This is presentation of an advertising campaign idea put together by a team, myself included. The goal of the campaign was to generate 2,000 incremental accounts.
2. GENERAL OVERVIEW
Bring in 2,000 incremental checking accounts
People generally don’t like banks
Wells Fargo, while conservative doesn’t have a super
positive image
Bank of America has especially bad image now
$5 fee for using debit card
Chase and others have better offers
Free checking
iPod giveaways
Wells Fargo has done way better during these hard
financial times when compared to the competition
3. CAMPAIGN OBJECTIVES
Increase overall awareness of the Wells Fargo college checking accounts
Increase sales of all of Wells Fargo accounts
Increase brand recognition
Create awareness in parents of high school seniors that are looking to open an account for their
student.
Traffic into Wells Fargo branches should increase during the months of the campaign
Time of year when most students are signing up for their first real checking account
Increasing awareness of the college checking account is done through our
entire advertising campaign and our promotional activities.
financial seminars that will be given across Colorado at the local high schools
Give parents and students financial tips for college
Help improve the image of Wells Fargo and help push them towards Wells Fargo due simply to familiarity
The large overall goal of the campaign is to bring in 2,000 incremental
checking accounts.
4. CAMPAIGN OBJECTIVES
Increase sales of their other products simply because the parents are in the
branch
Create a life time customer in the student and parent if they aren’t already
High quality service and great customer service.
Not the main objective of the campaign
More products from these students as time progresses.
Increase brand recognition and help create a better image
Important for banks at this time.
People don’t trust banks and currently don’t have a very good view of them
Create leverage against competition
5. WELLS FARGO TARGET MARKET ANALYSIS
• Incoming college freshman in Colorado
• Market primarily to their parents, then directly to the students because the
parents generally still have such a strong influence on their kids
• In particular, we will market to those with freshmen going to Colorado
colleges.
• UNC
• CSU
• CU
• Metro
• Etc.
• Usually 17-18 years old
6. OUR TARGET MARKET
Parents of high school seniors
Ranging from late 30’s to late 50’s
Want to see their child succeed
Financially
Studies
Range all income levels
Everyone is going to college these days with loans and grants
7. SWOT ANALYSIS
Strengths:
Offer many service
Large amount of assets
Many locations
Many ATMs
Friendly staff
Well established brand
8. SWOT ANALYSIS
Weaknesses:
Large customer base (No personal relationships)
High fees
Bad image as a large bank
Don’t reach some big market segments
Not all locations can do everything
9. SWOT ANALYSIS
Opportunities:
Use there well established brand to capture younger market
Leverage the fact that they can offer more services than other
banks
Show that they have the best customer service and friendly
staff
Leverage the fact that they have so many ATMs and locations
that people do not have to travel far, especially college students
Show how they fared better against other banks through this
economic crisis
10. SWOT ANALYSIS
Threats:
Smaller banks can have better personal relationships with
customers
Other banks are focusing on free services
Can’t offer large giveaways like other banks can
Some locations can’t do everything maybe driving customer to
a bank that is closer
Seen as “my parents bank” and would switch to a “younger”
looking bank
Not as many high tech services like other banks
11. STRATEGIES
Financial seminars at high schools
Advertise:
Good Housekeeping
Newspapers
Promote through Facebook.
Our tagline:
“Here for them even when you’re not ”.
We want the parents to know that their children are going to be in
good hands when it comes to banking.
WOM among satisfied customers
Free & highly effective
Incentives:
2-for-1 ski pass deal
Financial calendar
14. STRATEGIES
Reach the maximum number of potential
customers with our budget
Consumer’s evoked set
Start our campaign in February
Students are applying for colleges
Looking to get ready for college
Buying dorm supplies
Setting up accounts
15. STRATEGIES
9 areas of Colorado that produce the largest amount of instate college
students:
Boulder
Centennial
Colorado Springs
Fort Collins
Greeley
Highlands Ranch
Lakewood
Littleton
Parker.
300 high schools across Colorado
Large high schools in those areas
Send Wells Fargo representative to local high schools with branch in
the same city
161 branches across Colorado
Only go 20 miles outside city limits to schools that don’t have a Wells Fargo branch in
city limits
16. STRATEGIES
Financial seminar
Open to the parents and students (seniors)
Enlighten them to the Wells Fargo College checking account
Other topics
Credit card debt
Student loans
Identity theft
Q&A
NOT A SALES PITCH!
17. ADVERTISING
Facebook
Fastest growing group of Facebook users
High school seniors are the largest group of Facebook users
A place for information
Good Housekeeping
Large distribution in Colorado
239,500
Targeted towards parents especially towards moms
Moms tend to be the parent that helps the student set up the account
Newspapers
Still being read by our target audience
Steady message over 6 months all across Colorado
18. EVALUATION
Good Housekeeping
Cost per thousand
Page rate/(Circulation ÷ 1,000)= CPM
$10,095/(239,500 ÷ 1,000)=$42 CPM
Number of times our ads will be seen
Greeley Tribune 1,536,000
Fort Collins Coloradoan 1,800,000
Denver Post 64,656,000
Grand Junction Daily Sentinel 2,028,000
Boulder Daily Camera 2,106,000
Good Housekeeping 239,500
3 3x4 ads run per week in 5 different papers which adds up to 366 ads over 6
months.
Circulation:
Greeley Tribune 20,000 Daily & 22,000 Sunday
Denver Post 694,000 Daily & 1,000,000 Sunday
Grand Junction Daily Sentinel 26,500 Daily & 29,000 Sunday
Boulder Daily Camera 27,000 Daily & 30,000 Sunday
19. BUDGET
Newspaper ads
3 3x4 ads run per week in 5 different papers at $11 per column inch,
366 ads over 6 months.
$9,504 per paper for a grand total of $47,520
Facebook
Swift Digital Facebook management
Design of new college checking account Facebook page
Premium design package
$1,250
Facebook monthly management
Platinum management package
$850 per month for 6 months
$5,100 for 6 months
20. BUDGET
Magazine ads
Good Housekeeping
5th most popular magazine in U.S.
1/3 page 2 color
Regionally distributed
Colorado-239,500 copies
$10,095
Financial calendars
Zazzle.com
$9 per customized calendar
4,003calendars
$36,027
21. BUDGET
$100,000 budget
Newspaper ads $47,520
Facebook design $1,250
Facebook management $5,100
Good Housekeeping ad $10,095
Financial calendars $36,027
Grand total $99,992