2. Sections
1/21/20162
1. Trends
2. Mind Set
3. Executive Summary
4. Market Development
5. Target Market Partners
6. Actions/ Next Steps
Appendix (separate doc)
Strategic View
Competitive Landscape
Down The Road – Future Ideas
General Market Insights
HNWI Insights
Foreign Real Estate Purchasing
Insights
Bank / Remittance Fees
Example Partner PowerPoint
Marketing - Other
3. Target Markets:
Global Currency Mobility
Easier Transactions Via Technology
Digitally Active Consumers Move Away From Banks
Market Volatility Drives Property/ Physical Asset Investments
US Baby Boomers Moving To Cheaper, Warmer Climates
Growth Of The Experience Economy
Countries Grapple With Bitcoin/ New Digital Currencies
More People Globally Are More Affluent & More Mobile
Target Partners:
Monetizing Digital Assets
Targeted Lifestyles & Interests
Industry Associations & Vertical Reach
More Data, More Drive To Personalize, Aspirations To Loyalty
1/21/20163
Trends Driving Market
4. FX/ Global Payments = Fragmented Market:
From Remittance Players To Big Banks
Value Proposition = Price Driven
Brand Definition = Weak On A Global Level
Lacking True Industry Leadership For FX/MSB Players
Continued Regulations & Rules Based On Current Global Events
Competition:
Biggest Competitor:
Status Quo – Whatever They Do Today
Western Union High Brand Recognition
Loyalty To Consumer Banks Is Weak To Non-Existent
Brand Definition For FX/Global Payments: Weak / Unclear
Technology Driven New Players In Market, Long Term Differentiation?
1/21/20164
Trends Driving Market
5. Relative Target Markets:
Digital active consumers are moving away from banks.
Ten FinTech services that include P2P platforms for investments; equity or
rewards crowdfunding, online savings advice and investments, online financial
planning; online stock broking or spread betting; online ForEx; overseas
remittances; non-bank money transfers and borrowing using P2P platforms.
Out of all products surveyed in market, payment services had the highest
adoption rate (17.6%) including use of non-bank providers to make online
payments, online foreign exchange and overseas remittances.
2016 promises to be a time of acceleration disruption in the cross-boarder
remittance market as emerging players reduce costs and increase speed.
Havoc in digital wallet space in 2016 with clear path to separate leaders from
laggards.
Digital wealth management will truly go global, touching new geographies
and expanding in in places it has already been picked up.
1/21/20165
Trends Driving Market
Sources: FinTech Research Findings In Newsletter Dec 15, 2015 – Trends For 2016 & Top 10 Trends Financial Services Aite Study Jan 2016
6. 1/21/20166
Convergence Underway
Growth HNW
Social Media
Integration
Currency Fluidity
Global Instability
Bank Loyalty Decreasing
Global Mobility Growing
US/UK Citizens
New Currencies
Aging Baby Boomers
+Increase Demand
For Services
- Increased
Competition
8. “Better revenue quality and
growth, derived from better use
of marketing capabilities,
customer education and
qualification is often the sole
explanation between average and
superior profit performance.”
Manage For Profit Not For Market Share
Harvard Business School, Simon, Bilstein & Luby
1/21/20168
A Thought Before We Explore
Market Development
9. 1/21/20169
A Thought Before We Explore
Market Development Model
Push Me – Pull You
International
Markets
Domestic
Markets
Partner
Marketing Direct
Marketing
Tech/Web
Social Media
Marketing
One to One
Event
Marketing
Call To
Action
Call To
Action
10. 1/21/201610
A Thought Before We Explore
Brand Position & Communications
Moth To A Flame
The
Right
Market
Message
Via The
Right
Partners
Attracts
The Right
Customer
Ready To
Buy
13. Target Partners
• Forum For Expatriate
Management
• VRMA Vacation Rentals
Management Association
• Mortgage Bankers
Association
• American Citizens Abroad
• InterNations Connecting
Expats
• American Immigration
Lawyers Association
• AARP
• National Auctioneers Assoc.
