Old Mutual’s marketing team recently revised its sponsorship strategy in a bid to connect with new and emerging target markets for its products and services, particularly what it terms the ‘new age market’.
The strategy to reach this market was guided by HaveYouHeard, the marketing communications agency. The agency suggested Old Mutual tap into South Africa’s music culture in order to use music as the driver to reach younger and new markets.
Old Mutual’s head of brand, Thobile Tshabalala, says, "Music is a key component of South Africa’s young consumers’ lives. They are either actively involved in the industry, aspire to be involved, look up to their music idols or simply love and consume music."
"The launch of AMPD Studios in Newtown, hand-in-hand with our partnership with South African musicians, brings us closer to the heartbeat of the music community. It will allow us to play a vital role in enabling, amplifying and empowering Africa’s awesome young talent while achieving our commercial objectives," Tshabalala adds.
"Working with the new sponsorship strategy ‘rules’, our objective for Old Mutual was to create a high impact, always-on, national campaign around financial prosperity that connects the new age market to the company," says HaveYouHeard’s head of client service, Michele Mostert.
"Using music as the driver gives Old Mutual the opportunity to start a conversation with the new age market. However, the conversation has to go beyond simply securing naming rights to music festivals. To benefit both Old Mutual and these new consumers, the conversation has to be powerful and meaningful. Delivering this value is the objective behind AMPD Studios and the mentorship programme," she says.
The programme, co-created by HaveYouHeard, aims to bring Old Mutual to the centre of the local music scene. It comprises AMPD Icon Hero Conversations and AMPD Masterclasses. Artists participating in the pre-recorded AMPD Icon Hero Conversation series will share insights about their experiences in the entertainment industry.
The series will be broadcast live once a month on Metro FM, be shown on Afternoon Express and on Old Mutual’s digital platforms. AMPD Masterclasses — essentially live Q&A sessions — will be held at AMPD Studios throughout the year and will broadcast live on the aforementioned channels.
HaveYouHeard’s content director, Jon Savage, adds, "Honest and raw conversations with the giants of the industry will help guide aspiring musicians so that they make the right decisions about their careers and financial security."
"AMPD Studios, the collaborative branded space for networking, inspiration and learning, will give them access to put what they hear into practice as well as the tools required to grow a sustainable business in the entertainment industry," he says.
"It’s a brave initiative designed to make a real impact on the music industry, but one that — given the content sharing opportunities built into the programme — will also reach many of Old Mutual’s new age generation targets," he adds.
Opened to the public on July 1, AMPD Studios features a meeting room, coffee shop, co-working space and free Wi-Fi as well as two recording studios, the latter accessible when the aspiring musician opens an Old Mutual Money Account.
Other elements of Old Mutual’s new sponsorship strategy will be launched over the next 12 months.
For more information, visit www.haveyouheard.co.za. You can also follow HaveYouHeard on Facebook, Twitter or on Instagram.