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INTEGRATED MEDIA
CHANNEL MARKETING
PLAN FOR PAYPAL
JASON PANCHO
TABLE OF
CONTENTS:
Executive Summary 03
Campaign Background & Research 04
SWOT Analysis 06
Target Audience/Potential Market 07
Customer Profile 08
Marketing Goal, Objectives and Strategies 09
Creative Strategy 01
Points of Parity - Venn Diagram, Creative Statement & Tagline 10
Rejected Statements 11
Creative Brief Questions + Answers 12
Promotional Mix/Communication Channels 14
Creative Execution 17
Conclusion 19
References 20
3
PayPal is one of the leading digital financial solutions providers in
the world. It has become an authority in its industry and has been
looked upon as a staple to reference from. But PayPal won’t be in the
top for very long. If things don’t change, they may just be another
face in the crowd or worse, just forgotten altogether. Many of its
competitors that has popped up over the years draws their influence
from PayPal and some address some gaps that PayPal lacks for their
client base. As technology evolves and more parts of the world’s
population becomes more digital technology fluent, PayPal can
expand, but only if and when audiences understands everything that
they have to offer. As it stands, PayPal faces fierce competition with
other providers such as Square, Intuit, Authorize.net and more. The
threats don’t stop there as the rise of P2P, or Peer to Peer, payment
apps including CashApp, Zelle, GooglePay, and even PayPal’s own
subsidiary Venmo treads in PayPal’s waters.
As an electronic currency platform PayPal offers many solutions for
their audience but not everyone may be fully aware of it all especially
entrepreneurs and small businesses, of whom may not be able to
afford full accounting and point of sales systems.
THE EXECUTIVE
SUMMARY:
unsplash.com
4
Founded in 1998 by Peter Thiel and Max Levchin, technology
entrepreneurs that launched Confinity, now known as PayPal. The
two had founded the company on the market as a way to not only
solve but to expedite online business payments with retail sites such
as eBay.
“Why didn’t anyone else notice that consumer and business
payments on early retail sites like eBay were being paid by
checks and money orders via the U.S. Postal Service, resulting
in delays for products to be delivered and for checks to clear?
(O’Connell, 2019)
PayPal (then known as Confinity) answered the ecommerce question
and helped standardize an online payment platform for retail sites.
However, the company was not a lone venture. “PayPal was the
product of a merger between X.com and Confinity.” (Britannica, 2020)
The company eventually spun off from eBay to become their own
company in 2015.
“We believe that now is the time to reimagine money, to democratize
financial service, so that managing and moving money is a right
for all citizens, not just the affluent.” (Msa, 2020) PayPal’s mission
statement that focuses on how the company wanted to change
the way how financial transactions were processed. “PayPal’s core
values include ‘collaboration, demonstrating integrity, trust, respect,
empathy, innovation, wellness, and inclusion.’” The company’s
mission and core values hold true as they’ve become an authority
and established standards for electronic transactions around the
world. The company is currently trending upwards financially with
its latest (February 5th 2021) open price of $268.61 and closing at
$269.44 with an afterhours change to $270.75. Unsurprisingly, with
the current status of the world dealing with the Covid-19 pandemic,
“PayPal profit triples as pandemic drives continued surge in online
payments,” safely assuring that the company is doing well financially
with the rise of electronic form payments through their various lines
of company products. (PayPal profit triples…, n.d.)
PayPal has an array of products for their consumers to use. PayPal’s
products and services includes: PayPal Mobile, PayPal Cash Card
(Debit Mastercard), PayPal Cashback Mastercard, PayPal Extras
Mastercard, eBay Mastercard, Pay with Rewards, PayPal Key, PayPal
Working Capital, Pay in 4, PayPal Credit, PayPal Business Debit
Mastercard, PayPal Smart Connect, PayPal Pools, PayPal Shipping,
and Coupons & Gift Certificates. However, PayPal has not limited
their services and products to those listed, but they assist retailers with
a variety of devices for their point of sale (POS) to process payments
and assist consumers of those merchants the ability to process safe,
electronic payments. PayPal offers credit card options through their
partnership with Mastercard in the form of their PayPal Cashback
Mastercard, Extras Mastercard, PayPal Credit, and eBay Mastercard.
They’ve opened up debit use of PayPal finances through their PayPal
Cash Card, Business Debit with Mastercard. The company’s “PayPal
Smart Connect is a line of credit that you can use to make purchases
through PayPal.” (How can we help?, n.d.) Some additional services
are listed with descriptions courtesy of PayPal.com
PayPal Key – is a virtual card and a new way to use your
PayPal account anywhere cards are accepted online. You can
use PayPal key like a card at any online merchant that accepts
Mastercard – even those that don’t have a PayPal button.
PayPal Working Capital – is a business loan of a fixed
amount, with a single fixed fee. The loan and fee are repaid
automatically with a percentage of your PayPal sales (a
minimum payment is required every 90 days). There are no
periodic interest charges, late fees, pre-payment fees, penalty
fees, or any other fees.
Pay in 4 – is a feature that lest you split your purchase into
4 payments, with the down payment due at the time of
transaction and 3 subsequent payments made every 2 weeks
thereafter.
PayPal Pools – (also known as PayPal Money Pool), PayPal
Money Pool is an easy and fast way to collect money from
friends. Whether you need to rais money for a holiday, a
THE RESEARCH
& BACKGROUND OF :
5
group gift, or for regular shared expenses, just create a Money
Pool and share it with your friends and family. Please note
that you’re responsible for spending the money collected for
the purpose set out in your Money Pools page.
PayPal Shipping – With PayPal Shipping, you can purchase
U.S. Postal Service and UPS Shipping labels online using your
PayPal account. (Products and services – faq, n.d.)
PayPal’s range of products and services indeed caters to a wide variety
of audience members. “PayPal uses psychographic and demographic
segmentation strategy to target different customer segments … It
uses product class positioning strategy in order to create appropriate
brand visibility in the different markets globally.” (Bhasin, 2018) One
particular target for PayPal is to appeal the Millennial age group.
“PayPal targets millennial shoppers with ‘easy payment’ plans.” (Sope,
2018) This method gives customers the opportunity to “buy [the
machine] outright for a discount-or stretching the payments over
nine months,” leading to positive results. Other more obvious target
audiences include merchants providing products and services.
Unfortunately, as technology evolves so do the competitors of PayPal
as they continue to pop-up and flood the transactional services
market.
Some of the ‘Best PayPal Alternatives’ according to hubspot.com
include Google Pay, WePay, 2CheckOut, Authorize.net, Skrill, Intuit,
ProPay, Dwolla, Braintree, and Stripe to round out the top 10. The
alternatives to PayPal addresses instances of “[You] might be in
this situation if you want: Seller protection for digital goods; Lower
fees for chargebacks; Faster turnaround for withdrawn PayPal
funds (PayPal can take up to four business days to show up in your
account); A more hands-on customer success team.” (Prater, n.d.)
Other notable competitors include Square, Zelle, Cash, and Venmo –
where Cash App is a product of the Square company and Venmo is a
recent acquisition and product of PayPal.
With the ever-changing course of ecommerce and PayPal has
announced that they are introducing five new products for the year
2021. These products are meant to market the company in a new way
with introduction of new products where in 2020 “PayPal introduced
key new products like cryptocurrency investing, QR codes, and the
option to buy now and pay later.” (Levy, n.d.) For 2021, PayPal will
appeal to investing more as “Rival payments company Square is way
ahead of PayPal when it comes to making investing easy for its users.”
Not only will PayPal be expected to allow users to buy, sell, and hold
cryptocurrency in international markets, but they are introducing the
ability to spend cryptocurrency through their PayPal platform too.
PayPal is also expected to Enhance Bill Pay, where payment history
will be able to be captured and provided. “PayPal could introduce
budget and savings tools to its wallet in 2021” a move of which their
consumer base will likely find appealing as it markets and brings
the company that much closer to a one-stop-shop for merchant
seller/consumer needs. As digital payments are on the rise, so are
the constant challenges to find the best deal for their consumer
goods. PayPal’s acquisition of Honey will help the company with
providing those similar/same offers normally found in the Honey
browser extension, which shops around for the best price and tracks
the product price changes. PayPal’s integration of Honey will allow
the company to market their appeal to consumers increased use of
PayPal in stores while merchant’s appeal will allow them to adjust
their promotions and marketing to be more directly targeted.
THE RESEARCH
& BACKGROUND OF :
6
STRENGTHS
PayPal levels the field and gives small businesses a chance to process
payments as efficiently as large companies.
They provide a range of payment methods for consumers and
businesses to process, including recurring payments, payment
arrangements, credit, and more.
