BBVA Compass

BRIGHT
Meredith Taylor, Sydney James,
Rachel Scott & Allison Lewis
Agenda
● Meeting Objectives
● Research
● Concept and Solution
● PR Recommendations
● Social Media Recommendations
● Next Steps
Executive Summary Increased
exposure

Definite point Consistency

of Opportunities across SM
differentiation platforms

Explicit target
market
 Assessment of Current Situation
Strengths Weaknesses Opportunities Threats
❖ Mission and values ❖ Social media ❖ Increase awareness ❖ Low awareness of
❖ Unique branding engagement among millennials Bright campaign
❖ Top 25 national (especially among ❖ Millennials’ financial ❖ Competition with
bank, one of the millennials) situation other banks
largest regional ❖ Rewards/ other ❖ New partnership & ❖ Millennial lack of
banks enticements for influencer trust in institutions
❖ Strong partnerships millennials possibilities ❖ Challenge of
❖ Tech advancements persuading
➢ Mobile customers to switch
banking app banks

https://www.federalreserve.gov/releases/lbr/current/
 Competitors
- Chase (Sapphire)
- Social media presence
- Engages millennials
- Tech advances
- Wells Fargo
- “Done” campaign
- Bank of America
- Moving their focus to
digital
- American Express
- Local banks
Research Findings
Secondary Research

● What do Millennials value?

○ Experiences
○ Opinions and inspiration
of peers
○ Supporting a cause
○ Authenticity, mobility, and purpose

Frankenberry, A. (2017, Jan 26) How Can Banks Build Brand Trust with Millennials? Retrieved from https://www.blueskyeto.com/building-financial-brand-trust-millennial-marketing/
Verdone, M. (2015, June 24) How to be Hip: Big Banks Can Market to Millennials. Retrieved from http://adage.com/article/cmo-strategy/hip-ways-banks-market-millennials/299176/
Research Findings
Primary Research

● What is a “Bright” experience?

○ A happy experience
○ Something exciting, positive, or enlightening

● Millennials value accessibility and customer service most in their banking

experience
● Most millennials use their current bank because of their parents
● When asked whether they would switch banks, the majority of millennials
would only switch in an effort to get better rewards
Concept and Solution
BBVA Bright Futures
● Bright Futures is a
campaign aimed at
creating opportunities for
bright futures

● Working to bring bright

Futures to life. “One person.
One family. One company.
One community at a time”
Solution 01

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03 02
Improve Presence on Social Media
Methods
Rebrand and Revise Name
● Revise the name to Live Bright
● Position the Live Bright campaign as an incorporated part of the banking experience with BBVA
Compass, building an online community of customers who are engaged in sharing their bright
experiences
Social Media Posts
● Looking to create a more sleek and mature feel on SM platforms
● Emphasize lifestyle by displaying pictures of travel, food, fashion and free-time adventures
● Create consistency by posting every 3-5 days- structure and relevancy
● Instagram challenges with the incentive of local discounts
○ #Livebright, #bebright, #brightmoments
● Sponsor local events and provide snapchat geofilters
Partnerships
● Develop relationships with local businesses-offering free promotion in exchange for
partnership with rewards program
Community Building Philosophy
“To inspire and collectively influence the
community of millennial individuals to
pursue passions, take risks, and live a
bright experience.”
Public Relations Objectives
● Make millennials feel as if they are a part of an empowered community
● Engage other millennials as spokespersons for the brand

Hyder, S. (2016, Aug 2) Millenials and Shopping: How Retailers Are Missing The Mark. Retrieved from
https://www.forbes.com/sites/shamahyder/2016/08/02/millennials-and-shopping-how-retailers-are-missing-the-mark/3/#1827c6006b1e
 Public Relations Strategies
● Press Releases promoting the Live BRIGHT campaign
○ Penny Hoarder
○ The Skimm
○ The Hustle
○ BuzzFeed
■ Give discounts to whoever becomes a BBVA customer through these platforms
■ Link website and social media to discount link to increase exposure
PR Strategies Continued -- Bright Blog
● Consumer Blog for millennials
to share how they are living,
how they are spending their
money, and their favorite
places to go.
● Will create a BBVA community
and empower millennials to
pursue what they value most
and feel connected to others.
 Bright Social Media
● Shift towards vibrant, eye-catching
lifestyle content that positions Bright as a
way of life for BBVA customers

● Card placement in photos to provide

context that BBVA can help to give you
the exciting lifestyle you desire

● Encourage customers to post their own

lifestyle content including hashtags such
as #bebright #livebright #brightmoments

● Reposition Bright as a way of life with

BBVA and not just a set of events
provided by the bank
Leverage Your Partnerships
James
Harden
9 million
followers

● Utilize partnerships as
influencers
○ Ideally: Have them act as
you hope customers will by
posting #livebright lifestyle
content
1.2 million
○ Use them to lead the way
on sharing with BBVA Harrison
Barnes
Compass on online
platforms
Support Living Bright in the Community
● Shift from showing support within
the company to supporting the
community outside of the
company
● Showcase Millennials
● Offer social media promotions
● Expand beyond sports
Live Bright Events in the Community
Sponsor events such as music, art, and
food festivals to expand logo placement
at experiences to live bright

Show involvement in the community through

sponsoring philanthropic events like the Susan
G. Komen walk for the cure
Timeline

Jan. Mar. May July Oct Dec

2018 2018 2018 2018 2018 2018

Campaign Launch PR Influencers Partnerships Sponsorships Social Media

Start out strong with Begin PR activity with Continue with Begin to establish Expand awareness Capitalize on SM
activity on all social initial post on The consistent influencer relationships with through sponsorships platforms, using
media platforms with Penny Hoarder and posts local businesses at ACL and Walk for geofilters and sponsored
organic posts as well Buzzfeed the Cure ads to end the year with
as sponsored ads. strong engagement
 Metrics
Platform Facebook Twitter Instagram Bright Blog

Current 124,790 12,000 4,280

Projected 5% 8% 30% 2,000 pageviews

Increase

Track conversions from platforms to BBVAcompass.com

SEO: Google Adwords

- Check conversion rates throughout the campaign
- Use high performing keywords on BBVA Compass and BBVA Bright websites
- to generate natural SEO
Budget Breakdown
Public Relations $130,000

Influencers $320,000

Sponsorships $200,000

Partnerships in the Community $60,000

Social Media Advertising $44,800

Agency Fees $175/hr x 1000 hr= $175,000

Production Costs $4,200

Analytics $500/month x 12 = $6000

SEO $5,000/month x 12 = $60,000

Total: $1,000,000
Detailed Budget Breakdown
Public Relations ($5000 x 4 posts) x 3 sites
+$70,000
$130,000

Influencers $10,000/post
X 32 posts
$320,000

Sponsorships $100,000/event
X 2 events
$200,000

Partnerships in the community $5000/company

X 12 partners
$60,000

Social Media Advertising $6.70/1000 views $7.20/1000 views $10/geofilter

X 100,000 views X 100,000 views X 32 events
X 32 posts X 32 posts $320-Snap
$21,440-IG $23,040FB
Thank You!