2013 Bateman Case Challenge: Popmoney

Team 4

Taylor Dyer
Estelle Kasal
Sean Sargent
Alex Skinner

Executive Summary
Introduction
If you asked anyone on the Salem State Campus How do you do your banking?
before December 11, the answer would have been different for everyone.
After December 11 the answer was the same, Popmoney.

Banking Can Be Easier Than You Think!

Presently, students, professors, and parents alike are paying bills online. Money
transfer services are an up and coming product for the younger generation,
making money easier to handle and more accessible.
Knowledge is critical when banking. If someone is given the wrong information it
can affect more than their own bank account, but anyone else connected to it as
well. Falling behind on bills and rent can cause unnecessary stress to anyone,
especially college students.
The 2013 Salem State University Group 4 Bateman team recognized a need for
money transferring services in the Salem State community.
Popmoney helped the Salem State community recognize their banking needs and
develop the resources to help their bank accounts POP!

Situational Analysis (Revised)

Popmoney
Popmoney serves as a person-to-person, P2P, banking model. To understand
Popmoneys entirety, one would have to know that Popmoney is one of three
Personal Payments Services, PPS, offered by Fiserv, Inc. The personal payments
service options are Popmoney, Popmoney Prepaid, and Popmoney Small
Business (Fiserv.com). Popmoney currently maintains 113 clients, which
according to Fiserv, suggests a strong demand for its services. There are
currently almost two thousand banks and credit unions using Popmoney (Fiserv).
Consumer friendly, Popmoney can be accessed and utilized through apps with
iPhone, Android, and Windows Phone (Fiserv). This service contains many
features that benefit the user in unlimited facets.

Investor Risk (Fiserv Inc. History)

Fiserv Inc. is one of the top leading global providers of information management
and electronic commerce systems for the financial services industry, providing
integrated technology and services that creates value for our clients
(Fiserv.com) with a user capital of 55 million people. Fiserv has managed an
estimated 70 percent of all bill payments processed by U.S. financial institutions,
according to a group named Aite(Facebook.com/Popmoney/info). The company
also executes 20 billion digital transactions, an estimated $1 trillion per year
(facebook.com/Popmoney/info). Founded in 1984, the current headquarters are
in Brookfield, Wisconsin. The company owns 155 locations worldwide with
approximately 21,000 employees and gross revenue of $4.48 billion in 2012
(Fiserv.com). The Fiserv mission statement is, to provide integrated technology
and services solutions that enable best-in-class results for our clients.

Competition

Popmoney has several competitors that include;ClearXchange (partnership of

Bank of America, JP Morgan Chase, and Wells Fargo), Dwolla, Venmo, and
Paypal. The primary competitor is Paypal, launched in 2000, (Wikipedia) and
currently has 137 million active accounts (paypal). These accounts exist across
193 markets consisting of 26 currencies worldwide (paypal). Approximately eight
million payments are made daily andPaypall projects an estimated $20 billion in
mobile payments in 2013 (paypal). The direct competitor of Popmoney is
Dwolla, with an estimated 20 million active user accounts (Wikipedia/dwolla).

Secondary Research (Revised)

College Students

Every Student on the Salem State Campus has access to the Internet and all
types of social media. In 2009, U.S. ad spending plunged nine percent; according
to consumer research firm Nielsen, shedding $11.6 billion dollars, due to viral
videos being posted on websites like Facebook and YouTube. In 2010 the
average American adult spends 10.6 hours a day online. By placing ads on
Facebook, we are able to target the younger demographic of college-age
students, in a very specific way. With the capabilities that Facebook has, our
target audience would be reached directly. It narrows down the students that
might actually be interested in Popmoney services. Anytime a Facebook user
searches something Paypal related, or if Facebook recognizes that a user is doing

a lot of online shopping, then Facebook then can and will put our Popmoney ad
all over his or her newsfeed.

