GoBank Brand and

Communication Strategy

A Comprehensive Look Inside the Future of Mobile Banking: What Are the Next Steps?

Banking With Big Banks

What do you get?

How do you get it?

How do they reach you?

1.0 million Facebook likesBofA Help Twitter: 229,000 tweets, 44,000 followers BofA News Twitter: 1,200 tweets, 144,000 followers3,600 YouTube subscribers 2.8 million Facebook likes 4,400 tweets, 77,000 Twitter followers3,500 YouTube subscribers

740,000 Facebook likes7,900 tweets, 170,000 Twitter followers3,000 YouTube subscribers

3.7 million Facebook likesChase Support Twitter: 60,000 tweets, 18,000 followers Chase News Twitter: 5,000 tweets, 20,000 followers 1,000 YouTube subscribers

Heavy online following and presence

Constantly updating and monitoring Facebook and Twitter.

TV ads, online campaigns, stadiums, billboards, print media

“So You Can”

“What’s in your wallet?”

“#1 in Satisfaction”

“Citi Never

Sleeps”

Online Presence

College Students and Sports Fans

#CapitalOneBaldwin

Great Thing: College Student Campaign

Customer Service and Community Spirit

Get a response within one business day at BofA (app)

Giving back to the community

200,000 tweets, 44,000 followers, and immediate response

Moven-Take Charge of Your SpendingSimple-Mobile Banking SimplifiedAlly Bank- Tech Savvy Personal Finances HandlerEtrade-Day Trader with Banking NeedsDiscover-Cashback Card and LoansBlueBird-No Monthly, overdraft, minimum balance

Online and Mobile Banks

What Do We Have So Far?

Banks can target you everywhere.

Young couples, old couples, retirees, homeowners, apartment renters, car owners, people with personal finance handling experience, small business owners, savers, spenders, students, single 20s

4 Types of People to Target

Young, inexperienced bankers

Unbanked Minorities

People looking to avoid fees

People spending not saving

STRENGTHS• Easy to use, convenient with

simplified informal bank language• Limited Fees- generally

Americans pay $12 to keep an account open

• Pay-what-you-want system allows for freedom and fosters relationship between bank and customer

• More ATM locations than Chase or BofA

• Partnerships with stores Barnes & Noble, RiteAid, Kmart

WEAKNESSES• Minimal social media and online

presence• Ways to deposit cash are limited• $3000 per month deposit and 10-

day holding period for large checks remain an issue

• Minimal interest features provided

• Pay-what-you-want could lead to people paying $0

OPPORTUNITIES• College students and college

campuses• 18-30 year old mobile users• 18-35 year old Hispanics• Facebook, Twitter and YouTube• People with no previous banking

knowledge• People escaping from big banking• Ease of use and customer centric

THREATS• Big banks offer similar features• Predisposition that switching

banks is complicated• Lots of other banks to choose

from• Other banks offer interest on

savings accounts• Getting GoBank Traction

GoBank SWOT

Pay-what-you-want in monthly fees, GoBank sends checks for you, deposit cash and checks, pay a friend via email, large free ATM network, customizable debit card (low cost), balance bar, custom alerts (purchase of gas/atm withdrawal..), go bank fortune teller (can I afford that), no overdraft fees, and of course SIMPLICITY and FREEDOM

GoBank: It’s About Time

Customer Service

Create a lasting relationship with the bank’s user

Make the relationship stronger and provide an incentive to pay more per month through donations

Give the user a credit to wave one not-in-network ATMs fee

Better Reaching College Students

Create incentives on campuses

Partner with on-campus ATMs or libraries

Stunt on 10 campuses promoting GoBank with the help of Professor Dog

Better Reaching Young Hispanic Customers

Hispanics are the most unbanked ethnic minority

60% of hispanics with mobile phones have smart phones

Spanish speaking radio advertisements

Create and sponsor promotional events at community centers and volunteer networks

Other Efforts

Project Runway has already been used to target primarily women

Feature GoBank on ESPN or College Humor banner ads

GoBank partner with Mashable to spreading the word

Ads on Facebook

GoBank can be used as a temporary bank for fast cash and paying back friends.

Comprehensive Strategy

Give Incentives

Generate and spread content

Customer first attitude