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
1
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