IFA Promotion Postal Research Survey

1
IFA PromotionPostal Research Survey

• 17th January 2005

Presentation by Georgina Clarke (Ref 5067)
2
Agenda

• Background and Methodology
• Sample Structure
• Main Results
• General Use and Purchasing
• Use of Find an IFA Service
• Advertising, Awareness and Image

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Background and Methodology

• IFA Promotion aims to assess the use, awareness,
  image and value of its products and services
  amongst IFAs, particularly
• IFA Promotion membership blue roundel
• IFA Promotion merchandise/posters
• Sales leads from IFA Promotion hotline and
  website
• Being part of IFA Promotion Media Services
  Directory and Press Club
• Find an IFA marketing package
• TaxAction and Get Saving! marketing packs
• In 2001 IFA Promotion commissioned Consensus
  Research to carry out a basic benchmark
  quantitative study involving 100 structured
  telephone interviews
• In 2002 and 2003 a similar study was carried out
  by IFA Promotion using a postal methodology,
  which was repeated again in 2004
• The questionnaire was mailed to all IFAP members
• This presentation compares results from all three
  surveys, which achieved the following responses
• 2002 2140
• 2003 1765
• 2004 1422

4
Sample Structure
5
Sample Structure (1)
Geographic Distribution
Age of Company
6
Sample Structure (2)
IFA Organisation
IFA Experience
7
Sample Structure (3)
Number of Years Company Has Belonged to IFA
Promotion
8
Main Results General Use and Purchasing
9
As in previous years, two thirds of IFAs say use
of IFA Promotion roundel/logo is main benefit of
membership
Q5 What would you say are the main benefits you
have received from your membership of IFA
Promotion?

• National IFAs and Independent Multiple IFAs more
  likely to say sales leads from website are main
  benefit
• Free marketing guides main benefit for more
  Independent Multiple IFAs
• Less experienced IFAs more likely to say sales
  leads via website is main benefit, while
  experienced IFAs say leads via hotline

Added in 2004
10
Less experienced IFAs more likely to say sales
leads via website is main benefit, while
experienced IFAs say leads via hotline
Q5 What would you say are the main benefits you
have received from your membership of IFA
Promotion?
Added in 2004
HIDDEN SLIDE
11
Blue roundel logos are merchandise bought by most
IFAs, although less than previous years
Q6 Have you bought any of the following
merchandise from IFA Promotion?

• Experienced IFAs more likely to buy blue roundel
  logos and brochures/ factsheets than newcomers
• Independent Multiple IFAs more likely to buy
  merchandise, particularly blue roundel logos

Added in 2003
12
Independent Multiple IFAs more likely to buy
merchandise, particularly blue roundel logos
Q6 Have you bought any of the following
merchandise from IFA Promotion?
Added in 2003
HIDDEN SLIDE
13
Slight decline in overall use of blue roundel
logo, but still used more on letterheads and
business cards
Q7 Thinking about the blue roundel IFA logo, do
you have it incorporated in your

• Independent IFAs and Network Members make more
  versatile use of logo than National IFAs
• Logo placed on letterheads and business cards by
  more Network Members
• Logo placed on office windows, website and
  brochures by more Independent Multiple IFAs
• Proportion of National IFAs who do not use logo
  continues to increase (now 40 from 27 in 2002)

14
Large range of reasons for not using blue roundel
logo
Q8 If you do not use the IFA Promotion Roundel,
please tell us why

• National IFAs have more restrictions - not added
  to stationary and not part corporate identity
• More Network Members and Independent Single IFAs
  do not see the need / value of using the logo
• Lowest awareness of being able to use logo among
  Independent Multiple IFAs

Base IFAs not using the roundel (222)
15
Majority agree blue roundel is seen as the symbol
for IFAs and a third say being unable to use logo
would affect business
Q9 It has been said that the roundel is useful
to IFAs because consumers and businesses see it
as the symbol for IFAs. Do you agree or disagree
with this?
16
The vast majority agree that the blue roundel is
seen by consumers and businesses as the symbol
for IFAs
Q9 It has been said that the roundel is useful
to IFAs because consumers and businesses see it
as the symbol for IFAs. Do you agree or disagree
with this?
HIDDEN SLIDE
17
Around a third of all IFAs say being unable to
use roundel logo would affect business
Q10 If you ceased to belong to IFA Promotion and
were unable to use the roundel, would this have
any effect on your business?
HIDDEN SLIDE
18
Being unable to use roundel slightly more likely
to affect IFAs based in London/South East and
those with long IFAP experience
Q10 If you ceased to belong to IFA Promotion and
were unable to use the roundel, would this have
any effect on your business?
HIDDEN SLIDE
19
Being unable to use roundel would affect IFAs as
its easily recognised, helps with identification
and suggests independence
Q11 Please could you provide further information
on your above answer?
It would affect business because
Logo has become an easily recognised symbol
Logo is valuable for identification purposes
Logo is a mark of independence
HIDDEN SLIDE
Base All IFAs saying would affect (438)
20
Main Results Use of Find an IFA Service
21
Slight increase in number of referrals received
via IFA Promotion
Q12 You are probably aware of the IFA Promotion
Find an IFA Hotline and web service. About how
many of these enquiries do you think you have
received in the last year?
22
The majority of referrals received through Find
and IFA Hotline and web service continue to be
consumer leads
Q13 How many of these enquiries were from
businesses and how many were from consumers?

