ameritrade last market hour

Category: Entertainment

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Case Study #2:Ameritrade Last Market Hour : 

Case Study #2:Ameritrade Last Market Hour Iman Fawaz – LeenaKaziz – YaraAlNisani – NourhanAli – Fatima Suwaidi – Ghazal Tawil

CompanyBackground : 

CompanyBackground Ameritrade is an online broker services equity that develops financial products and services for individual investors. Target Audience: Males active stock traders aged 25 – 55. These actives traders are already customers of competing online brokers and tend to place numbers of trades. Active traders are more willing to take risks, and more likely to trade even during downturns in the market. Thus, providing the greatest opportunity for Ameritrade to profit.

Challenges : 

Challenges 1) To deliver effective acquisition of customers in a marketplace that is rising from a downturn; shifting from “bearish to bullish”. 2) To differentiate from all online brokerages that were growing at the time and offering similar discounts, products, & services. 3) To build customer loyalty with an audience that has multiple accounts with other brokerages.

Marketing Strategy : 

Marketing Strategy Final hour of trading day: is when sudden changes occur in the markets. Therefore, creating big opportunities for traders. At this time, traders need tools to make fast informed decisions. Strategy: Ameritrade positioned itself as the “owner of the last hour” by offering effective tools to meet traders needs.

Marketing Tactics : 

Marketing Tactics Tactic 1: Used various media channels including (online, OOH, TV, and PR) to create awareness and buzz which would take Ameritrade to the next level. Ameritrade tactics included ownership of financial media properties on both online and television during the last hour, allowing to convey their message at the most relevant timeand medium. Example: They had partnerships with yahoo finance and CBS Marketwatch, to keep customers updated with the latest financial news.

Marketing Tactics … (continued) : 

Marketing Tactics … (continued) Tactic 2: Promoting special offers during the final trading hour such as giving away PalmOne phone when signing up for an Ameritrade account, to attract customers to work with Ameritrade.

Creative Strategy : 

Creative Strategy The creative strategy was composed of getting active traders to think about what they can achieveduring the last market hour. It was done by emphasizing value and loyalty, and offering real-time tools and relevant accurate information for traders. The free PalmOne phone acted as a strong creative incentive to get traders to sign up with Ameritrade during the last trade hour.

Results : 

Results The campaign generated over 50% more account openings that Ameritrade originally projected. Ameritrade became at top-of-mind in the life of the active traders. Awareness of Ameritrade increased by 54% against its core target (those who carry out 10 or more transactions). Ameritrade experienced a significant 30% raise in brand favorability.

Keys To Success : 

Keys To Success Planning the campaign carefully helped them stay on track and up-to-date with latest emerging technologies and the customers needs. Attracting outside investorsand trying to persuade them by describing key concepts of their services helped give a great boost to the companies number of brokers. Developing a strategic planafter determining the companies strengths and weaknesses allowed Ameritrade to focus on developing its services and find out the opportunities available for it in the market Using a multichannel direct marketing plan allowed them to determine the right investment strategies for the given target audience and outline measurable goals which will help Ameritrade to stand out between the competition

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