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Choose to Win.Choose Wells
Fargo.
Lee Freeman Lyles ArmourAimee Hruska Juana Treto Stephanie
Miller
Promotion Opportunity
Analysis
Communication Analysis
Competitive & Positioning Analysis
Opportunity Analysis
• College Students– According to St. Petersburg Times, students
are being denied more and more loans– Important Decisions
• Recent Graduates– Currently making Important Decisions– Likely to stay with chosen bank for many years
• Wells Fargo’s Current Marketing
Customer AnalysisGeneration Y
• Easily Bored• Tech-Savvy• Brand-Sensitive• Not as Responsive to Traditional
Marketing
Strategy
Objectives
Campaign Objectives
– Increase foot traffic by distributing scratch cards to new and existing Wells Fargo customers during the six week period starting 01/10/10.
– Receive 24,760 extra visits from customers by distributing over 3 million scratch cards
Target Market
College Students– 4-5 years away
from biggest financial commitments
– Wells Fargo = Preferred Bank
Recent College Graduates– College Graduates
have higher average income
– Beginning to make important financial decisions
– Value, safety, and financial incentives will be extremely appealing
• Important financial decision are made during major life changes
•Car loans, home loans, student loans
StrategiesMarket
Segmentation• Further segment– Current customers • Bank Statements,
mail, and online log-in screens
– Qualified Prospects• Direct mail• Street Team on
campuses
Implementation• January 10, 2010,
ending February 22, 2010 – College seniors
graduating• Car and home
loans– Spring Break and
Summer plans• Funds
Consumer Attitudes
Cognitive Affective Conative
• Cognitive: Wells Fargo Bank: need recognition and/or brand awareness
• Affective: Unique and exciting scratch ticket with financial incentives– grand prizes = socially desirable products/luxury goods
• Conative: Consumer finds enough positive reasoning to act upon
those attitudes and emotions and participate in the promotion
Product Positioning
• Strong and unique image – Scratch card same image• Creates exciting and mysterious way to
appeal to these customers
• Competition– Offering financial incentives as well• Wells Fargo offers additional incentives
(points, fee forgiveness, TVs, car etc.)• Creates superior product position
Prizes / Incentives
• Prizes– 2010 Toyota Prius– TV– Las Vegas Trip– Reward Points– ATM Fee Waiver– Overdraft
Forgiveness
Tactics
Tracking & Measurement
Media Sources
• Mail– Direct mail
Scratch Tickets– Insert with
customers’ bills
• Street Team– Campus handouts
• Signage– Banner– Posters (college
campus)
• Internet – Facebook– Twitter– Wellsfargo.com
• Restaurants– Local
Media Sources
WEEK 1 WEEK 2 WEEK 3 WEEK 4 WEEK 5 WEEK 6S M T W T F S S M T W T F S S M T W T F S S M T W T F S S M T W T F S S M T W T F SMEDIA CHANNEL
Internet• Facebook• Twitter• WF Message Screen
Mail• Existing Customers• New Customers
Outdoors• Street Team
Hanging Ads• Posters• Banners
Business-to-business• Restaurants
Radio• (station name needed)
KEY:Heavy - MajorityMedium - BackgroundLow – When needed
Tracking & Measurement
Media Source Code #
Direct Mail DM – 112233
Direct Mail (Billing Statements) DMB – 223344
Campus Handouts (Street Team) HA – 445566
In-Store Tickets IN – 667788
Restaurants RE - 112200
Media Sources
Public Relations
Public Relations
Inform all employees – Training– A company
newsletter– A PR release
(within the company)
– Information in the break room
Stakeholders:– Employees– Stockholders – Front Range
community/customers
Proactive PreventionStrategies:
– Clear rules about invalid cards
– Conflict management training
Budget
Tickets for Recent Grads $85,707.28Tickets for College Students $34,828.12Tickets for Existing Customers $24,585.53Tickets for Everyone Else, Restaurants $6,519.58Reward Points (Tiered) $24,760.18ATM Fee Waivers $18,322.53Overdraft Forgiveness $8,253.39Toyota Prius $18,000.0042" TVs $16,499.70Las Vegas Trip $372.00Promotional Posters $1,600.00Storefront Banners $5,100.00Admin. Costs and Extra $5,451.67Total $250,000.00
Total Visits Generated 24,760Cost Per Generated Visit $10.10ROI Total $7,673,180.43
Wells Fargo
Choose to Win.