Adults age 40 and older

Two-thirds of adult banking customers use some type of online banking service.
A recent survey of 5,000 nationally representative adults, sponsored by NACHA,
asked people why they decided to pay their bills online? The number one answer
was to access their accounts more easily. By introducing Popmoney to these
customers would be very beneficial to them for various reasons; it puts them in
control of their money, it saves time, and you always know how much money is
being sent and where it is going.

Primary Research (Revised)

The Salem State Group 4 team conducted qualitative primary research to learn more
about the habits of our audiences, by conducting a survey. Survey data for the 35
respondents was analyzed across demographic categories of age and socioeconomic
status. The focus of the survey was to see where college students stood with their
finances. It also surveyed the parents of college students, where they stood with their
finances, and how connected they are with their kids.

College Students

Our survey research showed that a majority of college students who live on
campus or rent an apartment pay at least one bill online and shop online at least
once a month. They also have access to a smartphone where the majority of
them use online banking and one type of automatic debit (i.e. PayPal,
Popmoney, phone bills).
Research also showed that every single college student surveyed has a Facebook
page and tends to learn about new products via Facebook ads. Half of those
students say that they would be interested in using Popmoney after seeing an ad
for it.
Research revealed that our demographic is more inclined to fully watch an
advertisement online if it is under two minutes. Results from our survey indicated
that the observer would be inclined to skip the advertisement if they did not find
it humorous or entertaining within the first 30 seconds. The research further
revealed that users inclined to use this service would be those who utilize virtual
financial needs.

Adults ages 40 and older

Almost half of the parents surveyed said that they pay one or more bills online.
The other half still felt more comfortable paying other ways. Out of the fifteen
parents surveyed twelve of them said they send their children money at least
once a month. Half of those parents said they would be comfortable using a
money transfer service rather than sending money or a check in the mail. All
fifteen parents surveyed said yes to being skeptical about putting their
information online, and sending money electronically.

Target Audiences (Revised)

Based on Primary and Secondary Research the Salem State Group 4 identified one
primary audience at Salem State University
Secondary audience is parents of College students aged 40 and older.
The majority of the population in Salem, MA is white, (with 81.5%), followed by
Hispanic (15.6%), and African American (4.9%). Our target audience will predominantly
be made up of those three. More than half of the Salem population is women. The
median household income is $56,203.

Primary Audience

College Students
The average college student has between 2-5 bills to pay a month. This makes
them a great target audience because they are a technologically advanced age
group and understand how online bill pay works. For them it would seem like the
most convenient option. Also, college students tend to purchase tickets for
various events; sometimes one person in a large group will buy all the tickets.
People who have to pay back can just send it via Popmoney. In the last few
years, online shopping has grown so much, roughly 27% of all consumers online
shop, which means a good portion of these people probably use some type of
online payment method.

Secondary Audience

Adults ages 40 and older

The appeal for the older target audience will center around their children who
are in school and/or studying abroad. Its a safe way for them to transfer money
to their children when they need it. Once they see this working they may be
willing incorporate it into their lives and begin online bill paying. If they are self
employed and have some employees its a good way to start paying them. So
hopefully, by targeting these two audiences it will cause a snowball effect and
get many other groups of people interested in it.

Key Messages
The Salem State Group 4 team constructed four audience-driven key messages to
combat misperceptions by bringing accurate information to the forefront, stimulating
conversation

Simple Ways to Access Popmoney

Survey research shows that most audiences have some access to the Internet
and understand it well enough to access the Popmoney website or app on their
smartphones.

Banking Made Easy!

Research showed that most audiences have either a checking or savings account
at one or more banks. It is safer to send money electronically than to write
checks or hand out cash. It is also safer to transfer money account to account
then through a middleman.

Convenientin a timely fashion!

Using Popmoney is a definite way to ensure that your money will be sent and
received on time. Paying bills/rent or just paying back a friend becomes easier.
There is no longer the hassle of going to banks to make deposits; it is as easy as
a click of the button.

College Students Far, Far Away!

According to research most college students still rely on their parents to send
them money while boarding at colleges and universities. Parents now can click a
button on their iPhone or computer to send money securely to their children. Its
less stressful and time consuming than mailing it out.

