By Burr Johnson (Senior Copywriter)
During my first big-agency copywriting stint, I found myself working simultaneously on a fading, regional ski resort and a 401(k) campaign for a financial services powerhouse.
For a junior writer, the ski resort was all fun: billboards, small space print, radio. The 401(k) campaign seemed like all work: print and a huge supporting campaign of one-to-one communications and collateral. The ski stuff had no restrictions; the financial campaign seemed like nothing but.
Looking back, the 401(k) campaign is stronger. Maybe because we were in fact working with so many regulations, we had to dig a little deeper. I like to think that the ideas, the primary headlines, and even the simplicity of the art direction, all hold up, and could even work today.
I learned some things working on that campaign that I keep in mind whenever I work on financial services, and that are worth noting for anyone tackling copy in a financial campaign.
1. KNOW THAT MONEY’S A LOADED ISSUE.
Whether you’re selling a retail checking account or re-introducing a financial brand, you’re almost always asking someone to consider a really loaded issue: money.
The more that’s at stake, the more loaded the issue, which is why people make really irrational financial decisions. In fact, there’s an entire school of thought around this called behavioral economics, which we work with at Wilde.
So consider your tone accordingly. Be transparent. Work to demystify and gain trust. Look for the simple truths in the financial situation, and find new ways to humanize them in a market that’s sure to be crowded.
2. STEER CLEAR OF STATS.
Financial campaigns can often be supported by numbers, rates and percentages. But there’s plenty of evidence that people shut down on statistics and exclude themselves from facts and percentages that they don’t want to contend with.
For instance, if you tell someone that they’re among the 67% of people who haven’t saved enough for retirement and what they can do about it, they may tell themselves that this doesn’t pertain to them and that they’ll find another way. This is a behavioral science principle known as Optimism Bias.
Rather than statistics, people are interested in other people, and in themselves. So find ways to tell a story or bring a case study to life. One team at Wilde created new vignettes for a financial client using photography, voiceover and music to make animated GIFs. Even better, ask customers to imagine or tell their own story.
3. ASK YOUR TARGET TO TAKE A SINGLE STEP.
Big financial decisions, and even not-so-big ones, can seem overwhelming, and can almost always be postponed.
Switching checking accounts means not only comparing look-alike offerings, but also choosing one and then re-establishing online bill paying. Rolling over a 401(k) means separating oneself from a former employer not only financially, but also emotionally.
So, break big decisions down into a series of manageable next steps. Troubleshoot each for its Cognitive Fluency — the sense of ease that people get from reading about it, thinking about it and taking action. Rather than confront your audience with a big financial issue, ask them to get started by joining a conversation or community, or by checking out some content.
Overall, look at your campaign as an opportunity to defuse and humanize the financial service and the decisions surrounding it. The more you do, the more that people can move toward them.
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