Budget to offline marketing efforts

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1. What is the role of offline and onlineadvertising in acquiringcheckingaccountcustomers for the bank

2. In 2010, the bank allocated 1,22 million or 21% of total ad budget to online advertising for acquiring checking account customers while allocating rest of the budget to offline marketing efforts.

3. Why did BBVA sign up a multi year NBA and ESPN sponsorship deals. Do you agree

4. What are the various steps in online acquisition process and how can the bank improve this process

5. What is the effective acquisition cost and LV of the customers through online channel

6. What is the role of display and search advertising in acquiring customers.? Id the budget allocation between

display and search correct?

7. Is the budget allocation between various search engines correct?

8. Why is the bank spending money across various display a=d networks? Which networks arew working better, would you change the allocation among them?

Requirements: as long as answers the questions

  • However only 5% of new checking account customers come from online channel, while offline is 80%
  • Is the 2010 media allocation correct?

Answer preview

Based on BBVA’s client acquisition goal, the company first identifies the online marketing media to use to attract consumers through search and display ads. Secondly, the company uses promotional offers by granting visitors Nano or iPod Touch devices with 5% cash back. Such offers encourage prospective clients to open a checking account. Moreover, promotional offers have mandatory conditions, such as online bill payment plans. Consumers who meet these conditions qualify to be online checking customers. Other steps include checking account on Google, which directs them to the bank’s account application page. The bank then assesses the application to determine if the client has the required credit score. Considering that this lengthy process contributes to less than 50% completion of the checking account applications, the bank can improve by offering easy solutions (Gupta & Davies-Gavin, 2012). The solution should focus on a single click, whereby the customers input their data and register new accounts. Further, handy online support from the firm’s representatives could encourage the clients to complete the application forms.

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Budget to offline marketing efforts