Charles Schwab has launched an online video series that features Chuck himself providing advice to six real people who have made some questionable spending decisions.
The effort, called “Oh, Chuck! I Blew My Cash,” highlights something everyone can relate to: spending too much on an impulse purchase, as opposed to saving and investing for a long-term goal.
The videos are featured on Schwab’s Web site, YouTube channel and Facebook page.
The effort is geared for investors ages 25 and older who are in the life stage of accumulating their assets, said Charles Schwab Chief Marketing Officer Laurine Garrity.
“Our goal with these videos is to develop relationships with young investors early on so we can help them grow and achieve their financial goals,” Garrity tells Marketing Daily. “To appeal to that demographic, we wanted to develop content that’s relatable and entertaining for the social channels that they engage in the most.”
The “Oh Chuck!” series also includes a contest element where consumers can contribute stories about how they “blew their cash” to win a $10,000 Schwab account. The contest is featured on Schwab’s Facebook page.
Following the contest, the videos will continue to be available on Schwab’s social channels, including their YouTube and Facebook profiles.
This video series is the latest of Schwab’s endeavors to create video content designed for social media. The company previously launched a six-part light-hearted money news recap called “60 Seconds in Money.”
“Online and social engagement are key parts of our marketing strategy and something that we at Schwab see as only continuing to grow,” Garrity says.
The Oh Chuck! series is in line with the company’s efforts to “educate Americans on good financial habits and the importance of being honest with ourselves and with advisors about what we really do with our money,” she says. “One of the ways we can encourage that type of honesty is by using humor to remove the stigma of making financial mistakes.”