Proposed Marketing Concepts for the Wells Fargo Super Pass

November 2008

Jeff Bigley

Michael Hamling

Josh Leiker

Nicole Wedel

1.0 Executive Summary

The Wells Fargo 2 for 1 Rocky Mountain

Super Pass offer has been in existence for

7 years and has been especially popular in

2006 and 2007. However, Wells Fargo has

asked us to find new ways to market the

offer and to increase voucher

redemptions. We have researched and

analyzed the competition, the market, and

Wells Fargo’s current tactics, and

formulated new, fresh ideas to

supplement these tactics.

The target customers of this campaign,

students and faculty/staff of universities,

are two very different groups. They

respond to different kinds of advertising

and enjoy different activities. However,

they both seek the same benefits from

their financial institutions, such as

reliability and convenience. Both groups

also tend to enjoy skiing and

snowboarding in their free time.

We found that Wells Fargo has not been

as student-oriented in its marketing

approaches as some other banks. This may

lead to the student market feeling

underappreciated and they may not

consider Wells Fargo as a good fit for

them, despite the Super Pass offer. We

have designed a campaign for the students

that is relevant across the various

campuses along the Front Range, as well

as youthful enough

to gain the trust

and attention of

this unique market.

Our theme “Save

some dough

here…Shred some

snow here”

permeates our

media choices, and

our “Call it…Click it…Combo it” feature

adds convenience and integrates

technology for those who seek

information about the offer.

For the student segment, we have

developed a strategy of tying music, the

excitement of the slopes, print ads, and

pages on Facebook and Myspace together

for a multi-sensory, confluent campaign

that reaches students in a unique and

relatable way. For the faculty and staff, we

created a simple direct mail campaign that

will efficiently communicate the benefits

of banking with Wells Fargo as wells as the

value of the Super Pass offer in a creative

format.

The most unique aspect of our campaign

will be the sponsorship of local bands. This

seems appropriate to us

because Wells Fargo

prefers to use its

marketing budget to

sponsor events and

programs in the

communities in which its

branches operate. It also

allows a greater flexibility

to reach the student

segment.

Also included is an all-encompassing

itemized budget that illustrates exactly

how much each element of our proposed

campaign will cost. Our total costs for the

campaign are just under $60,000. We will

evaluate the success of the campaign in

December of 2009, when all vouchers

have been redeemed. A tracking method

to record from which school each

redeemed voucher came from is also

included in the proposal.

2.0 Promotion Opportunity Analysis and Communications Analysis

Who are the major competitors?

a. According to a direct competitor analysis by the

Hoovers editors, Wells Fargo’s top competitors

are: Bank of America and US Bancorp

What products do they offer? (We chose to research

products offered to the student and faculty

demographics)

b. Bank of America: An August 28. 2008 article in

USA Today discusses Bank of America’s push to

gain the student market by offering, among

other things, financial knowledge and college

tips through their “Morris on Campus”

program.

i. Excerpt from the article: “Morris on

Campus,(TM) Life According to an

Upperclassman,(TM) provides

college students with tips on

how to navigate campus life,

including money matters, through

Webisodes, additional online content as

well as offline communication pieces.”

Bank of America also provides a student

package including financial education materials

and banking tools that they feel are convenient

for students, which can be viewed online.

ii. USA Today describes the student

package as “…a suite of easy-to-use

banking products designed specifically

for students, while also pointing them

to helpful financial resources, such as

the Student Financial Handbook, a

downloadable guide that provides

students with easy to understand

explanations and advice on an array of

financial topics.”

c. US Bancorp (US Bank): US Bank also offers a student banking program.

i. The “US Bank Student Checking” program includes:

1. No monthly maintenance fees

2. No minimum balance requirement

3. Free checks

4. Free ATM withdrawals from any ATM

5. After 5 years, the account automatically converts to “US Bank Free Checking”

6. Access to discounts on products from Pizza Hut orders to Office Max supplies through the “US Bank

Shopping Mall”

