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In Banks We Trust

In Banks We Trust. Taylor Havlisch & Emily Pasi. Campaign for Nittany Bank January – April 2012. The Problem. Lack of trust in the banking industry Target: State College banks Contributors: Mortgage crisis Madoff scandal Remaining lack of transparency

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In Banks We Trust

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  1. In Banks We Trust Taylor Havlisch & EmilyPasi Campaign for Nittany Bank January – April 2012

  2. The Problem • Lack of trust in the banking industry • Target: State College banks • Contributors: • Mortgage crisis • Madoff scandal • Remaining lack of transparency • Grassroots movements (i.e. Occupy)

  3. News Media Analysis • Content analysis of national/local news media for National Penn and Nittany Bank for three month period • Results of media analysis for Nittany Bank/National Penn: • 259articles published • 97% came from outside news sources • 82% of articles mentioning Nittany Bank or National Penn had a positive tone • 63% had a positive tone toward the banks specifically • 58% of articles on finance and earnings

  4. News Media Analysis • Results as compared to other participating State College banks (on average):    • 93 articles garnered between the 11 participating banks • 7 banks received local media coverage • 61% of articles written on State College banks were mostly positive • 33% of articles written on State College banks were on finance and earnings

  5. Social Media Analysis • Facebook • “Nittany Bank, Division of National Penn” • 87 Likes • “Nittany Bank Nookie Monster” • 236 Likes • Only two posts (January to April)

  6. Social Media Analysis • Twitter, @Nittany Bank • Profile picture: Ed Conklin • Homepage link available • Posts are infrequent: Sept., Oct., January

  7. Social Media Analysis • Nittany Bank Blog, Networked Blogs • Most recent post, 2 years ago • Enrollment in Visa Extras • YouTube • No channels • Video presence: Nookie Monster Spikes promo

  8. Social Media Recommendations • Facebook • Include friendly employee profile picture • More consistent posting • Post interactive questions • (i.e. “Fill in the blank: I volunteer in my community by_________.” • Post more photos, especially Nookie Monster • Provide links to homepage and other social media accounts

  9. Social Media Recommendations • Twitter • Clarify who maintains account • More frequent and consistent tweets • Use hashtags • Follow local businesses and other groups with ties • Interactive posts (i.e. questions and games)

  10. Social Media Recommendations • Blog • Provide link to company homepage • More frequent and consistent posts • Posts provided by multiple employees • Post about current events in industry and Nittany Bank community involvement

  11. Social Media Recommendations • YouTube • Create own YouTube channel • Document future events, edit footage into clips • Content can include employee spotlights, Nookie Monster promos

  12. Pre-Campaign Survey Results:State College Community Members • 50% agreed/strongly agreed to trusting the banking industry to do what is right • 34% had a quit a lot/great deal 0f confidence in State College banks • 32% agreed/strongly agreed they were aware of State College involvement in community service

  13. Pre-Campaign Survey Results:State College Community Members • 33% agreed customer service was the most important aspect of a bank • 43% agreed using social media would benefit banks • 47% felt media negatively affected their perception of the banking industry

  14. Pre-Campaign Survey Results:State College Community Members • 43% of respondents who were members of a local bank, agreed customer service was the most important aspect of a bank • Strong positive correlation between “I believe to treat people fairly and justly” and “I trust banks to do what is right”

  15. Pre-Campaign Survey Results:State College Community Members • 52% agreed/strongly agreed to trusting local banks more than national banks • Of those community members who agreed social media would benefit banks, 69% said media either positively or negatively affected their perception of banks

  16. Pre-Campaign Survey Results:Penn State Students • 73% agreed/strongly agreed they trust banking system to do what is right • 40% had quite a lot/a great deal of confidence in State College banks • 67% disagreed they were aware community service done by State College banks

  17. Pre-Campaign Survey Results:Penn State Students • 30%agreed customer service was the most important aspect of a bank • 51% agreed/strongly agreed social media use can benefit banks

  18. Pre-Campaign Survey Results:Penn State Students • For those that agree media positively influences their perception of banks, 81% agreed/strongly agreed social media use is beneficial • Strong positive correlation between “I trust my bank to do what is right” and “My bank is responsive to my customer service needs”

  19. Pre-Campaign Survey Results:Penn State Students • Significant effect of type of primary bank on level of confidence in banks • Respondents who have a national bank as their primary bank have a slightly higher confidence in banks.

