How an Anti-Fraud Software Firm Used a True-Crime Podcast to Raise Awareness Among Potential Buyers
In the face of a significant increase in white-collar fraud, many businesses are still not fully aware of the extent to which they can inflict damage on ventures.
This presented a challenge for Medius, a B2B provider of anti-fraud software for finance professionals, when it came to convincing potential buyers to invest in it. The firm not only had to make them acknowledge the reality of fraud as a credible threat but also had to show them the material impact on their business.
Medius's strategy for raising awareness
The objective was to convey not just the rational benefits of the anti-fraud software but also to evoke an emotional response, positioning Medius as an indispensable solution. To achieve this, a true crime podcast, named "Accounts Deceivable," was created. The podcast delved into the human cost of financial fraud, by exploring what motivates white-collar crimes and depicting the emotional toll on victims who lose millions of dollars. Fight or Flight, the agency behind the strategy, pitched case studies from the podcast to national media outlets and conducted research on how employees perceived white-collar crime.
Designing the podcast to reach buyers
To ensure high-quality content, the podcast series was recorded on location in various cities, featuring interviews with both victims and perpetrators. Fight or Flight collaborated with accountancy influencer James Wright to promote the podcast on Instagram, YouTube, and TikTok. Social audiograms, highlighting emotional clips from the show, were strategically posted on Medius-owned channels.
Were the results as expected?
Accounts Deceivable achieved its primary goal by introducing a vast audience of finance professionals to Medius's anti-fraud software. The True Crime format not only garnered a significant audience but also maintained high engagement, with 89% of listeners tuning in until the end. The campaign gained tier-one media coverage, emphasizing the alarming rise of white-collar crime during a period of increased cost of living.
A look at the facts and stats
- Podcast ranked among the top 150 Apple business podcasts, competing with major names like CNBC and Harvard Business Review.
- Over 23,500 downloads placed it in the top 20% across all podcast categories.
- 96% of the audience is within key markets of the UK and US.
- The campaign reached 1.15 billion listeners across print, online, and social media.
- Commercially, podcast listeners were three times more likely to register on the Medius website, establishing a connection between brand communications and lead generation.
Strategies for business leaders to fight against fraud
Business leaders need to be ready to address reporting challenges by establishing clear protocols for recognizing and promptly reporting suspicious activities, and by providing employees with necessary information on who to contact.
They also need to enhance awareness and education by increasing knowledge about common fraud tactics, such as scam emails, calls, and texts, is essential. Conducting engaging training programs educates employees on identifying and responding to fraudulent activities, fostering a vigilant and informed workforce.
Supporting initiatives that strengthen laws and regulations related to white-collar crime is crucial. Urging for stricter penalties, enhanced oversight, and improved enforcement helps deter potential fraudsters and strengthens the overall legal framework.
By proactively addressing reporting challenges, enhancing awareness through education, and advocating for stronger measures, business leaders can significantly contribute to the prevention and mitigation of fraud.