• Association of the American
Foreign Service Worldwide
• American Chamber of
Commerce France
• American Chamber of
Commerce UK
• American Chamber of
Commerce Netherlands
• American Chamber of
Commerce Germany
• American Chamber of
Commerce Canada
• Association of Relocation
Professionals
• Workforce Mobility
Association
• International Association Of
Universities
• American Association of
University Administrators
• International Association of
Education Administrators
• National Association of
College and University
Business Officers
1/21/201613
Marketing Development 2016
FY 2016 Goals FY 2017 Goals
Gross Revenue
70 Million GBP
Gross Revenue
135 Million GBP
Net Revenue
1.2 Million GPB
Net Revenue
1.9 Million GPB
800 New Clients 1,900 Clients
20 New Partners 50 Partners
Business Objectives
1. Successfully Launch Into U.S. Consumer Market
2. 1st 6 Months Generate 200+ New Transactions A Week
3. Add 10+ New Partners By End of Q2
4. Break even on start up costs by Q1 2017
Target US, UK & Other Country Consumers
• Expatriates
• High Net Worth Individuals
• Lifestyle Purchasing Overseas
US Target Markets Global Markets
• Washington DC Area
• NYC
• Chicago
• San Francisco
• Houston
• UK
• France
• Germany
• Spain
• South America
Target Transaction Streams
•Property Purchases
On -Going Home Services
Vacation Rental Property Mgmt.
•Upscale Lifestyle Purchasing
Travel * Equestrian
Yachts
Private Jet
Collectors/ Cars
Medical Tourism
•Investment Managers
•Higher Education
Tuition/ Expenses
Executive Education
•Expatriates Living Expenses
•Immigration Legal Costs
•Charities/ Missions
•Business Brokers
New Customer Acquisition Pools
• Backlog Of Requests (past 6 months)
• Via Partners aka CNN
• Via Web/SEO Efforts
• Campaigns (3 month long)
• Cross Selling Tempus/ Moneycorp
Competition
FX
• Status Quo
• AFEX
• Currencies Direct
• US Forex
• HIFX
• World First
International Payments
• Banks
• Western Union
• PayPal
• AMEX
• Credit Cards
Total Market = $12+ trillion/ 100+ million consumers
Relevant Market = $10 billion/ 2+ million consumers
Media – Strategic Relationships
Today
• CNN Money
• The Telegraph
• Daily Mail
Future
• Bloomberg
• Global Living
• Robb Report
• Yachts International
• Architectural Digest
• Unique Homes
• Financial Times
• WSJ Real Estate
• Bravo
Million Dollar Listing NYC
Million Dollar Listing LA
• HGTV House Hunters International
• National Geographic/Discover
14. Paths To Market
How We Grow!
1/21/201614
Targeted Marketing Industry Partners Affiliate Partners
• Media Partners
Existing
Future
• Social Media/ You Tube
• Consumer Website
• PR/ Promotions
• Flyers/Sales Materials
• Events/ Conferences
• Build Body Of Knowledge
White Papers
Seminars
Articles
Webinars
Blogs
Subject Matter Experts
• 3 Month Campaigns
Seasonal Themed
Mailers/ Post Cards
Email Marketing
Google Ads
Facebook Ads
Tele-marketing Tie In
• Industry Associations
National
Regional
State Chapters
• Media Partners
Web
Print
Social Media
• Chambers
• Ethnic/Country Groups
(i.e. German American Society)
• Charity / Mission Groups
• NGOs
• Attend Events/Conferences
• Offer Up Web Content
• Provide Web Banners/Buttons
• Real Estate Companies
National
Regional
Individual Brokers/ Agents
• Mortgage Companies
• Financial Planners
• Expat/ Relocation Companies
• Immigration Attorneys
• Business Brokers
• International Property
Management
• Upscale Travel
• Retirement Development
• Up Scale Brands
Automobiles
Yachts
Private Jets
• Higher Education
4 Year Degrees
Certificate Programs
Masters
16. Pre-Registration Activity – Underway
- US Moneycorp Team gathering leads to contact once live
Pre-Launch: Early March
- Internal awareness campaign: Tempus and Moneycorp (US and UK)
- Set Tempus team expectation: Early April availability
Soft launch: March 14th
- Reach out interested leads gathered to-date
- Turn on CNN Money and other partners
Hard Launch: End Of March
- Begin larger push into the market including PR/Social
Media/Campaign 1, etc.
1/21/201616
High Level Marketing Milestones
17. Actions/ Next Steps
1/21/201617
Immediate
Gather input / feedback on the
plan and direction
Create a tactical project plan
on the needed sales materials
Select Support Agency
Work with support agency on
creative brief, direction and
cost estimates (build budget
and tactical project plan)
Launch internal ASAP
Support soft launch, learn,
adjust and move forward
Short Term (45 days)
Work on press release
Once consumer site is live
aggressive reach out to target
priority partners
Placement of ads/
banner/buttons and content
for digital advertising
Finalize market development
plans – adjust as efforts roll out
in market
Support hard launch into
market.
Testing selling message/
positioning and offering in
market
19. 1/21/201619
Finding The Perfect Customer
Lifestyles
• Personal Interests?
• Travel / Experiences?
• Multiple Properties?
• Retired?
• Business Owners?
• Luxury Goods?
• Equestrian?
• Charities?
Geography
• US Citizens?
• UK Citizens?
• Expats?
