Successfully Launching a Public Awareness Campaign
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Transcript Successfully Launching a Public Awareness Campaign
Successfully Launching A
Public Awareness Campaign
Agenda
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Assessing The Need And Identifying Objectives
Setting Funding Targets
Gaining Initial Support
Selecting An Agency Partner
Fact-based Feasibility Planning
Identifying The Target
Selecting A Positioning
Developing Creative
Planning Media
Establishing and Tracking Success
Gaining Stakeholder Support And Extending the
Campaign
Assessing The Need And
Identifying Objectives
The Mission Position
CFP Board’s Mission Is:
“To benefit the public by granting the CFP®
certification and upholding it as the recognized
standard of excellence for competent and ethical
personal financial planning.”
Establishing The Need
■ What does your base want and need?
■ Stakeholder needs identified through two years
of quantitative surveys
□ Public awareness rated of highest importance
□ Organizational effectiveness in delivering public
awareness rated lowest
■ Need identified in face-to-face town hall forums
■ And identified in stakeholder focus groups
Setting The Goal
■ Measurable goal setting is important
■ CFP Board initial goal:
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Increase awareness of
Preference for
And intent to use
CERTIFIED FINANCIAL PLANNER™
professionals
The Mandate To Act
■ Initial quantitative gave indications of support
■ Online survey of stakeholders
□ Do you believe a campaign sponsored by CFP
Board is needed? (94.2%)
□ How likely would you be to support a CFP
Board sponsored public awareness campaign?
(94.8%)
Setting Funding Targets
Projectable Findings: Priceless
■ Quantification of need and willingness to pay
extremely important
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State-of-the-art research methodology
Telephone interviews with 229 certificants
Seven call-backs minimized non-response bias
+/- 4.6% at the 95% confidence level
At $12 The Price Was Right
$5
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$12
$22
$50
Range of acceptable monthly increase $5-$50
$12 maximized perceived value of program
$12 supported by 72% of all certificants
Majority of remainder generally supportive
3% to 5% not supportive
Other Funding Plan Inputs
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Board meeting discussions
Board member input
Finance and Investment Committee calls
Finance and Investment Committee meetings
Gaining Initial Support
Stakeholder Communications
■ Strategy
□ No surprises
□ A steady stream of news
□ Update Vehicles
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Email
Blogs
Earned Media
Webinars
Website Content
Every reply answered
Supporters identified
Detractors neutralized via individual contact
Social media
Media Coverage
Key Themes Reported To Board
Opposed
Supporting
No fee increase in slow
economy
Survey results do not
reflect views of CFP
Board’s “membership”
CFP Board is “inside the
Beltway” and “out of
touch”
CFP Board should use
reserves
FPA should promote
financial planning
Campaign needed to
erase the “negative”
stigma from financial
scandals
It’s about time
Campaign will help
consumers understand
the value of the CFP®
mark
Campaign will increase
value of my investment
in certification
Selecting An Agency Partner
Agency Search Process
■ Startup Phase
□ Agency search consultant
□ Agency scope of work identification
□ Need for confidentiality
■ Subsequent Phases included
□ Questionnaire Phase
□ Finalist Phase
Questionnaire Phase
■ Identify what’s important
■ CFP Board decision criteria
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Geography: within driving distance of Washington
Communication effectiveness and chemistry
Strategic ability and insights
Creative ability
Agency service offerings and strengths
Consumer-facing and/or financial category
experience
Experience of personnel assigned to the account
Agency size, account mix and financial strength
Agency operations and processes
Costs
Competitive conflicts
Finalists Phase
■ Finalist Phase
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Agency briefing
Agency presentations
Agency tours
Decision making process
Compensation negotiation
Agency selection
Communications
Fact-based Feasibility Planning
Feasibility Research
■ Qualitative Focus Groups
■ Quantitative Survey determined
Consumer awareness and perceptions
The ability of specific messages to impact
interest in CFP® professionals
The messages that most influenced increased
interest
The ideal target audience for messaging
■ Agency assessment of ability to impact
awareness at estimated budget level
More Awareness = More Interest
The more prospects learned, the more interested
they became in seeking out a CFP® professional
60%
Likelihood To Consider CFP®
Professional In Next 2 Yrs
40%
7%
20%
0%
4%
10%
Pre
60%
Working With CFP® Professional
Appropriate For Someone Like Me
Extremely
Likely
40%
Very Likely
20%
26%
0%
6%
39%
17%
Post
Pre
13%
Post
= Significantly higher than other group at the 90% confidence level.
Agree
Somewhat
Agree
Totally
Identifying The Target
Hitting The Bulls Eye
■ Targeting strategy research-based on both
demographics and psychographics
■ Demographic Target
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Investable assets $100k – $1 million with
message spill to $1 million plus
Age 35-64 with message spill into younger and
older age groups
Mindset Is The Key Predictor
■ Those most likely to seek out a CFP®
professional significantly more likely to:
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Trust experts
Prefer to work as part of a team
Be responsible and practical
Think managing their finances is complex and
time consuming
Custom Target Created
“Mass Affluent Initiators”
Mass Affluent Initiator Target
35-64
14M
35-64
(6% US Adults)
14M35-64
(6% US
Adults)
14M
Source: 2009 Simmons Fall Study
Selecting A Positioning
Messages Tested For Impact
■ Requirements tested
□ Ethics, education, exam, experience, enforcement
■ And nine positioning statements
□ A Certified Financial Planner™ professional provides
a comprehensive evaluation of my financial situation
□ A Certified Financial Planner™ professional must
meet rigorous requirements to get and maintain
certification
□ Working with Certified Financial Planner makes you
feel confident you’re getting competent and credible
advice
□ And more
Optimal Message Mix
This hierarchy of messages was most
compelling influencing 57% of prospects
Key Benefits
• Comprehensive Evaluations
• Planning Focus
Key Support
Point
• Ethics
From Mix to Positioning
PlanningFocus
Comprehensive
Evaluations
Ethics
Positioning Idea
Positioning Statement
If you need your whole financial life pulled together,
a CERTIFIED FINANCIAL PLANNER™ professional is
uniquely qualified to help.
