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Persuasive business message development

At ABC Bank, we aim for excellence in all our activities, but to do that, we take your respected feedback seriously. In reality, several times your input and guidance have helped companies to understand where to steer program and service changes. In the same way, ABC aims to provide a new service for small enterprises, providing community banking services through our network of branches in Alabama's towns and villages. Innovation, called ABC Connect, connects personal and company banking to a convenient solution that helps businesses meet all their financial needs. We understand what it is like to run your own business, to be the CEO and everyone in between. We also know why it is essential to have your corporate and personal life blended. So, if you are spending a significant amount of your time on growing your company or finding own time, take a look at ABC Connect. With ABC Connect, it begins with banking, but it does not end with it.

In Alabama, over 90 percent of the businesses are small-sized employing about 49 percent of the workforce (Alabama Small Business Profile, 2012). Being such a huge part of Alabama’s economy, these enterprises are central to the state’s as well as the nation’s wellbeing. Moreover, research conducted by the company indicates that most of our clients prefer banking solutions that are easily accessible and that can allow them to business and personal requirements combined. ABC Connect will be a great saver considering the fact it is specially designed for business owners with an annual turnover of about $ 1 million and borrowing needs of $ 110,000. Also, Alabama will be the first state to launch the ABC Connect, and this will help support our vision of increasing the range services offered to the local community.

Scope of the Program

ABC Connect is a new service that will give business owners greater control over their personal and corporate life. To that end, the service provides clarity, saves time and helps you get ahead. ABC Connect will save time by connecting businesses to services and support needed to run the operations. In this regard, the service provides one contact to address all requests, explanations, and advice. In addition to that, you will be able to make payments, transfers and view balances from the comfort of your business or home using the online banking. The service also caters for those who are always moving with our mobile app which allows many operations including money transfers, payment services, balance inquiries, to name but a few.

Secondly, the services will give you access to business advice, funding, and great opportunities to help you get ahead. Moreover, there will be a broad range of lending opportunities to meet your needs and expert solutions to move small businesses to the next level. The service also introduces simple payment options namely debit cards and business credit that provide easy payment capabilities both locally and abroad while giving the user access to our loyalty rewards program. Lastly, ABC Connect will help banks manage personal and business finances with greater insight and serve as a means to keep track of operations.

What’s more, ABC Bank will become a key player in America’s development efforts and may ultimately emerge as the authentic government financial institution by adopting the proposed service. The company will achieve this goal through the following financial plans. The organization registered losses of $7 million for the period between January and June 2017, and this is projected to reach $15 million by the end of this year.

The new service introduces new opportunities to reverse the situation and attain a favorable income position by December 2017. In fact, preliminary results show that by early November, the bank will have reduced its losses to $2 million. By January 2018, the company expects to have generated a net profit of about $4 million. To that end, we have made an effort to maximize ABC’s revenues from lending operations by encouraging our customers to utilize the restricted part of their credit lines and imposing suitable interests for loan transactions. Coupled with the profit generation initiatives, ABC Connect introduces cost-cutting measures to reduce the expenses on security and litigation.

Turnaround Strategy

If the service does not initially sell as expected, we will redefine the value, troubleshoot the issue and introduce favorable discount plans. To begin with, we will differentiate the value aspect of the service from our competition. Because people tend to buy services that have more value than their regular rates, we will communicate with clarity the specific positive impact associated with ABC Connect. We will also troubleshoot the issue to identify the gap in the product. There could be multiple reasons for the reduced sales, and the following questions will be pivotal in determining such matters. Is the service in low demand? Is the competition high? Do we have the correct talent on the team? Are we employing the proper marketing strategy? Updating the business plan to answer these questions will help the business to reach the cause of its reduced sales and low profits.

Further, we will attempt to package together the service with one or more our other products and then discount the bouquets slightly. The fact that the strategy will help the customer save more money purchasing the package than singly buying the services will likely boost the frequency of sales from existing clients.

Marketing Channels

Our market analysis shows that the current advertising media should be reprioritized accommodate the proposed changes. Results from surveys and focus groups show that we need to update our existing advertising efforts to align with trends of the youth because they constitute the majority of small business owners. First, ABC needs to intensify its internet campaigns. This step is critical because, over the decade, young adults have been consistently one group most likely to go online ("Teen Internet Use Graphic," 2017). Shifting from other media such as print and radio to popular internet websites such as Facebook, Google, iTunes, and eBay will promote our product sales. As cultural icons go digital, so must our advertising plans. Also, by refocusing our marketing efforts on reality television shows such as the American Idol and America’s Next Top Model, we will maximize the exposure of our services to the target market.

Cultural and Multinational Implications

There are various cultural implications associated with ABC Connect. The product will bridge the gap between cross-cultural people by providing a channel where they can share their views and business ideas. An app will also be developed to create a social platform to encourage the connection among small business owners and allow them to share feeds related to banking. In the first five years, the program will play a key role in transforming the state as well as the nation from a region with many unproductive youths to one providing a valuable structured initiative for their empowerment. The impact will be significant considering that the average unemployment rate for the youth across the globe falls between 20 and 30 percent (Cole, 2015). The arrival of many young adults on the job market requires not only the US but also in other countries to create many new jobs if this number is to be accommodated. Well, ABC Connect provides many young entrepreneurs with the necessary means to start and grow their businesses.

Therefore, we are requesting $ 1.5 million from the development funds kit to support the program that makes a significant difference in the lives of our youth. A contribution from you will provide us with the jumpstart we need as we continue to implement our developed fundraising plan. We believe that the ABC Connect is consistent with the company’s mission and interest of helping businesses to prosper, economies to thrive and people to achieve their ambitions, and we hope that you will find it in your budget to support the program.

As a final point, we appreciate ABC Company taking an interest and the opportunity to help our young adults develop their careers through our new service. Indeed, ABC Connect is the next big thing in business. Imagine a banking solution that gives small businesses owners greater control over their corporate and personal life, greater clarity, and saves time. What could be better than that?

References

Alabama Small Business Profile. (2012). Alabama. Retrieved from https://www.sba.gov/sites/default/files/al11_0.pdf

Cole, J. (2015). The new Arabs: how the millennial generation is changing the Middle East. Simon and Schuster.

Teen Internet Use Graphic. (2017). Pew Research Center. Retrieved 10 October 2017, from http://www.pewresearch.org/millennials/teen-internet-use-graphic/

August 09, 2021

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