• Europe?
• Asia?
• Americas?
• Commonwealth?
• South America?
High Net Worth
•$2 Million or Greater?
•Self Made?
• Inherited?
•Fortune 1,000?
•Male/ Female?
?
Relevant Market
Expatriates
Relevant Market
UHNW/HNW
20. 1/21/201620
Finding The Perfect Customer
Lifestyles
209,000 US homes sold to foreign buyers in
2014
Foreign sales dollar est US$104 billion 2014
US$22 trillion already using tech in daily
financial lives (HNW/ Affluent)
20% of US citizens have second
home.
800k+ international students
in US 2013
Geography
375,000 US citizens retired
abroad 2013
US Expatriates spend $20k to $50k
a year
International Payments 2013
US$2.7 trillion
UK clicks 7k per day on US
locations to retire
High Net Worth
Market Size
231,000 UHNW (net worth
over US$30 million 2015)
The Global 1% Club = US$70
trillion 2015.
US HNW US$16.2 trillion
2,325+ Billionaires Globally
$10
Billion
Relevant Market
US Citizens Abroad
Relevant Market
Non-US Residents
Total Market Size: Over $12 Trillion Globally
21. Target US Consumer Markets
12 to 18 Months
1/21/201621
US Citizens
• High Net Worth + Ultra High Net Worth
• Expatriates living overseas
Currently living abroad
Exploring living abroad
Looking to move back to US
• Buying vacation home/ 2nd home overseas
• Sending kids to foreign universities
• Buying a business overseas
• Overseas Lifestyle / Experiences
• Buy Luxury (travel, buy car, yacht purchase,
equestrian etc.)
• Utilize Private Jet (own/lease/rent)
• Initial payment plus trailing ongoing
transactions tied to property
• Medical Tourism
• Charities/ Missions
British & European Citizens
• Expatriates living overseas (US)
Currently living abroad
Exploring living abroad
Looking to move back to US
• Buying vacation home/ 2nd home overseas
• Initial payment plus trailing ongoing
transactions tied to property
• Sending kids to foreign universities
• Buying a business US
• Overseas Lifestyle buy (travel, buy car, yacht
purchase, etc.)
• Utilize Private Jet (own/lease/rent)
• Initial payment plus trailing ongoing
transactions tied to property
• Medical Tourism
• Charities/ Missions
Future (18 Months Plus)
• Asian Markets
• South & Central American Markets
• Other TBD
22. Tactical Market Support Materials
1/21/201622
Understand Agency Utilizing
• Creative Brief
• Cost Estimates / Budget Development
• First Six Months Project Plan
• Media Buy Plan
Press Release On Launch
Press Releases Every Other Month
Partner Press Releases
Blog / Posting Content First Six Months
Social Media Plan/ Content Strategy
White Papers:
• Targeting Real Estate Partners
• Targeting US Consumers Thinking About
Overseas Property
• Targeting UK Expatriates Moving To USA
Follow Up eNewsletter (2)
• US Consumer
• UK/ Other Consumers
Updated Sales Flyer:
• US Consumers – Property
• US Consumer – General
• US Partner Development
PowerPoint
• Partner Version
• General Market
Training Programs And Webinars
• Targeting Real Estate / Mortgage Brokers on
International Potential: US and Globally
• Vacation Property Management
• Targeting Expatriate/ Workforce Mobility
Organizations
• Attending University Abroad/ Semester Overseas
Trade Show Plan / Campaign (Pre/Post Event)
Develop 3 month seasonal campaign –
targeting US consumers looking to move “to
warmer climates”
23. Level One
Existing Demand/ Leads
1/21/201623
Recent Requests
Past 60 to 90 Days
Florida Team
CNN Media Partner
Backlog: All Others
Partners
FL Bridge Out To National
New Targeted Growth Groups
Backlog: All Others
Launch Market
Development Efforts
March to May 2016
24. 1/21/201624
Focus 2016
• High Net Worth Individuals
• Home Base In:
Prime Focus
New York City NY
Washington DC Area
Chicago IL
LA/ Southern CA
SFO / Northern CA
Secondary Focus
Seattle WA
Dallas & Houston TX
• New Partners Touching
Target Markets
+
• High Net Worth Individuals
• Home Base In:
Prime Focus
London UK
UK Citizens Anywhere In World
Europe
Asia
South & Central America
Other TBD
• Existing Partners Touching
Target Markets
Level Two
June & Beyond 2016
The World
25. 1/21/201625
Focus 2016Level Two
June & Beyond 2016
US Expatriates US Retires High Net Worth
Top Job Searched Countries
• Canada
• Mexico
• Australia