7. Campus ID/Debit Card hybrid for students at partner schools

What do the competitors say about themselves? Bank of America:

-Mission: to offer lending and investment products that

-Serve low and moderate-income individuals and families

-Improve underserved low and moderate-income communities

-Their community development lending and investment goal is to lend $750 billion over the next 10 years which is one of the largest community development goals ever established by an American financial institution

US Bank:

Provided more than 20 million in cash grants to qualified nonprofit organizations in 2006

Made more than $21 billion in loans and investments during 2006 to help support the creation of affordable housing, economic revitalization, and organizations providing critically needed services to low- and moderate-income individuals and areas

What do they do in terms of advertising and promotion?

Banks marketing to college students often try to get them to sign up for package deals much like Wells Fargo, but they tend

to offer themed ad campaigns such as web sites rather than items such as the ski pass. Most banks do offer some sort of “gift” for

signing up but that is mostly geared to a general audience and not just college students or faculty. A major theme that almost all

banks try to promote is free checking accounts for students.

Bank of America also had an excellent college themed campaign with their “Morris on Campus, Life According to an

Upperclassman” web site. A major theme of their campaign is getting students to use more mobile banking features.

Their site features tips for college and managing your money and is tailored to the younger college audience.

They also have a mini “net-show” on their site discussing the different aspects of college life and banking.

Bank of America also has run a promotion for students to win $25,000 for offering their best financial tips relating to

on and off campus life.

What do other people say about the competition?

To better understand why people choose their bank rather than the other banks available, several interviews with customers were conducted from US Bank, Bank of America, and 1st bank. When interviewing the customers at Bank of America it was found

that most of the people who banked there were in their middle ages. A woman named Lisa Cox at age 43 who has banked at Bank of America for over 10 years was interviewed. Two questions were asked about why she chose there and not at another competitor. The interview had these conclusions:

Why are you banking with Bank of America? I enjoy the atmosphere that they offer to their customers. They allow the consumer to feel that he/she is important and help them any way they can. Also, the attitudes of the bankers and tellers let me know that if I need help ever they will be there for me.

What is different about them than other banks that compete with Wells Fargo? Bank of America offers more towards a business-minded person. This difference is created for the typical person who wants to concentrate on investments, business accounts, or an abundance of money. My bank has more of a feeling of security than the other competition in my opinion. When dealing with the amount of money I do, I wouldn’t want another bank to handle my transactions.

The same two questions were asked to US Bank customers. It was found that most people from US Bank were older consumers and college students. The name of the person interviewed was Elizabeth Nair at age 72; she has been at US Bank for over 13 years. The following is how she responded to the questions I asked:

Why are you banking with US Bank? The main reason I bank with them is they make it simple for older people to understand the system. US Bank does a great job at helping their customers understand what they are doing with your money. This offers me knowledge that my money is in good hands. Another reason I bank with US Bank is because they have ATM’s at locations that are convenient for me in my retirement home.

What is different about them than other banks that compete with Wells Fargo? When I looked at the other banks and what they offered I was drawn to the fact that US Bank was so helpful. I went into other banks and I had such a hard time understanding what the banker was telling me. The difference about them is that they keep things simple. Other banks try to tell the person all about every one of their products; here they only tell you about what product you’re interested in.

Opportunity Analysis

A variety of unique promotional opportunities exist for

marketing the Wells Fargo Super Pass Offer. Wells Fargo is the

largest bank in Colorado, and has an established a reputation

for being a reliable institution through qualities such as the

company’s lack of involvement in the recent foreclosure crisis

and its financial stability throughout the economic downturn.

For this reason, we feel that heavy advertising through

media such as television, radio, and newspapers would be

inefficient. Wells Fargo’s prominence and numerous locations

mean that most consumers are already very aware of the

company and have likely associated positive attributes such as

stability and convenience with the Wells Fargo brand.

The challenge in this circumstance is to reposition

Wells Fargo in the students’ minds as being youth-oriented

and in tune with the desires and needs of students as well as

attracting the older, but still active, faculty and staff members.