PayPal gives its consumers marketing assets, software and hardware at
little to no cost and without subscriptions.
PayPal gives its end users and businesses a way to dispute transactions
for partial up to full refunds depending on investigative results.
PayPal partnered with MasterCard to provide card services to personal
and business class audiences with a global presence.
WEAKNESSES
PayPal when compared to its competitors has high processing fees.
Must have a working internet connection to be able to process
merchant services.
PayPal verification system with banks can take days
Local restrictions in countries like China, Japan, Taiwan, Brazil, India
Not popular in some countries where people are conservative about
online payments.
OPPORTUNITIES
PayPal is able to insert itself into markets where cashless options are
becoming more in demand, especially with limited contact in place
due to the Covid-19 Global Pandemic.
Ability to align itself with small businesses.
PayPal still has countries it hasn’t expanded into yet.
Has the resources to expand into dedicated online stores for
consumers to build out such as how WooCommerce is with
WordPress websites.
PayPal has the option to expand into the Cryptocurrency market.
THREATS
PayPal now faces a large market of different competitors
internationally and domestic, including Square, GoogleWallet, WePay,
Authorize.net, and even it’s own subsidiary, Venmo.
Subject to hacking and fraud threats.
Has history of transaction issues.
Strict economic policies in various international markets.
Banking services that are now offering similar services as PayPal for
immediate money transfers, like Zelle.
THE SWOT
ANALYSIS OF:
7
The ideal demographic where PayPal will continue to see an
increased trend will be with the younger generations, primarily
millennials as trends for today’s commerce trends to be more
electronic as reported in 2017 by chargeback.com
87% of millennials use PayPal which they use for both paying
and receiving money. Where only 15% of Generation Y, X,
and Boomers use PayPal. As we move into a more digital
age younger generations that don’t carry cash can still easily
transfer money. (The success story of paypal [infographic
from play-n-pay] 2017)
With the wake of the global pandemic of Covid-19, it has become
encouraged for consumers to use a contactless method of payment.
However, this should not discriminate the other generations –
such as X, Y, and Boomers as consumers of PayPal as it’s become
common place and part of the culture for the younger generations
to use electronic payments, whether contactless or peer-to-peer. In
fact, “PayPal is attracting a new demographic during stay-at-home
shutdowns: what it calls “silver tech.”’ (Krooney, 2020) It’s understood
that a large portion of the world’s economy had took a hit during the
pandemic especially small retailers. With the advent of electronic
payments on the rise, many retailers have adopted new means
of accepting payments, one of which being PayPal. Many PayPal
retailers are artisans of foods, fashion, and art and found that PayPal
is widely used method of obtaining payments. “The company has
seen an older audience flock to digital payments as cash is seen as a
germ risk and people across the U.S. stay at home to avoid spreading
Covid-19. People over 50 were the company’s fastest growing
segment from March to April, according to PayPal.” (Krooney, 2020)
Some use PayPal as a means to attain payments for non-medical
Personal Protective Equipment, PPE, that they made such as masks
and face shields for consumers. Small businesses are the foundation
of the United States economy and is what kickstarted the country at
its beginning. These owners must compete with larger corporations
and need all the help that they can get. In this case, PayPal provides
small businesses the means to conduct transactions by accepting
and processing electronic payments, online selling platforms, point
of sale systems for static and mobile storefronts. But not all of these
small business owners are comfortable with electronic payment
systems, others not so much with being digitally literate. With PayPal,
they’ve made it easy to use to get started but not everyone knows that.
That is where PayPal needs help to market because their potential
small business audiences are being scooped up by competitors such
as Square and Clover. The business owners don’t want anything
complicated or too difficult to use; something secure and reliable –
that is PayPal.
TARGET AUDIENCE
& POTENTIAL
MARKET OF
:
8
Meet Marieliz, she’s a small
business owner of Walking
on Acrylic. She’s a busy
millennial that works a full-
time job for an employer but
also creates art on different
mediums through her
small business. She recently
moved to Jacksonville,
Florida, has no children but
lives with her boyfriend
and her cat. Marieliz, when
not working her full-time
spends time working on
commissions of themed
artwork or graphic design
work but finds that she has
so many different sources
to accept payments through
which leaves her at a loss
of how to keep track of her
sales and how much she spends on materials. Between her full-time
work, life and her small business she make’s ends meet but wants to
find a way to free up more time to do more with family, friends and
for herself. If she was able to easily open up an app on her phone
or computer, make a few clicks or taps, and hit send, in one place
it would make it easier to manage things. This especially when she
finds herself going to conventions and sets up a booth, she doesn’t
have the time to scramble between different screens and applications
to process an invoice, payment, or receipts. She sometimes has repeat
customers where she wants to set up recurring payments without
having to continuously, manually process them each time, and on
time. With the wake of electronic mobile payments becoming a
normalcy in the major cities she visits; she wants to be able to accept
payments from anyone at the spur of a moment. She also wants to be
conscious of social distancing given the onset of a global pandemic.
What she needs is a service for small businesses that she can rely
on as a one-stop-shop for everything that she needs to do without
having to spend too much time maintaining it.
A CUSTOMER
PROFILE FOR :
9
GOAL
To increase use of PayPal as a resource for Small
Business owners as a point of sales platform.
OBJECTIVES
Increase awareness of Small Business programs that
PayPal offers 25% in 6 months.
o Use social media analytics to create targeted advertisements
o Create static and kinetic ads for social platforms, each micro-
campaign with imagery and text adjusted per demographics.
o Create referral incentives for current users and new platform
users
o Make accessible/create resources for Small Business owners to
use to increase their traffic
Increase electronic financial processes through
PayPal platforms 35% in 12 months.
o Create incentives for use (i.e. cashback bonuses, discounts,
point systems, etc.)
o Waive certain fees for processing for a set calendar period or
until financial threshold is met
o Offer bonus to complete x-transactions by certain time
period; where x = the defined number of transactions
o Partner with subsidiary p2p financial platform, Venmo to
open payment options from Venmo users to PayPal retailers
:
MARKETING GOAL,
OBJECTIVES,
& STRATEGIES
10
THE CREATIVE
STRATEGY FOR:
RATIONAL EMOTIONAL
•	 Take selling anywhere you go.
•	 Accept payments anywhere.
•	 Contactless payment options.
•	 Merchant services including payment
options for consumers, online store
integration and product buttons,
shipping, advertising, invoicing, tax
forms and store management.
Creative Strategy Statement: Bringing your business needs everywhere, anywhere.
Tagline: Have it all, with PayPal.
•	 Able to be the one stop shop for your
potential shoppers.
•	 Perfect and easy to use platform for
DIYers, Small Businesses, and artisans.
•	 Never have to worry about not being
able to accept a payment again.
•	 Feel powerful with all the store
transactional functions in one place.
11
THE CREATIVE
STRATEGY FOR:
Chosen Creative Strategy Statement:
Bringing your business needs everywhere, anywhere. With PayPal.
Rejected Creative Strategy Statements:
A place to have all of your business needs at your fingertips. PayPal.
Simplifying all your business financial needs all to one place with PayPal.
Making it simple for business owners to do anything, big and small with PayPal
PayPal makes it simple for business owners, big and small.
Making it simple for business owners, big and small in PayPal.
Giving owners the chance to do business anywhere, with PayPal.
Get paid anywhere with PayPal.
12
THE CREATIVE
BRIEF FOR:
What are we advertising?
PayPal platform.
Whom are we talking to?
All generations, from Baby Boomers to Millenials. Small business owners, freelancers, artisans.
What do they currently think?
They think that they need to have PayPal competitor platforms because they are easy to use or
they have useful features and are cheaper to use.
What would we like them to think?
PayPal is a financial platform with available merchant services for their business users and is easy
to use or integrate into their existing business model.
What is the single most persuasive idea we can convey?
Accept payments anywhere with PayPal.
Why should they believe it?
Audiences should believe that PayPal is able to process and accept payments for transactions
of many global currencies digitally and physically with extended payment options for their
customers to pay with pending approval.
Are there any creative guidelines?
Must advertise with assets specific to the PayPal platform and not its subsidiaries such as its P2P
payment platform Venmo.
13
THE
RESEARCH:
How does this generation of people
spend money?
This generation of people almost seem as they don’t have any
hesitation to spend money if they have it at their means to use, but
cautiously as they don’t want to repeat the mistakes of generations
prior. “There are more Millennials on the planet than any other
generation, and they have a lot of money to spend. How much
exactly? How about $2.8 trillion. And MSBOs [Millennial Small
Business Owners] alone spend about $150 billion. That accounts for
25 percent of all spending from all U.S. SBOs … they’re taking the
reins and starting their own gigs. In fact, 60 percent of Millennials
identify as entrepreneurs.” (Works, 2020) Ultimately, although
there’s no hesitation in spending, there is consciousness as to how
they spend it. They’re willing to spend monies if it means as an
investment to hopefully make more.
