The Power of 70 (A Social Media Case Study)

We are on day 38 of a client promotion focused on personalized debit cards (cards that use our own, personal photos).

The goal is to open new checking accounts by using these market-unique access tools as the differentiator.

The campaign was divided into 3 phases.

PHASE 1: Awareness & Acquisition

We promote the debit card through TV, web banners and direct mail.  The foundation of the promotion is a photo contest where each credit union member who opens a photo debit card has the option to add that photo into the contest. 

The call to action for all media is a unique URL where they can create their personalized photo card and begin the account opening process online.

PHASE 2: Voting & Social Media

We end all external media during a 2 week voting period.  We use the same unique URL as Phase 1, but add the voting element.  Of course, members and potential members can still create their own card and begin the account opening process – they just cannot enter into the contest.

During this time, we use email and Facebook to promote the voting.  The key is to provide tools for the contestants to push the message to their social circle to encourage voting for their photo.

PHASE 3: Announce Winner & Continued Awareness

We restart the TV campaign with a new ad featuring the winner’s photo and promoting the unique aspect of the photo debit card.

RESULTS

Phase 1

We experienced a spike on the first day of the media campaign with more than 100 absolutely unique visitors on day 1.  The first week, the daily unique visitors leveled off to about 40-50 per day.  Week two, it lowered to 10-20 unique visitors per day.  

We then launched the direct mail and sent another email to members to re-energize response and saw another one-day spike of more than 400 unique visitors (a 400% increase over our best day of TV).  Again, we leveled out to about 50 visitors per day during the last few days of Phase 1. 

The broad-based media had an immediate impact but leveled out and began to decline in 2 weeks.  The targeted effort of direct mail had a more impactful one-day result, but also quickly leveled off.

Phase 2

Here’s where things get interesting!  Where the client averaged only 8 photo debit cards per month, we generated 70 photo card contestants in 4 weeks (we are still waiting on actual new checking and new member numbers – the true test of success).

From the first day that the voting opened and from the first email to our 70 contestants, encouraging them to promote the voting – we saw an immediate and sustained jump to about 500 absolutely unique visitors per day.  Higher than either of our prior one-day spikes for TV or direct mail!  We are in our 7^th straight day with these sustained results.

THE LESSON

Social media is a powerful tool, but it does not work in a vacuum.  The success of the social media was built on 4 weeks of steady exposure in traditional media.

The social media aspect of this campaign is working because the target is motivated by a prize to push the credit union’s message.  But if 70 contestants can generate about 3,500 unique visitors to a site in just 7 days, without a penny spent on external media … imagine the impact of a sustained social media program, as part of a full on-going marketing effort, where you are offering valuable information, an occasional contest and random product specials.  

As you create your plan for 2012, it's important to consider how social media can help to strengthen your overall results when included the the rest of your media mix.

MarketMatch is a full-service marketing consulting firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

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