1Tommy Price • Meg Miller • Mandy Love • Katrina Chen • Nick Tossey

2

1

CONTENTSExecutive Summary

Research Objectives and Strategy

Public Relations/ Industry Analysis

Competitive Analysis

Market Segments

S.W.O.T. Analysis

Target Market Profiles

Brand Insight

Creative Vision / Execution

Promotions

2

3

4

5

6

7

8

9

10-19

20-21

2

EXECUTIVE SUMMARYBank of America has been one of the leaders in banking for decades. Its brilliant customer service record and incredible customer retention rates have established the company as not only a household name, but the fifth largest company in the United States by revenue. However, despite years of success with such a stable brand, not even Bank of America could plan for such a drastic demographic change as the Millennial generation has created. This change has created such a skepticism among consumers that has not been seen since the depression, changing products to statements and brands into corporate creatures with ulterior motives.

We at Messenger Media have addressed this challenge as it has effected Bank of America, and are excited to bring you new ways to reach such a new audience. Our research has defined this audience by a few key values in banking: comfort, convenience, and no fees. In comfort, Millennial bankers need to trust that their money is safe and in such will trust their parent’s bank before all others. Convenience reflects technology as Millennials are becoming less willing to visit a branch when they can deposit, transfer, and pay for items with a tap of their touchscreens. Finally, this demographic is just starting to form their own lives after college and are very aware where their money is going. Bank fees are therefore strongly opposed, to the point where most will switch banks to avoid them.

With these insights in mind, Bank of America was in need of a campaign that reminded this demographic that they are convenient and comforting. While enhancing values already present since Bank of America’s inception, we must also incorporate new features, promotions, and messaging that will define Bank of America as a relevant banking solution that responds to a drastically changing competitive climate.

You Are Here is a message that addresses each of Bank of America’s current challenges. Grounding the audience in their current financial state, You Are Here assures Millennials that Bank of America is here with them, helping them through this time of transition. While comforting, the creative vision also brings a new edge of technology and convenience, mimicking a GPS pinpoint to remind the audience that wherever they are in the world, so is Bank of America. You Are Here. And with help from Messenger Media, so is Bank of America.

3

RESEARCH OBJECTIVESSummary

At Messenger Media, we know that one of the most valuable demographics to reach is that of the millennial generation. We are also acutely aware that this demographic is the most resilient to advertising as it has been in the past; a constant “biased” push message. Therefore, it is our goal to research this demographic’s values as they relate to banking and general day to day life. This research will provide insights on how to best integrate the features of Bank of America into their lives in a seamless, helpful fashion.

Millenials are skeptical and despite their willingness to trust personal information on the internet, they value their security a great deal. Through our research we encounter the challenge of adjusting Bank of America’s messaging to accommodate both the tech-driven and security needs of such a demographic.

Objectives

The successful implementation of a new Bank of America campaign will result in the following:

• Increase of the 18-24 year old demographic banking at Bank of America.

• Positioning Bank of America as a technologically savvy company.

• Positioning Bank of America as a comfortable and convenient way to bank.

4

PR /INDUSTRY ANALYSISIndustry

The banking industry is currently moving toward a very high tech space. Paperless statements, mobile banking, and instant transactions are becoming the norm for competitors like Chase, leaving other banks slowly catching up. While so much is being done to improve personal, mobile, and at home banking, the in-bank experience has not been renovated in some time, giving Bank of America an advantage to fill the category of comfortable, convenient banking through this untouched element.

While Bank of America has one of the highest customer satisfaction ratings, recent publicity surrounding fees for all banks has tainted the credibility of the industry. Combined with skepticism from millenials, breaking through a negative environment to position Bank of America as a trustworthy, helpful company will mean setting the company apart from the rest.

