As marketers of retirement and aged care products, our sales leads are often generated by consumers reacting to a life event (physical, financial or emotional) that has forced them to seek out our products.
A constant battle we face is encouraging our customers to “act now” rather than waiting for this incident to occur and our product becoming a grudge purchase.
Check out how Singaporean insurance and advisory company, NTUC Income, plans to inspire customers to start thinking more about their retirement plans.
The video (launched last week), encourages Singaporeans to take a step towards their own financial security so their children aren’t left with the burden of supporting them as they age.
The strategy was developed off the back of research revealing 66% of parents were concerned about having insufficient funds in retirement but would still sacrifice their retirement planning to spend on their children today.
The opening line … fabulous! A groom giving a speech at his wedding announces he grew up with “the worst parents in the world”. He even has a powerpoint to prove it!
Fortunately, the ad goes on to explain that if he had been given everything he wanted back then, he wouldn’t have everything he has now. He praises his parents for juggling their expenses and saving for their own retirement so that he and his new wife can focus on the steps they want to take rather than financially supporting his parents in their retirement.
The campaign The Best Gift for Your Child, runs until the 30 November across digital, social, cinema, TV and outdoor and we’re expecting good things.
Would this campaign message work in Australia? We think so!