The UK pension marketing landscape has experienced a significant shift, with superannuation funds embracing advanced digital strategies to effectively engage their audience. We delve into the sophisticated tactics being employed by industry leaders to reach audiences at different stages of the marketing funnel.
Addressing common challenges
Across geographies, pension and super funds face similar challenges in engaging audiences who may not prioritise retirement planning. Individuals worldwide struggle with long-term financial planning, with BlackRock’s 2023 Read on Retirement Report indicating a 15% decline in retirement confidence since 2021. This emphasises the importance of tailored marketing strategies that address the informational needs and emotional concerns of diverse audiences globally.
“ The pensions industry has lagged behind in its use of social media to engage with savers, due to attitudes and time/cost constraints, but this is starting to change.”
Laura Blows, editor at Pensions Age, writes in an article about social media and finance institutions, “The pensions industry has lagged behind in its use of social media to engage with savers, due to attitudes and time/cost constraints, but this is starting to change.”
Engaging social media: Legal & General
Legal & General Pension utilises social media to disseminate expert insights on retirement planning, investment trends, and market analysis. It utilises platforms like like X and Instagram for raising awareness through engaging visuals and business updates while LinkedIn is used to provide expert insights to audiences in the consideration stage.
What sets it apart?
What sets Legal & General apart is its interactive approach. They actively respond to queries, conduct live Q&A sessions with financial experts, and organise virtual events, creating regular touchpoints with their audience. This dynamic engagement educates its audience and establishes a sense of trust and transparency.
Search marketing and website optimisation: Aviva Retirement Solutions
Aviva Retirement Solutions stands out for its comprehensive approach to search marketing and website optimisation, ensuring a seamless user experience for audiences across the globe. By focusing on relevant keywords and optimising its website content, Aviva ensures individuals searching for retirement planning solutions find valuable resources effortlessly.
What sets it apart?
The website features interactive retirement calculators, webinars, and thought-provoking blog posts on financial planning. Aviva employs personalised content recommendations based on user behavior, ensuring visitors find relevant information effortlessly. The seamless user experience contributes to increased user engagement and, ultimately, customer satisfaction.
Strategic traditional advertising: Prudential Pension Campaign
Prudential has successfully blended traditional advertising with a modern touch to engage a broad audience at various stages of the marketing funnel. Its pension campaign, aired across television, radio, and print media, leverages storytelling and real-life scenarios to raise awareness and foster interest among potential customers, ultimately guiding them toward consideration and conversion stages
What sets it apart?
Prudential understands the emotional aspect of retirement planning and has crafted advertisements that resonate with individuals on a personal level.
Beyond the conventional channels, Prudential has also integrated its offline campaigns with online platforms. This synergy enhances the overall impact of its marketing efforts, allowing Prudential to reach a broader demographic and reinforce its brand message effectively.
Harnessing the power of podcasts: Scottish Widows
Scottish Widows has embraced podcasting to deliver insightful content to its audience. By hosting regular podcasts featuring industry experts, it provides in-depth analysis, market trends, and expert opinions on retirement planning. This approach not only caters to the growing popularity of podcasts but also positions Scottish Widows as a thought leader in the pension industry.
What sets it apart?
The podcasts cover a range of topics, from investment strategies to the psychological aspects of retirement. Hosted live with a panel of impassioned experts, the content, people and host changes often keeping it engaging and fresh for audiences.
Pension marketing explained
In the UK pension industry, successful funds are those that understand the evolving needs of their audience and adapt their marketing strategies accordingly.
Laura Blows explains in her article on social media and finance organisations, “Pension schemes utilising social media need to tailor their approach on different platforms, for instance talking to younger members on TikTok and older members on Facebook.”
The ability to create a compelling narrative, provide valuable content, and target the audience at each stage of the funnel across multiple platforms is the driving force behind successful financial marketing.
