Bbva Case Study
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The BBVA case asks you to evaluate their online and offline marketing strategy in acquiring customers and making profits. Given that next year’s marketing budget will be the same as this year’s, or perhaps even less, it seems best to first study whether the current online and offline efforts are reasonable in reaching the company’s objectives, i.e., to conduct a performance comparison to see which media is more effective in acquiring and keeping customers, opening new accounts, having low cost per application, etc. Then you decide how to improve the effectiveness for offline and online, and within the online for search and banner ads. And finally you can determine whether to make adjustments in allocating resources.
Please provide your analyses and recommendations for the following questions.
What is your evaluation of the bank’s offline and online advertising effectiveness in acquiring checking account customers? Support your analyses and criteria. Is the budget allocation between them appropriate?
What are the steps BBVA can take in improving the online acquisition process?
Within online, what is the role, and your evaluation, of display and search advertising in acquiring new checking account customers? Is the budget appropriately allocated between the two? Furthermore, is the budget allocation appropriate across search engines? How about display ad networks?
It is easier to stick with unit at the individual level. For example, for costs, use acquisition cost per application. Note that you do not need to calculate any budget allocations. You are required to evaluate the performance of each media regarding customer acquisition, and then show whether the current allocations are good, or need adjustments.
Please refer to the syllabus regarding the requirements for individual assignments (500 words, and additional spreadsheets or exhibits).