Greenlight Financial Technology, Inc.

HANNAH AMAIRA

PURDUE UNIVERSITY
 “Smart
debit card Product/Service
for kids” Overview
 Greenlight Financial Technology, Inc., (GFT) was founded
by Tim Sheehan in 2014.

 In 2017, Sheehan launched the Greenlight debit card for

kids that parents can manage via their smartphones.

 Greenlight, in affiliation with Mastercard, functions as a

debit card, except it provides parents the ability to choose
specific stores or categories where kids can spend money.

 The account is linked to the parent’s bank account, and

funds are automatically deducted.

 Through their smartphones, parents can approve

transactions beforehand, add more money, disable/enable
usage of the card at any time, and receive immediate
notifications when the card is used.
Special Features and Benefits

Greenlight costs $4.99 per month, per family, and includes up to 5 cards. There are no additional or hidden fees.

Kids learn how to manage money and check balances before spending.

It enables customers to create saving goals, make ATM cash withdrawals, and designate funds for charitable donations.

Beyond just having a unique PIN, knowledge of where the card works is unknown without access to the app, and card can immediately be disabled.
 Audience Analysis
Target Audience
1. Parents with children, primarily ages 8-18 years old.
2. Youth, primarily ages 8-18 years old.

Profile of Target Audience

1. Working parents.
2. Children with smartphones.
3. Children who go out with their friends.
4. Possibly adolescents who work part-time and parents want to help them manage their money.

Demographics

 Not limited to income, gender, race, location, or family size.

Psychographics
 This campaign is focused on attracting parents who want to teach their kids how to manage their money
and be more responsible.
 Communication Plan
Goals, Strategies, Objectives, & Tactics
GOALS
1. I N C R E A S E A W A R E N E S S O F G R E E N L I G H T D E B I T C A R D O N A N A T I O N A L L E V E L B Y 4 TH
QUARTER 2019.

2. WITHIN ONE YEAR, MAKE GREENLIGHT THE LEADING DEBIT CARD FOR KIDS IN THE
INDUSTRY.

S T R AT E G I E S
1. UTILIZE SOCIAL MEDIA CHANNELS TO ADVERTISE THE NEW SERVICE TO PA RENTS AND
KIDS.

2. IN PARTNERSHIP WITH AMAZON, USE POP -UP ADS ON WEBSITE AND MOBILE APP.

3. IMPLEMENT DIRECT MAIL ADVERTISING TO THE CAMPAIGN —KEEP THE PACKET

SIMPLE AND LIGHT WITH EASY LANGUAGE FOR CUSTOMER TO UNDERSTAND.

OBJECTIVES
1. IN ONE YEAR, SUCCESSFULLY PENETRATE THE MARKET WITH GREENLIGHT D EBIT CARD
BY GENERATING AWARENESS AND BRAND BUILDING PREFERENCE BY 30%.

2. WITHIN 6 MONTHS, STIMULATE NEW MEMBER ACCOUNTS BY 25% BY OFFERIN G

INCENTIVES.

3. BY JANUARY 2020, COLLECT INFORMATION FROM 50% OF CUSTOMERS ON HO W TO

IMPROVE THE PRODUCT/SERVICE.
 Implement Maintain
Expand internal
media relations website and
communications
program mobile app

Utilize a variety
of social media
Create dynamic
Engage
feedback on
Communication
platforms
marketing tools
social media Plan-Tactics

Annual sales
promotion
 SWOT ANALYSIS
STRENGTHS WEAKNESSES
New Service in the Market Relatively new service to the market
Affiliated with Mastercard, vast presence in the market Still improving product/service application
Mass-Appeal Audience Low-marketing skills
Alternative to Cash Monthly service fee
Wide-ranging expertise in management
Service is accessible via mobile device
OPPORTUNITIES THREATS
Kids with smartphones is increasing New competition emerging in the market—offering the same
Growing desire for parents to teach their kids how to manage service at a lower cost.
money Changing customer demands
Collaborative partnerships include Amazon, TTV Capital, New Government regulations
Enterprise Associates (NEA) and Relay Ventures Cyber attacks and hacking
Technological advances
Multiple distribution channels
Media Strategy

Media Channels
 Social media and digital communities: Advertise on a variety of social media outlets
such as Facebook, Instagram, and Twitter.

 Video content: Embed 30-second video clips via YouTube to promote the debit card.

 Games: Advertise on smartphones through games and virtual environments.

 Mass media: Magazines, billboards, radio, television, and Internet.

8
 Involvement and Motivation of Audience
Buzz Marketing: A word-of-mouth technique used to create excitement around the
brand.

Celebrity or opinion leader endorsements: Communicate credible/reliable facts and

testimonials about the product that will appeal to your audience.

Influencer-driven: Use advocacy to get influential people to promote Greenlight to

family members and friends.

 Stakeholders: Encourage stakeholders who have a direct interest in Greenlight to

support and sponsor the product.

Involve social media followers into their narrative: Motivate social media users to
“Like,” “Share,” “Follow,” “Post,” or "Tweet,” about Greenlight debit card.

Encourage open communication: Engage in feedback between employees and

customers via social media.
 References
1. BRINNEHL, K. (2018, MARCH 19). GREENLIGHT FINANCIAL
TECHNOLOGY QUADRUPLES CUSTOMERS TO 100K IN SIX MONTHS
AFTER RECENTLY ANNOUNCING $16MM SERIES A FUNDING.
RETRIEVED FROM HTTPS://SEARCH-PROQUEST-
COM.EZPROXY.LIB.PURDUE.EDU/DOCVIEW/2014953871/477EBEEF363
A4403PQ/2?ACCOUNTID=13360

2. GREENLIGHT FINANCIAL TECHNOLOGY, INC. (2017, JUNE 2).

GREENLIGHT HITS 10,000 CUSTOMERS IN ITS FIRST 5 MONTHS AND
RAISES $7.5 MILLION TO ACCELERATE GROWTH. RETRIEVED FROM
HTTPS://WWW.PRNEWSWIRE.COM/NEWS-RELEASES/GREENLIGHT-
HITS-10000-CUSTOMERS-IN-ITS-FIRST-5-MONTHS-AND-RAISES-75-
MILLION-TO-ACCELERATE-GROWTH-300467658.HTML

3. GREENLIGHT FINANCIAL TECHNOLOGY, INC. (2018, OCTOBER 8).

FAMILIES LOVE GREENLIGHT 2.0 AS IT HELPS PARENTS RAISE
FINANCIALLY-SMART KIDS, EARNING A RATING OF 4.8 STARS OUT OF
5 ON APPLE'S APP STORE. RETRIEVED
FROMHTTPS://WWW.PRNEWSWIRE.COM/NEWS-RELEASES/FAMILIES-
LOVE-GREENLIGHT-2-0-AS-IT-HELPS-PARENTS-RAISE-FINANCIALLY-
SMART-KIDS-EARNING-A-RATING-OF-4-8-STARS-OUT-OF-5-ON-
APPLES-APP-STORE-300725544.HTML

4. PARENTE, D., & STRAUSBAUGH-HUTCHINSON, K. L. (2015).

ADVERTISING CAMPAIGN STRATEGY: A GUIDE TO MARKETING
COMMUNICATION PLANS. BOSTON, MA: CENGAGE LEARNING.