1. Mobile Banking Application IMC Campaign Plan Brittany McKinney, Account Manger Nick Bridgers, Copywriter Brent Schneider, Art Director
2. Company Information Opened March 1st, 1898 as Bank of Smithfield in Johnson county Headquarters located in Raleigh, NC CEO is Frank B. Holding, Jr. Employees over 5,000 Services 200 cites in 9 states 380 branches $21 billion in assets Focuses on personal approach
3. Services Offered Personal Products and Services Checking Savings Credit Cards Mortgages and Loans Investments and Wealth Management Insurance Business Products and Services Checking and Savings Credit Cards Loans and Financing Insurance Merchant and Treasury services Corporate and Nonprofit services
4. The Mobile Banking Application First Citizen's Bank will launch a Mobile Banking Application on October 1, 2011 Application will be downloadable to iPhone users, and will also be able to be accessed by other SmartPhone users by visiting the mobile banking website BNB Media’s campaign will run for 6 months April 1, 2011 through September 30,2011
5. Objectives By the time the application is launched, we would like to achieve 40% awareness of our target audience with a frequency of 5 the majority of our campaign. (During pulsing, 7 and 8) First Citizen’s Bank would like to achieve 50% trial usage by their customers within one year of the launch, and 80% trial usage within 2 years of launch. First Citizen’s Bank would like to achieve 30% regular usage by their customers within the first year of the launch of the application, and 50% regular usage by our customers within 2 years of the launch. First Citizen’s Bank wants to have a 3% customer growth in the company within 2 years of the launch of the mobile banking application.
7. Target Market Overview Adults between the ages of 35-45 (Gen X) East coast Median annual household income around $50,000 to $80,000 Hold a four-year degree While collar professional career Have children
8. Target Market Profile Stacy Smith 37-year old accountant Lives in Virginia Married and has two kids, a 10 year-old son and a 7 year-old daughter Works full time Takes kids to pratices and extra curricular activities Likes to watch FOX News, and Dancing with the Stars Reads magazines like Bloomberg Businessweek and Better Homes and Gardens She drives a Toyota Sequoia She has a Blackberry Buys her clothes at Nordstrom and Banana Republic Aspirational Brands Lexus,Merecedes, Chanel, Dolce and Gabbana,
9. Target Market Profile Mike Brown 40-year old accountant who lives in North Carolina Married and has a son who is 12-years old Works long hours Coaches his son’s little league team Enjoys watching ESPN, CSI, Fox News Reads Wall Street Journal Likes John Grisham books Drives a Chevy Tahoe Wears clothes from Jos A. Bank Aspirational Brands BMW, Armani, Hugo Boss
10. Creative Strategy Campaign Theme: Mobile Banking On The Go Informational/Rational Appeal Straight-sell execution Features and benefits Use of Imagery Quick glance or listen of ads will convey message quickly and effectively Will show what application will look like and what you can do with it
11. Creative Brief Brand- First Citizens Bank Product- Mobile Banking Applications Positioning Statement- Were your safe, family-owned, personal banking solution. Key Fact- We are launching our new mobile banking solutions for our customers. Through advertising and promotion we have to raise awareness and usage of mobile banking applications Target Audience- 35-45 business professionals with families
12. Key Promises Your information and finance security is our top priority. Our mobile banking application is just as secure as face to face banking. Using our mobile banking application will save you time. Because of the value of our relationships, we will cultivate them through mobile banking.
13. Call to Action Try our new mobile banking solutions today We aim to not only have our customers aware of our new product, but try it out as well After seeing, hearing or reading our ads, we would like our audience to download the mobile banking application or go to the website to try it
14. Communication Tools Print Media Newspapers Banners Broadcast Media Radio Outdoor Media Billboards Public transit benches Mobile billboards Internet Google Adwords Banner Ads Facebook Email Direct Mail Flyers sent in bank statements
15. Print Media- Banners Banners Chosen to hang in 250 First Citizens Branches Cost- $113 per banner Total cost- $28,250
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17. Print Media- Magazines Bloomberg Businessweek Once a month April through September Total Cost- $166,800 CPM- $185.61 Forbes Once a month June through September Total Cost- $364,960 CPM- $655.00 Business NC Once a month April through September Total Cost- $38,278 CPM- $185.62, $256.97 Total Cost- $570,038
18. Print Media- Newspapers Washington Post Every Sunday Total Cost- $244,894 CPM- $11.14 News and Observer Every Sunday Total Cost- $70,044 CPM- $13.85 Wall Street Journal Every Sunday Total Cost- $272,038 CPM- $13.41 Sun Sentinel Every other Sunday Total Cost- $76,284 CPM- $22.28 Total Cost- $663,260
19. Broadcast Media Country and Rock radio stations based in: DC/VA 30 sec. ad- $396 Weekday mornings and evenings NC 30 sec. ad- $108 Weekday mornings and evenings FL 30 sec. ad- $194 Weekday mornings and evenings WV 30 sec. ad- $48 Weekday mornings and evenings Total Cost- $129,096
20. Outdoor Media- Billboards Stationary billboards July though September Locations in major areas with a lot of traffic Charlotte, NC CPM- $2.50 Raleigh, NC CPM- $9.00 Fredericksburg, VA CPM- $1.71 Richmond, VA CPM- $3.15 Total Cost- $246,401
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22. Outdoor Media- Mobile Billboards Will run the month of September (last 4 weeks of campaign) Locations Washington, DC Charlotte, NC Raleigh, NC Annapolis, MA Miami, FL Total Cost- $60,800
23. Outdoor Media- Bus Benches Will run in September (last 4 weeks of campaign) 75 benches for each transit system Washington, DC/VA Metro Charlotte, NC CATS Raleigh, NC CAT Total Cost- $60,000
24. Internet Media Google AdWords $20,000 Budget E-mail Current customers Facebook FCB Website Roadblocks Banner ads
25. Total Campaign Budget Print Media $1,621,548 70.9% Outdoor Media $367,201 20.6% Broadcast Media $129,960 7.3% Internet $20,000 1.1% TOTAL: $1,778,709
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27. Evaluation Measure objectives by Number of downloads of the application Number of hits on mobile banking website Increase in client base
28. Conclusion Ultimate goal is to promote the Mobile Banking Application to target market by advertising benefits with an information appeal Use of ad in newspapers, magazines, banners, billboards, radio, Internet, and direct mail will ensure that we effectively reach the target market Communicating to target market that we have designed a product just for them to make banking easier, reinforcing reputation for valuing relationships with customers Campaign will be considered successful if: Awareness by target market is 40% by the start of the campaign Achieve 50% trial usage within 1 year Achieve 30% regular usage within 1 year Client base grows by 3% within 2 years