As one of 27 KiwiSaver providers in New Zealand, Fisher Funds competes with major high street banks, all of whom enjoy high brand awareness and massive media spends. At the same time, well-funded newcomers are garnering attention with promises of low fees and great returns, all supported by significant media spends. It’s a tough battleground.
The months leading up to the end of the 2019 KiwiSaver year were a perfect opportunity for Fisher Funds to educate and empower their clients to receive the full benefits of the recently renamed Annual Government Contribution – a $521 free contribution given every year to members who contribute $1,042 to their Kiwisaver retirement account.
Fisher Funds set out to illustrate this in a way their younger KiwiSavers would understand whilst taking a smarter approach that didn’t require them to compete with sledgehammer media spends.
When the campaign was finished, people-based attribution and offline events were used to identify how many users saw or clicked on an ad and went on to voluntarily contribute to their KiwiSaver accounts.
The use of people-based attribution to measure ROAS delivered a service that gave Fisher Funds clear and highly informative insight on optimal media spend. And an omni channel media approach, marrying social media with direct marketing and overlaying people based attribution, directly linked the channels used with specific, significant and measurable business outcomes.
A whopping $11.9m of voluntary contributions were made, all attributable to data-driven email and social media activity, targeted to Fisher Funds clients alone. In turn, an estimated $1.5m of free government money was deposited into New Zealanders' KiwiSaver accounts.