dm_6260_funds_programmatic_final_sep data__v.5a

Fidelity Internal Information

1Contact Jeannie Cross at 3-6709 with further questions

► Funds Programmatic Wave 1 – Final Results DM 6260

September 2005 Data



$370

$1,002

$398 $339$47 $2$18

$173$41

Ov erall Div ersif ied EM Div ersif ied

DM

Non-

Div ersif ied EM

Non-

Div ersif ied

DM

Campaign Summary

Audience:• ENG customers with HH Assets >=$50K and with Fidelity Fund Assets

>=$1K, split by diversification

Desired Learnings:

• Which audience, creative, and channel combination worked best at driving lift in New Money, PCP$ and Fidelity Fund Net Sales?

Messages:

• Diversified Audience: Large Cap, Build A Strong Foundation

• Non-Diversified Audience: Large Cap, International Diversification, Core Funds

Call to Action:

• Increase flows into New Money, Fidelity Fund Net Sales, and Promoted Funds

Funds Programmatic Wave 1 (6260):Final Results

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$41

$370

$0

$500

$1,000

Fidelity Funds

Promoted Funds

$7M

$49M

Spend: $90,000Drop Date: 06/15/2005HH Mailed: 261,000Channel: Direct Mail & Email

Recommendations

► Continue to target the Diversified DM customers to efficiently generate New Money

► Use “Build On A Strong Foundation” messaging to the Diversified Audience as the champion message

► Encourage Non-Diversified customers to increase New Money rather than to just reallocate their assets within Fidelity

►Conduct message test for the Non Diversified Audience to increase New Money

The Diversified DM Audience performed best with lifts in New Money, Fidelity Fund Net Sales, and Promoted Fund Net Sales

Although the campaign showed no lift in New Money, it generated a lift of $370 in Fidelity Fund Net Sales and $41 in Promoted Fund Sales*

PCP$

Total New Money: No Lift

Avg. Lift In Fund Net Sales

Total New

Money

Avg. Lift In Fund

Net Sales

No Lift

No Lift No Lift

N~261K N~47K N~40K N~76K N~98K

One year payback = $4.50

No Lift

Fidelity Fund Net Sales

Promoted Fund Sales

No Lift

*Please refer to Slide 12 for a list of the Promoted Funds for this campaign



Detailed Results



PCP$

$0

$1

$2

$3

$4

$5

Avg. New Money

$0

$500

$1,000

0.0%

0.2%

0.3%

0.5%

Avg. New Money% HH w/ New Money

Funds Programmatic Wave 1 (6260): Campaign Results Summary

Overall, the Funds Programmatic Wave 1 campaign was neither effective nor efficient

Results:

►The campaign was not efficient and had no lift in New Money Flows

►The campaign had ($37M) in Exiting Money

►The campaign had lift in Fidelity Fund Net Sales of $370 and Promoted fund Sales of $41

Avg. Lift In Fund Net Sales

$370

$41

$0

$150

$300Fidelity Fund Net Sales

Promoted Fund NetSales

Total New Money: No Lift

1 year payback: $4.50

No Lift



$0.72

$0.23$0.36

0.94%

0.02%

0.80%

0.28%

1.00%

0.25%

$0

$1

$2

$3

$4

$5

Overall Diversified -EM

Diversified -EM

Diversified -DM

Diversified -DM

NonDiversified -

EM

NonDiversified -

EM

NonDiversified -

EM

NonDiversified -

DM

NonDiversified -

DM

NonDiversified -

DM

0.0%

0.3%

0.5%

0.8%

1.0%PCP$ % HH w/ New Money

Funds Programmatic Wave 1 (6260): Cell Performance

Total New Money:

% H

H w

/ N

ew

Mo

ne

y

*PC

P$

Performance by Cell

Mailed HH:

*Promotional cost is blended across channels

Messages:“Large Cap Story”, “Building On A

Strong Foundation”“Large Cap Story”, “International Diversification”, “Core Funds”

No Lift $11M $19M

n~261k n~23k

No Lift In PCP$

n~24k n~20k n~20k

$30M

n~26k n~25k n~25k n~33k n~33k n~32k

No Lift No Lift No LiftNo LiftNo Lift

No Lift In PCP$

No Lift In PCP$

No Lift No Lift No Lift No Lift No Lift No Lift No Lift

The Diversified DM audience was effective with $49M in Total New Money and efficient with a PCP$ of $0.28

