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Citi Spec Deck

CitiBank deck by Team 23 under MAIP 2020.

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Citi Spec Deck

  1. 1. The Last Dance Agency focuses on helping you shoot your way to success. Let’s shoot your shot. - MAIP Team 23 3
  2. 2. 4 Carlos Linares Janelle Finch Nafisa Hassan Helen Tran Karla Rosario Tarahgee Morris Steven Hernandez Victoria CastilloRameen Ali Strategy Account Art DirectionSocial Strategy Social Strategy Account Media Planning Media Planning Dalida Rached Art Direction The Team Art Direction Nikki Powell Copywriting
  3. 3. Challenge Create an integrated initiative that allows Citi to drive awareness of its commitment to gender equality overtime, both internally and externally. Demonstrate Citi’s Commitment to driving an equitable recovery for working Millennial WOC post- pandemic. 5 Objective &
  4. 4. Competitors Citibank was founded in 1812. The first of its competitors, but still falls behind in use among our target demographic. Providing more accessible financial services and advice will strengthen Citi. 6
  5. 5. How we will do it differently Competitors see opportunity in Female consumers. However, women are less likely to want to learn about financial topics but do not think all banks are the same. Citi has the opportunity to differentiate1 Our competition offers financial literacy tools too. Citi chooses to be different by focusing on Millennial WOC. 7 1. Marous, J. (n.d.). How Leading Financial Brands Are Using Digital Marketing To Win Consumers. Retrieved from https://thefinancialbrand.com/75882/financial-banking-digital-advertising-marketing- media-trends/
  6. 6. 8 The Audience
  7. 7. Millennial WOC who act as caregivers in their families and social circles. We want to focus on the unsung heroes who have stayed resilient through trying times. 9 The Audience
  8. 8. 10 Citi Girls are hard-working women who want to enhance their futures, better their communities, and sustain their families. They are self-motivated empowering individuals who are breaking generational norms and taking charge of their financial freedom while balancing modern-day life. Citi Girls
  9. 9. Latinx, 25 Pre and Post Pandemic Occupation: Worked full time as a janitor at a local business. Takes care of kids and parents simultaneously. Pre & Post Pandemic Social channels transition: I mainly use Twitter and Facebook to get my news and stay in contact with my friends. 11 “When the pandemic occured my place of work was forced to close and my hours were cut. I am my family’s main financial support and this has been a challenging time for me.” Caresha JohnsonLizzie Ramirez Black, 36 Pre and Post Pandemic Occupation: Business Owner Pre & Post Pandemic Social channels transition: I use Instagram and Facebook on a daily for promoting by business and communicating with my family. “Before the Pandemic, my businesses was booming and I was getting more than 3 new customers a week. Since then, I’ve been researching loans for my company and have struggled on knowing what to do financially”
  10. 10. Primary Research Results 32% 12 62% 39% We surveyed 81 women on their financial literacy chose bank based on convenient location39% work full-time while 31% are unemployed. of financial knowledge stems from their family & friends are only somewhat confident on their financial knowledge
  11. 11. Millennial WOC already have the cards stacked against them... Income ratios to less than a penny for every dollar earned by white counterparts2 Targeted by lenders for higher interest rates1 Highest amounts of student loans1 1. Sokunbi, B. (2020, June 15). Why Your Financial Well-Being As a Woman of Color is Critical. Retrieved August 06, 2020, from https://www.clevergirlfinance.com/blog/financial-well-being-for-women-of-color/ 13
  12. 12. Most vulnerable to health and financial hardships from pandemic1 Most likely to be essential workers Integral to economic stability of their families2 1. Cahn, N. (2020, May 24). COVID-19's Impact On Women Of Color. Retrieved August 06, 2020, from https://www.forbes.com/sites/naomicahn/2020/05/10/mothers-day-and-covid-19s-impact-on-women-of-color/ 2. Frye, J. (n.d.). On the Frontlines at Work and at Home: The Disproportionate Economic Effects of the Coronavirus Pandemic on Women of Color. Retrieved August 06, 2020, from https://www.americanprogress.org/issues/women/reports/2020/04/23/483846/frontlines-work-home/ …and the pandemic only makes it worse. 14
  13. 13. 15 Women of Color have less accessibility to education and financial literacy compared to other ethnic groups. We stand with Women of Color by doing our part to close the gap. Insight
  14. 14. Our Citi Girls will break through barriers. Imagine what Women of Color would achieve if they didn’t have the cards stacked against them. Big idea: Citi Girls Initiative 16
