Pensions insight
are becoming immune to the ‘shock factor’ of these visuals, when they were first used they were designed to scare people about the damage they were doing to their bodies and their futures. Anti-drink-driving messages have tried to appeal to several different emotions – the shock of being in an accident; the guilt of killing or injuring others; the responsibility of preventing your best friend from getting behind the wheel when drunk; the regret and inconvenience of being banned from driving; and the fear of going to prison. A simple message saying, ‘Don’t drink and drive’ should be enough for anyone sensible, but the impact of emotional triggers is far more effective. Coca Cola’s name campaign On the lighter side, Coca Cola has almost never marketed itself by emphasising the taste or content of its drinks. Instead, it plays heavily on people’s emotions. Here’s one example. In 2011, Coca-Cola started putting people’s names on bottles and cans of Coke. The rational consumer knew that this was a marketing gimmick and that
the product was exactly the same. And putting ‘Dave’ on a bottle was hardly over- personal – there are probably millions of them in the UK. Yet some people still have their empty bottles sitting on a shelf, simply because their name is printed on pieces of plastic wrapper. ...companies need to be bolder if they Why did it work so well? According to senior brand activation manager Chris Ross, the campaign took a global brand and ‘made it personal to consumers’. People felt excitement and joy at seeing their name, and something as basic as printing a name on a can of drink engendered a sense of belonging – almost as if they were part of the ‘Coke family’. As people shared bottles with want to make a greater impact and encourage people to save more
friends’ names on them, it awakened feelings of connection and community. Translating this to pensions Let’s face it: pensions are dull for most people. They shouldn’t be, of course – saving for retirement is one of the biggest financial actions someone is likely to take. And when it comes to anything concerning money and lifestyle, there are enormous emotional issues involved. But the jargon, the legalese and the administration can be boring, and when you add people’s inbuilt reticence to think about things that might be nearly half a century away, it’s easy to understand why it can be so hard to engage people with pensions. Pensions are technical and there are so many rules and regulations around them, the communication that comes with it tends to be a bit bland and technical too. So perhaps companies need to be bolder if they want to make a greater impact and encourage people to save more. Perhaps it’s time for them to take a leaf out of the emotional-marketing book. After all, if the marketing of virtually everything else is about appealing to our chimps, it should work with this, too. n
Payroll for Scoish employees
Half day
In April 2018 following devolution, Scotland will apply its own PAYE tax thresholds. Our new Payroll for Scoish employees course will prepare payroll staff for these changes. Contextualising these changes using case studies and working examples, this half day course will focus on the following:
● The new PAYE thresholds ● Applying NICs ● Scottish Arrestment orders ● Childcare vouchers ● PAYE settlement agreements (PSA) ● Pensions (relief at source tax arrangements) ● Apprenticeship Levy
To book your place on this essential course, visit cipptraining.org.uk, email info@cipp.org.uk or call 0121 712 1000 for more information.
cipp.org.uk CIPP_UK cip .org.uk @CI P_UK
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| Professional in Payroll, Pensions and Reward |
Issue 41 | June 2018
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