• India
• China
• Japan
• Italy
• Germany
• France
• Spain
Top Places Abroad
• Argentina
• Belize
• Costa Rica
• France
• Italy
• Mexico
• Nicaragua
• Panama
• Portugal
• Spain
• Thailand
• Malaysia
• Colombia
Millionaire Density US
• San Francisco
• New York City
• Chicago
• Los Angels
• Houston
• Dallas
• Atlanta
• Washington DC Region
• Seattle
Top Three Cities
London
Singapore
Geneva
US Outward Bound
26. 1/21/201626
Focus 2016Level Two
June & Beyond 2016
US Expatriates US Retires Demographics
Top Overseas Activities
• Moving/ Relocation
• Job/Career Development
• Home Purchase/ Rental
• On-Going Living Expenses
• Investments
(US/International)
• Medical Care
• Vehicle/ Transportation
• Higher Education
• Family Activities
• Immigration Services
• Travel (Home + Pleasure)
• Club & Membership Fees
Top Overseas Activities
• Moving /Relocation
• Home Purchase/ Rental
• On-Going Living Expenses
• Investments
(US/International)
• Medical Care
• Vehicle/ Transportation
• Family Activities
• Immigration Services
• Travel (Back To US and In
country)
• Club & Membership Fees
US Consumer Target
• 30 to 70 yrs. old
• 50/50 Men/Women
• Married With Kids
• Degreed BA/MA
• Active In Charities
• Self Made
• Net Worth US$2 million +
• Owns Business or C-Suite
• Travels Globally
• Owns Primary Home
• Comfortable With Tech
• Interest In International
Properties
• Hobbies/Collector
US Outward Bound
27. 1/21/201627
Focus 2016Level Two
June & Beyond 2016
UK & Other Expatriates International Buyers High Net Worth
Top US City Searched
• New York City, NY
• Los Angeles, CA
• Miami, FL
• Orlando, FL
• Las Vegas, NV
• Houston, TX
• San Francisco, CA
• Chicago, IL
• San Diego, CA
• Fort Lauderdale, FL
• Phoenix, AZ
Top Places Looking At U.S.
• Canada
• United Kingdom
• Australia
• Germany
• Brazil
• Mexico
• France
• India
• Italy
• Netherlands
Millionaire Density Global
• Geneva
• Zurich
• Singapore
• London
• Hong Kong
• Frankfurt
• Munich
• Toronto
• Sydney
• Taipei
• Hamburg
• Paris
• Tokyo
• Mexico City
UK & Other Outward Bound
• Rome
• Beijing
• Osaka
• Sao Paulo
• Shanghai
• Moscow
• Mumbai
28. 1/21/201628
Focus 2016Level Two
June & Beyond 2016
UK/Other Expatriates UK/Other Retires Demographics
Top Overseas Activities
• Moving/ Relocation
• Job/Career Development
• Home Purchase/ Rental
• On-Going Living Expenses
• Investments
(US/International)
• Medical Care
• Vehicle/ Transportation
• Higher Education
• Family Activities
• Immigration Services
• Travel (Home + Pleasure)
• Club & Membership Fees
Top Overseas Activities
• Moving /Relocation
• Home Purchase/ Rental
• On-Going Living Expenses
• Investments
(US/International)
• Medical Care
• Vehicle/ Transportation
• Family Activities
• Immigration Services
• Travel (Back To US and In
country)
• Club & Membership Fees
UK + Consumer Target
• 30 to 60 yrs. old
• 80/20 Men/Women
• Married With Kids
• Degreed BA/MA
• Active In Charities
• Self Made or Inheritance
• Net Worth US$1 million +
• Owns Business or C-Suite
• Travels Globally
• Owns Primary Home
• Comfortable With Tech
• Interest In International
Properties
• Hobbies/Collector
UK & Other Outward Bound
29. Where Customers Will Come From
1/21/201629
1. Completely new customers from the
Moneycorp US website.
2. Completely new customers from partners
(i.e. realtors, CNN, associations, chambers, etc.)
3. Completely new customers via direct
marketing efforts, exhibits, promotions,
seasonal marketing, advertising , etc.
4. Existing Tempus B2B clients looking for
consumer purchasing options.
5. Existing Moneycorp Florida clients looking for
consumer purchasing options in other states.
6. Existing Moneycorp international clients
looking for US consumer purchasing options in
US beyond the initial property purchase.
7. New Moneycorp international clients looking
for US consumer purchasing options in the US.
8. New Tempus B2B clients looking for
consumer purchasing options.
9. Completely new customers or existing
Moneycorp customers who currently have
funds in a US bank, but who are living abroad.
Customer Streams
How Do We Identify A Tempus “Powered By” US Customer?
The US Consumer Client Has A US Address.
