MoneyGram Draft Report v3

8/8/2019 MoneyGram Draft Report v3

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Objectives:

o To create awareness and promote acquisition of MoneyGram’s remittance services among 

targeted MLBs by communicating it’s benefits in terms of quick and hassle-free money 

remittance service offerings that are more convenient to use, flexibileflexible, reliabilereliable,and affordable. This will also create an effort to incentivize targeted customers to  switch toMoneyGram and further spread the “buzz” or word-of-mouth amongst their peerstheir peers. The goalis to increase new money transfer customers by 5% within the first 3 months of the campaign startingfrom Oct. till Dec of the year on account of increased seasonal demand for money remittance servicesduring these 3 months.

o To facilitate retention and develop a longstanding customer relationship with the adapters of 

MoneyGram’s remittance service through the initial offer and post-service customer relationshipmanagement. Our goal is to maintain atleastat least 80% of our newly acquired customers incustomersin the next quarter.

Target Respondents:

o The targeted MLB is the housewife or mother of the Overseas Filipino Workers (OFW’s) becausethey are the key decision influencers in choosing a particular remittance service provider. Other than thesafety and reliable service delivery of the money transfer, they are also concerned with the quickness ,convenience, hassle-free receipt of the remittance.

o They can be characterized as someone who resides in the rural or urban areas; female between 25 to

60 years old; full nest I to empty nesters; lower class to middle class; family-oriented, careful in buyingnew products and looks for best quality and best price; draws references and are influenced by friendsand peers; social roles: follower or supporter; seeks benefits such as trust, convenience, satisfactionand reliability; does research before making buying decisions; user status: potential user to regular user; moderate to heavy usage rate; readiness stage: informed, interested or intends to buy.

o The MLB list will be sourced from the database of OFW wives/dependents organizations such as Samal

Island Filipino Overseas Workers and Dependents Multipurpose Coop. (SIFOWDEMCO), UnitedSeaman's Wives Association of the Philippines, Inc. (USWAPI), Brgy Pampanga Overseas FilipinoWorkers and Dependents Association (BPOFWDA), etc.

Components of the Offer:

o Convenience:

It will only take as fast as 10 mins to send and receive the transferred amount;

Simple in Procedure, no need bank accounts and credit card to send the money to the receiver.

Global reach and extensive network with 203,000 agents around the globe.

o Personalized services:

Free, multi-lingual customer service available 24/7

Can add a complimentary 10-word message together with the money transfer;

o Price: Service fee is 30-40% more affordable than nearest competitor ($6-$10 per transaction vs. $10-

$24 by rival company) Senders receive free calling card to notify the recipient.

8/8/2019 MoneyGram Draft Report v3

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o Risk Reductions: includes insurance/delivery guarantees and testimonials from existing product users

and switchers.

o Incentive / Hook: 

o We offer customer loyalty program bundled with free del-monte Christmas basket limited to only first 

1,000 respondents.

o Customer loyalty program of MoneyGram is way for us retain the customers by means of giving

discounts on transaction fees. The eligibility of this loyalty program is valid when new customers wereable to use our services for minimum of 5 transactions within 3 months period.

o

o

o offer Lottery program: For every money transfer transaction from October to December 2010, receiver 

will get a lottery stamp to have a chance to win one of 1,000 Christmas basketsguaranteed enrollmentapproval and free membership to MoneyGram’s Rewards Program to avail of special perks such asdiscounts on Money Transfer Fees and other special services. Also include free gift items to the 1 st 100respondents (i.e. travel kit, luggage, etc.)

Tagline: “Simple, Madali, Mabilis, Maaasahan.” (“Simple, Convenient, Fast, Reliable”) 

Timeline: 

2nd week of September 2010: Put the print ads in selective media such as billboard, participating agentsnationwide, and available in selective groceries stores & Sari-Sari Markets.

1st Week of October 2010: Sending out the Direct Mail