Customer engagement strategies need to consider developing the right messages (ideally eye-catching, succinct, accurate and relevant), via the right media and at the right time, to stand any hope of success. In the digital age, we are being bombarded with information, sales messages and warnings to take action, almost every hour of every day, mostly via our smartphone. It is into this space that the pensions world must jostle, via Apps and mobile responsive portals offering a combination of useful information and statutory documentation, via engaging ‘gamified’ apps and online tools designed to educate, inform and support good savings outcomes.
We are already beginning to see some of the fruits of innovation in online customer engagement tools such as the Aviva Saving Smarter financial profiling tool and adviser firm True Potential’s behavioural economics-led impulseSave tool.
Providers hunting for the right model for all- encompassing online customer engagement need look no further than the leading D2C platforms. There is no doubt that customer engagement is now much more than a buzz word in the pensions market. Good customer engagement strategies, well executed, will positively impact customer retention, new business acquisition and AUM numbers, all while keeping the regulator at bay.
Natanje Holt is managing director of Dunstan Thomas
Key Points
There are several developments which will demand that lines of communication are opened up with these policyholders.
The FCA is encouraging providers to get into proper two-way dialogue with customers.
There is increasing consumer expectation that providers should be able to give them a secure online view of their pension assets.