The benefits of the Wells Fargo Super Pass offer would be

better articulated through promotional activities such as

events, sponsorships, and sweepstakes. The events and other

promotions could be customized to meet the two dissimilar

markets so that the students begin to feel more allied with

Wells Fargo, and the faculty and staff still think of Wells Fargo

as a reputable, reliable institution that will take good care of

their finances.

Currently, Wells Fargo has invested great amounts of

time and interest to community reinvestment. According to

Wells Fargo’s website, the institution made $33.4 million in

Community Reinvestment Act-qualified community

development loans and investments throughout Colorado in

2006 alone. Wells Fargo donated $3.9 million in 2007 to 1,000

nonprofits and schools in Colorado, including $189,000 that

Wells Fargo matched when team members contributed to pre-

K through college educational institutions.

It is obvious that Wells Fargo has made significant

efforts to invest positively in the community, but we feel that

even greater impact could be made in terms of promoting the

Wells Fargo Super Pass offer by sponsoring events and

activities that appeal to various segments of our target

market, which will be discussed in further detail later in the

following sections.

Target Market Analysis

Target Market: College students and college faculty and staff along the Front Range

Demographics by Geographic Region:

University Northern

Colorado

Colorado State University University of Colorado,

Boulder

University of Colorado,

Boulder

11,509 Undergraduate

Students

24,700 students

28,988 Undergraduate

students

21,000 students

390 Full time faculty

members, 170 part-time

faculty members

1,450 Faculty members

6,902 Faculty Members

800 faculty members

We chose students, faculty and staff from University of Northern Colorado, University of Colorado at Boulder, and Colorado State

University, and Metropolitan State University because these schools have significant populations and are located within a

reasonable distance from Copper Mountain and Winter Park. UNC’s campus is the furthest from the ski resorts with a travel time of

about 2 hours and 30 minutes. We did not choose University of Denver, for example, despite its proximity to the ski resorts because

the student population there is only about 10,000 students, which is significantly less than Metro State.

The key aspects of the Generation X members of the faculty

and staff target market are that they tend to be more

financially secure, and therefore capable of spending money

on frequent skiing or snowboarding trips. They also prefer to

spend their free time enjoying high-energy activities, as

opposed to things like gardening or reading. This would make

college faculty and staff more prone to outdoor activities,

especially skiing and snowboarding in the winter. Research

also revealed that members of Generation X were the original

inventors and participants of snowboarding, meaning that

many members of our faculty or staff market would already

have a tendency towards the winter sport. These factors make

the younger portion of the faculty and staff market good

targets for the Wells Fargo Super Pass deal.

The Baby Boomer members of the faculty and staff are also

prime targets for the Wells Fargo Super Pass deal. The

2006/2007 Kottke National End of Season Survey₇ states that

there is “strong growth in the 45 – 54, 55 – 64, and 65+

segments,” most of whom are in the Baby Boomer generation.

The survey also explains that “the proportion of visitors living

in…empty nester households continues to trend up,” which is

another common attribute of Baby Boomers. According to

research, many of the Baby Boomers now are “empty nesters”

whose offspring have moved out of their parents’ homes. This

will give the Boomers more leisure time to enjoy time-

consuming activities such as skiing or snowboarding. The

financial power of the Boomers is another reason for focusing

on this generation – they have more money to spend and

more time to spend it. According to the Digital Boomer Agency

on immersionactive.com, the Boomers will outspend younger

adults by $1 trillion annually by the year 2010. The Boomers

can also be valuable to marketing because of their high

participation in word-of-mouth advertising, which could

increase the popularity of the Wells Fargo Super Pass deal.

University students that are members of Generation Y are also

included in our target market for several reasons. First of all,

research described this group as independent and self-reliant,

which could mean that they enjoy activities in which they can

excel individually, such as skiing and snowboarding, rather

than group activities. This group has also been noted by USA

Today to have “financial smarts,” which might make a 2-for-1

deal on the Super Pass an attractive option for saving money.

