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FSCS reveals targets for £3.6m consumer ad campaign


The Financial Services Compensation Scheme has set out the targets for its £3.6m consumer awareness advertising campaign.

The FSCS launched its latest campaign last month which looks to raise awareness about savings protection if banks go bust. It is funded by banks and building societies.

In its plan and budget for 2013/14, published last week, the FSCS says the campaign strategy is to target consumers at key life stages, such as saving for retirement and planning a wedding.

It wants to boost consumer awareness of market protection from 50 per cent of all consumers as at November 2012 to 54 per cent by March 2014.

Reassurance that the FSCS exists is targeted to go from 39 per cent to 43 per cent, while confidence in money being safe is targeted to go from 66 per cent to 69 per cent.

The FSCS scrapped an earlier £4m advertising campaign in September 2011 after admitting it did not have the desired impact on consumer awareness.

It says: “We will continue measuring the results at key points and will adapt our approach as necessary to make sure we get the best result for the money we are investing.”

Hudson Green & Associates principal Ian Hudson says: “It seems a lot of money is being spent to achieve not very much, which seems to be the ethos of the FSCS in a nutshell.”


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