Smart investing@your library: Everyone Counts!


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Smart investing@your library®: Everyone Counts!, Sponsored by PLA, was presented at the ALA Annual Conf
The role of librarians as trusted navigators leading patrons to the most useful information is increasingly valuable. Smart investing @ your library® is building the capacity of public libraries and librarians to provide reliable, unbiased financial education and resources to those who need help. Librarians are building collections, delivering programs to people of all ages and economic circumstances and creating a national network of replicable service models. Using data to tell the story, reaching out and working with community partners, and integrating market research into program design are successful strategies that are building the foundation for a leadership role in financial education.

Speakers will share how they developed and implemented their marketing plans using both social media and traditional methods that include Facebook, print, radio, and word-of-mouth.

As a result of attending the session, attendees will:

Learn marketing strategies that attract new audiences
Meet financial literacy/library innovators
Know how to replicate financial literacy programs

Speakers: Liz Doucett, Curtis Memorial Library (ME); Sandy Dixon, State Library of Iowa (IA); Aubrey Carroll, Florence County Library System(SC); Jamie Ritter, Maine State Library(ME); Dwight McInvaill, Georgetown Public Library(SC)
Moderator: Bobbie Rudnick, Naperville Public Library(IL)

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Smart investing@your library: Everyone Counts!

  1. 1. Smart investing@your library ®Everyone Counts! INFORMING TODAY‘S INVESTORS Conference ALA Annual June 23, 2012, Anaheim
  2. 2. Smart investing@your library®What is Smart investing@your library®?• Established in 2007• Administered jointly by RUSA and the FINRA Investor Education Foundation• Funds library efforts to provide patrons with effective, unbiased educational resources about personal finance and investing• Has awarded 82 grants totaling over $6 million• Grantees represent 800 library facilities that reach a service-area population of 27 million• Still growing• Expanding to community college libraries beginning in 2012
  3. 3. Smart investing@your library® A Growing Program . . . Genesee Seekonk Fairfield Jackson
  4. 4. Smart investing@your library®
  5. 5. FINRA Investor Education Foundation• Established in 2003• Mission: Provide underserved Americans with the knowledge, skills and tools necessary for financial success throughout life• Awards grants and manages projects focused on financial and investor education• &
  6. 6. Smart investing@your library ® Everyone Counts! INFORMING TODAY‘S INVESTORS
  7. 7. Smart investing@your library® Everyone Counts! Curtis Memorial Library, Brunswick, ME • Population: 25,000 • Cardholders: 50% • Circulation: 386,000 • Staff: 36 Grant Project • Duration: 13 months • Amount: $72,950 • Focus: Help women better manage their money
  8. 8. Curtis Memorial Library Project Elements • Speakers • Investment club • Book groups • Website & blog • Money Works room • Money Works staff • New books • Librarian training
  9. 9. Curtis Memorial LibraryMarketing Strategy Digital Presence Community Buzz Awareness 1. Define audience 2. Develop marketing tactics to reach that audience
  10. 10. Curtis Memorial LibraryLessons Learned
  11. 11. Curtis Memorial LibraryThink Long Term
  12. 12. Smart investing@your library® Everyone Counts! State Library of Iowa • Population: 3.1 million, 69% with library cards • Sites: 543 independent public libraries 75% in towns under 2,500 • Circulation: 82,000 items per day • Visits: 55,000 per dayIowa Library Services/ Grant Projectstate library • Duration: 18 months • Amount: $98,251 • Audience: Rural adults in three age categories - Generation X - Baby Boomers - Silent Generation • Main partners: Ames Public Library Iowa State University Extension 25 public libraries in towns <25,000
  13. 13. State Library of Iowa Project Partners: Ames Public Library • Previous Smart investing@your library® grantee • Provided marketing advice • Identified a core investment collection for each library • Identified online resources for library websites • Trained participating librarians on how to use the online resources with customers
  14. 14. State Library of Iowa Project Partners: ISU Extension • Expertise with financial literacy • Provided 3 on-line courses: Starting Out, Building Up, and Making It Last • ―Sandwich‖ approach – Week 1 (in-person kick-off), Weeks 2–5 online course, Week 6 (in-person wrap up) • Established relationships within communities, which helped with marketing
  15. 15. State Library of Iowa Marketing • Information at the library was primary source for learning about classes, specifically the librarian • Choose well established library directors • Word-of-mouth • Tap into partners‘ existing relationships within the community
  16. 16. State Library of Iowa Lessons Learned • Librarians in small communities need more marketing support • Emphasize word-of-mouth marketing • Connect to existing community groupsIowa Library Services/ • Stress that classes are objective — no sales pitchstate library • Make the kick-off fun • Consider providing more time for participants to complete the class
