Self-Employed Debt Relief Media Plan
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The document provides information and recommendations for developing a direct marketing media plan to target the self-employed market. It analyzes data on the size and characteristics of the self-employed population in the UK. Recommendations include using social media like Facebook and LinkedIn, Google Adwords, website content, videos, forums, email marketing and direct mail to engage the target audience. The plan suggests tailoring messages and channels to specific trades or issues self-employed individuals face. Overall the document scopes the opportunity in the self-employed debt market and provides a comprehensive direct marketing strategy to effectively reach this audience.
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Self-Employed Debt Relief Media Plan
- 2. PAGE2 MIKE SUTCLIFFE Brief Create a media plan to target the self-employed market using direct marketing • Research / scope size of opportunity • Show examples of advertising • Explanation of chosen media for target audience STAGES The service offerings…
- 3. PAGE3 MIKE SUTCLIFFE Debt Free Direct What are the service offerings? • IVA/CVA • Bankruptcy • Debt management plans • Money saving services
- 4. PAGE4 MIKE SUTCLIFFE Audience Analysis & Opportunity - Taxi driver top job in London!
- 5. PAGE5 MIKE SUTCLIFFE Self-employed definition • Self-employed - very heterogeneous group; • Entrepreneurs, small business proprietors, freelancers, subcontractors, partnerships + sole-traders (construction industry scheme (CIS) workers, buy-to-let landlords) • Diverse reasons for becoming self-employed; • Opportunity entrepreneurs • Lifestyle self-employed, • Necessity entrepreneurs (inability to secure employment) 83.2% work on own or with a partner Is it a growing marketing…
- 6. PAGE6 MIKE SUTCLIFFE Self employed vs employees Employees VS Self-employed 4.46m workers* Age 47 years (avg) 70% -75% male 38 hr week (avg) 35% work 45-60+ hrs Income 5% below 2008 (avg) Income 10% above 2008 (avg) 25.49m workers Age 40 years (avg) 51% male 36 hr week (avg) 22% work 45-60+ hrs • Apr-Jun 2013 – 304,000 self-employed second job (less than 1%) What is their earning potential…
- 7. PAGE7 MIKE SUTCLIFFE Demographics • Self-employed highest ever – looks set to rise gradually (RBS) • 14.5% of UK workforce self-employed – predict 13-19% until 2019 (RBS) • 573,000 increase since 2008 (1 in 6) • Self-employment currently growing faster than employee market • 60% rise in last 18 months Government policy Unemployment rate • 90% self-employment as main job – Less likely to work full time hrs Salaries likely to be low RBS prediction 1962-2019 Self-employed 1992-2013 How do they compare to employees…
- 8. PAGE8 MIKE SUTCLIFFE Salary & Earnings Earning 1999 - 2011 Salary 1999 - 2011 Who is fuelling the growth…
- 9. PAGE9 MIKE SUTCLIFFE Growth of sector • 5 in 6 workers since 2008 are 50+ (84% increase ) • 50+ age group accounts for 72% of ALL self-employed • Find initial start-ups costs easier – redundancy & savings Is this through choice? Struggle to get re-employed? • Increase in disabled people & minority ethnic groups 5% 10% 15% 19% 37% 16-24 25-34 35-49 50-64 65+ Age % of self-employed workers taken Q3 2012 Which regions are best to target…
- 10. PAGE10 MIKE SUTCLIFFE Regions • London highest percentage of self- employed 18% - lowest North East 11% 9.5%-10% of NE unemployed • Self-employment highest in regions that that best weathered 2008 crisis • Also highest in regions where house prices have been most resilient (London/East Midlands) • 58% rely on family home for work *Percentage of each region What are the top self-employed trades…
- 11. PAGE11 MIKE SUTCLIFFE Occupations • Little change in top self-employed occupations for 20 years • Self-employment sectors have risen in line with employee sectors • 33-37% increase in personal services and administration (low skilled) • Concerns in many sectors that new self-employed occupations aren’t as productive/profitable as traditional Top professions 2013 166,000 161,000 140,000 123,000 *Main income Which trades are worth targeting…
- 12. PAGE12 MIKE SUTCLIFFE Occupations overview • Largest occupational growth areas between 2012-2013; Specialised construction & servicing – moderate-well paid/on-job training Scientific – moderate-well paid/degree Education – moderate-well paid/degree Landscaping (gardeners) – low paid/low skilled Property – moderate paid/low skilled Administration – low paid/low skilled ICT (Info technology) - moderate paid/degree • Occupations worse hit during crisis 2008; Construction – 20 % decline Banking, finance & insurance Deliver drivers – 30% decline Residential & commercial cleaning Farmers – 20% decline Specific trades worth targeting first….