Public Relations Public relations for Bank of America’s newest campaign will be tailored to the 18-24 year old demographic. As this new generation evolves alongside current technology and new media, so too must Bank of America alter their PR practices. The most vital component in Bank of America’s public relations strategy is transparency. An active public voice that provides constant updates on the company is essential to build trust around the brand. Press releases should be provided to the public in every instance of change within the company, or at least once per month.To best deliver these updates, the @BOA_Help Twitter account must be fully skinned, direct followers to the Bank of America Help page rather than their Social Media page, and have a fully branded second account for press releases. This account, called @BOA_PR, will only post news about the company. @BOA_PR will differ from @BOA_Help, which interacts with followers daily on a more personal level. Following the @BOA_Help account clutters a fan’s feed with other’s conflicts, whereas the new PR specific account will be a simple and effective way to keep followers informed and up to date. Finally, this Twitter account as well as the official Bank Of America Facebook page should link to the Newsroom on Bank of America’s home website. The information found here is incredibly valuable and should be readily available to those seeking such information through social media outlets.

5

COMPETITIVE ANALYSISPR /INDUSTRY ANALYSIS

Competitive Analysis

Chase is probably our biggest competitor. Chase has a lot of innovative new features and services using technology, which appeals to our target markets. The company just released a new feature on its smartphone app called QuickDeposit, which allows the user to deposit checks by taking a photo of it from their phone. The app also has a feature called QuickPay, which allows the user to pay others immediately with just an e-mail address and a name. The other person doesn’t even have to be a Chase customer. These are two features that really resonate with our target markets because they are quick, efficient and simple to use. Its advertisements are very upbeat, fun, simple and highlight their technological superiority in the market currently, so this also appeals to our primary target market.

6

Primary

18-24 year olds

Also known as millennials, this group essentially grew up with technology so it is an integral part of their lives. It is important for them to have the most technologically advanced gadgets and services and they tend to put convenience and efficiency at the forefront of their needs. In addition, these individuals appreciate simplicity in their already complicated and busy lives.

Secondary

Parents of 18-24 year olds

This group has been banking for several years so they know the ins and outs of banking by now. They know that they want the best for their children and they want a product/service that is secure and that will prepare their children to be responsible adults. This group wants the convenience of banking with their children and knowing that their children will be able to go away to college and still access their bank.

MARKET SEGMENTS

7

S.W.O.T. ANALYSISStrengths

•BAC has agreed to more than $12 billion in settlements related to mortgages.•BAC has agreed to sell half of its China construction Bank stake to raise capital.•BAC has secured further capital by selling its Balboa insurance business.•BAC sold its Canadian credit card business, exiting its credit card businesses in the U.K. and Ireland. Additionally, it has put other international credit card units up for sale.•BAC has agreed to sell parts of its mortgage business to give abetter insight of its assets.•BAC is cutting 3,500 jobs in the current quarter and working on a broader restructuring that could eliminate thousands of additional positions. Although this move has a negative impact on domestic jobs, it helps BAC as a company cut down on its costs.•Leading market position in the US.•Robust growth in core banking.•Capital management and dividend policy.•Product and service innovation.•Second largest US-based financial holding company.•Has a relationship with 99% of the Fortune500 companies.•$5 billion invested from Berkshire Hathaway.•5th largest company in the US. Weaknesses

The second-quarter 2011 net loss was $9.13 billion, equal to $0.90 per share.Second-quarter net interest income fell 7.9%, while the net interest margin narrowed to 2.49% from 2.66%, and interest

8

TARGET MARKET PROFILES

Transitioning Young Adults (TYAs) need to feel trusting and comfortable with their bank.

From our research, we discovered that TYAs not only want to trust their bank, but also want to feel comfortable accessing bank services. Essentially, TYAs have become so used to technology making life easier, they now demand a very high-tech yet easy to use bank interface. Whether it is an easy-to-use website or highly functional smartphone app, TYA’s have indicated that they would most likely choose a bank with more convenience services.

Parents of Transitioning Young Adults (PTYAs) are a highly influential force upon the banking decisions of TYAs.