At this point, beyond Florida they are a
Tempus “powered by” program account (no
matter if a US Citizen or a Foreign Citizen)
30. 1/21/201630
Sales Development Funnel
Raw Leads
Email addresses
Trade Show Leads
Purchased ListsDirectories
Existing ListsTarget 20,000 to 50,000 a month
Qualification &
Sales Interactions
Calls In To Talk With Sales
Sets Up Account Online
Responds To Follows Up Emails
Serious
Opportunity
Account Is Set Up & Ready To Trade
Does A Deal/ Trade
New Accounts
General Interest in FX/ Global Payment
Direct Mail Campaigns
* Per Month Target 75 to 100
Timeline
15 Days to 1 Month
Sales Cycle
Social Media
CNN Leads
Moneycorp.com Leads
Partner Leads
* Note: There will be accounts that
open but do not transact,
requiring some level TBD of total
to active.
31. 1. The past / current US based Moneycorp Inc. business focused on UK
expats buying homes and living in Florida / other states is a good indicator
of potential volumes/ support efforts.
2. That the systems and platform will continue to evolve based on the US
consumers and will become intuitive, easy and does what in needs to
open accounts and process trades, 24x7.
3. That the CNN relationship and other partner relationships will become
active and drive the type of interest and potential customers.
4. That the global political, financial and pan epidemic threats will stay at
current levels but not convert into a planet wide melt down causing
people no matter where they live in the world to retreat.
5. Current trends in wealth acquisition and growth, global property
purchasing and the shifting of retirees from colder climates to warmer
ones continues.
6. Fluidity of commerce, tech and currencies in the international markets will
continue to grow.
1/21/201631
Sales Assumptions
The greatest threat to sales is simply this, that the status quo is perceived
better/ easier/ reasonable cost vs. whatever we are bringing to the game!
32. 1/21/201632
Sales Goals
2016 Goals
20 New Partners
800+ New US
Transacting Accounts
70 million GBP Gross
Revenue
1.2 million GBP Net
Revenue
Successful
Soft & Hard Launch
By April 5th
Brining On 1 to 2 New
Partners A Month and Get
Them Generating Leads
Within 30 Days
70 + New Accounts Per Month
Improve The Ratio Of Interested
Consumers To Accounts Opened and
Transacting Sooner
Make It Easier To Set Up Account and
Transact In Automated Approach
(Remove Obstacles To Account Set Up & Right Documents, etc.)
The target consumers perceived better/ easier/ reasonable cost of the
“powered by” program vs. whatever the status quo represents.
Top line gross revenue stream of
6 million GBP a month flowing
into the accounts
35. Moneycorp Partners Today
1/21/201635
Industry Partners
British American Chamber of Commerce
French American Chamber of Commerce
Women’s Council of Realtors
Brazilian American Chamber
Orlando Regional Realtor Association
Miami Real Estate Association
Sarasota Manatee County Association of Realtors
Asian Real Estate Association of America
National Association of Realtors
Florida Realtor conference and expo
American Immigration Lawyers Association
Leading Real Estate Companies of the World Expo
Media Partners
CNN Money
The Telegraph
Daily Mail
Direct Contact Partners
Builders/Developers
- Park Square Homes
- Pulte
- DR Horton
- Beazer
- Royal Oak Homes
- The Encore Club
Real Estate Brokers/ Agents
- Keller Williams
- Coldwell Banker
- Century 21
- Berkshire Hathaway
- Fortune
- Exit Realty
- Michael Saunders
36. Media Industry Affiliate
Bloomberg
International Living
Robb Report
Yachts International
Architectural Digest
Unique Homes
Financial Times
WSJ Real Estate
Media Web
BankRate
Bravo
- Million Dollar Listing NYC
- Million Dollar Listing LA
HGTV House Hunters International
National Geographic/Discover
Smithsonian
Top Gear BBC America
Forum For Expatriate Management
VRMA Vacation Rentals Management Association
International Real Estate Society
IREM Institute of Real Estate Management
Mortgage Bankers Association
American Citizens Abroad
InterNations Connecting Expats
American Immigration Lawyers Association
AARP
The American Hour – US Citizens In UK
Association of the American Foreign Service Worldwide
American Chamber of Commerce France
American Chamber of Commerce UK
American Chamber of Commerce Netherlands
American Chamber of Commerce Germany
American Chamber of Commerce Canada
Amsterdam American Business Club
SHRM Society of Human Resources International
Association of Relocation Professionals
Workforce Mobility Association
German American Society
Education Partners
London Business School
Cambridge University
Oxford University
McGill University
University of Edinburgh
International Studies Abroad Association
International Association Of Universities
European Association for Internal Educations
National Association of College & University Business Officers
Wealth Managers
- Edward Jones
Global Mobility Providers
- Expatriate Management Services Ltd
- Cartus
- Altar Global
Builders/Developers/Communities
- Park Square Homes
- The Encore Club
- Retirement Communities
- KEI Homes Spain
- Algarve Senior Living Portugal
Real Estate Brokers/ Agents
- Sotheby’s
- Coldwell Banker
- Century 21
- Berkshire Hathaway
Auto Manufactures
- Mercedes Benz, Audi, Volvo, Tesla
Wealth Advisors/ Management Firms
Transportation
- Net Jets
Upscale Travel
- Abercrombie & Kent
- Disney Dreams Unlimited Travel
Adventures
- Zicasso
- Viking River Cruises
Top 25 Global Executive Education Programs
“Powered By” Partners Future
US Consumer Targets
1/21/201636
37. Becoming Industry Thought Leaders
Q1/Q2 Develop & Launch
1/21/201637
http://www.realtor.org/designations-and-certifications/cips
Over 2,000 Realtors in US/Globe
Focused on International Buyers
Integrate “payments and international
currencies” into program
PowerPoint
White Paper
Flyer to use with end customers
Support earning CEUs
Provide content for website/ blogs/
newsletters
http://www.vrma.com/educationandevents
Over 4,000 members in 20 plus countries
Work with VRMA to develop a “certification
program” for VRMA members.