What contributes to their purchase
decision-making?
As Millennial Small Business Owners, they’ve made their decisions
based on experiences and history. They’ve seen and understood the
struggles of their parents generations and those around them and
have used that to sculpt their decisions. “They watched the corporate
world, with its poor management, fraudulent behaviors, and just
overall bad business, drive their parents out and into the open
arms of independent business ownership. That stigma stuck with
them. Who wants to work in a cubicle-farm under Bill Lumbergh—
the traditional, micro-managing middle man who expects TPS
weekend work?” (Millennials Decoded, 2020) With everything that
MSBOs have been exposed to, many look at what they see and are
overwhelmed the feeling and decisions of understanding that they
may be able to do that or often say to themselves “Hey, I can do that!”
(Millennials Decoded, 2020) So based on their DIY thinking and
attitude much of their purchase decision-making stems behind what
they can mindfully afford and are able to do with their purchases to
benefit with.
What is their average income?
The average income for Small Business Owners is approximately
$68,380.
What is their lifestyle?
Cautious and conscious of their decisions. “MSBOs are extremely
cautious by nature. This is in part due to their highly conscientious
personality make-up … The world we live in is moving and
developing quickly, and Millennials are slowing down the pace
to ensure that they aren’t making the same critical mistakes the
witnessed. Because of all this free-flowing information, they spend
most of their time in social distrust. Online distrust. And, from a
financial perspective, most Millennials are still dealing with the
student debt crisis, so they are being more cautious with finances as
well.” (Millennials Decoded, 2020) “With Millennials, their cautious
nature drives them to be balanced when it comes to decision-
making. In other words, they need a healthy dose of rational thinking
in their decision-making process. They are more informed than
any previous generation.” Ultimately, the lifestyle for Millennials,
more specifically Millennial Small Business Owners, they’ve found
themselves more cautious and informative about their decisions.
What things do they care about?
As what contributes to their purchase decision-making, the same
goes for what they care about. They care about what struggles their
predecessors had undergone and many often promise to never
repeat the same mistakes of poor management, fraudulent behaviors
and bad business. Millennial Small Business Owners care about their
reputation, appearance towards others and how people are treated as
they also care about what they can accomplish for themselves.
14
KINETIC/VIDEO AD
Via Social Media:
YouTube, Facebook, Twitter, Instagram
Via Streaming:
Hulu, YouTube TV, etc.
STATIC AD
Via Social Media:
YouTube, Facebook, Twitter, Instagram,
Google, Bing
Via Print:
Magazines & Newsprints – Financial,
Business, Tech
PROMOTIONAL MIX
& COMMUNICATION
CHANNELS
:
unsplash.com
15
YouTube/Google
The use of YouTube as an advertising platform and subsidiary of
Google and the Alphabet company will allow PayPal not only a way
to upload video and kinetic/static image content, but to advertise
to the masses globally. “YouTube has a huge following – indeed it
enjoys more than 1.5 million logged-in monthly users.” (How much
do youtube ads Cost? [updated 2020] 2020) The platform is enjoyed
on a variety of smart devices including, smartphones, tablets, video
game systems, smart TVs, and computers. YouTube offers a variety
of formats that PayPal could develop ads for – Display ads, Overlay
ads, Skippable video ads, Non-skippable video ads, Bumper ads,
and Sponsored Cards. Static image advertising on YouTube would
primarily be found as Display Ads, Overlay Ads, and Sponsored Cards.
Display ads – appear to the right of the feature video, above the
video suggestions list – on the desktop platform only.
Overlay ads – these are semi-transparent overlay ads that
appear on the lower 20% of your video – on the desktop
platform only. These can be either image or text ads.
Sponsored Cards – these provide content relevant to the video,
for example, products featured in the main video.
Video ads for YouTube and Google vary on length but can be
introduced to audiences as skippable video ads, non-skippable video
ads, and bumper ads.
Skippable video ads – the most common type of YouTube ad.
These are the ads you see before, during, or after a video which
a viewer can skip after 5 seconds.
Non-skippable video ads – these are video ads that viewers
must watch before they can view the main video. There is an
extended version, with 30-second ads, but YouTube is about
to phase these out due to their unpopularity. Non-skippable
videos are more typically 15-20 seconds in length.
Bumper ads – these are non-skippable videos up to 6 seconds
which a viewer must watch before seeing the main video.
(How much do youtube ads Cost? [updated 2020] 2020)
Facebook/Instagram
The use of Facebook as an advertising platform allows PayPal a way
to gear various targeted ad campaigns to specific demographics
based on information made available to the platform by the end
user. Through the Facebook Business portal, advertisers can upload
static and kinetic images, in addition to video content and specifying
business owners and entrepreneurs alike based on industry, region,
and demographics. Instagram, a subsidiary of the Facebook company
introduces the same options plus an image carousel that lets its users
often create small image campaigns to tie their messaging together as
part of their CTA – Call to Action.
Twitter
Like their Facebook and YouTube counterparts, Twitter is a global
social media platform supported across many countries and
devices. The platform similarly can target specific audiences based
on categories, tags, events, regions and additional metadata. Other
data for targeting audience members include gender, interests,
engagements, keywords, language, age, location and even device type
and Twitter access.
Static Advertising
All the social media platforms have resources for creating targeted
advertising towards various small business and entrepreneurial users.
However, as easier and the more widespread digital advertising is,
printed advertising still proves effective and timeless. PayPal can
create targeted print ads for financial, technology, and DIY (Do-It-
Yourself) publications. Campaigns such as the convenience and
contactless lifestyle that PayPal offers for users to pay with can be used
in technology and DIY publications as they are often geared towards
purchasing consumers. As for business owner and entrepreneurs may
find advertising campaigns from PayPal that advertises merchant
:
PROMOTIONAL MIX
& COMMUNICATION
CHANNELS
16
features, ease of use, and convenience more useful.
Cost
The various platforms call for an array of budget choices based on
PayPal’s advertising needs. With print, the cost of advertising is
dependent on a one-time fee for a lone publication volume run or
recurring fees for multi-volume print runs.
Print ads that run in local or national magazines … Typical
Cost: $500 to $20,000, depending on whether the publication
is local or national, the size of your ad, whether you use color
and if you’ve negotiated a multiple-ad rate. You can spend
as much as $500,000 to buy the inside front cover of some
national magazines! (Kobliski, 2006)
Digital advertising follows a similar structure. Social media advertising
may charge based on clicks, views or impressions, likes, or actions.
Similarly, digital advertising for video based ads such as on YouTube
and Hulu follow pricing based on per click, per month, or per view.
Every day, people watch more than one billion hours of video
on YouTube. For businesses, the popularity of YouTube offers
a new way to reach consumers, especially users between the
ages of 18 to 34, an age group that dominates the social media
network. (How much does social media advertising cost in
2021?)
Appeal
The appeal to the advertiser – PayPal to use these various media
channels is that they have the ability adverse and target specific
audiences based on desired specifics and allocated budgets. The
appeal to the consumers is dependent on the campaign. The
campaign towards business owner and entrepreneur consumer
audiences appeals towards the various merchant marketing features,
fee schedules, payment options, and payment mediums. The
campaign towards purchasing consumer audiences from businesses
and entrepreneurs should contain ads and messaging towards the
convenient lifestyle, ease of use, and reliability of PayPal.
PayPal is the faster, more secure way to pay online. It lets you
pay for your favorite things at millions of online stores in the
U.S. and across the 203 global markets — all without the hassle
of converting currency. So it’s easy to know how much you’re
spending …
Start accepting payments today
We make it easy — from creating a shareable link to adding a
full-featured checkout to your website.
Expand to new channels
Sell on social media, charge for services, offer subscriptions, or
even fund growth. PayPal has the tools you’re looking for on
one, simple platform.
Get paid almost everywhere
Accept payments online, in a physical storefront, or even on-
the-go. Your customers can pay the way they want, quickly
and easily.
Grow on an all-in-one platform
As you reach new milestones, our comprehensive commerce
platform has scalable tools designed to grow with you. (paypal.
com)
Often enough the small business owners will turn to social media and
online reviews in articles and video sources as a means to understand
more about the PayPal Merchant platform and its benefits. The appeal
in messaging should show how easy it is to navigate the merchant
platform and process payments with samples of headlines such as
“PayPal, working for you” as a means to appeal to how PayPal does a lot
of processes for the merchant. Similarly, for consumers the messaging
should appeal to the ease of use and the quick and secure payment
processes. Its advertising should show consumers accessing the
PayPal mobile app to pay using QR codes, sending payments to other
users via email/phone number, and/or show payments through use
of PayPal’s account linked and secure MasterCard for debit and credit
accounts.
