Wells Fargo (Integrated Marketing Campaign)

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.