evaluating social marketing in the context of financial literacy and education programs

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Evaluating Social Marketing in the Context of Financial Literacy and Education Programs Workshop on Measuring Financial Capability and the Effectiveness of Financial Education World Bank, Washington, DC 13 November 2009 R. Craig Lefebvre, PhD Research Professor, George Washington University chief maven, socialShifting

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Presentation as part of the "Evaluating Social Marketing, including Media Campaigns and Soaps" panel at The World Bank and OECD Workshop on Measuring Financial Capability and the Effectiveness of Financial Education. Washington, DC 12-13 November 2009.

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Page 1: Evaluating Social Marketing in the Context of Financial Literacy and Education Programs

Evaluating Social Marketing in the Context of Financial Literacy and

Education ProgramsWorkshop on Measuring Financial Capability and

the Effectiveness of Financial EducationWorld Bank, Washington, DC

13 November 2009

R. Craig Lefebvre, PhD Research Professor, George Washington

Universitychief maven, socialShifting

Page 2: Evaluating Social Marketing in the Context of Financial Literacy and Education Programs

What is Social Marketing?

Page 3: Evaluating Social Marketing in the Context of Financial Literacy and Education Programs

What is social marketing?

Viewing ideas, practices, and social causes in the context of markets.

Applying marketing thought and techniques to public/social goods.

Page 4: Evaluating Social Marketing in the Context of Financial Literacy and Education Programs

Markets Are the Context for Risk – Not People

…someone who has a personal or situational disadvantage in the marketplace that might create negative outcomes for the individual or society.

Page 5: Evaluating Social Marketing in the Context of Financial Literacy and Education Programs

How Effective are Health Communication Campaigns?

5%

Page 6: Evaluating Social Marketing in the Context of Financial Literacy and Education Programs

What is Social Marketing?

Page 7: Evaluating Social Marketing in the Context of Financial Literacy and Education Programs

What Should Be Measured?

Monitor relevant intermediate effects

Equity

Market share

Market efficiencies

Cost effectiveness

Access

Long-term behavior change

Page 8: Evaluating Social Marketing in the Context of Financial Literacy and Education Programs

How Should They Be Interpreted?

How does it improve the program?

Is the audience perspective incorporated?

What is the relationship of the audience to the program?

Were exposure targets met?

Has there been enough time to see measurable change?