:
PROMOTIONAL MIX
& COMMUNICATION
CHANNELS
17
CREATIVE
EXECUTION
Easy to use. Secure payments.
All in one. Have it all, with PayPal.
With your Business account, you get an entire
commerce platform.
Call 1-855-456-1330 or
visit paypal.com/us/business to get started.
PayPal and MasterCard logos are copyright and/or owned by their respective owners and no copyright infringment is intended for this advertisement.
Image from unsplash.com. Advertisement by Jason Pancho.
18
CREATIVE
EXECUTION
19
In a time as technology rapidly evolves and expands across the
globe, PayPal must be ready to position themselves to become an
authority in the industry once again. They continue to expand
their resources available to their business and consumer audiences
but must ensure that their messages of available resources is
known. PayPal will need to create campaigns that span across
various medias from social media and streaming sources to print
publications. Campaigns comprising of static/kinetic images and
videos for business owners will need to appeal to the ease of use
PayPal point of sale compatible systems, and online store support.
They will also need to appeal multiple payment options and secure
payment processing in addition to other merchant services including
shipping. For consumers, PayPal will need to appeal to their ease
of use, ability to do P2P payments, and user security. Regardless of
which audience to campaign for, PayPal will have the ability to adjust
their marketing according to available resources made for digital
advertising such as on social media channels like Facebook and
Instagram. Similarly for video content made available according to
YouTube, Facebook, Instagram, and even Hulu. Ultimately, PayPal will
need to hit the markets before they become another face in the sea
of their competitors or worse, be lost in history and lose out to their
competitive replacement platforms.
THE
CONCLUSION:
unsplash.com
20
SOURCES
2019 small business trends for millennials. (n.d.). Retrieved February 28, 2021, from https://www.guidantfinancial.com/small-business-trends/
millennial-business-trends/#:~:text=Millennials%20are%20the%20most%20diverse%20group%20of%20small,to%20only%2011%20percent%20
of%20Hispanic%20boomer%20entrepreneurs.
29+ incredible PAYPAL statistics to know in 2020. (2021, January 22). Retrieved February 15, 2021, from https://spendmenot.com/blog/paypal-
statistics/
5 surprising findings About MILLENNIAL small business owners. (2018, November 29). Retrieved February 28, 2021, from https://www.nfib.com/
content/analysis/start-a-business/5-surprising-findings-about-millennial-small-business-owners-71621/
Average small business owner salary. (n.d.). Retrieved February 28, 2021, from https://www.payscale.com/research/US/Job=Small_Business_Owner/
Salary
Best, R. (n.d.). Topic: Paypal. Retrieved February 15, 2021, from https://www.statista.com/topics/2411/paypal/#dossierSummary__chapter3
Bhasin, H. (2018, September 27). Marketing strategy of paypal - paypal marketing strategy. Retrieved February 08, 2021, from https://www.
marketing91.com/marketing-strategy-paypal/
Bhasin, H., & Virgo, M. (2019, January 28). SWOT analysis of Paypal - Paypal SWOT analysis. Retrieved February 13, 2021, from https://www.
marketing91.com/swot-analysis-paypal/#:~:text=High%20Processing%20fees%3A%20PayPal%20has%20high%20processing%20
fees,transactions%3A%20PayPal%20has%20been%20accused%20of%20Withheld%20funds%2C
Britannica, T. Editors of Encyclopaedia (2020, October 8). PayPal. Encyclopedia Britannica. https://www.britannica.com/topic/PayPal
Business help center. (n.d.). Retrieved February 23, 2021, from https://www.facebook.com/business/help/201828586525529?id=629338044106215&r
ef=fbb_budgeting
Chris. (2019, September 25). History of paypal. Retrieved February 08, 2021, from https://www.historyofbranding.com/paypal/
Editors, T. (2017, September 26). How much does advertising cost? Retrieved February 23, 2021, from https://www.thumbtack.com/p/advertising-
costs
THE
IMC MARKETING
PLAN SOURCES OF
:
21
Feldman, S. (2020). Millennials Decoded [PDF]. Unknown: Cargo & Brandthro.
How can we help? (n.d.). Retrieved February 08, 2021, from https://www.paypal.com/us/smarthelp/article/What-is-PayPal-Smart-Connect-
FAQ1320?_=
How can we help? (n.d.). Retrieved February 23, 2021, from https://www.paypal.com/us/smarthelp/article/what-are-the-benefits-of-using-paypal-
faq3704
How much does social media advertising cost in 2021? (n.d.). Retrieved February 23, 2021, from https://www.webfx.com/how-much-does-social-
media-advertising-cost.html#pinterest
How much do youtube ads Cost? [updated 2020]. (2020, July 21). Retrieved February 23, 2021, from https://influencermarketinghub.com/how-
much-do-youtube-ads-cost/
Kobliski, K. (2006, January 17). Magazine ads. Retrieved February 23, 2021, from https://www.entrepreneur.com/article/83094#:~:text=Opinions%20
expressed%20by%20Entrepreneur%20contributors%20are%20their%20own.,color%20and%20if%20you%27ve%20negotiated%20a%2-
0multiple-ad%20rate.
Krooney. (2020, May 18). PayPal sees a rise in ‘silver tech’ as older generations Test digital payments. Retrieved February 15, 2021, from https://www.
cnbc.com/2020/05/18/paypal-sees-a-rise-in-older-generations-trying-digital-payments.html
Levy, A. (n.d.). 5 new Paypal products coming in 2021. Retrieved February 08, 2021, from https://www.msn.com/en-us/money/companies/5-new-
paypal-products-coming-in-2021/ar-BB1dtfdS
Main, K. (2021, January 22). Everything you need to know about tv advertising costs. Retrieved February 23, 2021, from https://fitsmallbusiness.com/
tv-advertising/
Marketing & advertising on LinkedIn: LinkedIn marketing solutions. (n.d.). Retrieved February 23, 2021, from https://business.linkedin.com/
marketing-solutions
Msa. (2020, June 11). PayPal mission STATEMENT 2021: PAYPAL Mission & Vision Analysis. Retrieved February 08, 2021, from https://
mission-statement.com/paypal/#:~:text=PayPal%E2%80%99s%20core%20values%20include%20%E2%80%9C%20collaboration%2C%20
demonstrating%20integrity%2C,culture%20as%20this%20is%20what%20determines%20its%20success.
MSN. (n.d.). Retrieved February 08, 2021, from https://www.msn.com/en-us/money/stockdetails/fi-a21icw
THE
IMC MARKETING
PLAN SOURCES OF
:
22
O’Connell, B. (2019, August 26). History of PayPal: Timeline and facts. Retrieved February 07, 2021, from https://www.thestreet.com/technology/
history-of-paypal-15062744
PayPal profit triples as Pandemic drives continued surge in online payments. (n.d.). Retrieved February 08, 2021, from https://www.msn.com/en-us/
money/companies/paypal-profit-triples-as-pandemic-drives-continued-surge-in-online-payments/ar-BB1dmQUL
Prater, M. (n.d.). The 23 best paypal alternatives of 2021. Retrieved February 08, 2021, from https://blog.hubspot.com/sales/paypal-alternatives
Products and services - faq. (n.d.). Retrieved February 08, 2021, from https://www.paypal.com/us/smarthelp/topic/PRODUCTS_AND_SERVICES
Soffar, H. (2021, January 19). What are the advantages and disadvantages of using PayPal? Retrieved February 13, 2021, from https://www.online-
sciences.com/technology/what-are-the-advantages-and-disadvantages-of-using-paypal/
Sope, S. (2018, June 11). Paypal targets millennial shoppers with ‘easy payment’ plans. Retrieved February 08, 2021, from https://www.
chicagotribune.com/business/ct-personal-finance-paypal-easy-payment-plans-20160128-story.html
Team, M. (2020, April 26). PayPal SWOT ANALYSIS: Top PayPal Competitors, STP & USP: DETAILED SWOT analysis of brands. Retrieved February 13,
2021, from https://www.mbaskool.com/brandguide/banking-and-financial-services/1262-paypal.html
The success story of paypal [infographic from play-n-pay]. (2017, August 29). Retrieved February 15, 2021, from https://chargeback.com/success-
story-paypal-recap/#:~:text=There%20are%20some%20extreme%20demographic%20with%20in%20PayPal,of%20Generation%20Y%2C%20
X%2C%20and%20Boomers%20use%20PayPal.
