Just last month we published a report (here) about the large, and mostly unmet, opportunity to bank tweens/teens AND their parents.
Evidently ING Direct didn’t need our report. The direct bank, soon to be part of Capital One, is launching an aggressive $10 million advertising campaign for its new MONEY account (note 1). There’s no official mention of the program at ING Direct, except for a wall post on its main Facebook page (see last screenshot).
However, several online elements have been released:
- Microsite <ingdirectmoney.com> (see first screenshot below)
- Facebook page <facebook.com/ThatsMoney> with 129 likes as of 2:00 PM Pacific, Aug. 29 (see screenshot 2)
- Facebook app (screenshot 3-5)
Product: There’s only a few sentences describing the product, but it sounds like a standard checking account with debit card access. It will have no fees and no minimums and can be managed online (duh) and through a smartphone app.
Campaign: The $10 million campaign (note 2) is primarily fulfilled via Facebook (see screenshots below) and includes:
- Advertising on Facebook and online
- Supporting sweeps has (10) $1,000 prizes, (10) MacBooks, (20) iPod Touches
- Those submitting pictures of themselves, may get it projected on a Times Square Jumbotron for 15 seconds (begins Sept. 15)
Our take: With 1% rates killing its traditional value proposition, it makes perfect sense for ING Direct to build for the future by positioning itself as a place that caters to the banking needs of the entire family. Well played.
1. ING Direct’s teen-banking microsite at ingdirectmoney.com (30 Aug. 2011)
Note: In the lower right is a “pre-registration form” where the bank collects the name and email address of interested parties
2. Parents are encouraged to send a message to their children to let them know about the sweeps
Note: The lower right contains a place for parents to send email messages to their children
3. Facebook page at <facebook.com/ThatsMoney>
3. Facebook page info page (Facebook app)
4. Facebook page sign-up form
5. Thank-you page after pre-registering
6. Wall post this afternoon on main ING Direct Facebook page (link, 30 Aug. 2011)
1. New agency Berlin Cameron is spearheading the effort according to today’s Adweek article.
2. That’s about 40% of ING Direct’s projected $25 million media spend for 2011.
3. Hat tip: MyBankTracker
4. For more on teen banking, see our recent Online Banking Report.