Manulife’s Campaign Gives Singaporeans Wake-up Call to Take Charge of Retirement
Manulife Singapore has launched a new retirement-themed campaign to bring home an important message to Singaporeans – take charge of your retirement now and act before it is too late.
The campaign is inspired by survey findings from Manulife‟s Investor Sentiment Index (MISI)1, which showed that there were common misconceptions and behavioural issues about retirement planning. For instance, some tended to procrastinate retirement planning due to other priorities, thinking there was still time. Others knew there was a gap between their retirement savings and expenses but did not take action, choosing instead to avoid reality and hope that things would work out in the end.
Using humorous and emotive ads, the campaign seeks to educate consumers about these mindsets and motivate them to take charge of their retirement with the help of Manulife‟s retirement solutions.
The “Alarm Clock” ad features a young man who “sleeps” through the years of his life and ignores the wake-up calls from his alarm clock. When he finally wakes up, he has become an old man and it is too late to plan for his retirement.
The other ad, titled “Miracle”, shows a worried-looking young woman who prays for a miracle to grow the savings in her almost empty piggybank. Unfortunately, she is still praying even after she grows old and nothing has changed.
“Our recent MISI survey2 revealed some worrying findings. Although respondents‟ top financial concern was running out of money in retirement, only about half had started planning for retirement,” said Mr. Naveed Irshad, President and CEO of Manulife Singapore.
Mr Irshad added: “Planning for one‟s retirement may seem overwhelming but the key is to start now and take the first step, no matter how small it may seem. Through this campaign, we hope to use a lighthearted approach to motivate Singaporeans to take immediate actions to secure their retirement.”
The campaign will be rolled out across various platforms, from outdoor advertising on buses and taxis to print, online and mobile advertising. It will show consumers how to take charge of their retirement with Manulife‟s Retirement Solutions using a three-pronged approach:
1. Build Your Wealth – make your money work harder for you so as to keep pace with inflation and build your retirement nest egg
2. Protect Your Wealth – protect your retirement savings from rising medical costs as you grow older
3. Enjoy Your Wealth – set up a steady stream of income so that you can enjoy your golden years without outliving your resources
Educating consumers through informative content
To leverage Manulife‟s expertise in retirement planning, the company has focused on content marketing for this campaign, with the extensive use of print, digital, and video content to engage and educate consumers.
In particular, Manulife Singapore has partnered with AsiaOne, a leading online news portal in Singapore, to reach out to Singaporeans through a lifestyle microsite (brandinsider.asiaone.com/Manulife). Netizens can improve their financial knowledge with articles, videos and resources about retirement and financial planning. They can also submit questions through the portal and Manulife‟s Financial Planners will provide their expert advice on various financial topics.
Consumers can also easily compute their retirement number and find out if there is a gap in their finances with Manulife‟s online Retirement Calculator. The calculator is available in both English and Chinese on Manulife‟s retirement microsite (manuliferetirement.sg), along with other resources and self-help tools for retirement planning.
To encourage consumers to kick-start their retirement planning, Manulife Singapore is offering a special retirement promotion during the campaign period. Customers who sign up for selected Manulife retirement plans from 1 July to 30 September 2015 will enjoy premium discounts and stand to win cruise vacations and shopping vouchers in a lucky draw.