  20. Campaign Goals and Objectives • Goal: To improve the overall trust of banks in State College • Objective 1: To be involved in events between February 15 and April 15, 2012 for the banks the class is working with this semester • Objective 2: To obtain positive media coverage about the State College banks by April 15, 2012

  21. Campaign Goals and Objectives • Objective 3: To spread the word about the community efforts of State College banks to at least 10 percent of the student body at Penn State’s University Park campus by April 15, 2012 • Objective 4: To increase the State College community’s awareness of the community service efforts of banks in State College by 15 percent

  22. Campaign Goals and Objectives • Objective 5: To increase Penn State students’ awareness of community service efforts of bank in State College by 15 percent • Objective 6: To increase the community members’ level of confidence in State College banks by 15 percent • Objective 7: To increase Penn State students’ level of confidence in State College banks by 15 percent

  23. Event Goals and Objectives • Goal: To host a successful semi-annual Community Shred Event on Saturday, April 28, 2012 • Objective 1: To increase attendance at the Community Shred Event by 30 percent more than last year’s event • Objective 2: To enroll ten new customers in the Nittany Bank E-Statement services during the Community Shred Event

  24. Campaign Strategies • Plan and execute bank events • Media push • Campus and local publicity

  25. Campaign Tactics • Fact and lollipop distribution State College banks completed 7,313 hours of community service in 2011. Tweet this fact to @ITrustBanksPSU for a chance to win a $25 Amazon gift card! • Press release to Centre Daily Times • Sandwich board display • Fact published in HUB publication

  26. Campaign Tactics • YouTube video • Social media contest • Twitter @ITrustBanksPSU

  27. Event Strategies • Secure coverage of event • Inform attendees at event of E-Statement services

  28. Event Tactics • Media list • Press release • Radio news release • Community calendar posting

  29. Campaign Evaluation • Objective 1: To increase the State College community’s awareness of the community service efforts of banks in State College by 15 percent • Objective was met, 15% increase • Objective 2: To increase the level of confidence among State College community members in State College banks by 15 percent • Not met, but still increased by 13%

  30. Campaign Evaluation • Objective 3: To increase Penn State students’ awareness of community service efforts of bank in State College by 15 percent • Objective was met, 24% increase • Objective 4: To increase the level of confidence among Penn State students in State College banks by 15 percent • Not met, still an increase of 9%

  31. Campaign Evaluation • Objective 5: To be involved in events between February 15 and April 15, 2012 for the 11 banks the class is working with this semester • Not met, involved with five • Objective 6: To obtain positive media coverage about the State College banks by April 15, 2012 • Not met, not coverage as whole but individually

  32. Campaign Evaluation • Objective 7: To spread the word about the community efforts of State College banks to at least 10 percent of the student body at Penn State’s University Park campus by April 15, 2012 • Objective was met, estimated final total of students reached was 6,344

  33. Campaign Limitations • Limited amount of time to implement • Unable to secure HUB table • Did not get full participation of all of the banks a part of the campaign

  34. Event Evaluation • Objective 1: To increase attendance at the Community Shred Event by 30 percent more than last year’s event • Objective was met, increased by 400% • Objective 2: To enroll ten new customers in the Nittany Bank E-Statement services during the Community Shred Event • Objective was not met

  35. Event Evaluation • Secured Coverage: • 3WZ (95.3 FM) • Centre Daily Times calendar • Voices of Central PA calendar • Central PA Visitors’ Bureau calendar • Centre County Gazette • StateCollege.com calendar • nittanyliving.net • Centre County Gazette calendar • WTAJ-TV calendar • WJAC-TV calendar • WWCP-TV calendar • WeAreCentralPA.biz calendar

  36. Event Limitations • Need designated individual to document event • Prepare for overload of shredding truck • Objectives to focus on shred amount and money raised

  37. Stewardship Plan:Campaign • Intermittently run smaller scale campaigns to remind community members/Penn State students of the positive aspects of banks • Emphasize community outreach efforts across the State College community • Provide marketing staff to write annual report

  38. Stewardship Plan:Event • Emailing to available addresses • Follow-up “thank you” email to available addresses • Helpful banking tips, document storage tips • Invitations to upcoming community events • Nookie Monster appearances and updates

  39. Conclusion • Used “In Banks We Trust” slogan to improve image of State College community banks • Penn State students/State College community members targeted for campaign • Level of trust and confidence measured before and after campaign implementation • Not all objectives met, but data shows overall increase in level of trust among students and community members

  40. Thank you!

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