USA Today also described Generation Y as prioritizing their

personal lives rather than their careers. This could mean that

students in Generation Y are more likely to rearrange their

schedules to make time for skiing and snowboarding trips.

Customer Analysis

We conducted a survey in two popular student venues to get a better understanding of the entertainment preferences of the

student segment of our target market.

Results of Informal Survey: Greeley

This survey was a random sample of 30 people attending a show by the band Ben Pu and Crew at the popular student hangout, The

Penalty Box, on October 18th. Each person answered the same questions. A rough headcount of people in The Penalty Box about an

hour into the gig was about 200 people. An official number was unavailable because the venue was not recording entrant numbers

that night.

1. Are you a student at UNC? Yes: 27 people No: 3 people

2. Do you ski or snowboard? Yes: 19 people No: 11 people

3. If yes, how often do you go? 1-3 times a month: 10 people 4 or more times a month: 9 people

Results of Informal Survey: Boulder

This survey was a random sample of 30 people attending a Ben Pu and Crew show at Connor O’Neill’s, a pub-themed bar popular

with CU students for its wing specials and Irish beer selection, on November 13th. Roughly 150 people were in the venue two hours

into the gig. Each person answered the same questions as the respondents in Greeley.

1. Are you a student at CU? Yes: All 30 people questioned were college students, 28 at CU, 1 from DU and 1 from UNC.

2. Do you ski or snowboard? Yes: 26 people No: 4 people

3. If yes, how often do you go? 1-3 times a month: 15 people 4 or more times a month: 11 people

Analysis: It is clear that students make up a large proportion of

the nightlife during live band performances at local bars. 90%

of those randomly chosen in the Greeley survey were

students, and 100% of the people sampled in Boulder were

students from CU, DU and UNC (although a vast majority

attended CU). 63% of Greeley respondents said they ski or

snowboard and 30% said they ski or snowboard 4 or more

times a month. We can reasonably assume that out of the 200

people in attendance that night, 126 people were eligible

targets for the Rocky Mountain Super Pass, and 60 people

would benefit further due to the frequency of their skiing and

snowboarding excursions. In Boulder, the results were very

exciting. The population at Connor O’Neill’s was clearly very

heavily weighted towards students, and 86% of the

respondents said they ski or snowboard! Similar to the

Greeley results, 36% said they ski or snowboard 4 or more

times a month. We can guess that around 129 people in

attendance would be viable targets for the Rocky Mountain

Super Pass, with 54 of those people being frequent skiers.

We can conclude that marketing through live music

performances by bands that are popular with college students

could be beneficial due to the high proportion of skiers and

snowboarders in attendance at these events. Also, linking

Wells Fargo to bands that are popular with students could

help younger people feel like Wells Fargo is more in tune with

their generation.

Positioning Analysis:

Wells Fargo is seen as one of the top banks in America. The institution has around 3,300 branches spread out throughout the West

and Midwestern United States. Some of Wells Fargo’s similar competitors include Bank of America and US Bank. These are all

national “big bank” type companies, and typically are seen opposite from smaller local banks such as New Frontier Bank in Greeley.

People view Wells Fargo as very reliable and strong, especially as compared to other banks in the current economic downturn.

Typically, Wells Fargo is currently positioned in the consumers’ minds as more of a “mature” bank and tends to focus more heavily

on their career-driven, more financially secure, older customer base. Another factor for this is the fact Wells Fargo is viewed as a

leader in residential mortgage lending business, which students are not likely to be a part of.

2.2 Market Segmentation Strategy

Our target market is most highly segmented by age. Our campaign includes two different tactics: one geared towards students aged

18 to 25, and one geared towards faculty and staff aged 30 to 65. The student market will be more reachable through our event-

oriented marketing because this market segment is active and likes to go out in their free time. Direct mail will be more effective for

faculty and staff who spend more time in their workplace. Benefits sought from financial institutions are similar throughout both

target markets. All age groups desire free checking, reliability, and convenience. Wells Fargo has already positioned itself positively

in those categories, so marketing the various benefits of banking with Wells Fargo does not need to be adjusted to meet either

particular group. Instead, it is most important to find an effective advertising method for both groups in order to raise awareness

about the 2 for 1 Super Pass deal and, in the case of the student market, reposition Wells Fargo as a student-oriented institution

instead of exclusively an adult-oriented institution.

