Multimedia infotainment company Terraplanet.com has signed a youth marketing agreement with the Commonwealth Bank of Australia.
Terraplanet.com, which claims its Juice.net web portal has become an accepted "brand" in the youth market, will create online brochures for three of the bank's youth-targeted financial products. Smart Pack, Student Pack and Grad Pack are aimed at young people leaving school, entering tertiary education, and moving from study to work after graduation.
According to Terraplanet's Lisa Bell, the youth-oriented internet company will also provide online solutions, animation and website design for the CBA. Terraplanet's recent share float, Bell added, involved the acquisition of a digital imaging firm, which has enhanced the company's graphic and web design capabilities. The online brochures will appear on the bank's youth-oriented site, http://www.vault.commbank.com.au.
As part of the deal, the bank will also sponsor parts of the Juice.net site for 12 months, involving both advertising and financial support of one of the site's many sections. Neither party is willing to put a dollar value on the arrangement, but Bell ranked it as "reasonably substantial", and stressed that Terraplanet's highest priority was to form a partnership with a like-minded company . . . the first, she hoped, of many. "We see it as the beginning of a long-term relationship with the bank."
According to the CBA's Gary Hardwick, the bank's choice of Terraplanet as partner was based on its perceived success in "talking to young people in their own language". The tangible results of the partnership should appear in the next financial year, said Hardwick, and results would be measured by the amount of new business generated by the "click-through" structure of the online information.