National Treasury set out to encourage the uptake of RSA Retail Savings Bonds
Thu, Nov 5th, 2009 12:00:00 am
When the National Treasury set out to encourage the uptake of RSA Retail Savings Bonds, it had no idea just how successful its radio campaign would be, effectively increasing savings from R150million monthly to a record R600million within 90 days.
To encourage households to start saving alongside business and government, the National Treasury developed a retail bond that offers guaranteed returns, can be bought for as little as R1000 and carries no commission, agency or service fees.
The simplicity and reliability of the bonds are hoped to lead, over time, to deeper levels of financial and economic literacy in South Africa as a whole, stimulating a savings culture and encouraging economic maturity.
Targeting 11 million South Africans in LSM 4-9, the treasury’s challenges include how to reach and communicate the savings message throughout South Africa, attract a broader base of investors (younger investors) and change non-savers into savers.
RadMark portfolio manager Tsatsi Rankapole says: “The client invested in interactive radio campaign packages that included generics, infomercials, website, interviews and live reads, all on four of media marketing solutions provider RadMark’s powerhouse brands PowerHouseBrands - East Coast Radio, Heart 104.9FM, Jacaranda 94.2 and KAYA FM.”
In a letter of thanks, the Communications Specialist in the office of the Director General (Ministry Of Finance), said: “On behalf of the National Treasury and the National Government I would like to say thank you very much for all the hard work that all the stations put in.
“The campaign was a great success and we exceeded all expectations. In July and August we have seen phenomenal growth in investments as well as in the number of people investing. We would like to utilise RadMark’s radio platform to the maximum in the future and once again get South Africans to start saving.”
Rankapole believes more government departments need to engage with the radio stations and align their communications strategies with the multi-platform opportunities that are available: “It is important that government departments remain relevant to the public as their most important stakeholder. Regional radio stations have demonstrated that they deliver results even under these tough economic conditions.”
|