3.0 Strategies

We have developed a strategy of tying music, the excitement of the slopes, print ads, and pages on Facebook and Myspace

together for a multi-sensory, confluent campaign that reaches students in a unique and relatable way. We will also use

newspaper advertisements and flyers with the common theme “Save some dough here….Shred some snow here” to promote

both the Wells Fargo College Combo and the Super Pass offer.

Our strategy for faculty and staff is to use creative direct mail to make this market segment aware that they are eligible to

participate in the 2 for 1 Super Pass offer.

4.0 Campaigns Objectives

The target market for this campaign is typically a younger, more active person. The campaign will reach this market by repositioning the brand image and appealing to their interest. The repositioning of the brand image will contain three IMC objectives.

1. Increasing the market share for college students in selected regions by appealing to their interests in music and active, outdoor lifestyles.

2. Using online social networking to spread the word about Rocky Mountain Super Pass promotion amongst the target market. 3. Use direct mail to promote the Super Pass offer to faculty and staff of selected regions. 4. Increase the amount of redemptions by 15% from 2006’s numbers up to 6,440 redemptions.

5.0 Advertising

Newspaper Advertising:

The first aspect of our advertising campaign will be print ads in the school newspapers at University of Northern Colorado, University

of Colorado at Boulder, and Colorado State University, and Metropolitan State College of Denver. We will run these ads from August,

when college students have begun classes, through November, when ski pass purchases drop off. The print ad includes our

advertising theme for students, “Save some dough here…Shred some snow here.” Also included throughout our student-oriented

advertising campaign is the element “Click It…Call It…Combo It.” The “Click It” segment provides the URL for Wells Fargo’s MySpace

page, which will be discussed next. The “Call It” segment provides the phone number to the Wells Fargo location that is closest to

the university. “Combo It” relates both to the College Combo and to snowboarding terminology.

An example of our print ad

Online Advertising:

Most students are aware of, and familiar with, MySpace.com. Currently, when a person uses the MySpace search engine to search

for users, the page we’ve created for the Wells Fargo Super Pass is the very first profile that appears when “Wells Fargo” is typed in

the search box. This page carries the same “Save some dough here…Shred some snow here” theme. It also has more in-depth

information about the Super Pass and the College Combo. The profile can incorporate songs by local bands, and our sponsored

bands (discussed in the next section) will have a banner on their MySpace pages linked to this page. All ads and flyers include the

direct URL, www.myspace.com/WellsFargoSuperPass. Students who are not MySpace members can also access this page and all its

features.

A Facebook account has also been set up to promote the campaign. The Facebook page will have a masking link of

http://www.WellsFargoSuperPass.com that will lead directly to the Facebook page. Here events can easily be scheduled, promoted,

and sent out to everyone who is friends with the Facebook account.

Both social networking sites will allow for very cheap, effective advertising and even allow students who have a 2-for-1 Super Pass to

find a partner to take advantage of the promotion with.

Direct Mail:

Faculty and staff would be easily reached by direct mail. Most in-office mailing directions are readily available online and easy to use

once compiled. We feel that a faculty or staff member is more likely to pay attention to a direct mailer that is not “junk mail”

formatted. That is why we have designed three postcards with an affective approach. We will mail each postcard once at the

beginning of September, October, and November for a total of 3 contacts. The post cards are 4x6 inches.

5.1 Sponsorship

A key element of this campaign is sponsorship of local bands in our target cities of Greeley, Fort Collins, Boulder and Denver.

