Due Saturday by 8:30 Marketing Plan Final Draft (Portfolio Component)

Marketing Plan: Credit Union Radio Comment by Bathke, Nicole: Hi team, please see comments below. I edit all marketing plans closely so that the feedback is of use to you. Formatting, organization and writing are good. This month had been a particular challenge because we are not thinking outside the social media box, even though the client has been clear how that has worked out in the past. He is not interested in a broad reach of any kind (the top of the sales funnel) and is only interested in his 600 marketing executives (the bottom of his sales funnel.) This fact has not been made clear enough in the plan, nor has the team’s strategy for finding those 600. Our first task is to listen to the client. If we need to phone conference that’s perfectly fine. I just want to make sure the team isn’t forcing social media as a solution because we can’t imagine anything else. Kindly, Niki Analysis 21 Organization 14 Formatting 14 Writing 14 References 13 Completion 7 (required appendix is missing)

Tara Souders, Sookia Ramdeen, & Barbara Tatum

October 17, 2019

Table of Contents

1.0 Executive Summary

2.0 Situation Analysis

2.1. Company Overview

2.1.1. Push Button vs. Credit Union Radio Comment by Bathke, Nicole: No need for a single subsection. In this case, just talk about the subjects the team feels are important.

2.2. SWOT Analysis

3.0 Competitive Analysis

3.1. Market Overview Comment by Bathke, Nicole: Again, this can be deleted since single subsections are not needed. 3.1.1 becomes 3.1 and 3.1.2 becomes 3.2. Current 3.2 becomes 3.3

3.1.1. Target Markets

3.1.2. Client Personas

3.2. Direct and Indirect Competition

4.0 Objectives

5.0 Strategy

5.1. Instagram

5.1.1. Example Clips and Daily Posts

5.1.2. Advertising

5.1.3. Referral Stories

5.1.4. Live Sessions

5.2. Facebook

5.2.1. Engagement Plan

5.2.2. Blog Post Links

5.2.3. Facebook Page Shopping

5.3. YouTube

5.3.1. Series

5.3.2. Advertising

6.0 References

7.0 Appendices

1.0 Executive Summary Comment by Bathke, Nicole: Formatting such as margins and spacing seems nice and clean throughout. Recommend differentiating the type font (size, bold, etc.) for sections and subsections so the audience will better understand where they are. In Executive Summary, a clear Objective is missing. What’s the client’s goal? Methodology is missing. Also, briefly tell what the actual strategies and tactics are. See example in Week 3 GoToTraining archive, toward the end.

This marketing plan targets Credit Union Radio (CUR), a subsidiary of Push Button Productions, specializes in high quality audio marketing content for the credit union and regional bank markets. Credit Union Radio offers creative and music development, script writing, and of course, production for ads, jingles, logos, on-hold, ringtones, podcasts and more. CUR is only interested in credit union marketing executives that know the value of audio and have the budget for it. The owners have discovered that it is not productive to start with a broader group and spend a lot of time trying to sell them on audio. The plan will include objectives, strategies, supporting tactics, and action steps to keep with the client's goals as the ultimate guide. Therefore, the marketing plan will be tightly confined to messaging for that target group. Comment by Bathke, Nicole: Yes, good.

2.0 Situation Analysis

This section will cover a situation analysis for Credit Union Radio and will discuss the company overview, objectives, and SWOT analysis.

2.1. Company Overview

Credit Union Radio is a subsidiary of Push Button Productions. CRU is a creative production company that helps clients make the most out of their audio branding. They specialize in Jingles, Radio Commercials, Audio for TV/Video, On Hold Messages, Audio Logos, and they also offer Spanish translation options as well. They are targeting females 40-60 years of age who are internally promoted and experienced. Although many radio stations have other competition, Credit Union Radio has no competitors at this time. Comment by Bathke, Nicole: Is this supposed to be CUR? Comment by Bathke, Nicole: This probably goes in Target Market below, instead. Comment by Bathke, Nicole: …which also produce audio? Make it clear why a radio stations might be an occasional competitor

2.1.1. Push Button vs. Credit Union Radio Comment by Bathke, Nicole: Subsection is not needed

Push Button Productions works with an array of companies while Credit Union Radio works with credit unions only. They both produce jingles, radio commercials, audio logos, and audio for video/TV.

