Early retirement planning is unheard of in India, in fact retirement is not something young people plan for, it’s only when you get into your late 40s that a few realize the importance of retirement planning. What do young people plan for then? They certainly do plan for holidays and how to collect funds for that vacation planned next year, how to crack the best deals on their stay, flights and more. In fact, planning for a vacation is much more fun, than planning for retirement!
Insurance brand, HDFC Life has taken a cue from this for the promotions of its retirement plans. The brand has launched a campaign that positions ‘retirement’ as one’s ‘longest holiday’.
The film conceptualized by Leo Burnett India features this young couple on a vacation with their two kids. The kids and their parents are on see saws, as the wife starts remembering her childhood days. She compliments her husband on his smart decision to have had planned this vacation well ahead. But what will happen when their kids grow up and move away.
Their conversations go towards retirement planning, as the husband explains about planning for their ‘longest holiday’ – their retirement, a time when they can take two vacations a year
Social media is being used to amplify the idea behind the campaign. The brand is making use of #2ndInnings to convey that retirement is like a second innings in life and planning for it is equally important. There’s also a quiz to drive engagement, where users can find out what they should do after retirement.
— HDFC Life (@HDFCLIFE) January 3, 2016
— HDFC Life (@HDFCLIFE) January 19, 2016
— HDFC Life (@HDFCLIFE) January 20, 2016
— HDFC Life (@HDFCLIFE) January 21, 2016
Cool concept meets good execution
HDFC Life is making retirement a talk-worthy topic amongst younger consumers through its latest campaign. Likening retirement to a ‘long vacation’ is a cool plug to appeal to the younger generation, one that could be an emerging consumer base for the brand’s retirement plans.
The conversations created on social media are engaging as well as help drive awareness around its retirement plans. These could be informative too – as to what are the benefits of joining a plan now than later. The buzz is further held together by a cohesive hashtag but #2ndInnings is also too generic, and the brand would need to do a lot more to own this particular hashtag at least till the duration of the campaign.
Visuals in the form of doodles and cartoons are more appealing than its earlier visuals shared on social. All in all, the brand conversations are compelling one to think about what they will do after they retire. At least, it’s got me to think about planning for my retirement!