Turning the biggest perceived barrier of Equity Release into it's biggest product advocate.
Equity Release is a product with a difficult reputation. It exists in a category full of shady propositions from unknown financial service brands. So it’s no surprise that many older people are fearful that it might lead to them losing their home and their children’s inheritance.
But Equity Release doesn’t deserve its reputation. Particularly when it comes from a trusted brand like Aviva. So we wanted to address people’s fears head on.
In these difficult economic times, parents are worried that taking out the money they need now will impact their children in the future. Of those that are unlikely to consider Equity Release, the largest group (42%) claim the biggest barrier is that they want to leave the full value of their property as an inheritance.
But, on speaking to their children, we found they were actually far less concerned about themselves than their parents might expect. In fact, they are hugely positive about their parents spending their own well-earned money as they see fit.
And seeing as Aviva’s Equity Release product allows them to safeguard a proportion of the value of your home for inheritance, we can remove parents’ worries entirely.
SO WE TURNED THE BIGGEST PERCEIVED BARRIER INTO THE BIGGEST PRODUCT ADVOCATE: WITH CHILDREN ENCOURAGING THEIR PARENTS TO LIVE A LITTLE.
This has injected emotion into what is traditionally a dry DRTV category. Dodging the usual tropes of washed-up celebs chatting over a cup of tea about a list of rational proof points.
We have used the children of our target audience to address the real feelings and concerns around the product and get parents talking about whether Equity Release is right for their family.
Our fully integrated campaign covered TV, Press, Radio, Digital, Content, and PR and has been running in the UK for over a year. The campaign was so successful it didn’t just beat the targets, it beat the revised stretch targets.
TOTAL NUMBER OF CALLS REGISTERED WERE 98% HIGHER THAN IN 2021 AT A 28% LOWER COST PER QUALITY CALL. WITH THE TV, RADIO, AND PRINT EXECUTIONS PROVEN BY FAR THE MOST EFFECTIVE CHANNELS - AS UNCOVERED BY THE ECONOMETRIC REPORTING - DISPELLING THE PRECONCEPTIONS THAT ACQUISITION IS DRIVEN BY DIRECT DIGITAL CHANNELS.