Our research found that it’s difficult to drive pension engagement through emails. Firms should try innovative approaches to encourage customer engagement.
Read Occasional Paper 65 (PDF)
Summary
The paper explains the results from research into whether a communication’s timing makes it more likely pension customers would engage with their pensions. The research found:
- Engagement with emails was low. While around 42-55% opened the emails just 1-7% clicked through to 'call-to-action'.
- Older customers were more likely to engage overall, but no key life point was particularly effective at increasing engagement overall.
- Following up with those already somewhat engaged with their pensions was more promising in driving further engagement and use of online services.
Authors
Cameron Belton, Mike Gilmore, Isaac Keeley, Gráinne Murphy, Jesal Dilip Sheth and Jackie Spang.
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