  15. 15. 17 The Internal Initiatives
  16. 16. Citi pay gap commitment 18 Citi will reaffirm the commitment to reduce pay gap and focus their efforts into hiring, retaining, and promoting WOC. 18 Gilchrist, K. (2020, January 17). Citigroup recorded a 27% gender pay gap so it hiked some women's wages. Retrieved August 07, 2020, from https://www.cnbc.com/2020/01/17/citigroup-reports-27percent-global-gender-pay-gap-announces-rebalancing.html
  17. 17. Citi Care for Citi Employees ● Remote work opportunities ● Extended 6 months parental/family leave to ALL employees ● Access to Mental Health services ● Monthly rewards incentive, i.e. gift cards 19 Female identifying Citi employees will be offered:
  18. 18. 20 Account Based Marketing Account based marketing will target Citi employees focusing on their unique perspectives and positions within the organization to drive marketing and communication efforts. &LinkedIn users are 70% more likely to engage with their company updates. Using LinkedIn to communicate the new internal initiatives allows Citi to drive awareness on how they’re driving an equitable recovery for their WOC employees. Owned Channels Arruda, W. (2014, Jan 7). Why Every Employee At Your Company Should Use LinkedIn. Retrieved from https://www.forbes.com/sites/williamarruda/2014/01/07/why-every-employee-at-your-company-should-use- linkedin/#4ae904573c38 Baker, K. (n.d.). The Ultimate Guide to Account-Based Marketing (ABM). Retrieved from https://blog.hubspot.com/marketing/account-based-marketing-guide
  19. 19. The Deliverables 21
  20. 20. Overview & Cultural Moments 22 Flight 1: March 1 - 28 Women of Color Day Women’s History Month Flight 3: May 24 - June 27 Flight 4: July 26 - Aug 29 African-American Women Equal Pay Day Flight 5: Oct 11 - Nov 7 Latinx Women Equal Pay Day Flight 2: April 5 - May 2 Equal Pay Day for Women Flight 5: Sept 6 - Oct 4 Native-American Women Equal Pay Day 1. Women's History Month. (n.d.). March is Women's History Month. Retrieved from https://womenshistorymonth.gov/about 2. Women of Color Day (n.d.). History. Retrieved from https://www.womenofcolorday.com/htdocs/origins.htm 3. Equal Pay Day. (n.d.). Join the Women's Rights Community: Demand equal pay. Retrieved from http://www.equalpaytoday.org/equalpaydays
  21. 21. OOH DMAs 23 Citi does not have many locations in the U.S. compared to their competitors. To effectively reach Citi employees and consumers, Out-of-Home ads will be placed in DMAs with the highest number of Citibank locations such as Los Angeles, San Francisco, Dallas, Chicago, New York, and Miami. SimplyAnalytics. (n.d.). Simply Analytics. Retrieved from https://app-simplyanalytics-com.ezproxy.lib.utexas.edu/index.html
  22. 22. 24 The External Initiatives
  23. 23. Reaching Millennials WOC in the U.S. to support them to greater levels of financial literacy so they can become the CFOs of their own lives. 25 ““ ““
  24. 24. How being your own Chief Financial Officer empowers women Security Independence Knowledge 26
  25. 25. You deserve financial security. You deserve equal wages. You deserve a bright financial future. You are your own advocate in the workplace. 27 Financial Women Empowerment You can achieve more than you thought possible when you’re in charge of your finances and your future.
  26. 26. 28 Continuous Media
  27. 27. Broadcast & OTT Cable and Satellite television are the go-to channels for Millennials during the pandemic. These targets are selective with programming, and are quick to opt into streaming services due to their “anytime, anywhere” approach. Placing ads on YouTube, Hulu, and most viewed news and entertainment TV channels will provide an avenue for Citi to emphasize their message of driving equitable recovery for working women during this year. 29Mitchell, T. (2020, May). Black Consumers and Media Consumption: Incl Impact of COVID-19 - US - May 2020. Retrieved from https://reports-mintel- com.ezproxy.lib.utexas.edu/display/986996/?fromSearch=%3Ffreetext%3Dmillennial%2520social%2520media
  28. 28. Search 30 To compete with their competitors, Citi can bid on competitive keywords and keywords that relate to this campaign’s initiative helping to increase their brand awareness throughout the year. Search
  29. 29. Relief Fund The COVID-19 pandemic hurt small businesses owned by women of color far more than other groups. Citi is committed to helping these small businesses impacted by the pandemic through our relief fund. Small business owners will have an opportunity to receive a grant towards their business through our application. 31Meyer, Z. (2020, June 08). Small businesses owned by women, people of color, and immigrants are harder hit by COVID-19. Retrieved August 07, 2020, from https://www.fastcompany.com/90514082/small-businesses- owned-by-women-people-of-color-and-immigrants-are-harder-hit-by-covid-19 41%of Black women were affected 32%of Latinx women were affected 25%of all women who owned small businesses were affected