The many ways PayPal can support your business. (n.d.). Retrieved February 23, 2021, from https://www.paypal.com/us/brc/article/paypal-small-
business-payment-solutions
Twitter ads targeting. (n.d.). Retrieved February 23, 2021, from https://business.twitter.com/en/advertising/targeting.html
Video advertising cost – youtube advertising. (n.d.). Retrieved February 23, 2021, from https://www.youtube.com/ads/pricing/
Works, F. (2020, February 21). Millennial small business owners are a plentiful and profitable audience. Retrieved February 28, 2021, from https://
www.fastcompany.com/90466428/millennial-small-business-owners-are-a-plentiful-and-profitable-audience
THE
IMC MARKETING
PLAN SOURCES OF
:

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My PayPal Marketing Plan for Integrated Marketing - MCM3425 R1

  • 1. INTEGRATED MEDIA CHANNEL MARKETING PLAN FOR PAYPAL JASON PANCHO
  • 2. TABLE OF CONTENTS: Executive Summary 03 Campaign Background & Research 04 SWOT Analysis 06 Target Audience/Potential Market 07 Customer Profile 08 Marketing Goal, Objectives and Strategies 09 Creative Strategy 01 Points of Parity - Venn Diagram, Creative Statement & Tagline 10 Rejected Statements 11 Creative Brief Questions + Answers 12 Promotional Mix/Communication Channels 14 Creative Execution 17 Conclusion 19 References 20
  • 3. 3 PayPal is one of the leading digital financial solutions providers in the world. It has become an authority in its industry and has been looked upon as a staple to reference from. But PayPal won’t be in the top for very long. If things don’t change, they may just be another face in the crowd or worse, just forgotten altogether. Many of its competitors that has popped up over the years draws their influence from PayPal and some address some gaps that PayPal lacks for their client base. As technology evolves and more parts of the world’s population becomes more digital technology fluent, PayPal can expand, but only if and when audiences understands everything that they have to offer. As it stands, PayPal faces fierce competition with other providers such as Square, Intuit, Authorize.net and more. The threats don’t stop there as the rise of P2P, or Peer to Peer, payment apps including CashApp, Zelle, GooglePay, and even PayPal’s own subsidiary Venmo treads in PayPal’s waters. As an electronic currency platform PayPal offers many solutions for their audience but not everyone may be fully aware of it all especially entrepreneurs and small businesses, of whom may not be able to afford full accounting and point of sales systems. THE EXECUTIVE SUMMARY: unsplash.com
  • 4. 4 Founded in 1998 by Peter Thiel and Max Levchin, technology entrepreneurs that launched Confinity, now known as PayPal. The two had founded the company on the market as a way to not only solve but to expedite online business payments with retail sites such as eBay. “Why didn’t anyone else notice that consumer and business payments on early retail sites like eBay were being paid by checks and money orders via the U.S. Postal Service, resulting in delays for products to be delivered and for checks to clear? (O’Connell, 2019) PayPal (then known as Confinity) answered the ecommerce question and helped standardize an online payment platform for retail sites. However, the company was not a lone venture. “PayPal was the product of a merger between X.com and Confinity.” (Britannica, 2020) The company eventually spun off from eBay to become their own company in 2015. “We believe that now is the time to reimagine money, to democratize financial service, so that managing and moving money is a right for all citizens, not just the affluent.” (Msa, 2020) PayPal’s mission statement that focuses on how the company wanted to change the way how financial transactions were processed. “PayPal’s core values include ‘collaboration, demonstrating integrity, trust, respect, empathy, innovation, wellness, and inclusion.’” The company’s mission and core values hold true as they’ve become an authority and established standards for electronic transactions around the world. The company is currently trending upwards financially with its latest (February 5th 2021) open price of $268.61 and closing at $269.44 with an afterhours change to $270.75. Unsurprisingly, with the current status of the world dealing with the Covid-19 pandemic, “PayPal profit triples as pandemic drives continued surge in online payments,” safely assuring that the company is doing well financially with the rise of electronic form payments through their various lines of company products. (PayPal profit triples…, n.d.) PayPal has an array of products for their consumers to use. PayPal’s products and services includes: PayPal Mobile, PayPal Cash Card (Debit Mastercard), PayPal Cashback Mastercard, PayPal Extras Mastercard, eBay Mastercard, Pay with Rewards, PayPal Key, PayPal Working Capital, Pay in 4, PayPal Credit, PayPal Business Debit Mastercard, PayPal Smart Connect, PayPal Pools, PayPal Shipping, and Coupons & Gift Certificates. However, PayPal has not limited their services and products to those listed, but they assist retailers with a variety of devices for their point of sale (POS) to process payments and assist consumers of those merchants the ability to process safe, electronic payments. PayPal offers credit card options through their partnership with Mastercard in the form of their PayPal Cashback Mastercard, Extras Mastercard, PayPal Credit, and eBay Mastercard. They’ve opened up debit use of PayPal finances through their PayPal Cash Card, Business Debit with Mastercard. The company’s “PayPal Smart Connect is a line of credit that you can use to make purchases through PayPal.” (How can we help?, n.d.) Some additional services are listed with descriptions courtesy of PayPal.com PayPal Key – is a virtual card and a new way to use your PayPal account anywhere cards are accepted online. You can use PayPal key like a card at any online merchant that accepts Mastercard – even those that don’t have a PayPal button. PayPal Working Capital – is a business loan of a fixed amount, with a single fixed fee. The loan and fee are repaid automatically with a percentage of your PayPal sales (a minimum payment is required every 90 days). There are no periodic interest charges, late fees, pre-payment fees, penalty fees, or any other fees. Pay in 4 – is a feature that lest you split your purchase into 4 payments, with the down payment due at the time of transaction and 3 subsequent payments made every 2 weeks thereafter. PayPal Pools – (also known as PayPal Money Pool), PayPal Money Pool is an easy and fast way to collect money from friends. Whether you need to rais money for a holiday, a THE RESEARCH & BACKGROUND OF :
  • 5. 5 group gift, or for regular shared expenses, just create a Money Pool and share it with your friends and family. Please note that you’re responsible for spending the money collected for the purpose set out in your Money Pools page. PayPal Shipping – With PayPal Shipping, you can purchase U.S. Postal Service and UPS Shipping labels online using your PayPal account. (Products and services – faq, n.d.) PayPal’s range of products and services indeed caters to a wide variety of audience members. “PayPal uses psychographic and demographic segmentation strategy to target different customer segments … It uses product class positioning strategy in order to create appropriate brand visibility in the different markets globally.” (Bhasin, 2018) One particular target for PayPal is to appeal the Millennial age group. “PayPal targets millennial shoppers with ‘easy payment’ plans.” (Sope, 2018) This method gives customers the opportunity to “buy [the machine] outright for a discount-or stretching the payments over nine months,” leading to positive results. Other more obvious target audiences include merchants providing products and services. Unfortunately, as technology evolves so do the competitors of PayPal as they continue to pop-up and flood the transactional services market. Some of the ‘Best PayPal Alternatives’ according to hubspot.com include Google Pay, WePay, 2CheckOut, Authorize.net, Skrill, Intuit, ProPay, Dwolla, Braintree, and Stripe to round out the top 10. The alternatives to PayPal addresses instances of “[You] might be in this situation if you want: Seller protection for digital goods; Lower fees for chargebacks; Faster turnaround for withdrawn PayPal funds (PayPal can take up to four business days to show up in your account); A more hands-on customer success team.” (Prater, n.d.) Other notable competitors include Square, Zelle, Cash, and Venmo – where Cash App is a product of the Square company and Venmo is a recent acquisition and product of PayPal. With the ever-changing course of ecommerce and PayPal has announced that they are introducing five new products for the year 2021. These products are meant to market the company in a new way with introduction of new products where in 2020 “PayPal introduced key new products like cryptocurrency investing, QR codes, and the option to buy now and pay later.” (Levy, n.d.) For 2021, PayPal will appeal to investing more as “Rival payments company Square is way ahead of PayPal when it comes to making investing easy for its users.” Not only will PayPal be expected to allow users to buy, sell, and hold cryptocurrency in international markets, but they are introducing the ability to spend cryptocurrency through their PayPal platform too. PayPal is also expected to Enhance Bill Pay, where payment history will be able to be captured and provided. “PayPal could introduce budget and savings tools to its wallet in 2021” a move of which their consumer base will likely find appealing as it markets and brings the company that much closer to a one-stop-shop for merchant seller/consumer needs. As digital payments are on the rise, so are the constant challenges to find the best deal for their consumer goods. PayPal’s acquisition of Honey will help the company with providing those similar/same offers normally found in the Honey browser extension, which shops around for the best price and tracks the product price changes. PayPal’s integration of Honey will allow the company to market their appeal to consumers increased use of PayPal in stores while merchant’s appeal will allow them to adjust their promotions and marketing to be more directly targeted. THE RESEARCH & BACKGROUND OF :
