The recent success of Dutch-based ING on the private pensions market can be attributed to one single character, who became famous over the four-month campaign that ended last week: the ING consultant.
Advertisements that featured the character were displayed on the streets, on underground transport, on TV, in newspapers and magazines, on the walls of beauty salons and in stadiums.
The campaign attracted 1.2 million clients to the pension fund, which makes ING Pensii (ING Pensions) the only player on the private pensions market to exceed its initial target of one million participants, which was announced at the start of the campaign.
Carmen Soare, marketing manager of ING Private Pensions, a key employee at the Dutch company, explained what enabled them to exceed their target, after the four-month fight for clients:
"We looked for a campaign that would enable us to stand out, and focussed on the consultant, which is the most important role. Due to the fact that all pension companies have very similar products (all regulated by law), we tried to differentiate ourselves through things outside of the actual product: via our consultants and by educating the public," ING Pensions' marketing manager recalls.
This happened in June last year, when they had to choose one advertising agency from 10, which all attended the pitch organised by ING.
In the end they chose Headvertising, the agency which, among other things, was involved in UniCredit Tiriac's advertising campaign immediately after the merger.
Daily meetings, debates, strategy proposals followed, and finally, they made their decision: ING started an extensive campaign to educate the public on the private pensions system.
"It was only natural for us to start our campaign this way, in the absence of such an initiative from the authorities," says Soare.
How did they find their clients?
"We decided the first clients to approach were the already existing ones, who had life insurance contracts with ING, and we contacted them through our consultants. We also had a call centre campaign that targeted our former clients," explained Soare
A very important role in attracting participants to the pension fund was ING's Internet presence, via consultanting.com, where those interested in the pension could fill in a form and request an appointment with a consultant.
"The online component was very significant, unlike other initiatives we have taken so far. In terms of the percentage of people interested in closing a pension contract, the online segment equalled and surpassed traditional channels of communication.
As a result, the potential of this channel is huge," said Soare.
She added that over 58% of individuals who met with an ING consultant signed private pension policies - almost double the volume against the life insurance market, where only 30% of individuals actually closed a policy.
ING's pensions campaign
ING is the only player on the private pensions market to exceed its initial target of one million participants
58% of individuals who met with an ING consultant signed private pension policies
The internet attracted 50% of interested participants
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