► In the Diversified DM audience, the % HH with New Money was 0.26%

► The Diversified EM audience was effective as well, generating $7M in New Money with an efficient PCP$ of $2.35

► In the Diversified EM audience, the % of HH with New Money was 0.97%



Funds Programmatic Wave 1 (6260):Key Findings

PCP$

DM EM

PCP$

Diversified Non Diversified

Total New Money

DM EM

Total New Money


Does lift in Total New Money and PCP$ vary by audience?

► Yes. Overall, customers who received DM

were both effective and efficient,

generating lift in Total New Money of

$28M with a PCP$ of $1.72

► The EM audience overall did not

generate Total New Money efficiently

► Diversified customers generated $56M in

Total New Money with an efficient PCP$

of $0.54

► The Non Diversified audience overall

did not generate Total New Money

efficiently

No Lift

$0.54

No LiftNo Lift

$28M

No Lift

$56M

DM Audience vs. EM Audience

Diversified Audience vs. Non-Diversified Audience

$1.72



Avg. Lift In Net Fund Sales - DM vs. EM

$531

$188

$52 $29

DM EM

Fidelity Fund Sales Promoted Fund Sales

Yes. The Diversified audience outperformed

the Non Diversified audience, generating

lifts of $381 in Fidelity Funds and $105 in

Fidelity Promoted Funds

►The Non Diversified audience

generated lifts of $365 in Fidelity

Funds and $9 in Fidelity Promoted

Funds

►Within the Diversified audience, the

DM customers outperformed the EM

customers, generating lifts of $1,002

in Fidelity Funds and $173 in Fidelity

Promoted Funds

► The DM audience outperformed the EM

audience, generating lifts of $531 in

Fidelity Funds and $52 in Fidelity

Promoted Funds

►The EM audience generated lifts of

$188 in Fidelity Funds and $29 in

Fidelity Promoted Funds

►Within the Non Diversified audience,

the EM customers outperformed the

DM customers, generating lifts of $398

in Fidelity Funds and $18 in Fidelity

Promoted Funds

Funds Programmatic Wave 1 (6260): Key Findings

Avg. Lift In Net Fund Sales - Diversified DM vs. Diversified EM

$173$47

$1,002

Diversified - DM Diversified - EM


Avg. Lift In Net Fund Sales - Diversified vs. Non Diversified

$381 $365

$105

$9



Avg. Lift In Net Fund Sales - Non Diversified DM vs. Non Diversified EM

$339

$398

$2 $18

Non Diversified - DM Non Diversified - EM


When broken down by audience, Diversified vs. Non-Diversified, did lift in Fidelity Funds and in Fidelity Promoted Funds vary by audience or channel?

No Lift



Total New Money

Build On AStrong

Foundation

Large Cap -Diversified

Core International Large CapNon

Diversified

Total New Money - DM

Total New Money - EM


PCP$

$0.72

$0.36

$0.23

Build On a StrongFoundation

Large Cap -Diversified

Core International Large Cap - NonDiversified

PCP$ - DM

PCP$ - EM

►Yes, for Total New Money

► The ‘Build On A Strong Foundation’ message that targeted the

Diversified Audience was effective overall generating Total New

Money of $19M from the DM audience and $11M from the EM

audience

► The ‘Large Cap’ message that targeted the Diversified Audience

was effective, generating $25M in Total New Money from the DM

audience

► None of the three messages to the Non Diversified Audience were

effective in generating New Money

►Yes, for PCP$

► The ‘Build On A Strong Foundation’ message was efficient overall

with a PCP$ of $0.36 for the DM audience and a PCP $ of $0.72 for

the EM audience

► The ‘Large Cap – Diversified’ message was efficient overall with a

PCP$ of $0.23 for the DM audience and No Lift for the EM audience

► None of the three messages to the Non Diversified Audience had

an efficient PCP$

Within both audiences, Diversified vs. Non-Diversified, does lift in Total New Money and PCP$ vary by creative message?