- 13. PAGE13 MIKE SUTCLIFFE Job category 2012 survival rate Share of self employment in total Growth in self employment since 2008 Production 87.0 11.0% 10.4% Construction 86.2 34.7% -3.2% Wholesale, retail & motor repair 91.1 9.6% 0.0% Transport & storage 90.3 14.6% 17.8% Accommodation / food services 86.3 9.9% 3.3% Information & communication 91.6 15.1% 26.1% Finance & insurance 79.3 4.1% 56.1% Property 85.0 21.8% 6.9% Professional; scientific & technical 88.7 24.7% 8.6% Administration & support services 73.3 18.3% 21.0% Education 91.7 4.7% 40.5% Health 91.2 6.9% 18.8% Art; entertainment & recreation 81.6 28.3% 9.1% Occupations
- 14. PAGE14 MIKE SUTCLIFFE Skills & Education • No qualifications – more likely to be self-employed • Higher education – equals a greater success rate Occupations that require degree level education maybe not best to target • Studying – more likely to be studying toward qualifications • Previous spells of self-employment contribute to success • Previous unemployment can damage chances of survival
- 15. PAGE15 MIKE SUTCLIFFE Failure • 82% survival rate of new businesses 2012 • 13% fail in first year 2014 Usually reach maximum indebtedness 3-6 months after start-up • Most people fail because they run out of money Lack of fundamental business knowledge Cash flow & financial management, Marketing & winning business General business management What do they all have in common….
- 16. PAGE16 MIKE SUTCLIFFE Commonalities The self-employment market is very fragmented. The needs of a hairdresser are very different to those of a plumber – therefore it’s important to find commonalities File tax returns Register self-employed (first 3 months) Promote services Telephone & broadband Business bank account Insurance (health, property & casualty, liability, C&E, auto, life, keyman, business interuption) Personality traits of audience….
- 17. PAGE17 MIKE SUTCLIFFE Know your audience
- 18. PAGE18 MIKE SUTCLIFFE Know your audience* 7% of UK males 45-65 are resistant to brands Currently most interested activities online UK Future growth area Financial sector audience profile
- 19. PAGE19 MIKE SUTCLIFFE Calculations • Companies often make £5,000 from an IVA - Martin Lewis & Jennifer Bailey Nominee fee = £2,500 Supervisor fee = £1,000 per year for period IVA lasts Potential self-employed debt market value £5,000 x 9,542 = 47m a year *Average of self employment per year over last 5 years / first year failure rate
- 21. PAGE21 MIKE SUTCLIFFE My approach • Use data & analytics for insights • Project ROI of each campaign • KPI’s • Track & measure everything • Review & test… repeatedly! Type of marketing for the brief…
- 22. PAGE22 MIKE SUTCLIFFE What is Direct Marketing (DM) • “Direct marketing is just that: direct. It's talking to, or with, specific, targeted customers - with relevancy… a virtuous cycle of gathering and using customer data to improve communications… direct marketing is multichannel” Ginger Conlan - Direct Marketing News • “Directly reaching a market (customers and potential customers) on a personal (phone calls, mailings) basis, or mass-media basis (infomercials, magazine ads)” Lahle Wolfe - LAWolfe Marketing • Direct marketing is only as good as the segmented list you’re targeting Marketing restrictions…
- 23. PAGE23 MIKE SUTCLIFFE Advertising • A lot of regulations on Direct Marketing from OFT – x3 96 page documents Can’t send unfair and/or improper marketing Advertising must be clear, accurate and truthful - No exaggerated claims State what personal data will be used for and why Send or instigate electronic mail without prior consent Imply advice provided is free Stating advantages without stating disadvantages Any advice given needs to be licensed • Incentives – IVA.com £50 (2008) is frowned upon Social is key, but…
- 24. PAGE24 MIKE SUTCLIFFE Branding Happy, feel good, lifestyle • Interaction, comments, likes are always going to be difficult with this target audience / service • Split personality brand, colours, fonts • Develop trust in brand • Fix this before marketing! • Maybe have strapline under main logo – use strapline on social? OR Creating a sub brand for self-employment I recommend…
- 25. PAGE25 MIKE SUTCLIFFE Facebook • Custom audiences • Upload CSV database/leads of email addresses & phone numbers • Advertise directly to target audience • Targeted advertising news feed • Target specific demographics; location, gender, age, likes, interests, relationship status, workplace and education • Quick search = 20,000 targets found • Lookalike audiences • Find 1-5% of people UK who are most similar to custom audience Other social channels…
