Altamira – RRSP Campaign
Altamira was a well-known mutual fund brand acquired by National Bank Financial in 2002. It had assets under management of approximately $3.6 billion in 2003
Industry
— Financial services
— Asset management
Branding to
— Grow marketshare
— Gain share of wallet
— Articulate value
Services
— Advertising & promotion
— Marketing collateral design
— Direct marketing
— Digital marketing & content
The Situation
Altamira had been recently acquired by one of Canada’s top six banks, National Bank who wanted to stop the steady decline the brand had been experiencing for several years. While the mutual fund industry had increased AUM by 260%, Altamira had declined by 68% with continued growth in redemptions. Moreover, consumer utilization of their RRSP space had been steadily declining from 14% in the early nineties to 7% by the mid 2000’s. Altamira wanted to use RRSP season as a tactical campaign period to turn the ship around.
Human catalyst
Consumers think they will have enough savings when it comes to retirement but many are sadly mistaken.
The Solution
Yield leveraged the powerful social insight that people think they’ll have enough money to retire. By the time they figure out they’re wrong, it’s too late and they have to go back to work.
Altamira had very tight budgets, less than $1,000,000, where competitors regularly spent $5-10 million so they needed to generate maximum impact for each exposure.
Yield developed a powerful brand strategy and creative idea “You shouldn’t have to work your whole life to end up back in your first job” to vividly demonstrated peoples’ unpreparedness and then pushed the concept out through tactical advertising in newspaper, radio, OOH, in-branch, collateral and digital marketing channels.
The Yield
RRSP contributions in Canada increased 133% 0ver the previous year.
AUM increased by a billion dollars in Q1 vs. Q1 the previous year.
16.2% of inactive clients reactivated resulting in a 30% increase in deposits.
Yield Branding generated huge earned media attention on national networks, local TV, local radio and with associations for the elderly (CARP)