According to the survey and analysis in the Customer Analysis section, our target market is prominent at live music shows in local

bars and music venues. Sponsoring each student hotspot would be very expensive and probably ineffective due to clutter. However,

sponsoring a band would allow Wells Fargo to go anywhere the band goes. The elements of the sponsorship would be very formulaic

and easy to implement.

A). Wells Fargo Plugs: The sponsored band will be required to read each script once during a gig for a total of 3 Wells Fargo Super

Pass deal plugs. The scripts are written to sound very natural and more like advice about a great deal, as opposed to an

advertisement for Wells Fargo.

Script for Wells Fargo plug during concerts

A band member will read each version once in 30 minute intervals.

1) “We just want to thank Wells Fargo for sponsoring us tonight…. For all you students who are skiers and snowboarders out

there, Wells Fargo can get you a 2-for-1 deal on the Rocky Mountain Super Pass if you sign up for their Wells Fargo College

Combo… it saves you a ton of money if you like to hit the slopes…come grab a flyer, if you’re interested”

2) “All you students who like to ski and snowboard… if you sign up for a Wells Fargo College Combo, you can get a 2-for-1 deal

on the Rocky Mountain Super Pass and save like 400 bucks… the flyers are on this table over here…”

3) “Don’t forget, if you don’t already know…students just have to sign up for a Wells Fargo College Combo to get two Rocky

Mountain Super Passes for the price of one… it’s really easy and it’s a great deal, so come grab a flyer or just head into a

Wells Fargo bank and ask about it…”

B). Wells Fargo/Super Pass Flyers: Each band will be equipped with flyers, which they will place in an accessible area in the venue.

C). Stage Wrap: Each band will have a banner that wraps around elevated performance platforms (called a stage wrap). Stages are

generally similar from venue to venue, so one stage wraps about 2 feet tall and 8 feet long should be sufficient.

D). MySpace Banner: Each band will have a banner on their MySpace page linking the viewer to the Wells Fargo Rocky Mountain

Super Pass deal MySpace page.

5.2 Media Plan

The four school newspapers in which we will advertise have a reach of about 100,000 total students, faculty, and staff members in

our four target schools. This information is based on total student and faculty counts from the schools’ websites, plus about 4000 to

account for staff numbers, which are unavailable. We will advertise in these publications once a week during August through

November, for a total of 12 advertisements per newspaper. Information about more precise estimations of reach will be included in

the Itemized Newspaper Advertising Budget section of the Budget.

The sponsored bands should reach approximately 200 people per show and will have 4 sponsored shows per band each month from

September through October. That is a total of about 9,600 people. Of course, this number can be much greater if the band plays

larger festivals or more popular venues.

The direct mailers will reach about 13,000 people, which includes official faculty information from the schools’ websites, plus 4000

for uncounted staff members.

6.0 Evaluation

We will evaluate our campaign in December after all Super Pass vouchers have been redeemed. At this point, we will be able to

discover whether we’ve met our objective of increasing voucher redemption by 15% from 2007 figures to 6,440.

We also will use a tracking method throughout the campaign so that we can evaluate how many voucher redemptions came from

each school. 57 Wells Fargo locations, closest to the four target schools, will hole-punch the vouchers with a different shape

assigned to the school that the person attends or works for. Evaluation based on this tracking method will tell us whether more

focus needs to be placed on certain locations.

7.0 Budget

The Campaign Budget Accounts for our Advertisements run in college newspapers, the amount of money we are paying each band for the shows

they perform, the cost of printing out postcards, the cost of the direct mailing of postcards, the banners given to each band to wrap around the

stages where they perform, and the registering of the domain name for the specific Wells Fargo Super Pass promotion website.

Itemized Newspaper Advertising Budget:

We will be running ads once a week in three different news papers which include, The UNC Mirror, The Metropolitan, The Rocky Mountain

Collegian, and The Boulder Daily. We will be running a half page advertisement during the Monday addition of each news paper except for the

Metropolitan which is only published on Thursdays. The Newspaper Budget is split up according to the demographics of the schools. The Largest

percentage of students in Colorado attended school in the Metropolitan area; therefore the largest percentage of the budget was allocated to

that areas School newspaper.

