Lincoln Financial Group learns to put insights first
Financial-services advertising has long been associated with inscrutable terminology, baffling acronyms and lengthy screeds of small print – all of which reflects the industry's needs, but effectively neglects those of consumers.
Describing products "inside out" has been a traditional hallmark of campaigns in the category, Jamie DePeau, corporate cmo of insurance and advisory company Lincoln Financial Group, told delegates at the 2014 Chief Marketing Officer Leadership Forum: Spotlight on Financial Services, an event run by the Argyle Executive Forum. "And no consumer wants that."
DePeau continued, "One of the challenges that we've had, as an industry, is that we like to tell everything about the products, as opposed to really focusing on the benefits. And I think that's part of the influence of product development and where marketing has historically sat in financial services."