One of Canada’s largest insurance, investment and group benefits providers determined that the language and images of the financial services sector were not necessarily resonating with all target audiences.

We were commissioned to study this challenge and make recommendations that would improve the company’s marketing communications effectiveness.

We utilized two radical approaches to tackle this challenge. First, we developed one-on-one interviews that focused on Desires, Fears, Disappointments, Hopes and Aspirations though 90 minute face-to-face interviews. These interviews were supplemented by focus groups across the country. The second radical approach was the utilization of a proprietary Personality Profiling tool that segmented participants according to their pre-interview answers.

The findings were dramatic, insightful and game-changing.

The research confirmed that people can be categorized into unique segmented personality types, each with a different outlook on life, what they dream about and what they worry about. It further confirmed that personality types impact risk tolerance, planning behaviour and financial habits.

Some of the Key Findings and Implications included:

• People don’t wake up in the morning thinking about financial planning
• How individuals express their thoughts in terms of financial outcomes has everything to do with what’s in their hearts not their brains
• The language of the industry is not the language people understand
• Different personality types think about, express and act upon future planning in a manner consistent with their unique personality type

Not surprisingly, our recommendations around images and messaging in all consumer marketing has impacted their direction and success.