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시장보고서
Lincoln Financial and Standard Life Case Study: different approaches to engaging consumers with pensions
| 리서치사 |
Datamonitor |
| 발행일 |
2009년 07월 |
상품코드 |
96193 |
| 페이지 정보 |
22 pages |
| 가격 |
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Abstract
Introduction
This case study on Standard Life and Lincoln Financial Group forms part of
Datamonitor' s new series highlighting best practice in specific areas of
financial services.
Scope of this research
- This case study analyses the key successful elements in the marketing
strategies Standard Life and Lincoln Financial Group
- The case study examines how the brands have developed to its current
status and why they appeal to consumers so strongly
- Datamonitor' s Financial Services Megatrend Framework is used to analyse
the effectiveness of customer targeting strategies
Research and analysis highlights
Standard Life and Lincoln Financial Group have successfully identified the
increasing diversity of the baby boomer accumulator segment, and both have
invested in highly successful but different marketing campaigns aiming work up
some excitement about the potential the ' third age' holds.
Key reasons to purchase this research
- Gain insight into the methods used by important industry players to give
them a competitive edge
- Identify specific areas for operational improvements
- Capitalize on the knowledge of experienced companies when entering a new
niche or market
Table of Contents
DATAMONITOR VIEW
ANALYSIS
- Introduction
- Both Lincoln and Standard Life are cornerstones of their country' s
financial services world
- Standard Life and Lincoln are specialists in the retirement income space
- Both Standard Life and Lincoln have created innovative marketing
campaigns which address the changing concept of ' retirement'
- Both campaign appeal to a number of Megatrends but demonstrate
significant complexities
- The pre-retirement generation is growing in terms of both numbers and
influence As has been noted, both Standard Life and Lincoln have primarily
appealed to those approaching retirement (currently the baby boomer
generation), who have proven to be changing the face of retirement, with
their increasing numbers, increasing affluence, and increasingly diversified
wants and needs. Since sales of personal pension plans have been on the rise
over the last five years, this is an important growing market for insurers
to target.
- Other providers are moving their strategies in this direction
- Looking to the future
APPENDIX
- Data Tables
- Definitions
- The Datamonitor Financial Services consumer insight Megatrend framework
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
TABLES
- Table: Total new business premium providers in the UK 2008 by market share
- Table: Attitudes towards responsibility for providing for retirement in
the UK and US
- Table: Attitudes towards financial advice by country and age group
- Table: Attitudes towards thinking about retirement, by age group
FIGURES
- Figure: Both Standard Life and Lincoln have created strong
customer-focused brand platforms
- Figure: Total new business premiums in 2008 placed Standard Life as the
UK' s market leader
- Figure: Standard Life effectively employs the use of celebrity to promote
its ' Active Money' SIPP
- Figure: Lincoln' s TV advertisement encourages consumers to make an
emotional connection to their ' Futureselves'
- Figure: Lincoln uses an extensive online platform to guide consumer
through the future challenges they can plan for
- Figure: Lincoln has advertised in print next to crosswords
- Figure: Both campaigns target the same segment but appeal in different ways
- Figure: The majority of both UK and US consumers believe it is their
responsibility to provide for themselves in retirement
- Figure: Attitudes towards seeking professional advice before making
financial decisions
- Figure: 18 - 24 year olds are least likely to want to think about
retirement
- Figure: Standard Life' s Active Money SIPP website proves a convenient
website for time-constrained consumers to learn about the product.
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