When asked what would cause a TYA to choose one bank over another, “comfort” fell short only to “family recommendation.” As we found, through our secondary research of Bank of America, most first time bankers are legacy customers, or children of parents who use the same bank. PTYAs, therefore, must embrace the services of a bank in order to recommend it to their children.

9

BRAND INSIGHTS

Brand Insights

Research tells us that most TYAs today choose to do business with banks, such as Chase, that offer services that make life easier. Bankers in the target age range are always on the move, creating a necessity not only to bank on the move, but track bank transactions that occur anywhere. Instant account management, money transfer, bill pay, etc. can all be performed via smartphone with Chase, appealing to the busy lifestyle of the TYA. In addition, emerging technology, such as Google Wallet (which allows an Android device to be used as a digital credit card when performing transactions) has shown a trend towards an increase in mobile money transfer technology. We feel that in order to compete, Bank of America MUST become a trendsetter of this technology.

As Bank of America currently has more customers than any other bank in the United States, it is critical for PTYAs who are Bank of America customers to encourage the TYA’s in their life to also join Bank of America. We have found that PTYAs most look for reliability and convenience when choosing a bank for their children, once again creating a opportunity for new technology. Easily accessable bank services for PTYAs, such as mobile money transfer, maps that track the location of transactions visually, and instant alerts allow parents to be monetarily involved in the lives of TYAs without being overbearing.

10

CREATIVE VISIONBig Idea: “You Are Here”

The objective of the You Are Here campaign is to update the image of Bank of America to one of convenience and comfort and convince transitioning young adults, aged 18-24, that this is the bank of choice for their age group. Bank of America offers a number of new and technologically-advanced services and features, like updated mobile banking options; social network integration; and refreshed retail concepts and staff training, all specifically designed to meet the needs and wants of a tech-savvy and on-the-go individual newly entering the adult financial world. The You Are Here campaign will portray Bank of America as a necessary companion for the transitioning young adult and understanding of the unique real-life situations that this dynamic age group will encounter. Tagline: You Are Here.

This tagline will be used in all executions. The repeated presence of the line, in advertisements; collateral; and retail outlets, will create a unified vision and feeling throughout the brand, positioning it to be the choice bank among transitioning young adults. The Change: - Bank of America is perceived as understanding, convenient, and comfortable.- Bank of America becomes a necessary companion and social touch point.- Bank of America is the best choice and most wanted bank for target market.

11

CREATIVE VISIONArt Direction and Copy

Imagery should be realistic with a tech-forward vibe, achieved through the use of the “You are Here” push pin floating above the subject’s head. The target will be familiar with this type of push pin idea found in popular location-based applications. The ads should be vibrant with a distinct use of the Bank of America red. Copy is short and succinct with an understanding tone.

Mandatories

Bank of America logoYou Are Here push pin

Promotions

Mobile Banking ApplicationPartnership with Google (Google Wallet, maps)Tuition PaybackSticker Game

Social Media

Bank of America will operate and frequently update a Facebook and Twitter page. These outlets will not only play a large part in the You Are Here Sweepstakes but will also be updated with helpful budgeting tips and fun facts about cities where Bank of America branches are located. In addition, PSAs will be able to post images from their iPads of fun events happening at the branch.

12

CREATIVE VISIONRetail Initiatives

Retail outlets, specifically those located near college campuses, will be updated with a more age-appropriate design, a new You Are Here café (where applicable), and tech forward features and amenities, transitioning the space from a simple bank to a place to be. -InteriorThe traditional heavy bank interior will be replaced with a lighter, more natural space prominently featuring glass, wood flooring, red accent walls, and interesting architectural elements. Private banking spaces will be eliminated in favor of a limited number of glass divisions, which can be tinted when needed. Each bank will have a number of bright red couches and chairs to create comfortable and attractive seating throughout the space. -You Are Here CaféBranches near college campuses will be retrofitted to include a new You Are Here café, a lounge area featuring a Starbucks licensed store. Where space is limited, the new Starbucks kiosk concept may be used. Clients will be able to enjoy the full Star-bucks menu and free wifi while completing their banking tasks or waiting for their Personal Banking Assistant.