  • 6. 6 STRENGTHS PayPal levels the field and gives small businesses a chance to process payments as efficiently as large companies. They provide a range of payment methods for consumers and businesses to process, including recurring payments, payment arrangements, credit, and more. PayPal gives its consumers marketing assets, software and hardware at little to no cost and without subscriptions. PayPal gives its end users and businesses a way to dispute transactions for partial up to full refunds depending on investigative results. PayPal partnered with MasterCard to provide card services to personal and business class audiences with a global presence. WEAKNESSES PayPal when compared to its competitors has high processing fees. Must have a working internet connection to be able to process merchant services. PayPal verification system with banks can take days Local restrictions in countries like China, Japan, Taiwan, Brazil, India Not popular in some countries where people are conservative about online payments. OPPORTUNITIES PayPal is able to insert itself into markets where cashless options are becoming more in demand, especially with limited contact in place due to the Covid-19 Global Pandemic. Ability to align itself with small businesses. PayPal still has countries it hasn’t expanded into yet. Has the resources to expand into dedicated online stores for consumers to build out such as how WooCommerce is with WordPress websites. PayPal has the option to expand into the Cryptocurrency market. THREATS PayPal now faces a large market of different competitors internationally and domestic, including Square, GoogleWallet, WePay, Authorize.net, and even it’s own subsidiary, Venmo. Subject to hacking and fraud threats. Has history of transaction issues. Strict economic policies in various international markets. Banking services that are now offering similar services as PayPal for immediate money transfers, like Zelle. THE SWOT ANALYSIS OF:
  • 7. 7 The ideal demographic where PayPal will continue to see an increased trend will be with the younger generations, primarily millennials as trends for today’s commerce trends to be more electronic as reported in 2017 by chargeback.com 87% of millennials use PayPal which they use for both paying and receiving money. Where only 15% of Generation Y, X, and Boomers use PayPal. As we move into a more digital age younger generations that don’t carry cash can still easily transfer money. (The success story of paypal [infographic from play-n-pay] 2017) With the wake of the global pandemic of Covid-19, it has become encouraged for consumers to use a contactless method of payment. However, this should not discriminate the other generations – such as X, Y, and Boomers as consumers of PayPal as it’s become common place and part of the culture for the younger generations to use electronic payments, whether contactless or peer-to-peer. In fact, “PayPal is attracting a new demographic during stay-at-home shutdowns: what it calls “silver tech.”’ (Krooney, 2020) It’s understood that a large portion of the world’s economy had took a hit during the pandemic especially small retailers. With the advent of electronic payments on the rise, many retailers have adopted new means of accepting payments, one of which being PayPal. Many PayPal retailers are artisans of foods, fashion, and art and found that PayPal is widely used method of obtaining payments. “The company has seen an older audience flock to digital payments as cash is seen as a germ risk and people across the U.S. stay at home to avoid spreading Covid-19. People over 50 were the company’s fastest growing segment from March to April, according to PayPal.” (Krooney, 2020) Some use PayPal as a means to attain payments for non-medical Personal Protective Equipment, PPE, that they made such as masks and face shields for consumers. Small businesses are the foundation of the United States economy and is what kickstarted the country at its beginning. These owners must compete with larger corporations and need all the help that they can get. In this case, PayPal provides small businesses the means to conduct transactions by accepting and processing electronic payments, online selling platforms, point of sale systems for static and mobile storefronts. But not all of these small business owners are comfortable with electronic payment systems, others not so much with being digitally literate. With PayPal, they’ve made it easy to use to get started but not everyone knows that. That is where PayPal needs help to market because their potential small business audiences are being scooped up by competitors such as Square and Clover. The business owners don’t want anything complicated or too difficult to use; something secure and reliable – that is PayPal. TARGET AUDIENCE & POTENTIAL MARKET OF :
  • 8. 8 Meet Marieliz, she’s a small business owner of Walking on Acrylic. She’s a busy millennial that works a full- time job for an employer but also creates art on different mediums through her small business. She recently moved to Jacksonville, Florida, has no children but lives with her boyfriend and her cat. Marieliz, when not working her full-time spends time working on commissions of themed artwork or graphic design work but finds that she has so many different sources to accept payments through which leaves her at a loss of how to keep track of her sales and how much she spends on materials. Between her full-time work, life and her small business she make’s ends meet but wants to find a way to free up more time to do more with family, friends and for herself. If she was able to easily open up an app on her phone or computer, make a few clicks or taps, and hit send, in one place it would make it easier to manage things. This especially when she finds herself going to conventions and sets up a booth, she doesn’t have the time to scramble between different screens and applications to process an invoice, payment, or receipts. She sometimes has repeat customers where she wants to set up recurring payments without having to continuously, manually process them each time, and on time. With the wake of electronic mobile payments becoming a normalcy in the major cities she visits; she wants to be able to accept payments from anyone at the spur of a moment. She also wants to be conscious of social distancing given the onset of a global pandemic. What she needs is a service for small businesses that she can rely on as a one-stop-shop for everything that she needs to do without having to spend too much time maintaining it. A CUSTOMER PROFILE FOR :
  • 9. 9 GOAL To increase use of PayPal as a resource for Small Business owners as a point of sales platform. OBJECTIVES Increase awareness of Small Business programs that PayPal offers 25% in 6 months. o Use social media analytics to create targeted advertisements o Create static and kinetic ads for social platforms, each micro- campaign with imagery and text adjusted per demographics. o Create referral incentives for current users and new platform users o Make accessible/create resources for Small Business owners to use to increase their traffic Increase electronic financial processes through PayPal platforms 35% in 12 months. o Create incentives for use (i.e. cashback bonuses, discounts, point systems, etc.) o Waive certain fees for processing for a set calendar period or until financial threshold is met o Offer bonus to complete x-transactions by certain time period; where x = the defined number of transactions o Partner with subsidiary p2p financial platform, Venmo to open payment options from Venmo users to PayPal retailers : MARKETING GOAL, OBJECTIVES, & STRATEGIES
  • 10. 10 THE CREATIVE STRATEGY FOR: RATIONAL EMOTIONAL • Take selling anywhere you go. • Accept payments anywhere. • Contactless payment options. • Merchant services including payment options for consumers, online store integration and product buttons, shipping, advertising, invoicing, tax forms and store management. Creative Strategy Statement: Bringing your business needs everywhere, anywhere. Tagline: Have it all, with PayPal. • Able to be the one stop shop for your potential shoppers. • Perfect and easy to use platform for DIYers, Small Businesses, and artisans. • Never have to worry about not being able to accept a payment again. • Feel powerful with all the store transactional functions in one place.
  • 11. 11 THE CREATIVE STRATEGY FOR: Chosen Creative Strategy Statement: Bringing your business needs everywhere, anywhere. With PayPal. Rejected Creative Strategy Statements: A place to have all of your business needs at your fingertips. PayPal. Simplifying all your business financial needs all to one place with PayPal. Making it simple for business owners to do anything, big and small with PayPal PayPal makes it simple for business owners, big and small. Making it simple for business owners, big and small in PayPal. Giving owners the chance to do business anywhere, with PayPal. Get paid anywhere with PayPal.
  • 12. 12 THE CREATIVE BRIEF FOR: What are we advertising? PayPal platform. Whom are we talking to? All generations, from Baby Boomers to Millenials. Small business owners, freelancers, artisans. What do they currently think? They think that they need to have PayPal competitor platforms because they are easy to use or they have useful features and are cheaper to use. What would we like them to think? PayPal is a financial platform with available merchant services for their business users and is easy to use or integrate into their existing business model. What is the single most persuasive idea we can convey? Accept payments anywhere with PayPal. Why should they believe it? Audiences should believe that PayPal is able to process and accept payments for transactions of many global currencies digitally and physically with extended payment options for their customers to pay with pending approval. Are there any creative guidelines? Must advertise with assets specific to the PayPal platform and not its subsidiaries such as its P2P payment platform Venmo.