• 76 of consumer referrals resulted in actual
  business (declining over time - 82 in 2003, 86
  in 2002)

Base All IFAs who have received referrals (1013)
Base All IFAs who have received consumer
referrals (881)
23
The majority of referrals received through Find
and IFA Hotline and web service continue to be
consumer leads
Q13 How many of these enquiries were from
businesses and how many were from consumers?

• 76 of consumer referrals resulted in actual
  business (declining over time - 82 in 2003, 86
  in 2002)

Question wording improved causing decline in Dks
HIDDEN SLIDE
Base All IFAs who have received referrals (1013)
24
The majority of IFAs think positively towards the
quality of consumer referrals from IFA Promotion
Q15 In general which of these phrases best
describes your opinion of the quality of the
enquiries you receive, in respect of generating
new business?
Note Base sizes too small to analyse business
referrals
HIDDEN SLIDE
Base All IFAs who have received consumer
referrals (881)
25
Majority agree that marketing package would be
useful, but few feel 249 is good value
Q16 In July IFAP launched an online marketing
package designed to help you attract more
customers to your IFAP database entry. How useful
do you think this could be to your business?
26
Client referrals continue to be main source of
new business, but business via IFAP website is
increasing over time
Q18 Which of these sources would you say is
responsible for generating most of your new
business?
(Corporate Scheme)
27
Main Results Advertising, Awareness and Image
28
Over a quarter take part in corporate advertising
scheme, highest among Independent Multiples and
IFAs with long IFAP experience
Q19 Does your firm take part in the Yellow
Pages/Thomsons corporate advertising scheme
negotiated by IFAP on behalf of its members?

• Likelihood to take part in corporate advertising
  scheme is higher for older companies and more
  experienced IFAs

29
Awareness of IFA Promotion media advertising, on
behalf of the industry, gradually declining over
time, lower among National IFAs
Q20 As you are probably aware, IFA Promotion
places advertising in the media on behalf of the
industry? Can you remember seeing any of this
advertising recently?

• Awareness particularly low (27) among IFAs new
  to IFAP

30
IFA Promotion media advertising mainly seen in
national newspapers, but more has been noticed in
local newspapers
Q21 If yes, can you remember where you saw this
advertising?
Base All IFAs who remember seeing any recent
advertising (556)
31
Overall awareness of Media Services Directory and
Hotline remains static, higher among National IFAs
Q22 IFA Promotion operates online and published
versions of its Media Services Directory and
Media Services Hotline (formally known an Press
Services). Have you heard of these?

• A quarter of IFAs who are aware of Media
  Services Directory and Hotline are included in
  it, this remains static

32
A quarter of IFAs who are aware of Media Services
Directory and Hotline are included in it, this
remains static
Q23 Are you actually in the Media Services
Directory?
HIDDEN SLIDE
Base All IFAs who heard of the Media Services
Directory and Hotline (397)
33
The majority like the principle of Media Services
Directory and Hotline, Independent Multiple IFAs
are slightly more positive
Q24 The Media Services Directory and Hotline are
services offered to journalist. Which of these
statements best describes how you feel about this
service?

• Just over a third would be interested in giving
  comment to the media, highest among National IFAs

34
Just over a third would be interested in giving
comment to the media, highest among National IFAs
Q25 Would you personally be interested in giving
comment to the media and providing them with case
studies?
HIDDEN SLIDE
35
Over half find the TaxAction pack useful, highest
among National IFAs
Q26 Around March, IFA Promotion sends out
TaxAction marketing packs to all its members
prior to launching the annual TaxAction campaign.
Would you say you find the pack?
36
Opinion regarding usefulness of Get Saving!
Campaign pack is polarised, most useful for
Nationals (as for TaxAction pack)
Q27 A similar pack is sent out in October via
email to support the Get Saving! Campaign. Would
you say you find this pack?
37
Around two fifths of IFAs have heard of the
regional Press Club, a similar proportion would
be interested in being part of it
Q28 There is a service, similar to the Media
Services Directory, but operated on a local basis
through IFA Promotions Regional Press Officer.
This is called the Press Club. Have you heard of
this service?

• Independent Single (46) and IFAs based in
  Scotland/NI have highest awareness (53)
• Nationals and Independent Multiple IFAs have the
  lowest (both 34)

38
Just under three quarters receive Update, and
there is a slight decline in usefulness over time
Q30 Do you get Update, IFA Promotions
bi-monthly newsletter in your office?