-We Are Here FeaturesATMsATMs will transition from the clunky money machines to sleek and stylish built-in banking portals. The number of ATMs will be increased. Clients will be able to complete most routine banking transactions via the portal, limiting the need to wait in line for a teller. Transactions that require personal service or the aid of a Personal Banking Assistant will be queued from the portal.

13

CREATIVE VISION

Website

The website will be redesigned for a streamlined, contemporary feeling. Upon logging in, clients will be greeted with new functionality: - Talk to UsAn instant messenger application for immediate banking help.- We Are HereA direct way to contact your Personal Banking Assistant. The CRM toolbox will be directly integrated with this application reminding the PSA to wish their clients a Happy Birthday, etc.- Your MoneyUpon opening a college banking account, the client has the option of working with the PSA to develop a personalized budget. The budget will be uploaded to the client’s home page and transactions automatically monitored against the budget.

www.bankofamerica.com

Browser

Bank Borrow Invest Protect Plan

14

CREATIVE VISIONEmployee Training

All employees will be required to complete the You Are Here Training Program which will bring them up-to-date on new bank technologies as well as instructions on providing great service, specifically targeting college-aged clients. This training program includes information on empowering the client to take control of their own accounts but also how to provide personalized ser-vice, when needed, using the new CRM toolbox. Tellers and Bankers will see their titles changed to Client Ser-vice Agent and Personal Banking Assistant, respectively, to enhance the image of a personalized, client-based approach. The role of the Client Service Agent (formerly Teller) will largely remain the same, though as the usage of the new ATM portals increases, their numbers should be reduced. CSAs will be empowered to make on-the-spot decisions to please the clients without manager approval. Personal Banking AssistantsWhen students enroll in one of the college banking plans, they will be assigned a Personal Banking Assistant (formerly bank-er). This is the individual that they will work with through out their college years (and possibly beyond) to assist in all of their banking needs. The PSA will take a client-based approach and develop a personalized relationship, helping by the introduction of a CRM toolbox.

Personal Banking Assistants (PBAs) will break free from their desks and become mobile, each carrying an iPad for transac-tions. The iPads will feature the Mobile Banking Application (with some increased functionality) which will allow the PBAs to complete most routine banking needs, as well as the client waiting list. Clients will be queued from the ATM portal or by a Client Service Agent (with the client requesting a first available assistant or a specific PBA). The request will be sent to the PBA’s iPad and the client will be approached personally and in a comfortable atmosphere, such as the café or one of the seat-ing areas. Depending on the needs of the client, the transac-tion can be completed on the spot or taken to one of the private glass cubicles.

15

Commercial

Premise: Bank of America’s new technologies are there for you when you need them. The target audience often finds their fast paced life slowed down by old practices and ways of doing things, like waiting in line to check out. With Bank of America’s new mobile app and partnership with Google Wallet, skip the line and get back to what you love.

     

 

 

 

   

 

You are here.

Pay using your Bank of America account,

The desolate retail wasteland that is the

check out line.

And you’re out the door.

Unclaimed toothbrushes, cans of peas, and that one lady that still uses

checks. No end in sight!

No more waiting, no more wasted time, no

more check lady.

But now with Bank of America’s new mobile banking app featuring

Google Wallet, you can break free.

Bank of America. When you are here, so are we.

Scan your items with your phone,

CREATIVE VISION

16

CREATIVE VISION

You are here.And with over 6,000 branches and new banking solutions for students,

so are we.

Print Ads

The print ads support the You Are Here message by showing both slice of life situations such as starting college to problem-specific situations, like being without access to a bank branch. Whatever your location, wherever you are in life, Bank of America is here to help.