No Lift No Lift No Lift

$11M

$19M

No Lift No Lift No LiftNo Lift in EM

$25M

Channels Diversified Creative Non Diversified Creative

Direct Mail, Email

Build On A Strong Foundation Core

Large Cap Story - DiversifiedInternational

Large Cap - Non Diversified

No Lift in EM



Funds Programmatic Wave 1 (6260): Learnings & Recommendations

Campaign Objectives/ Desired Learnings Key Findings Recommendations

► What was the Total lift in New Money and

PCP$ for the campaign?

►Overall the campaign was neither effective nor efficient

► Does Total lift In New Money and PCP$

vary by audience?

►Yes. Overall, DM customers were both effective and efficient.

► Generated lift in Total New Money of $28M with a PCP$

of $1.72

► Within DM audience, Diversified customers performed

best with $49M in New Money and a PCP$ of $0.28

► Within the EM audience, diversified customers had

$11M in New Money and a PCP4 of $0.72

►Continue to target the Diversified DM

customers to efficiently generate New

Money



Funds Programmatic Wave 1 (6260): Learnings & Recommendations

Campaign Objectives/ Desired Learnings Key Findings Recommendations

► Within Diversified/Non-Diversified

audiences, does lift in New Money and

PCP$ vary by creative message/channel?

►The “Build On A Strong Foundation” message that targeted the

Diversified customers was the best performer.

► Generated lift in Total New Money of $30M with an

efficient PCP$ of $0.50

►The “Large Cap Story “ message that target the Diversified

customers was also effective.

► Generated lift in Total New Money of $29M with an

efficient PCP$ of $0.59

►Non-Diversified customers were neither effective nor efficient

►Use “Build On A Strong Foundation” and

“Large Cap Story” as champion messaging

►Since Non-Diversified audience did not

respond notably, test different messaging

to this group to generate New Money

► What was the Total lift in Fidelity Fund

Assets generated from the campaign?

► Does lift in Fidelity Funds/Fidelity

Promoted Funds vary audience and

channel?

►Overall, the Average lift in Fidelity Fund Assets was $370 with the

Fidelity Promoted Fund Sales of $41

►The Diversified audience had a lift in Fidelity Funds of $381 with a

$105 lift in Promoted Fund Sales.

►The Non Diversified audience had a Fidelity Fund lift of

$365 with a $9 lift in Promoted Fund Sales

►The Diversified DM audience had a lift in Fidelity Fund Net Sales

of $1,002 with a $173 lift in Promoted Funds

►Repeat campaign to continue contributions

Fidelity Fund flows

►Due to success, continue funds messaging

to the Diversified audience

►Encourage Non-Diversified customers to

grow their assets at Fidelity rather than to

just reallocate their assets within Fidelity

through stronger messaging



Appendix



Funds Programmatic Wave 1 (6260):Final Results – Promoted Funds By Message

D. Core Funds – To Non-Diversified Customers

Fidelity Capital Appreciation Fund

Fidelity Export & Multinational Fund

Fidelity Equity-Income Fund

Fidelity Strategic Income Fund

Fidelity Total Bond Fund

C. International Diversification – To Non-Diversified Customers

Fidelity International Discovery Fund

Fidelity Emerging Markets Fund

Fidelity Europe Fund

Fidelity Pacific Basic Fund

B. Building On A Strong Foundation – To Diversified Customers

Fidelity Strategic Dividend & Income Fund

Fidelity Leveraged Company Stock Fund

Fidelity Mortgage Securities Fund

Fidelity Short Term Bond Fund

A. Large Cap – To Diversified and Non-Diversified Customers

Fidelity Capital Appreciation Fund

Fidelity Export & Multinational Fund

Fidelity Equity-Income Fund



►Overall, both the Diversified Audience

performed best

►In the Diversified audience;

►There were overall lifts of $56M in Total New Money with a

PCP$ of $0.54

►The DM audience outperformed the EM audience, generating

lifts of $49M Total New Money with a PCP$ of $0.28

►The EM audience had lifts of $7M in total New Money with a

PCP$ of $0.54

►In the Non Diversified audience;

►There were no overall lifts in Total New Money nor in PCP$


Audience Channel Lift

Contact

Method

Total New

Money

PCP$

OverallBoth

ChannelsNo Lift No Lift


Contact

Method

Total New

Money

PCP$

Diversified

Both

Channels$56M $0.54

DM $49M $0.28

EM $7M $2.35

When broken down by audience, Diversified vs. Non-Diversified, and Direct Mail vs. EMail, how did Total New Money and PCP$ vary?