• Nationals (32) and IFAs new to IFAP (36) least
  likely to get Update

Base All IFAs (1422)
39
National Press and Trade Press are main places
where editorial mentions of IFA Promotion have
been seen
Q32 Can you remember seeing any editorial
mentions of IFA Promotion in the following places?

• Independent Multiples (22) and IFAs new to IFAP
  (21) more likely to have seen mentions online

Added in 2004
40
Majority of IFAs are positive towards IFA
Promotion
Q30 Here are a few statements other IFAs have
made about IFA Promotion. For each one, please
tick the corresponding box to indicate whether
you agree or disagree with it?
On the whole IFA Promotion does a good job for
IFAs
The IFAP roundel is a sign of quality recognised
by consumers
IFA Promotion is the single body of most value to
IFAs
The IFAP is mainly of use to the smaller IFA
groups
I feel I get very poor value from my IFAP
membership
41
Majority of IFAs agree IFA Promotion do a good
job and that the IFAP roundel is a sign of
quality for consumers
Q30 Here are a few statements other IFAs have
made about IFA Promotion. For each one, please
tick the corresponding box to indicate whether
you agree or disagree with it?
On the whole IFA Promotion does a good job for
IFAs
The IFAP roundel is a sign of quality recognised
by consumers
HIDDEN SLIDE
42
Two thirds agree IFA Promotion is single body of
most value, but opinion is split regarding main
use being to smaller groups
Q30 Here are a few statements other IFAs have
made about IFA Promotion. For each one, please
tick the corresponding box to indicate whether
you agree or disagree with it?
IFA Promotion is the single body of most value to
IFAs
The IFAP is mainly of use to the smaller IFA
groups
HIDDEN SLIDE
43
Two thirds of IFAs are positive about the value
they get from their IFAP membership
Q30 Here are a few statements other IFAs have
made about IFA Promotion. For each one, please
tick the corresponding box to indicate whether
you agree or disagree with it?
I feel I get very poor value from my IFAP
membership
HIDDEN SLIDE
44
Summary
HIDDEN SLIDE
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Summary (1)

• General Use and Purchasing
• IFA Promotion members continue to say use of
  roundel/logo is main benefit of membership (63)
• Proportion who say there are no benefits remains
  low (11)
• Blue roundel logos purchased by 44 of IFAs
  although 50 did not respond to this question
• Slight decline in overall use of logo used most
  on letterheads (59) and business cards (56)
• Proportion who use logo on website remains static
  (20)
• Majority (84) of IFAP members agree that blue
  roundel logo is useful as consumers and
  businesses see it as the symbol for IFAs (52
  agree a lot, 32 agree a little)
• Almost a third (31) say being unable to use
  roundel logo would affect their business

HIDDEN SLIDE
46
Summary (2)

• Use of Find an IFA Service
• Average number of referrals received in last year
  has increased slightly from 3.7 to 4.0
• 17 have received 6 or more (12 in 2003)
• As previously, the majority of referrals were
  consumer (87) including 4 which were both
  consumer and business leads
• Fewer consumer leads resulted in actual business
  than last year (76 from 82)
• Majority felt consumer leads were very good (14)
  or reasonable (62) quality
• Online marketing package, launched in July,
  receives a positive response
• 24 said it could be very useful, 36 said a
  little useful
• However, few (14) rate it good value for money
  if priced at 249 VAT for a year

HIDDEN SLIDE
47
Summary (3)

• Advertising, Awareness and Image
• Over a quarter (28) take part in the Yellow
  Pages/Thomsons corporate advertising scheme
• Awareness of IFA Promotions media advertising,
  on behalf of the industry, in slight decline over
  time (now 39 say they have seen advertising
  recently)
• Awareness of Media Services Directory and Hotline
  remains consistent (28)
• Among those who are aware, 25 are included in
  the directory (also static since last year)
• Reaction to these services remains positive (52
  like the idea) and 36 would personally be
  interested in providing comment or case studies
• Reaction to marketing packs continues to be
  positive
• 54 find the TaxAction pack useful (15 very
  useful)
• 45 find Get Saving! pack useful (9 very useful)

HIDDEN SLIDE
48
Summary (4)

• 40 are aware of local Press Club service and 38
  would be interested in participation
• The proportion of IFAP members who acknowledge
  receiving Update newsletter remains equal to last
  year (72)
• 82 find it useful (8 say very useful)
• Awareness of editorial mentions of IFAP remains
  static, with National Press (39) and Trade Press
  (38) being main places where mentions have been
  seen
• Overall view of IFA Promotion continues to be
  positive
• 90 agree they do a good job for IFAs (43 agree
  strongly)
• 83 agree the roundel is a sign of quality
  recognised by consumers (43 agree strongly)
• 65 agree IFAP is single body of most value to
  IFAs (19 agree strongly)
• 45 agree IFAP is mainly of use to smaller IFA
  groups (7 agree strongly, 49 disagree)
• 30 believe they get very poor value from their
  IFAP membership (64 disagree)

HIDDEN SLIDE