Where’s the stratight talk and passion in our communications on retirement?
I get a kick out of the television and print advertising for retirement income solutions aimed at Boomers. It seems large financial companies are reluctant to explore some of the more troubling issues facing the Boomer generation, i.e. most will not have enough money in retirement and will be forced back into work.
I wonder if this institutional reluctance to portray retirement as anything other than a time to learn to snowboard or parachute serves the national interest? Or even the corporate Interest?
I recall a meeting I had a couple of years ago with a senior executive in charge of retirement services at a very large investment company. I quizzed this individual about her organizations highly-charged, over-the-top-in-optimism advertising campaign which struck me as a collection of messages that missed the point. She told me that the organization had carefully considered a communications strategy based upon direct and candid communications but that, institutionally, there was no appetite for saying anything that could be perceived “as a negative” no matter how factual. Wow. That’s leadership!
Let me make a prediction. The first big financial company that comes clean with the American public will see a very pleasant return on its advertising dollars. More than any time I can recall over my 30 years in financial services I observe that consumers want a shepherd. Shepherds lead, not with filtered spin but rather with straight talk and passion.
I have stated many times that the financial services organizations that triumph in the Boomer retirement security opportunity won’t be those with the “best products.” Rather, they will be those that are the best at passionately and candidly communicating their value. Will someone get on with it? America is waiting.
©Copyright 2007 David A. Macchia. All rights reserved.