• Home
  • The Awards
  • What it’s all about
  • Our Judges
  • Sponsors
  • Winners Gallery
    • 2019 NZDM Awards Winners
    • 2018 NZDM Award Winners
    • 2017 NZDM Award Winners
    • 2016 NZDM Award Winners
    • 2015 NZDM Award Winners
    • 2014 NZDM Award Winners
    • 2013 NZDM Award Winners
    • 2012 NZDM Award Winners
    • 2011 NZDM Award Winners
    • 2010 NZDM Award Winners
    • 2009 NZDM Award Winners
    • 2008 NZDM Award Winners
Menu
  • Home
  • The Awards
  • What it’s all about
  • Our Judges
  • Sponsors
  • Winners Gallery
    • 2019 NZDM Awards Winners
    • 2018 NZDM Award Winners
    • 2017 NZDM Award Winners
    • 2016 NZDM Award Winners
    • 2015 NZDM Award Winners
    • 2014 NZDM Award Winners
    • 2013 NZDM Award Winners
    • 2012 NZDM Award Winners
    • 2011 NZDM Award Winners
    • 2010 NZDM Award Winners
    • 2009 NZDM Award Winners
    • 2008 NZDM Award Winners

Kiwisaver Doesn’t End at 65

Awards: Industry Silver - Financial Services, Channel Silver - Direct Mail B2C

Entrant: justONE

Nominee: AMP

Entrant Credits: Ben Goodale, Amy Watson, Stuart Hinds, Drew Ayers, Melanie Coventry, Nathalie Philippsen, Will Riley, Kate Cowie

Nominee Credits: Kristin Martin, Mike Loftus, Jeff Ruscoe

Entry Rationale:

The way KiwiSaver works is customers make contributions either directly or via their employer, which are then deducted from their pay and invested in a fund the customer has selected. Provided a customer has been in the KiwiSaver Scheme for five years, they are eligible to draw down their savings at age 65.

A considerable percentage of AMP KiwiSaver Scheme customers withdraw all or part of their investments in the first 12 months after they turn 65, with the majority of these customers likely to be transferring money to the banks.

This is due to a strongly held belief that KiwiSaver Schemes are great for long-term retirement investments but the big banks are the experts at managing your daily banking needs.

To stem the flow of valuable customers moving to the banks, something was needed to change customer perceptions from believing only banks provide better, safer returns, then educate them on AMP’s offer and show how to maximise their savings growth.

It was not an easy task on a shoestring budget and facing fierce competition from the big banks.

Post campaign results indicate a 38.3% reduction in churn. Not only was the flow stemmed, but the flow of the funds was effectively redirected from the banks back to AMP.

Copyright © 2019 Marketing Association

  • CONTACT US