Goal, Objective, and Outcome

(Revised)

Goal

Instating a brand awareness campaign of Popmoney and its services is our

primary objective to acquire company literacy within our demographic.

________________________________________________________________________________________________

Objective 1

Promote brand awareness of Popmoney and the services it provides to the

population of Salem State University, and beyond, by December 6, 2013 using
guerilla marketing.

Strategy 1

Engage the college and community audiences via on campus awareness.

Rationale

Our research revealed that the majority of students articulated at Salem State
University enjoy participating in on campus events where freebies are
rewarded.

Tactic 1

To engage the audience of Salem State University, the Popmoney guerilla

marketing team will engage the Salem State University community by pitching a
Popmoney tent with a T-shirt gun promotion. A waiver will be issued to students
and community member who wish to participate in the event. A member from
Popmoney will launch a t-shirt from the gun the distance of the grass quad with
the purpose of having the community member catch the t-shirt.

Tactic 2

Other freebie material to promote brand awareness will accompany Popmoney tshirts. During this on campus promotion, stickers will also be distributed to every
community member who walks past the promotional tent.

Strategy 2

Attract attention towards Popmoney by engaging people passing by the event

creating brand awareness.

Rationale

This strategy is being implemented to generate a correlation to promote further

brand awareness to our primary and secondary audiences.

Tactic 1

Engage the college and community audiences through strategic implantation of

balloons, where participants compete in two lines to pop as many balloons as
possible in 30 seconds. The participants must pop the balloons without utilizing
their hands. The winner receives two (2) free money transfers and a water
bottle. To promote brand awareness further, the utilization of balloons to
correspond with the name Popmoney will be used. When consumers think of
balloons popping, they will then think about Popmoney.

Tactic 2

Dispersing promotional freebies to winners will spread brand awareness

throughout the campus community and beyond. The goal is to gain as much
word of mouth advertisement by engaging publics.

Objective 2

Bring in more Popmoney users by making them aware of other capabilities

Popmoney can offer.

Strategy 1

Offer a hands-on module for personalized walk-through of service.

Rationale

In our survey, we found that many people in our demographic were unlikely to
switch to a service that they felt more uncomfortable or unfamiliar with.

Tactic 1

At each guerilla-marketing event, someone from Popmoney will be available to

assist a customer on his or her phone, computer, or device that they use the
most.

Tactic 2

Popmoney customer courtesy assistants will be available to Facetime through the

Popmoney website to get immediate and accurate help if need be.

Strategy 2

Use different forms of media.

Rationale

Our primary research showed that the demographic we would like to reach uses
social media platforms to each platforms fullest extent. Thus, the message we
send out will be easier translated into our audiences minds, and in an eyecatching way as well.

Tactic 1

Form Instagram and Twitter campaigns, and post Youtube videos. All content
posted on these platforms will be some sort of instructional and informational
statement about Popmoney.

Tactic 2

Create Capture Code stickers, posters, and balloons to place all around streets
posts, Salem State University Campus, and buildings. These capture codes will
lead Popmoney users directly to an informational screen, instagram picture, or
video explaining how to make the easy transition from paypal to Popmoney.

Objective 3
Using Facebook and Twitter in various ways for promoting our brand.

Strategy 1

Utilize the hashtag on Twitter and Facebook.

Rationale

Our research showed us that our target audience is seeking advertisements that
are somewhat comical and sharp looking. And hashtags help us to achieve
that while also generating brand awareness all over the internet.

Tactic 1

Use guerrilla marketing tactics to cover the campus with #popmoney stickers.

Tactic 2

Use guerrilla-marketing tactics to cover the campus with similar stickers but
changing the brand name to similar words.
Ex. #pinkmusic or #piemuseum

Strategy 2

Develop different networking contests or campaigns.

Rationale

Consumers will be less skeptical of trying something different if most of their

friends enjoy using the service.

Tactic 1

Offer a free money transfer to any consumer that gets five or more of their
friends to use Popmoney during their first month of signing up.

Tactic 2

If you use our service with at least 10 separate people during your first month of
service, then all of your money transfers will be free for an entire month.

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