RAPP SF INTERN PROJECT 2016

Allie Pietro, Bailey Moran & Emma Rabun

ENGAGING MILLENNIALS WITH THEIR FINANCES FORCHARLES SCHWAB

RESEARCH:

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SURVEY KEY FINDINGS

Top Awareness and Use amongst millennials: Bank of America and Wells Fargo

76.3% of millennials use a mobile banking app at least once a week

Strongest associations with the Schwab brand: “A bank for wealthy people”“Corporate”“An investment bank”

45.5% said they did not feel confident in their knowledge or ability to invest in the stock market

RESEARCH:

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THIRD PARTY RESEARCH

“At the end of the day, if a business doesn’t work side by side with technology, they will be less appealing to consumers and Millennials will be much more reluctant to, well, consume.”

“Millennials not only want to consume, but they also want to feel connected with their purchases. Buying a product now means buying into a product.”

“Beyond what you can do for them, millennials want the companies they do business with to be invested in improving the world.”

CHARLES SCHWAB TARGET AUDIENCE

THE DRIVEN:SCHWAB’S CURRENT KEY CUSTOMER

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THE STARTING OUT:

“Sharing my life and experiences with others makes them mean more and

helps me to learn from them.”

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“I am future focused with my money and with my life decisions.”

THE STARTING OUT:

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“I understand how important responsible financial decisions are, but

I don’t want to make them yet.”

THE STARTING OUT:

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“I want to be an active participant in my community, globally and locally.”

THE STARTING OUT:

INSIGHTS AND COMPETITIVE ANALYSIS

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CUSTOMER INSIGHTS:

TRUST AND LOYALTY DIGITIZATION VALUES

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TRUST AND LOYALTY DIGITIZATION VALUES

COMPETITIVE ANALYSIS:

HOW SCHWAB COMPARES:

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IN KEY AREAS

• Rarely mentioned on social media

• No current marketing for this demographic

• Mobile banking and trading app

• Participate in socially responsible activities, but low public awareness of these activities

2%

OPPORTUNITIES

OPPORTUNITIES:

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OPPORTUNITIES:

Give them a say in how Schwab is socially responsible

Address them from platforms they pay attention to

Quality customer service through technological platforms

Delicate balance between condescension and intimidation

Provide opportunities for them to interact and engage with their community, and the brand

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FOR ENGAGING MILLENNIALS

OURSCHWAB SOLUTION

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REALTIME APPLICATION

CAMPAIGN TIMELINE:

THANK YOU

CHARLES SCHWAB ACCOUNT TEAM&

RAPP AGENCY

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