•GeneralImage: Student and Personal Banking Assistant on college campus.Headline: You are Here.Copy: And with over 6,000 branches and new banking solutions for students, so are we.

17

CREATIVE VISION

You are here.

And with our new mobile banking solutions,so are we.

-SolutionImage: The You Are Here pin in the middle of the desertHeadline: You are Here.Copy: And with our new mobile banking solutions, so are we

__________________

was here.

Where have you been?

Show us where you’ve been for a chance to win a spring break getaway.Visit http://youarehere.com for more info.

-StickersImage: One large You Are Here pin sticker with the words “______ was here” inside.Headline: Where have you been?Copy: Show us where you’ve been for a chance to win a spring break getaway. Visit http://youarehere.com for more info.

18

CREATIVE VISIONOutdoor

Outdoor advertising will be location-based, taking a more literal approach to the You Are Here message. Billboard ads will be populated with Bank of America statistics within the current city, while transit ads feature fun facts about the city. In large markets, pin point cut outs will be randomly placed around the city. These pin points will feature QR codes that direct the target to YouAreHere.com for information about the sweepstakes.

Billboard – Location-based, information should be filled in with statistics from that cityImage – Bright red background with You Are Here PinHeadline – You Are HereCopy – And so are 34 Bank of America branches, 150 ATMs, and 112 Personal Banking Assistants. General Fact Signs –Image – Bright red with You Are Here pinHeadline – You Are HereCopy – “Fun Fact about the Area” Pinpoint – Large pinpoint cut outs of the You Are Here pin placed randomly throughout cities. Features QR codes which takes the target to YouAreHere.com

19

CREATIVE VISION

YOU ARE HERE.and so are

34

112

Bank of America branches

ATMs

Personal Banking Assistants150

20

Promotions

Mobile app

Through our research, we found that many TYAs rely upon mobile devices for day-to-day life. It is critical that Bank of America can accommodate this need in a highly functional yet easy to use smartphone app. Modeled after leaders and innovators in the mobile banking market, this app will perform most of the services offered by Bank of America from any location. As with the app from Chase, Bank of America’s mobile app will allow instant money transfer, picture check deposit, and on-the-fly account management. In order to stand out from Chase, however, the Bank of America app will partner with Google Wallet, a new service which allows mobile phone users to make transactions with their phone. Any vendor displaying the electronic express pay logo will accept this transaction, putting consumers one step closer to replacing their wallets with their phones. Tuition Payback Built on the success of the “Keep the Change” campaign, “Tuition payback” will feature a similar style of savings geared toward college students. The program will round every transaction up to the nearest dollar, placing the difference in money into a savings account, which can earn interest until a student has graduated. As many TYAs are college students, this program allows Bank of America to connect with young bankers on a personal level, demonstrating the foresight to help college students repay their loans.

PROMOTIONS

21

Website The redesigned Bank of America website will be centered around the theme of simplicity, ease of use, and high functionality. From our research, we found that most bank customers would prefer to interact via the Internet, only using branch locations for problems and special transactions. Bank of America must stand out as the standard of excellence for ease of use and innovation in order to reach TYAs. In addition, new technology will give the Bank of America website a modern feel. For example, a map on the home page will feature the branded “You Are Here” pins indicating where purchases have been made. This will allow customers to visually track transactions. In addition, the entire site will take the look of a social media platform, with live streaming account info and special offers tailor made to the interest of the individual banker. Sticker Game The “You Are Here” sticker game is a social media campaign targeted at TYAs. A sticker, featuring the branded “You Are Here” with the Bank of America logo, will appear in various print ads and social media posts. Consumers will be encouraged to take pictures with this sticker at different locations, and then post the pictures to the You Are Here website. Then, an online campaign will invite social media users to vote for the best picture on the website, increasing exposure for all of Bank of America’s online pages. The picture that receives the most votes will win a weeklong “Spring Break” vacation to an exotic location.

PROMOTIONS

22

THANK YOU.