Include “payments and international
currencies” as a part of the curriculum.
Work at getting VRMA as a partner.
Create a webinar with VRMA on
international vacation property owners,
include payments and currency
conversation.
Work to include payments in the VRMA
consumer booking site:
http://www.discovervacationhomes.com/
38. Becoming Industry Thought Leaders
Q2/Q3 Develop & Launch
1/21/201638
http://www.state.gov/s/cpr/rls/dpl/32122.htm
Embassy staff in the US and US embassy
staff overseas
In Washington DC over 177 Embassies of
other nations, plus the World Bank, IMF,
Peace Corp, USAID, National Science
Foundation, WHO all with people and
transactions both into and out of the US
NYC = the United Nations
Develop a program that targets these
employees and their currency needs
crafting support materials to this market
segment.
http://www.studyoverseas.com/
http://international.collegeboard.org/study-around-the-world
Over 2,500 college and universities in the
USA with students that:
Have foreign students coming to the US to attend these schools
for 4 years
And US students looking at doing study abroad semester.
Develop a program that can be integrated into
the University bursars office/ tuition
payments.
Find associations, providers into this market
that we can team up with both in the US and
globally.
Start with universities in Washington DC to
develop program model to roll out.
Embassy & NGO
Program
39. 1/21/201639
Closing Thought
Lets dream of what this
program, market and
relationship can mean.
Lets purse the what is
not seen but needed.
What we do can unlock
the global dreams of
many consumers.
40. Actions/ Next Steps
1/21/201640
Immediate
Gather input / feedback on the
plan and direction
Create a tactical project plan
on the needed sales materials
Be introduced to support
agency via Moneycorp
Work with support agency on
creative brief, direction and
cost estimates (build budget
and tactical project plan)
Launch internal ASAP
Support soft launch, learn,
adjust and move forward
Short Term (45 days)
Work on press release
Once consumer site is live
aggressive reach out to target
priority partners
Placement of ads/
banner/buttons and content
for digital advertising
Finalize market development
plans – adjust as efforts roll out
in market
Support hard launch into
market.
Testing selling message/
positioning and offering in
market
Editor's Notes
Trends are just that – an indicator of something bigger, maybe unseen. Not a guarantee. The goal is to look at the highest level first and work down to the close in/ relative market trends. For me it seems that beyond the whole FX/Currency Conversion, remittance markets all the way to the credit card, debit card, prepaid markets their continues to be a focus by the industry providers on the “physical form of payment” cards, bank accounts, mobile devices. Mean while I think most people have moved on to less about the how via what payment form towards the want of a lifestyle and how can I get to that idealized state and experience. Payment needs to be easy, fast and secured. I am continually amazed at how much of the advertising in the consumer payment space is around the hardware “look I tap my iPhone to a POS terminal – wow!!!” Vs the fact that Starbucks has build a coffee currency club that payment is about ease and access to the coffee and SB community (points, deals, free stuff in every interaction). Someday in the near future, it will be about who you are, what your worth is and what it gives you access to; the technical side will be about facial recognition/ bio secure validation (finger print? Eye recognition? Embedded chip? Blood/DNA? and potential point to point payment/settlement with almost no steps in the transaction.