  17. 17. Smart investing@your library® Everyone Counts! Florence County Library System, SC • Population: 137,000, 70,000 with library cards 18% below poverty level 41% African American, 2% Hispanic/Latino 9.6% unemployment • Annual visits: 585,000 • Circulation: 320,000 Grant Project • Duration: 16 months, 2011–2012 • Amount: $47,949 • Audiences: seniors, teens, children low- to moderate-income individuals • Partners: SC Department of Consumer Affairs AARP, Florence Chapter Francis Marion University Business School Poynor Adult & Community Ed Center
  18. 18. Florence County Library System Multigenerational Project Elements • Children & teens  Dewey D. Fox Fall Festival  Dewey Dollar programs and collections for children  System-wide children‘s programming  Teen Lock-In • Take Control of Your Money  Workshops on money management & retirement planning  New print and online resources for adults  Senior lunch & learn  Consumer fraud alerts
  19. 19. Florence County Library System Marketing • Radio • Print advertisements • Incentives — Dewey Dollars, prizes • Flyers to schools • Partners • Billboards • Bus advertisements
  20. 20. Florence County Library System Lessons Learned • Following a recipe doesn‘t always yield expected results • Success tip: Adapt a program format that has worked previously in YOUR community — a program that already has a ―following‖ • Direct marketing works best for teens • If you feed them, they will come!
  21. 21. Smart investing@your library® Everyone Counts! Camden Public Library, ME • Population: 5,200 (10,000 expanded) • Annual visits: 180,000 • Circulation: 280,000 Grant Project • Theme: Wealth of Information • Duration: 12 months • Amount: $44,000 • Audience: Every household in the community
  22. 22. Camden Public Library Partners! • Partners were critical in bringing outside, non-biased credibility to the program • Partners helped to market and promote the program via their own network of followers and supporters • Staff (as a partner) helped ensure cohesiveness of grant programs and brought awareness of grant materials to the public • ALA and FINRA as partners were essential in providing support and guidance
  23. 23. Camden Public Library Marketing •Creating a unique, identifiable brand was critical • Marketing elements carried the brand throughout the library •Reaching our entire community was very important — marketing strategies lent themselves to that (e.g. print newsletter, Facebook, e-newsletter, email blasts, website) •Ensuring that resources available to public have some level of ‗panache‘ •Premium (incentive) was helpful in attracting people to programs and promoting learning beyond the programs (e.g. Quicken software)
  24. 24. Camden Public Library Successes •Using non-biased presenters is extremely critical. Embrace it! We received much positive feedback from participants because they knew they wouldn‘t be attending a ―sales‖ presentation. • In-library marketing: Keeping the programs front and center throughout the grant period is important to build awareness in a short period of time. •It‘s imperative to reward people for their attendance and to build an element of fun around programs. Hindsight Helps •Think carefully about when to start programs to maximize publicity and attendance. Summer (for us) was not a great time to start.Three members of BetterInvesting represent •―Narrow‖ can be effective. Too many pieces beingnon-biased presenters incorporated into programming efforts can be challenging.
  25. 25. Smart investing@your library® Everyone Counts! Georgetown County Library Smart Investing Accomplishments by the Numbers 2 Years (FY2011 & 2012): $87.3K1,400 folks at three financial 1,005 financial fitness books at fitness parties 17 diverse sites 314 adults at 20 financial 8 business kindles, 138 literacy workshops e-books, and 5 financial videos240 youngsters in 62 money 1,000 Great Depression images learning activities and 38 oral history interviews Serving P.I.E. (Powerful Investment Education) to Everyone in Georgetown County!
  26. 26. Georgetown County Library Components A Pyramid of P.I.E. (Powerful Investment Education!)Productions Presentations• Interviews • Teen Talks• Photos • Adult Workshops• PSAs • Trainer TrainingPlay Perceptions• Parties • Reveal Resources• Gaming • Develop Skills• Storytelling • Instill Life Changes
  27. 27. Georgetown County LibraryP.I.E. Marketing Recipes to Sell it Well!• Gossip & Stunts • Listservs• Community Boards • Email• Church Bulletins • Facebook• Flyers & Posters • Websites• Bookmarks• Newspapers • Other Social Media• T.V.• Radio • And Much, Much• Speeches More!!!
  28. 28. Georgetown County Library Lessons Learned Include Everyone in Money Matters Go Where People Are Note that Folks Learn in Different Ways View Parties as Memorable Fun See Everyone as Financial Stars Share Stories for Great $ Results Recall Pictures = 1,000 Words Remember Active Learning Endures Build Community thru Fiscal Teaching Imagine More Future Prosperity for All!
  29. 29. Smart investing@your library® Everyone Counts!Strengthen local economies with information andlibrarian built and tested solutionsDemonstrate value of library as trusted resourcefor financial educationInnovate with nontraditional library programs andrecognized universal access
  30. 30. Smart investing@your library®Margaret Monsour Aubrey CarrollAmerican Library Association Florence County Library acarroll@florencelibrary.orgElisabeth Doucett Jamie RitterCurtis Memorial Library Maine State James.Ritter@maine.govSandy Dixon Dwight McInvaillState Library of Iowa Georgetown County Moderator: Bobbie Rudnick, Naperville Public Library