Innovation in Banknote Communication

Mark Onikul

Reserve Bank of Australia

27 September 2017

Overview

Experiences

- First Polymer Series

- Next Generation Series

Outcomes

The Future

Questions

Importance of Communication

CONFIDENCE Avoid

confusion

Source of reliable

information

Manage criticism

Manage expectations

Cut through distractions

Overview

First Polymer Series

First Series – Key Messages

New substrate (polymer)

New designs

New security features

New banknote sizes

Portrait changes (Chisholm, Queen)

First Series – Media Landscape

First Series – Activities

Media launch

Printed material (leaflets and posters)

TV advertisements

Printed advertisements (newspapers)

1992 Series Advertisements

First Series – Lessons

Public concerns

Earned media potential

Longevity of printed material

Advertising modified after agency engaged

Next Generation Series

Challenges

Low counterfeiting rate / more than 25 years

- Public complacency

- Limited familiarity with upgrade process

Diverse (high-risk) audiences

Audiences

Key Stakeholders

• General public

• Media

• Law enforcement

• Financial institutions

• Cash-in-transit companies

• Casinos

• Retailers

• BEMs

• Educational institutions

High-Risk Groups

• Regional

• Older generations

• Culturally and Linguistically Diverse

• Aboriginal and Torres Strait Islander

• Vision impaired community

Media Landscape

Key Messages

Why banknotes are changing

How to identify new security features

Legal tender status of old banknotes

Where to go for more information

Owned Media

Earned Media

Stakeholder Engagement

Paid Advertising

● Banknotes website

● Mobile app

● Printed materials

● Digital resources

● Translations

● Supporting articles

● Numismatic sale

● Opportunities in print, radio, online and television

● Media training

● Social media

● B2B stakeholder engagement

● APCA working groups

● General stakeholder outreach

● Vision-impaired community

● BEMs

Approach

Paid Advertising Channels

Digital interactive banners on websites and mobile devices

Video short advertisements alongside online video content (YouTube, catch up TV)

Press indigenous, CALD, community, regional and rural publications

Radio in-language advertisements, and Radio and Print Handicap Network

Search paid search engine optimisation and featured ads to drive traffic to banknotes website

TV short advertisements on regional television stations

Communication Activities

Stakeholder engagement/partnerships

Ongoing public education

Developed sources of truth

RBA Website

Banknotes Website

Banknotes Website - FAQ

Banknotes Website - Portals

Reserve Bank Articles

Date Article Topic

September 2017 The Growing Demand for Cash

March 2017 How Australians Pay: New Survey Evidence

March 2017 Recent Trends in Banknote Counterfeiting

December 2016 The Future of Cash

September 2016 New Banknotes - From Concept to Circulation

September 2015 Banknote Stakeholder Engagement

September 2015 The Life of Australian Banknotes

March 2015 Australian Banknotes: Assisting People with Vision Impairment

June 2014 Cash Use in Australia

March 2014 The Next Generation Banknote Project

June 2012 Banknote Quality in Australia

September 2011 Cash Use in Australia: New Survey Evidence

September 2011 Recent Trends in Counterfeiting

Creative Concept

Repurposed Assets

Video Website

App Museum

NGB5 Advertisement

NGB10 Advertisement

Repurposed Assets

New York Magazine 3.5 million

RBA YouTube 1.3 million

Tech Insider 6.8 million

Video Success

Supporting Videos

Industry Training Video

Digital Advertisements

Social Media

Social media policy

Twitter ‘teaser’ campaign

Social Media Interest

NGB5 Online Mentions

Media appearances

Mobile App

Museum Screens

Public Outreach

Outcomes

Key Outcomes

The Future

Learnings

Earned media supports campaign

Strong creative enforces key messages

Shift from awareness to education

International Experiences

ECB - pizza, television and roof tile videos

Bank of Canada - $5 space launch

Bank of Canada - konami code Easter Egg

Bank of England - Twitter Q&A

Norges Bank - ‘cod’ video

$5 $10

Digital Strategy

Blue Sky Options

Augmented

Reality Virtual

Reality

Wrap Up

Wrap Up

Explore innovative approaches

Embrace new technologies

Adapt to a changing environment

Discussion

Discussion

What are your experiences in communication?

What innovations are you introducing?

Questions?

Thank You