1. Vehicle Loan Digital Marketing
Q4 Proposal
by Adam R. Brown
Aug. 17th, 2017

2. SFFCU Business Model
Since 1954, San Francisco Federal Credit Union has been a member-owned financial institution. As a not-for- profit, we’re able to offer higher dividends on deposit accounts, lower interest rates on loans, and fewer fees than the big banks.

3. SFFCU Business Model Serves San Francisco and San Mateo Counties
No outside investors to pay back as a financial cooperative
Member deposits leverage equity for loans
Interest income from loans builds revenue
Excess capital used to assist community non-profits

4. Revenue Streams Mortgages and Home Equity Loans Taxi Medallion Loans
Vehicle Loans
Credit Cards
(Service fees to offset cost recovery purposes only)

5. Unique Value Proposition
On average, Millennials and Gen. X are not able to afford buying homes in the Bay Area, but need to buy cars to get around.
Millennials are the first generation growing up in a digital information era.
Print and television ads are becoming lost on this audience as they focus on internet channels.
Targeting this audience will help SFFCU create value of our trackable digital marketing channels and bring in more revenue from this source (Vehicle Loans).

6. Target Audience - Purchasing (National Average)
source: cutimes.com

7. Target Audience - Customer Persona / Empathy Map
Meet Driving Dara, 31 year old SF Resident
Doesn’t like the current economic impact of big banks and recent bank scandals
Thinks that big banks are the only way to get financing for the car she needs
Hears that credit unions are easier than banks, but doesn’t understand what they are
Sees rates offered from banks through dealer and manufacturer ads on TV and online
Averages 46 daily visits on Facebook
Proudly works for a community non-profit advocating social change
Drives a lot for work and visiting friends and family on weekends
Recently purchased a car from a dealer that gave her
12.49% APY through Wells Fargo. Her rate was high due to a
low FICO score. The payments are too large for her budget.
She doesn’t like supporting Wells Fargo, but she needed the
car right away after her last one was totaled.
After seeing San Francisco Federal Credit Union’s Facebook
ad, she’ll find the option to apply for a refinance at a lower rate.
Example: Her approval is for 6.49% APY, saving her 6% over
the life of the loan and $52 a month on her payment. Plus she’ll
feel good about supporting the local economy.

8. Elevator Pitch
For year olds in SF and San Mateo counties that need car loans, San Francisco Federal Credit Union can help them save with lower rates than the banks. Plus, keeping loans in a community-based economy proves that We Are San Francisco (tagline).

9. Current State of Digital Marketing
Final stages of a company rebranding display campaign with an emotional tone celebrating diversity and San Francisco values.
Tagline: We Are San Francisco
Current State of Digital Marketing

10. Current State of Digital Marketing
Consulting firm partners are helping us move from Awareness to Consideration of our website via 4 tactics:
1) Rich Media Display Ads and Banners (w/ Pixels) with high impressions and extremely low CTR (0.0004%) on Yahoo, AOL, and Reddit (Note: A/B Testing proved gay dads as best performing ad.) - missing our target audience on these channels
2) Branding videos on these channels with 0.002% CTR
3) Google SEM (Mobile 1st) - With a 16.73% CTR at $0.405 CPC, this is our highest value tactic currently. (Keywords list is very generic. It could be optimized with more long tail keywords).
4) Partnership with KRON4: Website banners and TV news segments (34x to 800,000 households) - also missing our target audience
1,242 callbacks were made from a “Request Information” button w/ Pixel from these channels *stats based on 2017 Q2

11. Current State of Digital Marketing
A small annual Facebook budget of $3,500 is being used for paid promotions throughout the year. These ads are for Awareness and Consideration purposes only. Most content is organic and unseen except for a branding video with high impressions (9.8k). It is not yet being optimized for Acquisition.
marketing has proven successful with monthly newsletters, triggered campaigns, and promotional information. 25,500 subscribers (acquired from account holders) have an Average Unique Open Rate of 25% with an Average CTR of 5%.

12. Current State of Digital Marketing
A quarterly campaign is sent to a targeted group of subscribers based on income and positive credit ratings. Unique Clicks are sent to a PURL for conversion. This is a high-value, ongoing campaign for generating revenue. Some of the copy could be simplified and more attractive:
Current State of Digital Marketing

13. Marketing Objective KPI: Completed Vehicle Loan Applications
Benchmark: Q2’s total of 261 applications valued at $83.13 each
Goal: Increase completed online vehicle loan applications by 2% for Q4 based on Q2 stats (267 completed applications needed by 12/31/2017)
ROI: Calculation based on Q4 campaign spend vs. value
(Loan application soon to be optimized for mobile)

14. Tracked in Google Analytics
Marketing Objective
Tracked in Google Analytics

15. Updated Ad with feature, keywords, and CTA
Tactic 1 - SEM PPC
Current Ad
Updated Ad with feature, keywords, and CTA
Targeted to 21 to 49 year olds in San Francisco and San Mateo Counties
Ad links to Vehicle Loan landing page with option to Request Information or Apply for Loan.

