Campaign Report on Creative DM: How I sold my last PEP - Four clients explain how their DM strategies reaped rewards in the race to capture PEP buyers

GORDON MAW, Marketing Manager, Virgin Direct

GORDON MAW, Marketing Manager, Virgin Direct



It was clear early on that the most effective campaign in the first

quarter of 1999 would be one that addressed the high level of confusion

felt by consumers faced with the removal of PEPs and the launch of ISAs,

and had the power to cut through an unprecedented level of noise in the

market.



’Branson’s Guide to PEPs, TESSAs and ISAs’ set the tone as far as

information-based direct marketing was concerned. In total, almost half

a million guides were sent. Packaged in a branded A5 carton - including

an application form for the Virgin PEP (plus an early registration form

for the ISA) - our last PEP direct marketing offering took the form of a

split-screen execution in the new Virgin Direct livery used in press,

posters and TV.



One side of the fold-out mailer was headed, ’If you haven’t got this

year’s PEP sorted, this bit’s for you’, while the ISA side read: ’If

you’ve already sorted your PEP this year, this bit’s for you.’

Accessible, straight-talking information.



While Virgin Direct used below-the-line media such as supermarket and

train-station events for the first time to boost awareness early in the

campaign, the ’rookie of the year’ award went to the internet. When time

had run out for every other course of action, last-minute investors were

downloading applications from our website and ringing us to take

advantage of our free, same-day courier service.



CAROLINE CHRISTOPHER, Client Development Manager, Fidelity

Investments



Every PEP season is a busy time at Fidelity. However, this year was our

most successful to date as consumers rushed to buy their last PEPs.



Direct marketing was a key channel in getting this PEP money through the

door. We concentrated on the theme used by all our competitors - the

last-ever PEP - yet we branded it in Fidelity’s inimitable style.



We mailed a series of packs and postcards, with each mailing targeting a

specific segment of our database.



PEP activity started in January with our ’stocktake’ mailing, which

recently won silver for best direct mailpack in the Money Marketing

awards. The cover illustration showed a busy office environment, with

different clocks showing various times around the world to emphasise the

global significance of investment. While the onus of this mailer was on

encouraging clients to request a PEP pack, the February ’extra, extra,

read all about it’ teaser postcard was a precursor to our main push,

’PEPs - the final countdown.’



The intensive mailer activity culminated in March with the ’last call

for PEPs’ postcard and ensuing ’PEPs. Time to say buy! buy!’ pack. The

pack’s illustration of a busy stockmarket floor mirrored the urgency of

the last days’ push, and such intensive direct activity made the last

PEP season one of the most challenging and rewarding ever.



GRAHAM LEIGH, Marketing Director, b2



The final PEP season was an exceptional business opportunity during

which we continued to capitalise on our brand principles of simplicity

and clarity.



For b2 - which was launched only ten months ago - achieving the right

mix of above- and below-the-line activity (to drive both brand-building

and new-business acquisition) was crucial.



We have strived to differentiate ourselves from what consumers see as an

homogeneous group of PEP providers. Our customer communications have

been designed throughout to appeal to a broader market than the

traditional players and our choice of creative work (which features

Richard E. Grant) generated a very fresh, distinct look and feel which

appeals to young and old, savers and investors, and both beginners and

experts in the financial field.



Such a distinctive look distinguishes b2 from competitive activity in

the marketplace and gives us a head start in our below-the-line

activity.



The instantly recognisable ’sea scape’ covered one whole side of our

mailer’s outer envelope, while the brand’s creative and design elements

continued inside the pack, providing a strong reminder of the

above-the-line work (both television and press).



Combining the accepted rules of direct marketing with our own

distinctive creative approach has been essential to our success over the

past quarter.



Our new-business results indicate that we have got our strategy exactly

right.



STEPHEN ABBOT, Investment Marketing Manager, Legal & General



Campaign recently identified Legal & General as one of the biggest

spenders on PEP advertising. In fact, total spend over the first quarter

of 1999 was around pounds 3 million, and was spread across three key

areas of direct response: press advertising, inserts and, most

significantly, direct mail.



As the final days for PEPs loomed, Legal & General concentrated on

national press advertising to promote three key PEPs: the UK index

tracker, the European index tracker and the corporate bond.



The direct mail included a pack in corporate livery with leaflets

explaining the key features of the PEPs, an excerpt from the Financial

Times, entitled ’The expert’s opinion’ and a straightforward one-sheet

application form. There was also a focus on encouraging people to

transfer their existing PEPs to Legal & General.



The national press strategy was to target the financial sections of the

weekend and daily papers. Activity increased during the final quarter

(January to the end of March) with multiple insertions in the press.

Previous years’ experience had identified this strategy as being the

most effective for gaining PEP customers. Legal & General has found a

mono strategy to be the most cost-effective from a pure direct response

perspective.



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Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).