Marketing & Advertising Services
BC Financial Services Authority RFP
Issue date: October 28, 2024
Closing Time: Proposals must be received before 14:00 hours (PST) on: November 12, 2024
BCFSA CONTACT: Enquiries related to this RFP, including any requests for information or clarification may only be directed in writing to the following person who will respond if time permits before the Closing Time. Information obtained from any other source is not official and should not be relied upon. Enquiries and any responses providing new information will be recorded and posted to BC Bid or otherwise distributed to prospective Proponents.
Peter Mountstevens
Manager, Procurement
600 – 750 West Pender Street, Vancouver B.C., V6C 2T8
3 Situation/Overview
3.1 BCFSA RESPONSIBILITY
BC Financial Services Authority is the province’s regulator for the financial services sector that helps to protect British Columbians during some of the most important financial decisions of their lives. As a Crown agency of the Government of British Columbia, BCFSA oversees credit unions, trust companies, insurance companies, pension plans, mortgage services, real estate services, real estate development marketing and money services. BCFSA also administers the Credit Union Deposit Insurance Corporation of British Columbia (“CUDIC”). BCFSA’s mission is to instill confidence in the financial services sector by focusing on the safety and soundness of regulated entities and consumer protection.
BCFSA reports to the Minister of Finance and is governed by a Board of Directors. BCFSA is self-funded by the financial service entities it regulates, meaning there is no cost to the taxpayer.
3.2 BACKGROUND
In support of its consumer protection mandate, BCFSA facilitates annual consumer education and awareness campaigns to equip British Columbians with information to support them with making informed financial decisions. Through its campaigns, BCFSA seeks to create general awareness of BCFSA, its mandate, andimportant messages related to consumer protection.
BCFSA currently has three consumer education and awareness campaigns:
1. Winter education and awareness campaign: this campaign generally runs over two months (December – January) and demonstrates the ways BCFSA helps to protect consumers when they engage with the segments BCFSA regulates. It also aims to educate consumers on the existence and purpose of the Credit Union Deposit Insurance Corporation of B.C. (CUDIC). It runs across traditional media channels, select out-of-home channels, and social media.
2. Fraud awareness campaign: this campaign runs in March to align with Fraud Prevention Month. It focuses on educating consumers on how to protect themselves from fraud within the segments BCFSA regulates. It runs across traditional media channels and social media.
3. Summer education and awareness campaign: this campaign generally runs over two months (July and August). Like the winter campaign, the summer campaign demonstrates the ways BCFSA helps to protect consumers when they engage with the segments BCFSA regulates and aims to educate consumers on the existence and purpose of CUDIC. It runs across traditional media channels, select out-of-home channels, and social media.
To continue supporting its consumer protection mandate and the effectiveness of its consumer awareness and education campaigns, BCFSA is looking to develop a strategic brand framework, including a brand value proposition framework and consumer marketing objectives. This framework will guide BCFSA consumer marketing, communication, and education efforts, including the concept and creative for its campaigns, notably BCFSA’s upcoming 2024/25 winter consumer education and awareness campaign and March 2025 fraud awareness campaign.
While BCFSA’s recent consumer awareness campaigns have been centered around general ways BCFSA helps to protect consumers, BCFSA intends for its winter 2024/25 campaign to combine consumer education and protection messaging with segment specific trends, themes, and takeaways. As with past campaigns, additional messaging will also educate consumers on the existence and purpose of CUDIC.
Of particular interest to BCFSA is how it can effectively identify and engage its target audience, communicate its brand value proposition in plain terms, and address consumers’ needs. BCFSA seeks to grow awareness among a variety of demographics, including those who, our research shows, are not aware of BCFSA, and to develop a cross-platform campaign and paid media plan that incorporates new channels to help reach additional audiences.
BCFSA is currently engaged with a research service provider to conduct annual consumer awareness surveys. The data from these surveys helps to inform BCFSA’s consumer education and awareness
campaigns.
3.3 SCOPE
This tender is for strategic brand framework development and strategic campaign support for BCFSA’s winter 2024/25 campaign that must be in market for at least two months and end before March 31, 2025, and BCFSA’s March 2025 fraud awareness campaign.
The selected vendor will work collaboratively with BCFSA’s Communications Team to deliver the following inscope services:
• Development of a strategic brand framework including but not limited to a brand value proposition framework and consumer marketing objectives.
• Strategic campaign support for BCFSA’s winter 2024/25 campaign which will be in-market for at least two months and complete before March 31, 2025, and for BCFSA’s March 2025 fraud awareness campaign.
Specifically:
o Creative development and implementation support, including campaign concepts that bridge consumer education and protection messaging with segment-specific trends, themes, and takeaways, as well as concepts that emphasize the existence and purpose of CUDIC.
o Delivery of a suite of creative assets that can be leveraged for BCFSA’s consumer education and awareness campaigns and other consumer-facing initiatives and channels.
These channels include but are not limited to television, digital, social media, and out-of home advertisements, and web and social media content.
o Possible use and/or repurposing of existing campaign assets should it be determined that this is the optimal strategic direction for BCFSA.
BCFSA may extend beyond this scope and timeline if the work is completed to the satisfaction of BCFSA.