would be very formulaic and easy to implement. A). Wells Fargo Plugs: The sponsored band will be required to read each script once during a gig for a total of 3 Wells Fargo Super Pass deal plugs. The scripts are written to sound very natural and more like advice about a great deal, as opposed to an advertisement for Wells Fargo. Script for Wells Fargo plug during concerts A band member will read each version once in 30 minute intervals. 1) “We just want to thank Wells Fargo for sponsoring us tonight…. For all you students who are skiers and snowboarders out there, Wells Fargo can get you a 2-for-1 deal on the Rocky Mountain Super Pass if you sign up for their Wells Fargo College Combo… it saves you a ton of money if you like to hit the slopes…come grab a flyer, if you’re interested” 2) “All you students who like to ski and snowboard… if you sign up for a Wells Fargo College Combo, you can get a 2-for-1 deal on the Rocky Mountain Super Pass and save like 400 bucks… the flyers are on this table over here…” 3) “Don’t forget, if you don’t already know…students just have to sign up for a Wells Fargo College Combo to get two Rocky Mountain Super Passes for the price of one… it’s really easy and it’s a great deal, so come grab a flyer or just head into a Wells Fargo bank and ask about it…”
  19. 19. B). Wells Fargo/Super Pass Flyers: Each band will be equipped with flyers, which they will place in an accessible area in the venue.
  20. 20. C). Stage Wrap: Each band will have a banner that wraps around elevated performance platforms (called a stage wrap). Stages are generally similar from venue to venue, so one stage wraps about 2 feet tall and 8 feet long should be sufficient. D). MySpace Banner: Each band will have a banner on their MySpace page linking the viewer to the Wells Fargo Rocky Mountain Super Pass deal MySpace page.
  21. 21. 5.2 Media Plan The four school newspapers in which we will advertise have a reach of about 100,000 total students, faculty, and staff members in our four target schools. This information is based on total student and faculty counts from the schools’ websites, plus about 4000 to account for staff numbers, which are unavailable. We will advertise in these publications once a week during August through November, for a total of 12 advertisements per newspaper. Information about more precise estimations of reach will be included in the Itemized Newspaper Advertising Budget section of the Budget. The sponsored bands should reach approximately 200 people per show and will have 4 sponsored shows per band each month from September through October. That is a total of about 9,600 people. Of course, this number can be much greater if the band plays larger festivals or more popular venues. The direct mailers will reach about 13,000 people, which includes official faculty information from the schools’ websites, plus 4000 for uncounted staff members. 6.0 Evaluation We will evaluate our campaign in December after all Super Pass vouchers have been redeemed. At this point, we will be able to discover whether we’ve met our objective of increasing voucher redemption by 15% from 2007 figures to 6,440. We also will use a tracking method throughout the campaign so that we can evaluate how many voucher redemptions came from each school. 57 Wells Fargo locations, closest to the four target schools, will hole-punch the vouchers with a different shape assigned to the school that the person attends or works for. Evaluation based on this tracking method will tell us whether more focus needs to be placed on certain locations.
  22. 22. 7.0 Budget The Campaign Budget Accounts for our Advertisements run in college newspapers, the amount of money we are paying each band for the shows they perform, the cost of printing out postcards, the cost of the direct mailing of postcards, the banners given to each band to wrap around the stages where they perform, and the registering of the domain name for the specific Wells Fargo Super Pass promotion website.
  23. 23. Itemized Newspaper Advertising Budget: We will be running ads once a week in three different news papers which include, The UNC Mirror, The Metropolitan, The Rocky Mountain Collegian, and The Boulder Daily. We will be running a half page advertisement during the Monday addition of each news paper except for the Metropolitan which is only published on Thursdays. The Newspaper Budget is split up according to the demographics of the schools. The Largest percentage of students in Colorado attended school in the Metropolitan area; therefore the largest percentage of the budget was allocated to that areas School newspaper.
  24. 24. The UNC Mirror (University of Northern Colorado) The Rocky Mountain Collegian (Colorado State University) Approximate Reach: 12,075 Approximate Reach: 34,013 Frequency: 12 Frequency: 12 Approximate number of Impressions: 144,900 Approximate number of Impressions: 408,156 Local Rate: $8.25 per column inch The Open Rate: $10.00 Half Page (5 Columns x 7 inches) = 35 Column Inches 35 Column Inches Half Page (6 columns x 11 inches) = 66 column inches x $8.25________ 66 Column Inches $288.75/advertisement x $10.00_______ x 12 (frequency)_ $660/advertisement $3,465 x 12 (frequency)_ Ads will run once a week from August 24th – November 9th 2009 $7,920 Ads will run once a week from August 24th – November 9th 2009 The Metropolitan (Auraria Campus, Metro State College of Denver) Approximate Reach: 5000 The Boulder Weekly (University of Colorado at Boulder) Frequency: 12 The Rate for ½ page horizontal (8ci x 6ci) Approximate number of Impressions: 60,000 ½ page x 13 times = $573 per advertisement Local Rate: $8.00 per column inch Full Page (4 columns x 14 inches) = 56 column inches 573/advertisement 56 Column Inches x 13 times______ x $8.00________ $7,499 $448/advertisement x 12 (frequency)_ Ads will run once a week from August 24th – November 16th of 2009 $5,376 Ads will run once a week from August 13th – October 29th of 2009
  25. 25. Band Budget: The budget for the bands is allocated by multiplying the number of shows each band will be required to perform at by the amount each band will be paid for each show. That number is then multiplied by the number of bands. 12 overall shows x $200 per show $2400 x 4 bands_____ 9,600 Postcard Printing Budget: The budget for postcard printing is allocated using the rate for printing post cards in thousands which is $115 per thousand post cards printed. That number is then multiplied by the approximate number of post cards being sent out through direct mail which is 9,750/1000 = 9.750. There will be 3 waves of direct mail. $115 x 9.750_ $1122 x3____ $3,364 Source:
  26. 26. Direct Mailing Budget: The Budget for the Direct Mail Budget is derived from an estimate given by Postcard Builder. PROJECT NAME: Standard Postcard Mailing Specifications Quantity Each Total POSTCARD 9,750 $0.37 $3,607.50 Size: 4.25 x 5.5 Color: 4/4 Process; full bleed Stock: 12pt Stock, UV Coated Front Postage: First Class Included Total $3,607.50 Since there will be 3 waves of direct mail, the total will be multiplied by 3 bringing the total for direct mail to $10,825 Budget for Band Banners: The cost for each banner is going to cost $52.50 multiplied by 4 bands is equal to $210 Source: Budget for Internet Domain Name: The Budget for registering the Internet domain name for the Wells Fargo Super Pass Combo website is going to be $10/year. Source:
  27. 27. Budget for Fliers: The Cost in order to print 10,000 fliers in color is $700. There is more money left in the budget in case more fliers need to be printed. Source: Hole-Punch Budget: Each Wells Fargo Location in the areas which will give out vouchers heavily will need four different hole-punches in order to punch a different shaped hole into the voucher indicating which of the four areas the Student or Faculty member’s school is located. The hole-punches each cost $7. $7x 4=$28 per Wells Fargo Location For the Denver region there are 25 locations: 28 x 25 = $700 For the Boulder region there are 13 locations: 28 x 13 = $365 For the Fort Collins Region there are 6 locations: 28 x 6 = $170 For the Greeley Region there are 13 locations: 28 x 13 = $365 Total $1,605 Source: Agency Fee: Our agency fee is derived from taking the overall budget and multiplying it by approximately 15% which gives an agency fee of $8,400
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