2.2. SWOT Analysis Comment by Bathke, Nicole: It’s okay that these are bulleted, but if they are, they must be more complete. For instance, why is CUR excellent at credit union communications? In the interview we are told CUR knows the legal requirements for financial service marketing.

This SWOT Analysis will cover the strengths, weaknesses, opportunities, and threats for Credit Union Radio.

Strengths

• Experts in audio branding

• Recognized by the CUNA Marketing and Business Development Council with multiple Diamond Awards

• Excellence in credit union communications

• Clients learn about CRU through word of mouth and conferences

Weaknesses

• Pay Per Click campaigns Comment by Bathke, Nicole: Are the campaigns unclear, scarce, or just missing? This needs clarifying. Having visited PushButtonProductions.com, I now get their mobile pay per click ads constantly. They have several and they are clearly targeted. Not so for CreditUnionRadio.com. That is my experience. What is yours?

• Lack of Direct Mailers

• Flyers for live Webinars Comment by Bathke, Nicole: Is the weakness that they have flyers or that they don’t? Or is there something unclear about what they do have?

• Lack of Social Media Comment by Bathke, Nicole: This is not a weakness for CUR. Social media content works for Push Button. It does not work for CUR. However, our interviewee Yeosh did say that leads were not converting off of the CUR website , which means they are either not getting the attention they want, or not getting the quality leads they want. This indicates a weakness. It also indicates an opportunity to make the website somehow more engaging. There are many content recommendations in this plan, but none of them include a proposal to connect back to the CUR website- the one place we know at least some credit union marketing executives have visited. Something to consider.

Opportunities

• Gain more clients

• The chance to gain a Social Media platform Comment by Bathke, Nicole: Again, if the team insists on recommending social media, this must be described as a highly targeted effort to friend or link only the target audience first, and to direct specific content to that target audience. The best platforms for middle aged professionals are likely LinkedIn and a Facebook business page. Such content should also be linked or fed with a widget directly onto the CUR website in order to increase chances that a credit union marketing executive will see it. It will affect the team’s score if this guidance is ignored. Please contact me for more guidance if necessary.

• Engage with clients

• Expand and bring awareness to more trade shows

• Monitor website traffic for social media

Threats

• Push Buttons clients find them through CUR and decline Comment by Bathke, Nicole: What does this mean? Does it mean that people who visit the CUR website by linking through Push Button do not make further contact?

• Social Campaigns Comment by Bathke, Nicole: Are these all production studios or agencies? I don’t remember every company Yeosh mentioned. My point in asking is that in 2.1 it says that CUR has no competition. Maybe it is more true that CUR has no niche competition in high quality audio production for the financial industry? Please resolve the contradiction.

• Radio Ranch

• Oink Inc.

• Financial Banking Solutions

• BA Group

3.0 Competitive Analysis

In the competitive analysis, businesses who Credit Union compete with will be discussed. Target markets and customer personas will also be discussed to showcase who Credit Union Radio needs to market to.

3.1. Market Overview

The market for Credit Union Radio differs from Push Button. Push Button markets to every business, small or large. Credit Union Radio specifically targets financial institutions. Credit unions like Fibre Federal Credit Union, WyHy, Space Coast Credit Union, and TEG Federal Credit Union are among the works of Credit Union Radio (Credit, 2019). These people work full time at their establishments and have a steady income to support a family.

3.1.1. Target Markets

Marketing Directors of credit unions across the US are their main target market. These credit unions are relatively small and not well known. There is no geographical target because CU Radio can work with anyone in the US. They’ve worked with financial institutions in Iowa, California, and Georgia. These marketing directors are between the ages of 30-45 with 40% being male and 60% being female. Comment by Bathke, Nicole: As well as other locations (if you listen to some samples on the CUR website- there’s also Michigan, Wyoming, etc.) Comment by Bathke, Nicole: I thought he said 40-60 yrs..? Also, what is their psychographic? One thing I heard is that they are community minded. Furthermore, they must have an education to be a marketing executive, so they are college educated.

3.1.2 Client Personas

Sarah Wilds Comment by Bathke, Nicole: Very nice addition. How does she participate or invest in her hometown? Don’t forget to explain later as to why a marketing proposal will resonate with Sarah.

