At the start of 2009, Canadians were feeling the effects of the falling stock market, ongoing layoffs, and weak Canadian dollar. The outlook leading into ‘RRSP Season’ – the time of year when financial institutions and the media focus on encouraging Canadians to invest in a registered retirement savings plan (RRSP) was bleak. TD Waterhouse was looking to achieve a strong and positive national and local media presence throughout the RRSP season and to stand out amongst other financial institutions in a highly saturated and competitive market.
Strategy & Execution:
Paradigm developed a unique story angle by applying authentic military-inspired strategies to financial and retirement planning. Paradigm and Patricia Lovett-Reid, Senior VP of TD Waterhouse, partnered with General Rick Hillier, former Chief of the Defence Staff and a special advisor to TD, to create TD RRSP Boot Camp. To kick-off RRSP season Paradigm generated media materials that married Hillier’s top five military strategies with Lovett-Reid’s investing strategies. Media relations was conducted right up until the March 1 RRSP deadline including last minute tips from Hillier and Lovett-Reid.
The initial campaign featured 75 news stories with a total reach of more than 27.5 million. Highlights included Canada AM, Toronto Star, Edmonton Journal, Toronto Sun, 24 Hours and the National Post
A Cormex Report (a third party service that analyzes the effectiveness of communications efforts) evaluating the media coverage from the big six banks showed that TD Waterhouse’s media exposure increased 52% over the previous year’s RRSP campaign
97% of coverage contained a quote from a TD Waterhouse spokesperson, 97% was exclusive to TD Waterhouse