16. Tactic 1 - SEM Keywords Current Keywords Q2 Added Keywords Q4
auto financing new car financing
auto loan financing used car financing
auto loan rates san francisco car loans
auto loans low interest rate car loan
auto refinance low interest rate car loan san francisco
auto refinancing credit union car loan rates
bay area auto lender low car loan rates san francisco
car finance car refinance
car loan interest rate best car loan rates
credit union auto loan sf credit union auto loans
low auto loan rates new car loan rates
new auto loans used car loan rates
pre-approved auto loans car loan pre-approval
pre-owned auto loans new car loan pre-approval
refinancing loans used used car loan pre-approval

17. Tactic 1 - SEM Competitors
Most major competitors in the area / industry do not currently have PPC campaigns.
SF Fire CU, SF Police CU, & Redwood CU have no campaigns
Patelco -Keyword: automobile loans)
Golden 1 - Keyword: auto credit
Provident CU - Keywords: financing car, car finance loan, bankruptcy car loan
(Research via Spyfu & iSpionage)

18. “Completed Loan Applications” KPI from this channel can be measured by keyword performance in Google Analytics. 16 were completed for Q2.
Tactic 1 - SEM KPI

19. Tactic 1 - SEM Optimization
Q4 campaign can be optimized with more long tail keywords based on the success of Q2 keywords.
Example: “Auto+Loans” lead to 11 Completed Loan Applications for Q2. Long tail keywords could be “SF Auto Loans” and “SF Credit Union Auto Loans.”
Requesting $2500 total budget (additional $800 + $1700 current spend) to test new keywords

20. Tactic 2 - Facebook Paid Ad
Targeted to 21 to 49 year olds during Q4 in San Francisco and San Mateo Counties who may be Credit Union members, New vehicle shoppers (Max in market - likely to purchase in 90 days), Used vehicle shoppers (In market), or Purchased a vehicle in the last 24 months
Lifetime budget of $875 requested (1/4 of annual social budget)
Ad channels will be mobile newsfeed, desktop newsfeed, instant articles, and Instagram.
UTM Code will link to Vehicle Loan landing page with option to Request Information or Apply for Loan.
Facebook Pixel will be used for retargeting.

21. Tactic 2 - Facebook Paid Ad Creative

22. Tactic 2 - Facebook Paid Ad KPI
Facebook / Instagram KPI will be measured by Completed Vehicle Loan Applications from both channels in Google Analytics during Q4
Benchmark currently set at zero
Effectiveness of campaign will determine testing for future campaigns (hopefully with more engaging creative)

23. Tactic 2 - Facebook Paid Ad KPI

24. Tactic 2 - Facebook Paid Ad UTM Tracking

25. Tactic 3 - Email Campaign
s will be sent to all subscribers during Q4. We do not have a targeted demographic list in SubscriberMail.
Ad will be shown in 6 s: CTA specific monthly s monthly newsletters with a native ad
UTM code will be used in CTA from all s linking to Vehicle Loan landing page with option to Request Information or Apply for Loan.

26. Tactic 3 - KPI
Completed Vehicle Loan Applications in Google Analytics during Q4 from UTM parameter
Benchmark currently set at zero
Effectiveness of campaign will determine testing for future campaigns (hopefully with more engaging creative)

27. No Current Email UTM Campaigns (Based on Newsletters)
Tactic 3 - KPI
No Current UTM Campaigns (Based on Newsletters)

28. Tactic 3 - Email Optimization
Q2metrics in Google Analytics are from standard (generic) campaigns and monthly newsletters with native ads.
Unique clicks to our Vehicle Loan page will increase with more prominent Subject Lines and CTA in the .
A/B testing will be done on Subject Line in CTA s based on open rate.
Current campaigns for Vehicle Loans are very general without a prominent CTA.

29. Tactic 3 - Current Promo Email Creative

30. Tactic 3 - Updated CTA Email Creative

31. Measurement & Optimization
Benchmark KPI of 261 Completed Applications from Q2
All 3 tactic level KPIs add Completed Applications to the primary Marketing Objective (SEM + Facebook/Instagram + divided by 261)
Primary focus on ramping up the Facebook/IG campaign if conversion rate is successful for Q4. Willing to pull back on SEM/PPC budget to cover Facebook/IG spend as we are currently ahead of our peers (competitors).
ROI to be determined by spend from all 3 tactics vs. combined Completed Applications Value* (currently $83.13)
*Value = Q2 funded $ from online channels - $933k / 43 loans / 261 applications

32. Budgeting Total requested Q4 budget: $3,375.00
Margin: $1,675 on top of current $1,700 PPC budget
Projected 2% production increase from $933k = $951,660 ($18,660 increase)
$18,660 - $1,675 = $16,985 (>1,114% increase)

33. Unused Tactics
A/B Testing for Facebook creative due to current campaign. Future campaigns should have more emotional/engaging creative.
A/B Testing for Facebook geo-locations to see how the San Mateo County audience performs in comparison to San Francisco. This should be looked at once Facebook advertising has been more established.
A/B Testing for the website (it’s being updated).

34. We saved Dara some money!
Don’t forget…
We saved Dara some money!