Located in Toledo, Ohio

38 years old, full time employee

Mom of 4-year-old, married for 10 years

Enjoys baking, reading fantasy novels, and watching romantic comedies

John Whiticar Comment by Bathke, Nicole: Very nice addition. How does he participate or invest in his hometown? Don’t forget to explain later as to why a marketing proposal will resonate with John.

Located in Dallas, Texas

43 years old, full time employee

Dad of three girls, 10 years-old, 7 years-old, and 4 years-old

Enjoys fishing, watching live sports, coaching his daughter’s soccer team, and playing chess

3.2. Direct and Indirect Competition Comment by Bathke, Nicole: Interesting research. However, only indirect competitors are named. Who are the direct competitors?

One indirect competitor to Credit Union Radio is Antfood. The have worked with large brands like Mustang, Pepsi, Nike, and Play Station (Antfood, 2017). Their award-winning audio has been produced out of studios in New York, Amsterdam, and Sao Paulo (Antfood, 2017). Another indirect competitor is Relight studios who are located in London and work with well-known British companies.

4.0 Objectives

The objectives of this plan are to grow the new subsidiary business, start new contracts, keep existing clients, and create engaging content through social media. The main goal of this marketing plan is to reinvent the way Credit Union Radio uses social media to then further engage existing and new clients. A direct competitor is Creative Radio Jingles located in Minnesota. They write jingles for many small businesses across the US. They have formerly worked with health care companies, auto dealers, banks, financial institutions, and restaurants (Creative, 2019). Comment by Bathke, Nicole: See margin comments above, under SWOT opportunities. Comment by Bathke, Nicole: This portion is misplaced where it is and looks like it belongs in a competitor section.

5.0 Strategy

Social media hasn’t been the best form of marketing for Push Button Radio in the past. Social media is a very popular way for businesses to advertise themselves and to connect with clients. In the following sections, new social media strategies will be discussed in a way to reinvent Push Button and Credit Union radios social media sites. Comment by Bathke, Nicole: Social media has worked fine for Push Button. It does not work for CUR. Comment by Bathke, Nicole: This plan is not for Push Button and thus, Push Button should not be a subject of the recommendations.

5.1 Instagram Comment by Bathke, Nicole: See margin comments above, under SWOT opportunities.

Instagram is a great social media tool to use for advertising and showcasing work. Many businesses use Instagram as a new form of a blog, showcasing their products and services. In fact, Instagram is the leading platform for small business promotion (Bose, 2018). Credit Union Radio would benefit from using Instagram by posting daily, advertising, posting/reposting referral stories, and using the Live function.

5.1.1. Example Clips and Daily Posts

As mentioned before, small business use Instagram to showcase and promote their products and services. By posting daily, they are creating a visually appealing way for their followers to learn more about what they do. Credit Union Radio can utilize Instagram’s services by posting clips of popular jingles, radio commercials, on hold messaging, and audio logos as a way to showcase their talent. This Instagram page can serve as a blog to directly link to clients for examples of their work. Posting to Instagram is also an efficient way to promote new specials and deals the company is holding for the week/month. Credit Union Radio’s slogan can also be used in a hashtag to further promote the brand of the company. Using the hashtag, “TellYourStoryBuildYourBrand”, can be used on not only the businesses personal social media sites, but can be used by clients as well. This will directly link the slogan to the brand.

5.1.2. Advertising

Advertising on Instagram is an easy way to get your content seen by new potential customers, not just your followers. Ads can be seen on the feed where users scroll or in between stories. “Ads also typically have a banner at the bottom of the image with a call to action like “Learn More,” “Shop Now,” or “Sign Up.” When a user clicks on the banner, they are sent to the webpage you designated for the ad” (Paquet, 2019). By integrating quick advertisements that will show up on potential client’s feeds, it’ll direct them to the company’s website. It may also create more traffic to the actual Instagram page which will then draw the viewer in for exploring the content. This will also leave them wanting more information which will be provided on the Instagram page as well. Comment by Bathke, Nicole: How does the team make sure the ads are targeted to marketing executives who work for credit unions? Paying for a broader audience will not magically convert people who aren’t credit union marketing executives into people who are! In regard to the pay-per click ads referenced in the SWOT, we know there are mobile ads targeted to those who have visited the Push Button website. What would be the message or content in such an ad targeted to CUR website visitors?

