In an effort to get savers and spenders to look at a bigger financial picture, Beneficial Bank is asking people “What would you do if you knew where your money was going?”
Beneficial is offering Intuit’s FinanceWorks free to all customers. The application provides online viewing and analysis of financial data from all (not just Beneficial) accounts. It’s similar to other online personal finance solutions like Mint, Wesabe and Jwaala.
FinanceWorks, powered by Quicken, helps consumers manage their information and accounts across more than 7,000 financial institutions and credit card sites, ensure bills are paid on time (regardless of the method they use to pay them), see where their money is going (including future transactions), and receive a variety of alerts about their financial status via e-mail.
Advertising emphasiszes how FinanceWorks can help you “Spot spending trends. Set budgets. Save more.” FinanceWorks tools let you analyze spending, set savings goals and create reminders for bills.
The campaign’s intended takeaway is that, in money matters, “knowledge is power.”
Beneficial timed the launch of new accounts at both Twitter and Facebook to coincide with the FinanceWorks campaign. The two initiatives represent the first use of social media by Beneficial.
Beneficial defines the campaign’s target audience as married, college-educated adults, age 35-44, who have high online usage and a household income of $100K+.
Ads will run in Philadelphia newspapers, on news and public radio stations, and on various online channels. You can listen to the radio spot by clicking here, or by clicking on the headphone icon (right).
A “Where’s My Money?” game booth will be appearing at jazz and rock music festivals throughout the summer. Players spin a wheel and answer trivia questions as they try to win a Dell Netbbook.
The campaign is the latest installment in Beneficial’s ongoing corporate positioning, “Starting Now,” (introduced last fall soon after the financial meltdown) in which the bank proclaims, “Every day is a chance to do the right thing financially.”
The campaign, including print, event, online and social media elements, were developed by Beneficial’s agency, LevLane.