The Young Enterprise Tenner Relay
The Tenner Challenge is a national competition that gives young people a taste of what it’s like to be an entrepreneur. Thousands of British school children aged 5-19 are provided with a £10 loan with the aim of using their creativity, imagination and enterprise skills to try and turn it into as much profit as possible in just one month. The competition was founded in 2007 and today is run by the UK’s largest youth enterprise charity, Young Enterprise.
To increase the overall number of schools registrations and the number of new school registrations for the Tenner Challenge 2014.
Originality and Creativity
As Tenner is not a new initiative we wanted to design a PR campaign that would set it apart from all previous years. In line with the client objective, we decided to target ten key areas of the UK, where Young Enterprise wanted to expand their reach. The mechanism was to create the “Tenner Relay,” which saw a single £10 note travel the country, pass through 10 schools, each having 24 hours to turn their tenner into as much money as possible. The accumulative profit made by each school was added to the “Tenner Bank” as schools competed against each other to make the most cash and raise money for local charities. The schools ran enterprise initiatives that included a playground car wash, an art exhibition, a TV challenge sleep over and bake sales, providing a wealth of content to place in the regional and national media.
Strategy and Implementation
Having worked with Young Enterprise to select the 10 schools, we agreed dates for each tenner relay event; launching the first event in Glasgow and enlisting the help of local born entrepreneur and Dragon’s Den star Duncan Bannatyne. Events were subsequently held over a three week period in the build up to the main Tenner competition in Durham, Wakefield, Lincoln, Chester, Wales, Nottingham, Northampton, East Sussex and London. We then arranged for a cheque of the total profit made to be presented at the Bank of England by its Chief Cashier, Chris Salmon to formally end the UK’s first enterprise relay. Chris received the tenner which started the relay from the pupils of Winchmore School in London, the final school to participate in the initiative. Duncan Bannatyne also joined the photo call at the Bank of England, as the end of the relay marked the start of the main Tenner Challenge competition month.
Results and Evaluation
The campaign engaged school pupils and teachers with Tenner on a brand new level, as all 10 schools turned a profit – making a staggering £4578.49 from a single £10 note through their combined enterprise initiatives.
In just four weeks we secured over 40 media articles across each of the ten target regions in additional to national media exposure with BBC Breakfast, BBC Radio 2 and BBC Radio Five Live. The impact of coverage saw Young Enterprise surpass their target totals for the competition with a 46% increase on school registrations and a 100% increase on new school registrations compared to the previous year.
PHA did a fabulous job with the Tenner Relay. They helped us construct a very clever strategic PR campaign to market our Tenner Challenge competition. It maximised the fun for young people, delivered millions of TV, radio and print opportunities to see at exactly the right time for our business. The number of schools signing up for this year leapt to 500, up 46% on last year. It helped attract 29,000 young people to take part and produced a lot of new leads that we believe will help us expand the charity's work.