GOLD
Client: RBC Royal Bank, Toronto
Campaign: RESP Direct Mail
Agency: Allard-Johnson Direct, Toronto
Copywriter: Rick Muldoon
Art Director: Chris Caswell
RESPs (Registered Education Savings Plans) are not easy to understand. In fact, research shows that parents often need to be educated on the resources/benefits available to help them save for their child’s future. That’s why RBC Royal Bank created this program.
Targeting 100,000+ existing bank clients (aged 28 to 49) with children, the bank developed a survey direct mail package designed to correct misconceptions, encourage clients to open new RESPs and increase customer retention and satisfaction.
For returning the completed survey, customers were rewarded with a chance to win $4,000 towards their child’s RESP investment. The package also leveraged the federal government’s Canada Education Savings Grant (CESG) which provides parents with a grant that matches 20% of annual contributions to a maximum of $400 per child per year.
Given the misconceptions surrounding the RESP program, RBC Royal Bank wanted to determine whether a package of in-depth info would be more effective in increasing new RESP activity versus a package that gave a simple overview of the RESP program with a promise of further info. The survey package teaser line highlighted the $4,000 sweepstake, while the information package teaser concentrated on the opportunity to get 20% more for the child’s education.
Customers could also complete the survey online at a customized Web page using a nine-digit personal code provided in the DM package.
The campaign surpassed the targeted response rate with a total of 5% of recipients contributing to an RESP in their child’s name during the three-month period. It also allowed RBC Royal Bank to collect valuable data about its RESP clients.
SILVER
Kraft Canada, Toronto, for its ‘January 2002 CRM Advocacy’ campaign, created by Wunderman & Redwood Custom Communications, both of Toronto
MERIT
Microcell (Fido), Montreal, for the ‘Get to Know Me Better’ program, developed by FCB Direct Canada, Montreal