- 26. PAGE26 MIKE SUTCLIFFE Social - Twitter, LinkedIn • Promoted Tweets in timelines – CPE basis • Create customisable targeting database • Promoted tweets to non-followers – extend reach • Promote in search – relevant topics (3-5% ER rates) • Target keywords in timeline, interest, geography, gender, similarity to existing followers • 15,000 tweets per month self employment market • LinkedIn PPC • Target ads on; location, company name, industry, size, job title, skills, groups, gender and age • Groups - The secret of self employment viewed by 34,483 Other social tools…
- 27. PAGE27 MIKE SUTCLIFFE PPC – Ads, Remarketing • Remarket to self-employed who visit the site or perform an action on a page using PPC • Take advantage of all your site traffic • Pre-qualified since they’ve already shown an interest • Reminds / encourages to come back • Advertise on relevant websites, blogs, forums • Click to Call (Google Adwords) • Add Phone number to Ads on mobile • Improves CTR by 6-8% • Affiliate banner advertising Examples…
- 28. PAGE28 MIKE SUTCLIFFE PPC Ideas Destination of click…
- 29. PAGE29 MIKE SUTCLIFFE Website - Landing Page(s) • Create landing page(s) • Highly targeted to trades / issues • Debt map, calculator (see right) • Form to capture details • Human element (not stock images) audience responds better to friends not businesses • Add Video • Begin a cycle of regular keyword rich content publishing (SEO) This leads into…
- 30. PAGE30 MIKE SUTCLIFFE Content • Produce self help guides; impartial advice, articles • Dealing with business debt, tips on recruiting, insurance, mortgage advice, pension relief • Downloadable – form > ask for details before downloading • Publish on website; PR (influencers/news) WAIT > social > email • Content • Give snippets of info – enough to hook them, download to read rest OR • Build an App • Download app to read content – build database • Plant flag and secure branded keywords/channel for future • Push notifications for new content/reminders Engage them with…
- 31. PAGE31 MIKE SUTCLIFFE Video • Advertise on Youtube and Training/educational videos • In-stream advertising before watching • Debt consolidation for the self employed – 13 views • Self employed debt risk – 23 views • Debt problems self employed – 9 views • Or, display banner ads above search results • Produce and display relevant videos / give webinars featuring self employed people who have made it Build you own target audience…
- 32. PAGE32 MIKE SUTCLIFFE Forum • Build a community • Drives traffic • Great for SEO • Repeat visitors • Ready made target audience / keep in regular contact • An avenue for people who are not ready to acknowledge there is/or might be a future problem • To people in similar position / impartial advice / anonymous Promote your own brand by…
- 33. PAGE33 MIKE SUTCLIFFE Seeding • Use seeding to weave into the fabric of digital channels • Identify sites where self-employed regular engage • Setup profile ‘personas’ on sites • Actively read / impartially comment • Use different locations (IPs) and profiles • Should look as if done by ‘real’ people • Push your company before someone pushes a competitors • Great aid for SEO through linking Directly contact target audience by…
- 34. PAGE34 MIKE SUTCLIFFE Email – Bulk & Behavioural • 43% of 50+ age group prefer email - most trusted channel • Less intrusive, can emotionally unsubscribe if want to • Signup to receive email on website/landing pages • Be honest – how will their data be used? • How often will you send mail? • Send relevant/ content based, timely emails • Dynamic content • Triggered emails • Take reminder details – when to file tax returns, when to insurance renewals, etc • Behavioural emails A twist on more traditional channels…
- 35. PAGE35 MIKE SUTCLIFFE Radio - Digital • 58% of UK trust radio advertising / 20% listen at work • 20% visited a website afterwards / 6% called • Ideal for trades = joiner, construction, farmer, taxi driver • Advertising via digital radio • Advertise across lots of radio stations • Serve ads based on precision targeting; browsing history, geo-location, organisation • Tap into at-work audience (TargetSpot)
- 36. PAGE36 MIKE SUTCLIFFE Personalised Direct Mail • Use Royal Mail to create mailing list/database • Create deep / detailed info about people, places, age, gender, income, interests, homes, businesses • Almost as likely to be persuaded by traditional marketing as new • Topic – Top Tips to avoid debt, money advice, etc • Personalised content and CTAs • PURLs john.smith@debtfreedirect.com, first name, telephone numbers, personalised landing for users • 5% conversion increase (adestra) Other print opportunities…
