Challenger: Changing the ingrained investment habits of a generation
Author: Jon McKie
Total Campaign Expenditure: $5 – 10 million
Strategic communications challenge
"You've got your work cut out for you, annuities are marketing poison "
Malcolm Maiden, Senior Columnist (Business), The Age and Sydney Morning Herald
An annuity is a type of investment that in exchange for an upfront lump sum, makes regular payments back to you over a specified timeframe, which could be as short as a year or as long as the rest of your lifetime.
In 2010, fund manager Challenger decided to focus on providing annuities to retirees, distributing this product exclusively through third party financial advisers (FAs). 303Lowe was given the task of relaunching them to the trade channel and repositioning Challenger as a specialist in retirement income.