The UNC Mirror (University of Northern Colorado)

Approximate Reach: 12,075 Frequency: 12 Approximate number of Impressions: 144,900

Local Rate: $8.25 per column inch Half Page (5 Columns x 7 inches) = 35 Column Inches 35 Column Inches x $8.25________ $288.75/advertisement x 12 (frequency)_ $3,465 Ads will run once a week from August 24th – November 9th 2009 The Metropolitan (Auraria Campus, Metro State College of Denver)

Approximate Reach: 5000

Frequency: 12

Approximate number of Impressions: 60,000

Local Rate: $8.00 per column inch

Full Page (4 columns x 14 inches) = 56 column inches

56 Column Inches

x $8.00________

$448/advertisement

x 12 (frequency)_

$5,376

Ads will run once a week from August 13th – October 29th of 2009

The Rocky Mountain Collegian (Colorado State University)

Approximate Reach: 34,013

Frequency: 12

Approximate number of Impressions: 408,156

The Open Rate: $10.00

Half Page (6 columns x 11 inches) = 66 column inches

66 Column Inches

x $10.00_______

$660/advertisement

x 12 (frequency)_

$7,920

Ads will run once a week from August 24th – November 9th 2009

The Boulder Weekly (University of Colorado at Boulder)

The Rate for ½ page horizontal (8ci x 6ci)

½ page x 13 times = $573 per advertisement

573/advertisement

x 13 times______

$7,499

Ads will run once a week from August 24th – November 16th of 2009

Band Budget:

The budget for the bands is allocated by multiplying the number of shows each band will be required to perform at by the amount each band

will be paid for each show. That number is then multiplied by the number of bands.

12 overall shows

x $200 per show

$2400

x 4 bands_____

9,600

Postcard Printing Budget:

The budget for postcard printing is allocated using the rate for printing post cards in thousands which is $115 per thousand post cards printed.

That number is then multiplied by the approximate number of post cards being sent out through direct mail which is 9,750/1000 = 9.750. There

will be 3 waves of direct mail.

$115

x 9.750_

$1122

x3____

$3,364

Source: Overnightprinting.com

Direct Mailing Budget:

The Budget for the Direct Mail Budget is derived from an estimate given by Postcard Builder.

PROJECT NAME: Standard Postcard Mailing

Specifications Quantity Each Total

POSTCARD Size: 4.25 x 5.5 Color: 4/4 Process; full bleed Stock: 12pt Stock, UV

Coated Front

Postage: First Class

Included

9,750 $0.37 $3,607.50

Total $3,607.50

Since there will be 3 waves of direct mail, the total will be multiplied by 3 bringing the total for direct mail to $10,825

Budget for Band Banners:

The cost for each banner is going to cost $52.50 multiplied by 4 bands is equal to $210

Source: Onedaybanner.com

Budget for Internet Domain Name:

The Budget for registering the Internet domain name for the Wells Fargo Super Pass Combo website is going to be $10/year.

Source: godaddy.com

Budget for Fliers:

The Cost in order to print 10,000 fliers in color is $700. There is more money left in the budget in case more fliers need to be printed.

Source: ColorPrintingWholesale.com

Hole-Punch Budget:

Each Wells Fargo Location in the areas which will give out vouchers heavily will need four different hole-punches in order to punch a different

shaped hole into the voucher indicating which of the four areas the Student or Faculty member’s school is located. The hole-punches each cost

$7.

$7x 4=$28 per Wells Fargo Location

For the Denver region there are 25 locations: 28 x 25 = $700

For the Boulder region there are 13 locations: 28 x 13 = $365

For the Fort Collins Region there are 6 locations: 28 x 6 = $170

For the Greeley Region there are 13 locations: 28 x 13 = $365 Total $1,605

Source: CroppingCorner.com

Agency Fee:

Our agency fee is derived from taking the overall budget and multiplying it by approximately 15% which gives an agency fee of $8,400

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