- 38. PAGE38 MIKE SUTCLIFFE Print – Magazines, Press, Leaflets • Display advertising in local press, trade magazines • Farmers, hairdressers, plumbing & electrical • Advertorials - DFD helped local business through tough times • Don’t focus on debt • Printed literature • Send posters, leaflets - debt charities • Citizens Advice Bureau, landlords (Regis)? • Events? Finally…
- 39. PAGE39 MIKE SUTCLIFFE QUESTIONS & NEXT STEPS By Mike Sutcliffe enquiries@michaelsutcliffe.co.uk
Notes de l'éditeur
- Thank you for your time – I’ll try and make it worth whilte Not sure how long I have for presentation – speed up give me a shout
- Difficult brief > but equally interesting + challengingMost difficult brief so far Fragmented group, different wants / needs > how do you find them, never mind market to them? Scoping opportunity in depth / marketing recommendation
- Individual/Company voluntary arrangement DFD Biggest revenue drivers in order (Andrew Haines) Presume business and personal debt?
- Scoping opportunity size
- Who are self-employed peopleHetro gene ous = diverse in character or content Many freelancers form a LTD business Opportunity = spotted a niche (20%) Lifestyle = self-goverance (autonomy), flexibilityObviously appealing to women with children, sustaining themselves rather than growth Necessity = lack of alternatives (less likely to be found in high growth sectors) Others because it is the norm in their chosen profession
- Figure skewed by re-hiring ex-employees on freelance contracts (unions) Average age is higher – financial reasons, experience in sector? 80% increase in women between 2008–2012. 2012 -2014 usual levels of menWomen family reasons / Men financial or redundancy 2008 – 2012 = 573,000 increase 2011 – 2012 = 219,000 increase 2013 – 2014 = 150,000 increase (so far)
- Self-employed main job rose 367,000 = 2008-2012 (since downturn)Increase 573,000 since 2008 (average 81,857 over last 7 years) ONS Media = rise down to unemployment levels and government policy (RBS concerned) Increase part-time self employment / lack of work – more likely struggling? Last 12 months; 273,000 employees, 150,000 self-employed = 38% of UK workers (ONS)
- Lots of similar graphs Green/Purple line = self-employment Blue = earnings CPI – consumer price index
- Silver self-employed Increase2012 = 50+ 56% 2014 = 72% Now (16% rise)
- Cross reference house price index with self employed groups? Home or Office self-employed – which worst trouble? Cross reference work addresses with home addresses for businesses? Does area - lowest percentage - suggest struggling with debt?
- Because employee sectors have risen in line with employee sectors – easy to find growth sectors? Target new self employed sectors? More in debt 2% of all self-employed = farmers, carpenters, construction or taxi drivers (taxi drivers biggest sector in London)
- Top 3 represent biggest increases % wise – these occupations require experience or higher education Targeting smaller growth areas = both low paid + low skilled ONS states increase in managers/professionals going self-employed Newly self employed have higher skills, on average - next slide Zero capital startups – (strugglers) - delivery driver, eBay store, gardener, childcare, cleaning Figures by ONS and Jamie Jenkins (Labour Market Analyst)
- *Not sure whether you take this as gospel with RBS these days!Grouped some categories together Areas worth targeting – low survival rate + huge growth = finance & Insurance + admin Construction for it’s market share of the self-employment market doesn’t have the best survival rate Question = occupations are declining over a long period of time? Question = businesses sub-contracted workers? – easier to target
- *UKCES – UK commission for employment and skills Education = success levels. Lots to back this up other countries Cultural factors and family backgrounds also improve success rate Newly self employed = higher skills, on average. Unlike the rise between 2001-2007
- *Stats from RBS/ONS Survival rates;2007 = 96.5%2010 = 86.7%2014 = 82% - decreasing at a rapid rate! 33% of self-employed who visited CAB in Q1 2014 received debt advice
- Original concept - scrape Companies House monthly (previous success accountants - targeting new business) Questions = how many self employed people are LTD? How many go LTD each year? 2004 = 35,000 a year Target companies filing late tax returns? Insurance sites = PPC advertising?
