Hotwire puts 3DCM’s debt management programme on the media agenda
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On 26 March, Mervyn King, Governor of the Bank of England, backed predictions that the UK property market will stagnate in 2008, meaning that property owners will cease to enjoy the levels of equity growth experienced in recent years. Worse still, many will increasingly see the associated debt as a millstone around their neck.
It was against this background that 3D Currency Management sought to launch its unique proposition in April 2008 to an audience of investors and independent financial advisors at the Bloomberg Citygate building in London. The 3DCM programme aims to turn secured debt on its head, enabling property investors to realise actual value from their debt and translate this into equity growth in a stagnant or falling market.
While equity markets continue to suffer from uncertainty over credit and valuations, the growing prominence of FX as an asset class will bring increased opportunities for the sophisticated investor. 3DCM pioneered a new secured debt management programme that takes positions in the currency market against a sterling loan. As the value of that currency reduces against the sterling, so too does the outstanding balance of an individual’s liability. While particularly suited to the mortgage market, 3DCM’s programme can be applied to any secured debt.
Hotwire was tasked with securing the attendance of key press at the launch event, to include representatives from publications across the wealth management, mortgage, IFA and private investor sectors. In addition, the supporting PR programme sought to generate awareness of the 3DCM programme through targeted media coverage, focusing on the key market drivers.
In launching the product to the media, Hotwire developed an issues-based campaign that focused on the latest compelling developments in the marketplace, specifically around the economic climate. By laying this foundation, Hotwire could clearly communicate 3DCM’s proposition and ensure the media understood its relevance in the current investor marketplace.
The key campaign messages included 3DCM’s combination of long-term strategic positioning across multiple currencies with real-time FX trading, enabling investors to benefit from the volatility in the currency market while minimising the associated risk. By focusing on the value in exchange rate movements, 3DCM can sidestep the negative impact of the credit crunch and pass on real benefits to the individual.
Using Mervyn King’s comments as a compelling hook, Hotwire secured the attendance of key journalists at the launch event on Thursday, 3 April 2008, from publications such as Financial Advisor and Professional Wealth Management. The event included a keynote presentation from Professor Charles AE Goodhart CBE, FBA, a member of the Financial Markets Group at the London School of Economics (LSE), providing added depth to the story for journalists to take onboard.
As a result of the journalist attendance and follow-up briefings with additional press, Hotwire secured coverage across key titles including FX&MM, Financial Advisor, Professional Wealth Management and Wealth Briefing. The coverage clearly articulated the uniqueness of 3DCM’s offering, including its approach to real-time FX trading and round-the-clock risk management.
James Lawrence, commercial director, 3DCM, comments: “We recognised the importance of PR as part of the launch and were impressed with Hotwire’s ability to step up to the challenge at relatively short notice. The team’s contacts within the financial press paid off, with introductions to several influential journalists over the course of the campaign, resulting in coverage directly targeting our prospective customers.” |
Banking & Finance 