5.1.3. Referral Stories

The idea of using Instagram Stories for referrals is quite simple. Asking a client to post the jingle or TV audio Credit Union Radio created for them, it will raise awareness of the services the business provides. Using a hashtag or directly tagging the businesses Instagram page will not only make it interactive but will create traffic to the page. With the tool of using hashtags, directly tagging someone, and the chance to repost a story makes it a free and simple way for clients to share what Credit Union has created. In return, Credit Union can offer a discount to the actual client that posted a story. The client can also promote a discount code within the story and say something along the lines of, “Use our code for 15% off which won’t just benefit you but us too”.

5.1.4. Live Sessions

Instagram has a great feature where anyone can livestream at any point of the day. This feature would be a great way for Credit Union Radios’ followers to interact with the company even more. Livestreaming the brainstorming process with clients, actually recording the audio, the process of editing the audio, and the reveal to the client are some ways the Live feature could benefit Credit Union Radio. Livestreams could be a weekly or monthly occurrence at a set time so followers can look forward to it. It is also an interactive way for them to ask questions and learn more about what the company does. There’s also a feature where you can livestream with another account so if a client wanted to collaborate on their Instagram page as well, it is possible. The Sprout Social reports that 80% of customers say they would rather watch a live video than reading from a blog (Carter, 2019). The Live feature also allows the action of saving the livestream so people who missed out have the chance to view it up to 24 hours after the livestream happened. Credit Union Radio would benefit from using Instagram’s Live feature by creating an interactive and personal atmosphere with their clients and followers.

5.2 Facebook Comment by Bathke, Nicole: See margin comments above, under SWOT opportunities.

Social media usage is not very important, the client hears about the company through word of mouth and conferences. This section will explore Facebook page shopping as an appropriate tool for CUR’s marketing. Comment by Bathke, Nicole: This is contradictory and negates the recommendation right before making it. How can there be a better explanation as to why the audience would want to read further into the section?

5.2.1. Engagement Plan Comment by Bathke, Nicole: Too vague. No engagement plan referenced, only that an engagement plan will ensure something. How? And what is Twitting? 5.2.1 type font is different from the rest of the plan.

It will ensure that both active customers and the potential ones are engaged in listing the products and explaining them since the ultimate aim of the company is to promote its services.

5.2.2. Blog Post Links

The blog promotion Twitting will enable the Company to make unique posts which will not only promote its strategic selling but also promote the Company’s brand marketing.

5.2.3. Facebook Page Shopping Comment by Bathke, Nicole: Why is this special and an appropriate solution for a client who told us that social media doesn’t work? Needs more explanation.

The page group forums should be used to enable the company to sell its brand among the active Facebook users.

5.3 YouTube Comment by Bathke, Nicole: See margin comments above, under SWOT opportunities.

YouTube is a new way business are advertising their business. Short video ad is a great way to help small businesses. The following sections will discuss a plan for marketing on YouTube.

5.3.1 Series

Obtaining a YouTube Channel Series for Credit Union Radio is essential. This will include video content of samples of CUR’s jingles, radio commercials, audio blogs, audio for TV/video, and on-hold messages. The series will also provide information on how you can become a client with CUR. It will also allow CUR to engage with their followers and potential clients. Comment by Bathke, Nicole: There is a whole page of audio samples on the CUR website right now. Why is it essential to put them on YouTube instead?

5.3.2. Advertising

With advertising on YouTube, you can maintain a consistent voice for CUR’s brand and company. This attracts more clients simply because the advertising is in rotation and can be a leverage for those who are watching. It can maximize the outreach of million in one hour versus advertising elsewhere. It is also a lost-cost option simply because you do not have to print and send out. Advertising on YouTube gives you the ability and creativeness to promote the audio brand even more by simply advertising the audio on an audio advertisement. Comment by Bathke, Nicole: This really isn’t a selling point for CUR because the owners aren’t interested in reaching millions. They are interested in reaching 600. However, in regard to the pay-per click ads referenced in the SWOT, we know there are mobile ads targeted to those who have visited the Push Button website. What would be the message or content in such an ad targeted to CUR website visitors?

6.0 References Comment by Bathke, Nicole: Sources look good. Don’t forget to make sure there is an in-text citation in the body of the plan for each one.