- *TNS digital life insights – profile audiences on internet There are many different types; Influencers, communicators, knowledge seekers, functionals, networkers Target audience (most common)= FUNCTIONALS Not interested in putting social life online, worried about privacy / security Is social media right?
- Currently no videos on the site?
- Conclusion – very profitable market – difficult to interact with / target 5% of market is 2.3m Guess workDFD conversion rate of leads (PPI is 25% of leads convert) Used to 1,000 of leads – Are 50 warm leads good?Response rate of marketingAOV per leadMarket share of business / competitors Difficult without inside knowledge of business Lots of PAID FOR research available – no accessResearch = contradictoryFigures = didn’t add up to 100% Now I know who I am targeting / how to find them > marketing recommendations
- My thoughts – small, HIGHLY targeted (fragmented) campaigns for each tradeChosen areas I feel give ROI – LOW COST, QUICK, MEASURABLE Hook each trade independently Catch all for the left overs?
- Analytics - multiple channels Decide on KPIs beforehand / what are we classing as success / timeframes of success? many businesses miss this What does the customer want? Current business confused between what we want and what the customer wants“We strive to deliver what they want in everything we do” Matt Lawson - Appliances Online Everything is tracked / measurable – reason moved into digital from print which is fraught with ‘unknowns’ Review / test– “if someone presents an idea and it feels right then we try will run with it” Appliances Online Question = suspect DFD is about acquisition rather than retention?
- Andrew (Haines) you said ‘brand’ wasn’t a key thing for the business - 9/10 people visit site convert Traditionalist or digitally focused = direct marketing is not simply direct mail (although many still equate) Engagement Marketing, Contextual Marketing, Direct Marketing… it’s all the same! Everyone hates direct marketing (general consensus) – everyone hates boring, unimaginative, lack of relevance, junk mail Right segmented list is key to success – for this brief, if you don’t, anything you do is doomed to failure
- DFD accredited / best practise / reputable business inline with standards Didn’t have time to read and absorb all OFT guidelines = BT Legal, ASA at DabsRULES OUT MARKETING = financial incentives Majority of marketing ideas can’t use = audience/sector Haven’t gone into data harvesting – affiliates, credit card companies, experian, blogs, scrapingDo touch on it thoughYou guys know data inside and out / suck eggs!