  • 13. 13 THE RESEARCH: How does this generation of people spend money? This generation of people almost seem as they don’t have any hesitation to spend money if they have it at their means to use, but cautiously as they don’t want to repeat the mistakes of generations prior. “There are more Millennials on the planet than any other generation, and they have a lot of money to spend. How much exactly? How about $2.8 trillion. And MSBOs [Millennial Small Business Owners] alone spend about $150 billion. That accounts for 25 percent of all spending from all U.S. SBOs … they’re taking the reins and starting their own gigs. In fact, 60 percent of Millennials identify as entrepreneurs.” (Works, 2020) Ultimately, although there’s no hesitation in spending, there is consciousness as to how they spend it. They’re willing to spend monies if it means as an investment to hopefully make more. What contributes to their purchase decision-making? As Millennial Small Business Owners, they’ve made their decisions based on experiences and history. They’ve seen and understood the struggles of their parents generations and those around them and have used that to sculpt their decisions. “They watched the corporate world, with its poor management, fraudulent behaviors, and just overall bad business, drive their parents out and into the open arms of independent business ownership. That stigma stuck with them. Who wants to work in a cubicle-farm under Bill Lumbergh— the traditional, micro-managing middle man who expects TPS weekend work?” (Millennials Decoded, 2020) With everything that MSBOs have been exposed to, many look at what they see and are overwhelmed the feeling and decisions of understanding that they may be able to do that or often say to themselves “Hey, I can do that!” (Millennials Decoded, 2020) So based on their DIY thinking and attitude much of their purchase decision-making stems behind what they can mindfully afford and are able to do with their purchases to benefit with. What is their average income? The average income for Small Business Owners is approximately $68,380. What is their lifestyle? Cautious and conscious of their decisions. “MSBOs are extremely cautious by nature. This is in part due to their highly conscientious personality make-up … The world we live in is moving and developing quickly, and Millennials are slowing down the pace to ensure that they aren’t making the same critical mistakes the witnessed. Because of all this free-flowing information, they spend most of their time in social distrust. Online distrust. And, from a financial perspective, most Millennials are still dealing with the student debt crisis, so they are being more cautious with finances as well.” (Millennials Decoded, 2020) “With Millennials, their cautious nature drives them to be balanced when it comes to decision- making. In other words, they need a healthy dose of rational thinking in their decision-making process. They are more informed than any previous generation.” Ultimately, the lifestyle for Millennials, more specifically Millennial Small Business Owners, they’ve found themselves more cautious and informative about their decisions. What things do they care about? As what contributes to their purchase decision-making, the same goes for what they care about. They care about what struggles their predecessors had undergone and many often promise to never repeat the same mistakes of poor management, fraudulent behaviors and bad business. Millennial Small Business Owners care about their reputation, appearance towards others and how people are treated as they also care about what they can accomplish for themselves.
  • 14. 14 KINETIC/VIDEO AD Via Social Media: YouTube, Facebook, Twitter, Instagram Via Streaming: Hulu, YouTube TV, etc. STATIC AD Via Social Media: YouTube, Facebook, Twitter, Instagram, Google, Bing Via Print: Magazines & Newsprints – Financial, Business, Tech PROMOTIONAL MIX & COMMUNICATION CHANNELS : unsplash.com
  • 15. 15 YouTube/Google The use of YouTube as an advertising platform and subsidiary of Google and the Alphabet company will allow PayPal not only a way to upload video and kinetic/static image content, but to advertise to the masses globally. “YouTube has a huge following – indeed it enjoys more than 1.5 million logged-in monthly users.” (How much do youtube ads Cost? [updated 2020] 2020) The platform is enjoyed on a variety of smart devices including, smartphones, tablets, video game systems, smart TVs, and computers. YouTube offers a variety of formats that PayPal could develop ads for – Display ads, Overlay ads, Skippable video ads, Non-skippable video ads, Bumper ads, and Sponsored Cards. Static image advertising on YouTube would primarily be found as Display Ads, Overlay Ads, and Sponsored Cards. Display ads – appear to the right of the feature video, above the video suggestions list – on the desktop platform only. Overlay ads – these are semi-transparent overlay ads that appear on the lower 20% of your video – on the desktop platform only. These can be either image or text ads. Sponsored Cards – these provide content relevant to the video, for example, products featured in the main video. Video ads for YouTube and Google vary on length but can be introduced to audiences as skippable video ads, non-skippable video ads, and bumper ads. Skippable video ads – the most common type of YouTube ad. These are the ads you see before, during, or after a video which a viewer can skip after 5 seconds. Non-skippable video ads – these are video ads that viewers must watch before they can view the main video. There is an extended version, with 30-second ads, but YouTube is about to phase these out due to their unpopularity. Non-skippable videos are more typically 15-20 seconds in length. Bumper ads – these are non-skippable videos up to 6 seconds which a viewer must watch before seeing the main video. (How much do youtube ads Cost? [updated 2020] 2020) Facebook/Instagram The use of Facebook as an advertising platform allows PayPal a way to gear various targeted ad campaigns to specific demographics based on information made available to the platform by the end user. Through the Facebook Business portal, advertisers can upload static and kinetic images, in addition to video content and specifying business owners and entrepreneurs alike based on industry, region, and demographics. Instagram, a subsidiary of the Facebook company introduces the same options plus an image carousel that lets its users often create small image campaigns to tie their messaging together as part of their CTA – Call to Action. Twitter Like their Facebook and YouTube counterparts, Twitter is a global social media platform supported across many countries and devices. The platform similarly can target specific audiences based on categories, tags, events, regions and additional metadata. Other data for targeting audience members include gender, interests, engagements, keywords, language, age, location and even device type and Twitter access. Static Advertising All the social media platforms have resources for creating targeted advertising towards various small business and entrepreneurial users. However, as easier and the more widespread digital advertising is, printed advertising still proves effective and timeless. PayPal can create targeted print ads for financial, technology, and DIY (Do-It- Yourself) publications. Campaigns such as the convenience and contactless lifestyle that PayPal offers for users to pay with can be used in technology and DIY publications as they are often geared towards purchasing consumers. As for business owner and entrepreneurs may find advertising campaigns from PayPal that advertises merchant : PROMOTIONAL MIX & COMMUNICATION CHANNELS
  • 16. 16 features, ease of use, and convenience more useful. Cost The various platforms call for an array of budget choices based on PayPal’s advertising needs. With print, the cost of advertising is dependent on a one-time fee for a lone publication volume run or recurring fees for multi-volume print runs. Print ads that run in local or national magazines … Typical Cost: $500 to $20,000, depending on whether the publication is local or national, the size of your ad, whether you use color and if you’ve negotiated a multiple-ad rate. You can spend as much as $500,000 to buy the inside front cover of some national magazines! (Kobliski, 2006) Digital advertising follows a similar structure. Social media advertising may charge based on clicks, views or impressions, likes, or actions. Similarly, digital advertising for video based ads such as on YouTube and Hulu follow pricing based on per click, per month, or per view. Every day, people watch more than one billion hours of video on YouTube. For businesses, the popularity of YouTube offers a new way to reach consumers, especially users between the ages of 18 to 34, an age group that dominates the social media network. (How much does social media advertising cost in 2021?) Appeal The appeal to the advertiser – PayPal to use these various media channels is that they have the ability adverse and target specific audiences based on desired specifics and allocated budgets. The appeal to the consumers is dependent on the campaign. The campaign towards business owner and entrepreneur consumer audiences appeals towards the various merchant marketing features, fee schedules, payment options, and payment mediums. The campaign towards purchasing consumer audiences from businesses and entrepreneurs should contain ads and messaging towards the convenient lifestyle, ease of use, and reliability of PayPal. PayPal is the faster, more secure way to pay online. It lets you pay for your favorite things at millions of online stores in the U.S. and across the 203 global markets — all without the hassle of converting currency. So it’s easy to know how much you’re spending … Start accepting payments today We make it easy — from creating a shareable link to adding a full-featured checkout to your website. Expand to new channels Sell on social media, charge for services, offer subscriptions, or even fund growth. PayPal has the tools you’re looking for on one, simple platform. Get paid almost everywhere Accept payments online, in a physical storefront, or even on- the-go. Your customers can pay the way they want, quickly and easily. Grow on an all-in-one platform As you reach new milestones, our comprehensive commerce platform has scalable tools designed to grow with you. (paypal. com) Often enough the small business owners will turn to social media and online reviews in articles and video sources as a means to understand more about the PayPal Merchant platform and its benefits. The appeal in messaging should show how easy it is to navigate the merchant platform and process payments with samples of headlines such as “PayPal, working for you” as a means to appeal to how PayPal does a lot of processes for the merchant. Similarly, for consumers the messaging should appeal to the ease of use and the quick and secure payment processes. Its advertising should show consumers accessing the PayPal mobile app to pay using QR codes, sending payments to other users via email/phone number, and/or show payments through use of PayPal’s account linked and secure MasterCard for debit and credit accounts. : PROMOTIONAL MIX & COMMUNICATION CHANNELS
  • 17. 17 CREATIVE EXECUTION Easy to use. Secure payments. All in one. Have it all, with PayPal. With your Business account, you get an entire commerce platform. Call 1-855-456-1330 or visit paypal.com/us/business to get started. PayPal and MasterCard logos are copyright and/or owned by their respective owners and no copyright infringment is intended for this advertisement. Image from unsplash.com. Advertisement by Jason Pancho.