Developing Creative
Creative Strategy
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Research based
Consumer tested
Consumer centric
Communicates the positioning
Stands out from the sameness of financial
advertising
■ Attracts attention using a unique graphic
approach
“Let’s Make a Plan”
New Certification Mark
New Certification Mark
36
Television Spot
Online Banner Ads
Creative Testing
■ “Let’s Make a Plan” well-received and
motivating
■ Consumer take away matched positioning
statement
■ Message resonated on two levels
□ “I don’t have anyone in my life helping me do
that.”
□ “I could use one person looking at the whole big
picture.”
Planning Media
Media Plan
35-64
14M
(6% US
Adults)
35-64
■ Research and target-based
■ Media habits of Mass Affluent Initiator Target
key element of media plan
Media Mix
NPR
7%
Television
37%
Online
42%
Print
21%
Cable Networks
ENTERTAINMENT/LIFESTYLE
NEWS
Print Properties
MAGAZINES
NEWSPAPER
Online Properties
2011 Advertising Schedule
■ Targeted both demographics and the Mass
Affluent Initiator mindset
■ Launched with a quarter of TV for immediate
impact
■ Contained continuous support in magazines
and online
■ 86% of target reached
Establishing and Tracking
Success
Measuring Awareness Results
■ Focus on measurable goals
■ Progress measured by:
□ Annual Brand Tracking Studies
□ Cross Media Study
■ Other metrics monitored for improvement
□ Website metrics
□ Searches
□ Post media buy analyses
Specific Success Metrics
■ Based on initially stated objectives
■ Heavy agency involvement
■ Focused on the key goal – awareness
Total Awareness Of
Financial Planning Designations
Goal: Awareness Increase of 4 points
95
75
Total Brand Awareness (%)
27
19
Unaided
26
22
21
12
6
CFP
CPA
CFA
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1
0
CLU
ChFC
PFS
Online survey of 600 US residents conducted in March-April 2011 who have not worked with a financial planner in the past 10 years and who:
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Are at least 35 years old and employed or retired
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Completed at least some post-secondary education
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Are primary household financial decision makers or who share decision-making
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Have investible assets of at least $100,000 and a household income of at least $125,000 per year
Results To Date
Awareness
Preference
Intent
Cross Media Study
■ Marketing effectiveness analysis completed
Return on marketing objectives
Media optimization
■ Methodology
6000+ interviews
Fielded over 16 weeks 4/18-8/7
■ Vendor: Marketing Evolution
Approach praised by industry organizations
Advertising Research Foundation
Coalition for Innovative Media Measurement
Based On Opportunity To See
Exposed Respondent
Control Respondent
Print issue
containing
our ad
None of the above
None of the above
CFP® Scorecard
Significant lift
CFP®
Professionals
CFP®
Designation
Campaign Objective
Top of Mind Awareness
Total Unaided Awareness
Top of Mind Awareness
Total Unaided Awareness
CFP®
Total Awareness
Brand Perceptions
Intent to Consider using a CFP®
Professional
Intent to recommend a CFP®
Professional
Television
Online
Directionally positive
Print
Negative drop
Wall Street
Journal
Difference Over Time
Total Mass Affluent Week 1 vs. Week 16
80
70
60
50
40
30
20
10
0
+8**
+6*
+2
** increase significant at 90% confidence level
* Increase significant at 80% confidence level
+8**
+6**
+6**
Overall Opinion
“Traditionally it is very difficult to change what
consumers believe is important about a
particular ‘product.’ Therefore it is compelling
to see such positive results from a campaign of
such a low spend and frequency.”
Sue Davidson
EVP, Managing Director, Marketing Evolution
Gaining Stakeholder Support
And Extending the Campaign
Rolling Out The Campaign
■ No surprises strategy
■ A steady stream of news about launch
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Emails
Formal Letter
Website
Earned Media
Webinars for Board and Stakeholders
Every question answered
Adding Stakeholder Value
■ Updated search function for those who
□ Provided additional information
□ Indicated they are a practicing financial planner
□ Indicated they are accepting new clients
■ New search
□ Matched consumers with the type of planner
they wanted
□ Served up those most likely to fulfill advertising
“promise”
Encouraging Participation
Log into your CFP Board account at
www.CFP.net/login
Tools for Stakeholders
■ Online Toolkit
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Research
Advertising Materials
Media Schedule
Brochures
Certification Mark Art and Guidelines
■ Easy to access www.CFP.net/toolkit
Process Review
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Assessing The Need And Identifying Objectives
Setting Funding Targets
Gaining Initial Support
Selecting An Agency Partner
Fact-based Feasibility Planning
Identifying The Target
Selecting A Positioning
Developing Creative
Planning Media
Establishing and Tracking Success
Gaining Stakeholder Support And Extending the
Campaign
Q&A