Contact

Method

Total New

Money

PCP$

Non Diversified

Both

ChannelsNo Lift No Lift

DM No Lift No Lift

EM No Lift No Lift



►Overall, both audiences performed well at

generating lifts in Fidelity Funds and in Fidelity

Promoted Funds

►In the Diversified audience;

►There were overall lifts of $381 in Fidelity Fund Net Sales and

$173 in Promoted Fund Sales

►The DM audience outperformed the EM audience, generating

lifts of $1,002 in Fidelity Funds and $173 in Fidelity Promoted

Funds

►The EM audience had no lift in Fidelity Fund Net Sales and a

lift of $47 in Promoted Fund Net Sales

►In the Non Diversified audience;

►There were overall lifts of $365 in fidelity Fund Net Sales and

$9 in Promoted Fund Sales

►The EM audience outperformed the DM audience, generating

lifts of $398 in Fidelity Funds and $18 in Fidelity Promoted

Funds

►The DM audience had lifts of $365 in Fidelity Fund Net Sales

and $9 in Promoted Fund Net Sales



Contact

Method

Fidelity Fund

Net Sales

Promote Fund

Net Sales

Overall $370 $41


Contact

Method

Fidelity Fund

Net Sales

Promote Fund

Net Sales

Diversified

DM $1,002 $173

EM No Lift $47

Both

Channels$381 $105

When broken down by audience, Diversified vs. Non-Diversified, Direct Mail vs. EMail, how did lift in Fidelity Funds and in Fidelity Promoted Funds vary?


Contact

Method

Fidelity Fund

Net Sales

Promote Fund

Net Sales

Non Diversified

DM $339 $2

EM $398 $18

Both

Channels$365 $9



Funds Programmatic Wave 1 (6260):Final Results – Cell-Level

Descriptive Data Response IndicatorsLeading

IndicatorBusiness Results

GroupMailed HH’s

HH Targeted for Email

Email Open Rate

(Gross)

Email Click Through

Rate(Gross)

Inquiry

Rate

% HH w/ New Acct.

Total New

MoneyPCP$

% HH w/ New

Money

Avg. Lift In Promoted Net Sales

Fid Fund Sales

Non-Fidelity

Fund Net Sales

Total Lift In

Exiting Money1

Campaign Overall 261,000 123,000 33.52% 4.11% No Lift No Lift No Lift No Lift No Lift $41 $370 No Lift -$37M

Diversified HH’s - EM. 101 (A)

23,000 23,000 35.98% 5.10%No Lift

0.14% No Lift No Lift 0.94% $8 No Lift No Lift -$1M

Diversified HH’s - EM. 102 (B)

24,000 24,000 35.96% 5.79%No Lift

No Lift $11M $0.72 1.00% $85 No Lift No Lift $18M

Diversified HH’s - DM. 103 (A)

20,000No Lift

No Lift $30M $0.23 0.28% $67 $927 No Lift -$5M

Diversified HH’s - DM. 104 (B)

20,000No Lift

No Lift $19M $0.36 0.25% $280 $1,077 No Lift -$5M

Non-Diversified HH’s - EM. 105 (A)

26,000 26,000 32.14% 2.88%No Lift

No Lift No Lift No Lift No Lift $20 $308 $94 -$8M

Non-Diversified HH’s - EM. 106 (C)

25,000 25,000 31.16% 2.34%No Lift

No Lift No Lift No Lift No Lift $31 $449 No Lift -$12M

Non-Diversified HH’s - EM. 107 (D)

25,000 25,000 32.58% 4.61%No Lift


Non-Diversified HH’s - DM. 108 (A)

33,000No Lift

No Lift No Lift No Lift 0.02% No Lift $362 $130 -$4M

Non-Diversified HH’s - DM. 109 (C)

33,000No Lift

No Lift No Lift No Lift 0.08% $13 $221 $79 -$1M

Non-Diversified HH’s - DM. 110 (D)

32,000No Lift


1 A negative result is desired. This would signify the Treated HH had less exiting money than Control HH



Funds Programmatic Wave 1 (6260):Final Results – By Audience



GroupMailed HH’s


Email Open Rate

(Gross)

Email Click Through

Rate(Gross)

Inquiry Rate

% HH w/ New Acct.