- First thing springs to mind for target is Social Media Split personality - doesn’t work!Effective customer acquisition relies on trust and transparency (DMA Direct Marketing Association) No social channels currently doing well for debt marketOnly 16% of marketers rate Facebook as affective (77% use it) – use for tools rather than engagement? Live Again slogan – PayPlanSelfemployed – happy, feel good
- Take advantage of purchased data, form fills via website or affiliates Great for leads that don’t respond by other forms of marketing Best Results = News Feed in the past, rather than right hand side promoted postsEmotion = use high impact imagesHashtags / trending terms – SINCE 2009 BIG INCREASE IN SELF-EMPLOYED DEBT SEARCH TERMSEnd posts with open question Target = employers that employ mostly contractors – negative periods / redundancies Example = UK, men, minimum age 40, debt/debt consolidation/debt relief/unsecured debt/debt management plan, credit card debt, bankruptcy, small business owners Problems = older audience - don’t like social life in public domainMany self-employed either say trade, director or founder
- CPE = cost per engagement (pay when someone clicks, tweets, replies, etc) PROBLEMS = I’ve never been able to get Twitter to work as successfully as FacebookAudience is sizeable + active though! OUTREACH = Dozens of discussions each day > find influencers > follow them > thank them for return follow > find their influencers, follow them and so on = build up your own DB Incentivise influential bloggers – give PR information, stats, reports, etcPR = coverage / drives awareness of site + brand / inbound links LinkedIn ads don’t jump out / expensivePositions = snippet across top, side column (almost anywhere on site), homepage PROBLEM = I tried targeting everyone in UK, construction, all titles, male, ANY age – COULDN’T GET A TARGET AUDIENCE LARGE ENOUGH - BT
- Straight forward PPC advertising in search engines to everyone +PPC remarketing on relevant websites to warm leads that didn’t convert Show adverts to people who are likely to be interested > target based on keywords + cost = can be highly effective / relevantBT – relied on email and PPCBrinc – rely on email Long tail search ad free Remarketing can be very effective / but also expensive per lead Click to call – same cost as desktop / 32% regularly use it on mobile (tnooz.com) Banner Ad – not the biggest fan / great for branding / can work on highly relevant sites –Lots of site out there – ukbusinessforum, GumTree, Gingerbread, Accountingweb, Milkround
- Ratings – targeted to audience
- LANDING PAGES – specific to trade, issues in particular trades Friendly tone, advice (emotion; not alone) Favourite website was DebtPlan – clean, simple, FRIENDLYCapture details to remarket to them, keep in touchVideos highly relevant to audience – quick, snippets of advice, human element New content is great for SEO and will drive leads / audience is hard to target / make it easier for them to find youArticle to be keyword rich – currently they are not across the site Some SEO issues with the site - H1 tags
- Content is king – gSEO / target audience characteristics require help, advice + assistance (valuable/relevant) – they want to succeed!Booklets on how to grow a small business, marketing advice, keeping IT costs low (spreadsheets, letters)Champion issues as stated in press > recruiting / cash flow / 50% have no retirement savingsTangible (picture)A self-employed genuine getting started for FREESO MUCH POTENTIAL – REWARDS (effective incentives)32% motivated by competitions / 29% by loyalty schemes Capture details to read moreTell them what you will do with their details – confidential, won’t sell information PR + waiting – influencers will place on website / backlinks GREAT for SEO Plant flag - Google Play or iTunes App Store (Scrabble had to fight to get theirs back) - articles on debtaction-ni.net
- Key area for targeting based on audience profiling / short on time
- Forums needs to be regularly monitored – not just by marketing people / CS / knowledgeable people
- A little bit underhand Very tricky marketing practise – HotUKDeals are hot on this and have banned me twice!However THE biggest revenue/sales days at last two business came from this Don’t just go for the hard sell, you’ll be spotted a mile away
- Email marketing - works best as tool for customer retention / growthEmail not great for colder contacts (Dave Chaffey) Dela Quist – best advice ever given me, send more! Cheap Dynamic content - automatically adjusted to different trades / unique fragments / personalisationSTO (sent time optimisation) – send email when they’re using itALSO - triggered emails based on the download of content (PDF) > Behavioural – relevant sites/partners to install cross domain Javascript tracking code
- Digital measurable / more targeted Geo-targeting – delivering different content to each visitor based on location, region, postcode, browsing history (cookie based?) Digital radio is growing significantly – people listening on multiple devices Kissmetrics – know where the first touch point of customers *Arbitron / Edison Media Research
- Personalisation improves response rate by 30-400% Send targeted, small, highly targeted pieces at key times / tax returns due or overdue? Select postcodes or regions highlighted to be struggling for what ever reason Previously I’ve managed to make direct mail work, profitably – still a place for it – it isn’t the spray and pray approachDepends on target audience – older audienceExpensive
- Couldn’t find any relevant MAINSTREAM UK magazines – local press and magazines would need detailed researchTarget more indebted trades/locations first? Other channels consider, but discounts for presentationEventsDigital TV - honestly didn’t know enough about itSMS - intrusive
- So in conclusion, The opportunity is there, it’s substantial, it’s the right time to act AND it’s within touching distance Recommended marketing solutions to monetize audience – just need final piece of jigsaw – someone to grab it and run with it Thanks you – any questions? I’d be really interested to hear your feedback on the presentation – as this target audience and this type of business is very different to what I’m used to?