It took the U.S. Department of Treasury 70 years to redesign the most widely used currency in the nation - the $20 bill.
So a PR campaign to gain acceptance for Andrew Jackson's new look was a must.
To debut the $20, the federal agency launched an aggressive campaign to increase public awareness, capitalizing on global PR and partnerships that would make any PR pro green with envy.
During a recent seminar, Malcolm Carter, director of public education at the Treasury's Bureau of Engraving and Printing, spoke about how the department's wise use of PR paid off not just with clips but with tangible results.
It's Not Monopoly Money
The government rolled out the new currency to combat technology advances like color photocopiers that make counterfeiting U.S. currency easier. The new $20 bill contains advanced security features like the new $50 and $100 bills released earlier.
To publicize the new Monopoly-like bill, Carter targeted five key audiences: the public, cash handlers, banks and businesses, law enforcement officials and the international arena. Coordinating the introduction of the new currency involved not only the Treasury, but government agencies such as the Secret Service as well.
The PR campaign stretched worldwide, since two-thirds of all U.S. money is in circulation abroad, according to Carter. The Department retained PR firm Burson Marsteller for PR and Burson Direct, a component of Burson Marsteller, for advertising.
The message to all outlets was clear and concise: All U.S. currency remains valid and the Treasury Department will not recall or devalue the old bills.
The media relations strategy was rolled out in three phases. First, the department conducted three media events to generate spot news in broadcast outlets. Second, Carter aimed to reach "long-lead" publications such as Parade, Money, Time, Forbes, BusinessWeek and Newsweek. Last, he targeted secondary print publications, or newspapers with circulations of 10,000 to 250,000. Carter says this wasn't an easy story to sell, but he made his pitch newsworthy.
"If you localize any story, there's enough hunger out there to fill the news hole," he says.
Materials, brochures, training videos and camera-ready art went out to 800,000 cities abroad. The campaign also targeted third-party organizations such as the National Council of Senior Citizens with press materials for their newsletters or Web sites.
The response was outstanding. Treasury landed 191 local stories in 44 states. And a survey conducted by the department proved that the message was reaching the public.
Before the new currency was launched, 59% of the public had some knowledge of the currency change. In June, when the campaign began, the number shot up to 66% and by October, 88% of the public was aware of the new $20 bill.
"I think that's more people than know the name of the vice president," says Carter. (202/622-5529; http://www.bep.treas.gov; e-mail: [email protected]; fax: 202/622-5245)