Total New Money

PCP$

% HH w/

New Money

Avg. Lift Promoted

Fund Sales

Fid Fund Sales

Non-Fidelity Fund Net

Sales

Total Lift Exiting Money1


Diversified 88,000 47,000 35.97% 5.44% No Lift 0.01% $56M $0.54 $0.65 $105 $381 No Lift $7M

Non-Diversified 173,000 76,000 31.96% 3.28% No Lift No Lift No Lift No Lift No Lift $9 $365 $20 -$44M







GroupMailed HH’s


Email Open Rate

(Gross)

Email Click Through

Rate(Gross)

Inquiry Rate

% HH w/ New Acct.

Total New Money

PCP$

% HH w/

New Money

Avg. Lift Promoted

Fund Sales

Fid Fund Sales


Sales



Email 123,000 123,000 33.52% 4.11% No Lift No Lift No Lift No Lift No Lift $29 $188 No Lift -$12M

Direct Mail 138,000 No Lift No Lift $28M $1.72 0.09% $52 $531 $19 -$25M







GroupMailed HH’s


Email Open Rate

(Gross)

Email Click Through

Rate(Gross)

Inquiry Rate

% HH w/ New Acct.

Total New Money

PCP$

% HH w/

New Money

Avg. Lift Promoted Fund Sales

Fid Fund Sales


Sales



Diversified – DM 40,000 No Lift 0.07% $49M $0.28 0.26% $173 $1,002 No Lift -$10M

Diversified - EM 47,000 47,000 35.97 5.44% No Lift No Lift $7M $2.35 0.97% $47 No Lift No Lift $17M

Non Diversified – DM

98,000 No Lift No Lift No Lift No Lift 0.02% $2 $339 $49 -$15M

Non Diversified – EM

76,000 76,000 31.96 3.28 No Lift No Lift No Lift No Lift No Lift $18 $398 No Lift -$29M




Funds Programmatic Wave 1 (6260):List Structure

Campaign Name Funds Programmatic Wave 1Campaign ID: DM6260Version: 1.1Date: 3/29/05

Engaged, EmergingWave 1 HHs

Customerswith a

Valid EmailAddress

ContactHistory

Master MailmarkDM6259 cell 101

Customerswithout a

Valid EmailAddress

Diversified Target

(HH’s owning a Domestic EquityFund Position

-and-also an International and/or

Fixed Income Position)-or-

Owns >=3 *Core Funds

Email101-103, 107-109

Direct Mail104-106, 110-112

101 102 103 301 104 105 106 304

Customerswith a

Valid EmailAddress

Customerswithout a

Valid EmailAddress

Non-Diversified Target

(HH’s owning a DomesticEquity Fund Position

-and-Do not own an Internationalor Fixed Income Position)

-or-6259/101 and does not own

>=3 *Core Funds

107 108 109 307 110 111 112 310Cell StructureCell Structure

CriteriaCriteria



Creatives



Funds Programmatic Wave 1 (6260): “Large Cap Funds” - Diversified & Non Diversified

Did You Know? Recent trends indicate the tide may be turning for large-cap stocks.1

Quick Links Considerations for the foundation for your portfolio: Fidelity Export and Multinational Fund Fidelity Capital Appreciation Fund Fidelity Equity-I ncome Fund Looking for more guidance? Call 1-800-756-0892 for a complimentary portfolio review.

Dear Warren Kuh,

I f you're looking for investments that can help you better achieve your long-term financial goals, consider diversifying2 your portfolio with large-cap funds from Fidelity. Large-cap funds may also

Help you reduce investment risk. Create greater opportunity for long-term growth.

When choosing large-cap funds, you should consider both growth and value styles for greater diversification. Consider the funds at the left, or visit Fidelity.com/funds for a complete list.

With more than 600 investment professionals worldwide and no loads3 on any of our funds, there's no better place than Fidelity to get large-cap exposure for your portfolio.

