Effective brand engagement in the later life sector

There’s been some phenomenal marketing activity in the later life lending sector over the last 12 months, working hard to educate customers about the benefits it can provide and to engage them with the products and services available to them. May 25th 2022 saw the celebration of all this hard work at the inaugural Mortgage Industry Marketing Awards, hosted by Financial Reporter.

Related topics:  Later Life,  Special Features
Rachel Pease | Pure Retirement
6th June 2022
Rachel Pease Pure Retirement
"Examining their shifts in attitudes and priorities, we built a picture enabling the brands within our sector to effectively engage with their customers going forward."

At Pure Retirement, we were delighted to be one of the finalists in the category of Best Marketing in Later Life Lending, developing a brand engagement campaign for the over 50s market which led to our nomination.

Engaging the over 50s demographic has always had its challenges. They’re a complex group, experienced and astute with a lifetime of learnings, often discouraged by direct advertising and the idea of being ‘sold to.’ With so much in the media about their vulnerable nature, they can feel patronised by marketing and stereotyped by the stock imagery of elderly couples smiling off into the distance, disengaging them from the brands trying so desperately make that all-important connection.

So at Pure Retirement, we did some in depth research to get under their skin, exploring who they are today in comparison with the generations of the past. Examining their shifts in attitudes and priorities, we built a picture enabling the brands within our sector to effectively engage with their customers going forward. In collaboration with the Silver Marketing Association, we interviewed twenty experts in their fields, including heads of brand across multiple industries, specialists in the later life sector including the Centre for Ageing Better and the Advance Care Research Centre based at Edinburgh University, and the founders of successful start-up brands for their insights as to what works and what doesn’t when it comes to a successful brand.

The research focused on three key areas – firstly, the important things for advisers to consider when creating a brand from scratch and the things to get right from the outset, secondly, the ways to develop and evolve an existing brand in line with changing customer needs, and thirdly, a focus in particular on the over 50s age group, examining their motivations and the things that are important to them when choosing between brands.

The findings are available from Pure Retirement in a full report, as well as a shorter at a glance guide for advisers, which pulls out the key findings most relevant to supporting them in improving their brand positioning for their potential customer base.

It’s great to be able to share such up to date market insights with the sector as a whole, enabling more brands to engage with their customers and to effectively share the products and services which we’re able to provide for them. It’s wonderful that the research has been so well received and it was an honour to have it recognised as a finalist in the recent marketing awards among such incredible marketing talent. It’s so important that we continue to consider customer needs and effectively engage with them, growing our brands and our businesses to take the market from strength to strength.

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