  30. 30. 32 Flight 1 Awareness
  31. 31. Paid Social Paid Social will be used to start the first flight to align with Women’s History Month and raise awareness for CitiBank. Throughout the entire campaign, messaging will differ according to the cultural events the remaining flights are centered around. 33
  32. 32. 34 The Social Strategy
  33. 33. Among the various social platforms, Facebook, Instagram, Pinterest, and Youtube rank highest for female Citibank users.1 Our target audience escapes into Pinterest to pin, share and see how others cultivate their prosperity through boards. Citi will place ads promoting helpful blogs throughout the platform. YouTube offers a place for women to have more in-depth conversations surrounding female social issues, such as pressures of starting a family and the wage gap. 35 Pinterest YouTube 1. 2019 Spring GfK Reporter MRI. (2019). Women Who Used Citibank in the Last 12 Months. https://docs.google.com/spreadsheets/d/1saUqbP4VwNSaY3j8f- oPicLvm02zFPrD
  34. 34. Facebook offers a family dynamic that our target audience values. We will share workshops and offer resources dedicated to supporting women of color and their families. Instagram provides the most advanced advertising targeting option, allowing us to successfully promote our resources and events to our target audience. 36 Facebook Instagram 1. 2019 Spring GfK Reporter MRI. (2019). Women Who Used Citibank in the Last 12 Months. https://docs.google.com/spreadsheets/d/1saUqbP4VwNSaY3j8f- oPicLvm02zFPrDzO3c2AbsB2g/edit#gid=1097994979
  35. 35. CitiConnected Citibank will use its media platforms as spaces to celebrate days dedicated to supporting women of color. From Women of Color Day in March to Black Women’s Equal Pay Day in August, Citibank content will be dedicated to staying connected to women of color initiatives and issues. 37
  36. 36. 38 77% of internet users read blogs regularly. Creating a Citi girl blog will help Citi develop a personal brand and humanize our campaign. We will post recaps and key points from our workshops and podcast and then promote them on social media platforms such as Pinterest. Create a Website. (n.d.). Retrieved August 07, 2020, from https://www.quicksprout.com/corporate-blogging/ Blog
  37. 37. 39 Flight 2 & 3 Interest
  38. 38. Financial Workshop Citi wants to help you navigate a complex system that wasn’t meant for you. Let Citi be your guide to a brighter, financial future. 40 Financial literacy is important for people to understand how to make, manage, invest, and expend money. Bringing financial knowledge to women of color under the poverty line, re-entering society from prison, and in shelters allows Citi to reach individuals who have struggled as a result of institutionalized oppression. Workshops offer... • Financial literacy for next generation earners on university grounds. • Preparedness for students to have financial literacy they’ll need after the pandemic. • Incentivize small business owners during Covid- 19 with a grant raffle. • How to responsively take out loans.
  39. 39. 41 Online Financial Workshops
  40. 40. Out-of-Home Pairing billboards and transit ads with Spotify and Pandora will allow Citibank’s commitment to Women of Color to have maximum exposure. 42
  41. 41. CitiCare® Rewards Program are the primary or sole breadwinners for their families, compared with 37% of white mothers. 43 & This rewards program will reach mothers of color and show commitment to working women who also support their families. 1. Frye, J. (n.d.). On the Frontlines at Work and at Home: The Disproportionate Economic Effects of the Coronavirus Pandemic on Women of Color. Retrieved August 06, 2020, from https://www.americanprogress.org/issues/women/reports/2020/04/23/483846/frontlines-work-home/ 67.5%of Black mothers of Latinx mothers 41.4%
  42. 42. CitiCare® Rewards Program A new Citibank ThankYou® Rewards card that offers cash back rewards for child care merchandise. 44 Supports caregivers to help cover costs for products they’re already investing in: ● Cribs ● Baby formula ● Diapers ● Strollers ● Car seats
  43. 43. 45 Flight 4, 5, & 6 Consideration
  44. 44. Citi X Conferences Citi will be partner with women of color-focused organizations and appear at conferences such as CultureCon and ColorComm to bring awareness to the issue of financial literacy. 46
  45. 45. Citibank understands the importance of career readiness and the struggle that many Women of Color have. During CultureCon and other sponsored conferences, Citibank will hold a pop up section dedicated to preparing Women of Color to “Boss Up”. They will offer makeovers, business plan reviews, confident body language training, professional headshots and professional attire. Boss Up Pop Up