To purchase or learn more about Fidelity's mutual funds visit us online or call 1-800-756-0892 today.

Sincerely,

J effrey R. Carney President Fidelity Personal I nvestments

This e-mail may be considered advertising under federal law. I f you prefer not to receive information about Fidelity products and services updates and information via e-mail, click here. http:/ /fidelity2.m0.net/m/s.asp?HB20140321519X1051422X623643



Funds Programmatic Wave 1 (6260): “Build On A Strong Foundation” - Diversified

Did You Know? Diversified investors may benefit by adding a fund with a specialized strategy.

Quick Links Determine if one of these funds can help your portfolio: Fidelity Strategic Dividend & I ncome Fund® Fidelity Leveraged Company Stock Fund Fidelity Mortgage Securities Fund Fidelity Short-Term Bond Fund Looking for more guidance? Call 1-800-756-9660 for a complimentary portfolio review.4

Dear Bruce Wickersham,

I f you're looking for investments that can help you better achieve your long-term financial goals, you may want to further diversify1 your portfolio. Diversification can help reduce risk and offer greater opportunity for long-term growth.

Depending on your current investment situation, there are a number of outstanding Fidelity funds from which to choose.

Consider:

Fidelity Strategic Dividend & Income Fund2 to leverage capital appreciation. Fidelity Leveraged Company Stock Fund to aggressively seek performance over time. Fidelity Mortgage Securities Fund3 to balance equity holdings and add more income. Fidelity Short-Term Bond Fund3 for an emergency fund or to save for a short-term goal.

By giving you access to more than 4,500 mutual funds from over 350 of America's most popular fund companies, Fidelity can help you round out an already-diversified portfolio.


Sincerely,

J effrey R. Carney President Fidelity Personal I nvestments

This e-mail may be considered advertising under federal law. I f you prefer not to receive information about Fidelity products and services updates and information via e-mail, click here. http: / /fidelity2.m0.net/m/s.asp?HB20140321551X1051422X623649



Funds Programmatic Wave 1 (6260): “International Opportunities” - Non Diversified

Did You Know? More than 70% of your investment opportunities are overseas.1

Quick Links Consider some of these Fidelity international funds for your portfolio: For your core holding: Fidelity International Discovery Fund For more international exposure: Fidelity Emerging Markets Fund Fidelity Europe Fund Fidelity Pacific Basin Fund Looking for more guidance? Call 1-800-756-0927 for a complimentary portfolio review.4

Dear Allan Gemme,

Today, worldwide economic expansion -- especially in developing countries -- means more growth opportunities for your portfolio. So, if you're looking for investments that can help you better achieve your long-term financial goals, consider diversifying2 your portfolio with international investments.

How much international should you have? We believe a long-term investor with just an above-average risk tolerance should have at least 15% of their portfolio in broadly diversified international1 funds.

With more investment professionals worldwide and no-load3 funds covering all regions of the world, there's no better place than Fidelity to get international exposure for your portfolio.


Sincerely,

J effrey R. Carney President Fidelity Personal Investments




Funds Programmatic Wave 1 (6260): “Diversify With Core Funds” - Non-Diversified

Did You Know? Spreading your money over different asset classes may reduce your overall exposure to risk.1

Quick Links Considerations for the foundation of your portfolio: Stock Funds Fidelity Capital Appreciation Fund Fidelity Export and Multinational Fund Fidelity Equity-Income Fund Bond Funds Fidelity Strategic Income Fund3 Fidelity Total Bond Fund3 Looking for more guidance? Call 1-800-756-7720 for a complimentary portfolio review.4

Dear Ronald Oorlog,

I f you're looking for investments that can help you better achieve your long-term financial goals, consider diversifying1 your portfolio with some core mutual funds from Fidelity.

Our core mutual funds can help you:

Minimize investment risk and maximize growth. Leverage investments in a variety of stocks and bonds.

Gain more exposure to different areas of the market.

Fidelity makes it easy to find the funds that are right for you, with more than 150 no-load2 Fidelity Funds to choose from.


Sincerely,

J effrey R. Carney President Fidelity Personal Investments


dm_6260_funds_programmatic_final_sep data__v.5a

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