  • 19. 19 In a time as technology rapidly evolves and expands across the globe, PayPal must be ready to position themselves to become an authority in the industry once again. They continue to expand their resources available to their business and consumer audiences but must ensure that their messages of available resources is known. PayPal will need to create campaigns that span across various medias from social media and streaming sources to print publications. Campaigns comprising of static/kinetic images and videos for business owners will need to appeal to the ease of use PayPal point of sale compatible systems, and online store support. They will also need to appeal multiple payment options and secure payment processing in addition to other merchant services including shipping. For consumers, PayPal will need to appeal to their ease of use, ability to do P2P payments, and user security. Regardless of which audience to campaign for, PayPal will have the ability to adjust their marketing according to available resources made for digital advertising such as on social media channels like Facebook and Instagram. Similarly for video content made available according to YouTube, Facebook, Instagram, and even Hulu. Ultimately, PayPal will need to hit the markets before they become another face in the sea of their competitors or worse, be lost in history and lose out to their competitive replacement platforms. THE CONCLUSION: unsplash.com
  • 20. 20 SOURCES 2019 small business trends for millennials. (n.d.). Retrieved February 28, 2021, from https://www.guidantfinancial.com/small-business-trends/ millennial-business-trends/#:~:text=Millennials%20are%20the%20most%20diverse%20group%20of%20small,to%20only%2011%20percent%20 of%20Hispanic%20boomer%20entrepreneurs. 29+ incredible PAYPAL statistics to know in 2020. (2021, January 22). Retrieved February 15, 2021, from https://spendmenot.com/blog/paypal- statistics/ 5 surprising findings About MILLENNIAL small business owners. (2018, November 29). Retrieved February 28, 2021, from https://www.nfib.com/ content/analysis/start-a-business/5-surprising-findings-about-millennial-small-business-owners-71621/ Average small business owner salary. (n.d.). Retrieved February 28, 2021, from https://www.payscale.com/research/US/Job=Small_Business_Owner/ Salary Best, R. (n.d.). Topic: Paypal. Retrieved February 15, 2021, from https://www.statista.com/topics/2411/paypal/#dossierSummary__chapter3 Bhasin, H. (2018, September 27). Marketing strategy of paypal - paypal marketing strategy. Retrieved February 08, 2021, from https://www. marketing91.com/marketing-strategy-paypal/ Bhasin, H., & Virgo, M. (2019, January 28). SWOT analysis of Paypal - Paypal SWOT analysis. Retrieved February 13, 2021, from https://www. marketing91.com/swot-analysis-paypal/#:~:text=High%20Processing%20fees%3A%20PayPal%20has%20high%20processing%20 fees,transactions%3A%20PayPal%20has%20been%20accused%20of%20Withheld%20funds%2C Britannica, T. Editors of Encyclopaedia (2020, October 8). PayPal. Encyclopedia Britannica. https://www.britannica.com/topic/PayPal Business help center. (n.d.). Retrieved February 23, 2021, from https://www.facebook.com/business/help/201828586525529?id=629338044106215&r ef=fbb_budgeting Chris. (2019, September 25). History of paypal. Retrieved February 08, 2021, from https://www.historyofbranding.com/paypal/ Editors, T. (2017, September 26). How much does advertising cost? Retrieved February 23, 2021, from https://www.thumbtack.com/p/advertising- costs THE IMC MARKETING PLAN SOURCES OF :
  • 21. 21 Feldman, S. (2020). Millennials Decoded [PDF]. Unknown: Cargo & Brandthro. How can we help? (n.d.). Retrieved February 08, 2021, from https://www.paypal.com/us/smarthelp/article/What-is-PayPal-Smart-Connect- FAQ1320?_= How can we help? (n.d.). Retrieved February 23, 2021, from https://www.paypal.com/us/smarthelp/article/what-are-the-benefits-of-using-paypal- faq3704 How much does social media advertising cost in 2021? (n.d.). Retrieved February 23, 2021, from https://www.webfx.com/how-much-does-social- media-advertising-cost.html#pinterest How much do youtube ads Cost? [updated 2020]. (2020, July 21). Retrieved February 23, 2021, from https://influencermarketinghub.com/how- much-do-youtube-ads-cost/ Kobliski, K. (2006, January 17). Magazine ads. Retrieved February 23, 2021, from https://www.entrepreneur.com/article/83094#:~:text=Opinions%20 expressed%20by%20Entrepreneur%20contributors%20are%20their%20own.,color%20and%20if%20you%27ve%20negotiated%20a%2- 0multiple-ad%20rate. Krooney. (2020, May 18). PayPal sees a rise in ‘silver tech’ as older generations Test digital payments. Retrieved February 15, 2021, from https://www. cnbc.com/2020/05/18/paypal-sees-a-rise-in-older-generations-trying-digital-payments.html Levy, A. (n.d.). 5 new Paypal products coming in 2021. Retrieved February 08, 2021, from https://www.msn.com/en-us/money/companies/5-new- paypal-products-coming-in-2021/ar-BB1dtfdS Main, K. (2021, January 22). Everything you need to know about tv advertising costs. Retrieved February 23, 2021, from https://fitsmallbusiness.com/ tv-advertising/ Marketing & advertising on LinkedIn: LinkedIn marketing solutions. (n.d.). Retrieved February 23, 2021, from https://business.linkedin.com/ marketing-solutions Msa. (2020, June 11). PayPal mission STATEMENT 2021: PAYPAL Mission & Vision Analysis. Retrieved February 08, 2021, from https:// mission-statement.com/paypal/#:~:text=PayPal%E2%80%99s%20core%20values%20include%20%E2%80%9C%20collaboration%2C%20 demonstrating%20integrity%2C,culture%20as%20this%20is%20what%20determines%20its%20success. MSN. (n.d.). Retrieved February 08, 2021, from https://www.msn.com/en-us/money/stockdetails/fi-a21icw THE IMC MARKETING PLAN SOURCES OF :
  • 22. 22 O’Connell, B. (2019, August 26). History of PayPal: Timeline and facts. Retrieved February 07, 2021, from https://www.thestreet.com/technology/ history-of-paypal-15062744 PayPal profit triples as Pandemic drives continued surge in online payments. (n.d.). Retrieved February 08, 2021, from https://www.msn.com/en-us/ money/companies/paypal-profit-triples-as-pandemic-drives-continued-surge-in-online-payments/ar-BB1dmQUL Prater, M. (n.d.). The 23 best paypal alternatives of 2021. Retrieved February 08, 2021, from https://blog.hubspot.com/sales/paypal-alternatives Products and services - faq. (n.d.). Retrieved February 08, 2021, from https://www.paypal.com/us/smarthelp/topic/PRODUCTS_AND_SERVICES Soffar, H. (2021, January 19). What are the advantages and disadvantages of using PayPal? Retrieved February 13, 2021, from https://www.online- sciences.com/technology/what-are-the-advantages-and-disadvantages-of-using-paypal/ Sope, S. (2018, June 11). Paypal targets millennial shoppers with ‘easy payment’ plans. Retrieved February 08, 2021, from https://www. chicagotribune.com/business/ct-personal-finance-paypal-easy-payment-plans-20160128-story.html Team, M. (2020, April 26). PayPal SWOT ANALYSIS: Top PayPal Competitors, STP & USP: DETAILED SWOT analysis of brands. Retrieved February 13, 2021, from https://www.mbaskool.com/brandguide/banking-and-financial-services/1262-paypal.html The success story of paypal [infographic from play-n-pay]. (2017, August 29). Retrieved February 15, 2021, from https://chargeback.com/success- story-paypal-recap/#:~:text=There%20are%20some%20extreme%20demographic%20with%20in%20PayPal,of%20Generation%20Y%2C%20 X%2C%20and%20Boomers%20use%20PayPal. The many ways PayPal can support your business. (n.d.). Retrieved February 23, 2021, from https://www.paypal.com/us/brc/article/paypal-small- business-payment-solutions Twitter ads targeting. (n.d.). Retrieved February 23, 2021, from https://business.twitter.com/en/advertising/targeting.html Video advertising cost – youtube advertising. (n.d.). Retrieved February 23, 2021, from https://www.youtube.com/ads/pricing/ Works, F. (2020, February 21). Millennial small business owners are a plentiful and profitable audience. Retrieved February 28, 2021, from https:// www.fastcompany.com/90466428/millennial-small-business-owners-are-a-plentiful-and-profitable-audience THE IMC MARKETING PLAN SOURCES OF :