Planning for retirement is something everyone should be doing, but many people avoid the task. They are either too busy with their daily lives or don't think they have enough money to begin or assume that they have plenty of time.
Whatever the reason, more businesses are looking at ways to enlighten people through marketing.
Go Modern with Social Media
Top retirement planning companies have learned to go where their clients or potential clients are: social media.
If they want to appeal to a younger, busier generation who is always on the go, they must utilize the latest marketing trends.
Social media is considered "cool" while retirement planning is often seen as boring. Companies like Vanguard are trying to "up the cool factor" by reaching out on Facebook and Twitter.
Vanguard has created a guide for its advisors to help them develop a strong presence on social media.
This guide helps them decide which platforms are most beneficial and how to manage the various platforms. It also provides best practices and guidance on compliance.
Get Involved with Apps
Today's investors are savvier than previous generations. They also are more protective of their money.
This leads to them being more involved in the investment process so that they know what is happening with their money.
As the following article shows, this is not an indication of mistrust, but rather a desire to be more involved with their future and retirement financial planning.
Fidelity has an app that provides easy access to portfolio management.
It allows clients to get more involved and track their accounts. They can even make trades and watch the market news. It instantly connects to customer support to get fast help or to have a question answered.
Appealing to Multiple Generations
In the past, many companies focused on one generation to get them involved in planning for retirement. Older generations may be dropped as they moved to fixed income or had more expenses.
Today, the Baby Boomers still have more discretionary income than their younger counterparts. What this means for financial planning companies is that they must continue to focus on the Boomers while seeking to appeal to the Millennials.
No longer can businesses have a one-size-fits-all approach towards marketing.
They must understand how each generation thinks and design advertising that is personalized. This is where Big Data and Real-time marketing finds applicability.
For the people driven by data, companies can appeal by stating statistics about how much it will cost to live in retirement or how money can add up over 40, 50 or even 60 years.
For those driven by emotions, they will be drawn in by the idea of living their lives in retirement independently and not being a burden to others or taking that dream vacation around the world.
Retirement planning is not on the forefront of everyone's minds, but the companies that are the most successful are finding ways to bring it to their attention.
They are utilizing the latest trends in marketing to win new clients and develop loyalty in current ones.