Challenge: Veda enlisted Howorth to develop and execute a two-week media strategy to release the results of its 2011 Credit Management in Australia, a report providing insights into how global and local economic factors are affecting the credit management processes of Australian businesses. Veda conducted the survey amongst 220 credit managers from a cross-section of Australian industry. Veda works closely with a large proportion of Australia’s credit professionals which gives the company a detailed understanding of local credit management issues within a national and global context.
Strategy: The hot topic in Australian media in the week and days leading up to the launch of the report was the announcement by the Reserve Bank of Australia to drop interest rates in December and whether the big banks would pass it on – which was seen as a welcome relief to businesses – especially small and medium sized enterprises – and consumers.
The Howorth team spotted the opportunity to capitalise on the announced rate cuts by linking the credit management report to the topic. We worked closely with Veda’s spokesperson Moses Samaha, Head of Commercial Risk, to craft an interesting story for media on these topics. We also advised Veda to bring in a third party spokesperson, and as a result were able to work with Terry Collins, CEO AICM to strengthen our story even further.
Results: We targeted selected business and financial media for a preview on the report setting up two interviews with Sky Business News and AAP ahead of the official launch. This resulted in 29 pieces of editorial across TV, newswires and online in the week following the release of the Credit Management in Australia 2011 report. Articles reported on the results of the report as well as giving Veda’s view on the state of credit management in Australia.
- An 4 minute interview on Sky Business News with Moses Samaha;
- Moses Samaha and Terry Collins featured in tier one media targets including AAP, Daily Telegraph, The Australian, Herald Sun, The Age, etc.
- As a result from our outreach, Veda received a number of requests for more information from government agencies such as the Department of Employment, Economic Development and Innovation, and from Credit Managers across a wide range of industries in Australia and New Zealand.