I really don’t see a clear competitor to what the target market and purchasing activity we are targeting. Banks, sure – but consumers have less love for banks. People, especially those with high net wealth look to specialized providers for services. Investments in one place, traditional banking in another, equity management in yet an other place. This doesn’t mean there is a desire for fluidity of funds and access to what the consumer wants, when and where they want it. The FX/Remittance/Global Currency market players have an identify issue and need to find the higher ground to grow from, vs $100 payments back to home. Yes there is a place for the unbanked and the multi country families sending funds home. Not that we shouldn’t have some level of transactions like this, but the focus should be a higher ground, a leadership position. Bigger things bought through multiple funding streams by the well to do of the planet – ease, speed and secure.
In 1994 I attended a conference where Bill Gates was talking. It was a conference on emerging tech (the WWW was still taking shape) and the banking world. At the headline seminar Bill Gates presented and talked. From his first statement and over the next 2 hours it turned into a fight between him and the room of about 500 bankers. He said “you are all dead and just don’t know it. Your model is based on real estate not improving the access to peoples funds and money – BOOM!” It seems technology is finally catching up to the reality that how people look at banks, transactions, payments are changing. This will impact the FX markets, global payments, etc. Shifts to P2P (person 2 person) payments, along with non-bank nor card based transactions are all in the mix. Change is the only constant.
Interesting point in the global history of our societies. While technology is allowing more conductivity, awareness, access and actual interaction; at the same time the shifting of country values to a global norm. This includes the wide range of religious, country and regional biases and political issues. As we become more and more one world in communications and conductivity the differences come to the forefront quickly. The divides on some level become both wider and more obvious, but so to the similarities and shared values. The next 10 years will see the advent of robotics on an everyday level, new forms of life via genetics, the shift in age/ gender and ethnicity of business leadership. All the while people, their funds and their interests will continue to move, explore and travel the world.
When looking at the approach and models to market development and growth it is good to have an understand how to think about the effort at the 60,000 foot level.
Over the years I have seen this proven time and time again. Better marketing attracts the type of clients you want, better customer education makes those targeted customers more active sooner. The qualification process starts with choosing where to focus your market development activities. Shot gunning vs laser; general vs niche. So picking the right images, words and content will drive the right customers, better customer tools and communication (like showing a picture of the right way to take a picture of a pass port – is key. The customer has a better chance of getting it right the first time and not becoming frustrated with having to do it over, and over and over again.) In addition, having an “opportunity lens” to view qualifications of customers and positioning by helps before we even enter a market.
The fact of having limited resources (we don’t have unlimited $$$ or time or people) we need to look at the target market in two ways. How do we pull the right target “perfect customers” into the program via our Media partnerships and/or direct marketing (social, web, direct mail) and reaching out to the target end user/consumer. Via our market partners (like a real estate person or a British Chamber or a US Expat service provider) we push our target audience into the program, we are where the transaction will happen and the partner puts us into the opportunity.
Finally as we develop the tactical side of any market development effort we need to make sure what we are saying matters to those we want, in the end building a self selection of the targeted end user. Demand is built within the target audience and the end user, driving them forward to our service. The positioning and the message need to clearly drive a call to action in our target client – see’s, hears, experiences the brand and the promise of that brand saying “yes that is what I want…” and moves towards the “powered by” program. I call this approach to the branding and promotions “moth to a flame” meaning if we do this correctly and all things are aligned the whole experience creates a self fulfilling result. More of the same, sooner success.
Everything we do in the market will have a long term cumulative impact. Every visit to the website, every market development effort, every partner we bring on will add to the total impact on the awareness of the brand, the value to our target markets and clients. All the market development efforts, no matter the brand, will be cumulative in nature and overtime grow the opportunities across all brands. Each gaining as the other reaches out.
The 60,000 miles up view of what we are doing in the market to develop it.
High Level view of the market development efforts. Why “Market Development” vs Marketing? Market development includes marketing, but it is also pulling in sales methods, strategy, bigger view vs marketing only and the classic Product, Price, Place and Promotion (and in recent times People is the current ad).
At a high level we will be finding targeted pathways and efforts to find our target customers and targeted transaction streams.
While there are a wide variety of activities, development, that will happen over the next 6, 12, 18 months this calendar is an attempt to show the blocking of marketing efforts and tactical actions until the end of the year 2016. The goal is to show that the approach is encompassing touch points that will focus the message, the targets but work via direct (social media/ ads) and indirect (partners) ways to gain not just awareness but also a call to action.
An easy view of the timing of things from a marketing view (less of a system or operational view). It is important at a point to bring both the Tempus team and the Moneycorp FL team up to speed on the program, the marketing efforts that will be happening over the short term, etc. Bringing the teams up to speed is the first steps on establishing the brand and the story we want to tell, next the close in and back logged opportunities and finally opening to the wider markets.