  46. 46. Co-branded Content 62% of Black consumers trust Black-targeted media outlets such as Blavity, NBCBlack, and Huff Post Black Voices. Creating content that offers authentic assistance resonates well with consumers. Aligning with online publications allows Citi to communicate the importance of empowering women through financial literacy. 48Mitchell, T. (2020, May). Black Consumers and Media Consumption: Incl Impact of COVID-19 - US - May 2020. Retrieved from https://reports-mintel- com.ezproxy.lib.utexas.edu/display/986996/?fromSearch=%3Ffreetext%3Dmillennial%2520social%2520media
  47. 47. Audio: Streaming Services Citibank will be placing audio ads on free streaming services such as Pandora and Spotify. African-American and Latinx Millennials utilize free streaming services1 such as Pandora and Spotify2 multiple times a day. 49 1. Mitchell, T. (2020, May). Black Consumers and Media Consumption: Incl Impact of COVID-19 - US - May 2020. Retrieved from https://reports-mintel- com.ezproxy.lib.utexas.edu/display/986996/?fromSearch=%3Ffreetext%3Dmillennial%2520social%2520media 2. Ruiz, J. (2020, Jun). Marketing to Hispanic Millennials: Incl Impact of COVID-19 - US - June 2020. Retrieved from https://reports-mintel- com.ezproxy.lib.utexas.edu/display/987038/?highlight Radio Ad: “WAP”
  48. 48. Black podcast listeners skew toward women 18-34 in middle- class income households. These consumers are willing to invest in personalized brand messaging that adds to the experience. Citibank will be the main sponsor of a podcast and partner with influential women in business and entertainment sectors, such as Jamila Souffrant, Michelle Obama and Tabitha Brown, to educate Millennials of the importance of financial literacy. 50 CITI GIRLS Podcast 1. Mitchell, T. (2020, May). Black Consumers and Media Consumption: Incl Impact of COVID-19 - US - May 2020. Retrieved from https://reports-mintel-com.ezproxy.lib.utexas.edu/display/986996/?fromSearch=%3Ffreetext%3Dmillennial%2520social%2520media
  49. 49. 51 Experiential: Citigirl Live 51 Citi Field in Queens, NY will be used to host our Citigirl Live event, a social-distanced concert focused on uplifting and empowering millennial woc by providing an entertaining outlet . Usually holding over 40,000 people the space will accommodate according to local CDC guidelines. 50
  50. 50. 52 Media Calendar
  51. 51. 53 1. Morrow, S. (n.d.) Cost of Marketing II: Advertising on cable TV. Retrieved from https://www.legalzoom.com/articles/cost-of-marketing-ii-advertising-on-cable-tv 2. Google Ads. (n.d.) Google Ads. Retrieved from https://ads.google.com/home/ 3. Blue Line Media. (n.d.). Subway Ads. Retrieved from https://www.bluelinemedia.com/subway-advertising#rates 4. Blue Line Media. (n.d.). Subway Ads. Retrieved from https://www.bluelinemedia.com/billboard-advertising#rates 5. Social media advertising costs in 2020 (n.d.). Retrieved from https://www.webfx.com/how-much-does-social-media-advertising-cost.html 6. Podcast Advertising Rates 2020 (2020). Retrieved from https://www.advertisecast.com/podcast-advertising-rates 7. McNiel, T. (2018, Jun 1). RTB Audio Ads on the Rise: Pandora Versus Spotify. Retrieved from https://www.acquisio.com/blog/innovation/rtb-audio-ads-pandora-vs-spotify/ 8. Social Tables. (n.d.). Conference Cost Estimator: Large-Scale Event Expenses You Need to Know to Budget Right. Retrieved from https://www.socialtables.com/blog/event-planning/conference-cost-estimator/ 9. Montgomery, E. (n.d.). So You Want To Sponsor A Conference? The Ultimate Guide for Startup Marketers. Retrieved from https://highalpha.com/so-you-want-to-sponsor-a-conference-the-ultimate-guide-for-startup-marketers/#:~:text=You%20might%20pay%20%24100%2C000%20or,at%20a%20constrained%20marketing%20budget. Budget Breakdown
  52. 52. Measurement Citi hopes to drive awareness of its commitment to gender equality, and engage its audience to sustain participation over time. Citi will use social listening to analyze the public perception of the campaign. Using in- platform analytics for their social channels will illustrate how well Citi is performing. Additionally, Citi can analyze Google Trends and Google Analytics to see their increase in number of searches and increase in website visits. Citi will use measurement partners such as Millward Brown or Nielsen to analyze brand attributes throughout the year ensure WOC’s financial literacy allyship. 54
  53. 53. 55 Social Out-of-Home Audio Television Events Experiential Digital & Search Clicks, website visits, impressions, shares, new followers/subscribers Impressions Impressions Event attendance, on- site sign-ups Clicks, website visits, impressions Online Searches Impressions Key Performance Indicators
  54. 54. break these boundaries 56 Join us in watching our
  55. 55. 57 Thank you

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CitiBank deck by Team 23 under MAIP 2020.

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