About the client company
Bacs Payment Schemes Ltd (Bacs) is a not-for-profit, membership based industry body, owned by 15 of the leading banks and building societies in the UK and Europe. Bacs has been running the clearing and settlement of automated payments in the UK , including the Direct Debit and Bacs Direct Credit schemes since 1968.
Strategy – broader business issues the company is facing
For several years Bacs has carried out a business omnibus to gain insights into SME owners’ eperiences of shouldering late payment related debt. The research findings provide Bacs with material to communicate the extent of the issue, and enhance corporate profile through offering best practice advice to its business audience (including the benefits of using the Bacs Direct Credit payment scheme).
The challenge in 2009/10 was to develop a fresh way of combining the tailored research with a compelling media strategy focused on:
- Taking ‘ownership’ of the growing late payments issue
- Communicating hard hitting findings
- Creating a momentum building ‘customer’ call-to-action
- Building and extending relationships with influential third parties
Objectives of the campaign
Bacs’ business objectives focus on the growth of its automated payment schemes. In support of this wider aim, core campaign objectives were to:
- Strengthen Bacs’ position as champion and advocate for SMEs and position them as an authoritative voice within the UK business community
- Build awareness of the benefits of the Bacs Direct Credit automated payment scheme
- Open doors for dialogue between Bacs and high profile corporate partners
- Drive usage of Bacs automated payments in the SME sector
The target audience
A diverse audience with differing communications requirements:
- UK corporate communicators and key influencers
- UK businesses generally and SMEs specifically
- Business advisers
Target media were identified as:
- Business and SME correspondents for national daily and weekend newspapers and supplements – print and on-line
- Business media – print and on-line
- Vertical industry trade publications
- Regional business publications – print and on-line
- Banking and finance publications – print and on-line
- Business and networking group publications and websites
Media, channels or techniques used
Utilising the omnibus results the campaign consisted of two rounds of targeted media relations activity, taking place in September 2009 and April 2010.
First steps – analysis and review of previous research results. Bacs applied creative thinking to revise past research questions, and generate credible and unique research findings for what is becoming a well covered business issue including identification of core late payment offenders (SMEs v’s large corporates vs public sector).
In both rounds of activity, media were provided with press releases highlighting:
- Key late payment trends – Different news angles were generated as a result of earlier revised research questioning:
– September 2010 – British businesses bear late payment burden of £30 billion
– April 2010 – SMEs are having to wait an average of 41 days longer than their original agreed payment terms, before invoices are paid
- Practical business advice – including the benefits of using automated payment schemes to protect cash flow
Seven campaign releases were written to communicate national, geographic and industry sector findings. Media information, research data and payment tips and FAQ’s were also published on dedicated web pages on the Bacs’ website with a specific URL www.paymedirect.co.uk.
Timescales of the campaign
- April 2009 – review of previous campaign activity and phase one revised research questioning sent to research agency
- June 2009 – phase one research analysis and campaign planning
- September 2009 – phase one media relations activities
- October 2009 – evaluation and review of phase one campaign activity
- November 2009 – phase two revised research questioning sent to research agency
- January 2010 – phase two research questioning analysis and campaign planning
- April 2010 – phase two media relations activities
- May 2010 – phase two evaluation and review of previous campaign activity
Results
The 2009/2010 late payments campaign supported Bacs in taking ‘ownership’ of the growing late payments issue, firmly placing the organisation as an authority on providing up-to-date and reliable research, and enhancing Bacs’ position as a driving force behind the call for change in SMEs business practices.
In total the media relations activity generated:
– 175 pieces of coverage. Including BBC Breakfast Business news, broadcast in April 2010
– Total media circulation 259,656,940 (print 8,777,487, online 249,753,453, broadcast 1,126,000)
– Audience reach of 282,046,482
– With total campaign costs of £15,000, media relations results indicate an impressive cost per thousand ROI figure of 0.05p.
– 100 per cent of coverage positively linked Bacs as an authoritative voice on the late payments issue
– 65 per cent of coverage featured one or more key Bacs Direct Credit product messages
– One in five pieces of coverage featured campaign web link
– 8 per cent rise in paymedirect.co.uk web traffic on previous period 08/09
In addition, development of influential stakeholder links and third party partnerships began in April 2010. The Forum of Private Business was contacted to obtain views and opinions on the issue, resulting in an attributed quote placed in campaign press releases. In addition, partnership working with the Institute of Credit Management who facilitate The Prompt Payment Code, a key initiative designed to encourage and promote best practice between organisations and their suppliers, was initiated and a long term partnership working strategy developed.
Further campaign activity focuses on the use of new online technology to support media relations work and provide ongoing, informative and visually appealing late payments data for both journalists and consumers. This includes the development of an online library of all Bacs’ late payments data, illustrated through a ‘late payments tracker’ graph populated with key trends/findings and press release information. A new Bacs’ late payments microsite was also commissioned in May 2010, to provide a dedicated source of information for all late payments information and a further resource to enhance Bacs’ position of authority on the late payments issue.
Client testimonial
Jayne Stuart, senior manager at Bacs marcomms said, “The Late Payments campaign surpassed all our expectations, and has provided us with a strong platform on which to continue to build our credible reputation in this area.”