There are a few heroes in my life. Winston Churchill (if Kristy and I had a son we were going to name him Winston Clay), Walt Disney, Major General Leslie Groves who not only built the Pentagon, and the ALCAN highway but lead the creation of the A bomb and H bomb (not so much for the bomb but the project management skills to bring it all together from building two cities AND at one point seizing all the silver at the US Mint to build the first mass scale superconductors), Neil Armstrong, Alan Shepard and Chuck Yeager = the right stuff, Navy Rear Admiral Grace Hopper and Alan Turning for bringing modern computing into reality. The list of real people goes on, but there are a few “characters” that mean more than the image they are: like Mickey Mouse, or Winnie The Pooh. As a Dad reading the adventures of Pooh to my kids I came to see that Pooh has a determined way of life and adventure. That he offers insights into business, relationships and much more. As this quote shows, marketing and market development are really summed up as “you can’t wait for others to find you, you have to go to them sometimes…” and that is what the core of this plan is about. Not going to where anyone or everyone is, instead finding where they congregate and or those that have built businesses helping and supporting those we want to do business with. The call to action is at two levels – to those partners that work directly with our end user clients AND to the end users themselves.
Finding the customers we want to use the service is going to be about having an understanding of what they look like, where they live, what they do and what the want to be/experience in family, work and play. Yes, there are 9 billion people walking they earth, but what we want to do is reach, build awareness and drive a call to action in the much more reasonable view of our “Relative Market”
The overall market size is very large, in the $12 to $20 Trillion Range; but want matters is the relevant market size: those that fit our target transactions, our preferred customer demographics the number is more in the $8 to $15 billion range. I would estimate that this is a target of potentially 2 to 3 million consumers globally.
The greatest threat to sales is simply this, that the status quo is perceived better/easier/reasonable cost vs. whatever we are bringing to the game. The systems, the platform, the partners need to do work. The shift from development to market growth and transactions is important.
Sales for this business is simply a numbers game. There must be a constant flow of new leads, new accounts set up, new trades/ payment transactions. The better job we do with finding partners and bringing them on quickly and get them generating leads (more qualified the leads the better). Every obstacle to new clients not just setting up an account, but the more ready these new clients are to apply and be accepted is key (especially in the focus on more automated reviews etc. the right documents, data and account set up information is key). To hit the sales numbers the flow of leads, the conversion from lead to set up an account, and from account to transacting are going to be important to the end goal. Small things (like not sending in the correct image of the proof docs, etc.) are important to address, fix, make it easy to do the first time vs the 10th time.
One key approach to developing the market and reaching those we want to sign up is via affiliate partners, those that all ready touching the target markets and end users we want. This is a way to work with targeted groups that have deep reach vs wide. Getting these partners to show, promote and work with the “Powered By” brand and program will gain traction faster than trying to do a large scale, consumer marketing play (and less costly).
This is a starting list of target partners that we want to find ways to integrate what we offer into what they provide to readers, members and customers.
These efforts are not listed on the calendar. It is important to build into key industry groups, where influence through education, awareness building and developing relationships is key. These partner groups have a way to reach their members and gateway into a larger consumer pools that lead to actual accounts and transactions. Each quarter two to four new niches within the we will focus on two such “thought leader” groups (beyond the general partners/ affiliates) in an effort to integrate our brand and business into their members lives. The goal was to share that, while we have a list of potential partners, some warrant a bit more drill down and effort beyond just doing a “referral/ finders fee” approach.
Based on where some of the team is located, Washington DC, we need to take advantage of the target rich environment. Both foreign staff/ organizations, NGOs with foreign staffs and universities with both foreign students coming to the US and aggressive programs to send US students abroad.
I believe that every business, industry and team can use a bit of the Disney spirit and thinking. Yes we are launching a program and it is about being profitable – never confuse that. Yet if we can find the unseen to spark a new energy, a way to set what we do apart from the cold and unemotional world of currency trading and global payments into something more that the two brands (Tempus and Moneycorp) that 1 + 1 = 1,000 than lets try and bring that to life. In 1992 when sitting in an office worrying about processing paper gift checks (at that point $20 million a year and the market development efforts I put in place took us to $120 million is less than 6 months and the paper was killing us) I thought “what if we got ride of the paper, what if we gave the consumer the ability to pick what they want and we freed them form all the controls. The prepaid card and the industry that followed went from $200 million to $1 billion in less than 12 months – the industry now represents over $500 billion in payments. In the first meeting with the executives of MasterCard, Nations Bank (now BofA) and Maritz “if you all can squint your eyes just a bit you will see a future of possibilities that his on an unimaginable scale. The market we are in today is so ready for something new. So we start slowly, we see that what we do is solid, works and is profitable – then quickly scale up. Be the team that drives the convergence that is underway between currency trading, international payments and access to the things people dream of.