The financial services category is crowded and noisy with banks and credit unions fighting for market share by trying to differentiate themselves largely through product and service offerings. In late 2018, Tandia was in a deficit deposit growth position at year-end and had to find a way to turn it around. For 2019, Tandia was challenged with a record-breaking deposit growth goal For the year to help fund aggressive lending growth targets as well. Tandia regularly runs deposit campaigns designed to support acquisition of new money on deposit from both current and new members. As campaign planning was underway, shorter term fixed rates on deposits in excess of 3% had been unheard of in recent years and were beginning to pop up in the marketplace. There had also been a recent stock-market dip and consumers who may have been shaken by it might be swayed to secure a bigger portion of their long-term savings in a guaranteed, no-risk, shorter term product at an attractive rate. We had to find a way to cut through the noise of our competitors and accomplish our aggressive growth target, our most challenging ever. Working with our creative partners The Township, a series of compelling headlines were created, with simple, impactful messages and on-brand graphics that spoke to the products, answering the need and an eye-catching rate. The campaign started in early January 2019 with a run date until March 31, 2019. The key objectives were to aid in achieving budgeted Deposit growth for 2019 and to increase awareness of Tandia in the marketplace. The scale of the goal called for all available marketing tactics including sonic, print and digital to be employed in a complimentary and coordinated fashion. Media channels had to reach both existing members and the communities in which we have branches. External media chosen to appeal to both existing and potential members included radio, digital billboards, digital programmatic display Search SEM and a campaign landing page. For in-branch, we had posters, animated digital display ads and postcard take-aways. By March 31, net deposit growth for Tandia was at an impressive 124% of our goal for the year and 244% of our first quarter goal. In addition, 90% of the growth was represented in new TFSA, RRSP and Term Deposits.
