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Case Study #1:
Board Member Retail Proxy Vote Campaign
Situation
Crosby|Textor was engaged as retail campaign consultants by one of Australia’s most respected businessman in his bid to retain a place on a company board.
The situation was complicated by hostility from within the company, particular from other board members who were actively driving a vote against our client.
Challenge
Crosby|Textor’s qualitative and quantitative polling identified apathy and disengagement towards the board elections among retail shareholders, driven by a sentiment that institutional shareholders would fully control the outcome.
However, there was high awareness of our client’s personal and financial commitment to the company and high awareness by shareholders of their “right to vote”.
This formed a solid base from which to launch a free and paid media shareholder communications campaign aimed at coalescing and motivating retail support for our client. Qualitative polling was used to identify critical drivers and to assist in the development, testing and refinement of free media messages and paid communications materials, which were delivered by direct mail out utilising the shareholder register and also by an unprecedented campaign of co-coordinated paid TV, radio and print advertising as well as direct messaging.
Firstly though, the effectiveness of the both the messages and the mediums for those messages were tested quantitatively amongst shareholders.
Crosby|Textor managed all phases and components of the retail campaign, including campaign budgeting, logistics planning, media liaison and advancing, message development, research, media liaison, agency management and effectiveness reviews.
Result
The campaign won a clear and strong majority retail investor vote and mandate for our client that well exceeded market expectations. This successfully sent a strong message to the board that these shareholders needed to be listened to, and that their concerns about a lack of shareholder value needed to be acted on.
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