FSCS: Tackling Pension Protection Challenges

Action 

Through FSCS’ research data, they found that more than 43,000 claims were received by FSCS and customers reported losing £2billion from their pension savings. FSCS analysis also showed most claims for pension losses had come from men over 45 who make up four in five of the claims to FSCS.  

This audience we call the Resetters -  which is approximately sized at 3 million, across the North West, North East and Midlands in the UK.  

To address this issue, Hanover proposed a fully integrated media and social plan with the inclusion of a notable spokesperson to meet the objectives: 

• Engage Resetters and prompt them to think about their pension arrangements. 

• Make them feel concerned by the potential for pension loss but feel reassured that their retirement products can be FSCS-protected.  

In February this year, FSCS launched their overarching advertising campaign, which was phase one, aiming to raise awareness to check their pension is FSCS protected. The advert was themed around football to tap authentically into the target audience.  

With a sports theme underpinning the advert, FSCS were able to tap into a player fandom, whilst delivering a very important message on pension protection. To create a second burst, we complemented the advertising by securing a notable person who would deliver our campaign messaging in a relatable yet poignant way, making sure they had strong roots in football.   

Hanover undertook research to uncover a spokesperson, based on appeal to our target demographic and if they would resonate with our audience when discussing the importance of protecting your finances. After a lengthy due-diligence exercise, we selected Jeff Stelling.  

Using Jeff’s prevalent social and media presence to amplify the messaging, we created a unique story angle (harnessing the football messaging), producing a collection of video content assets. We created five social snippets to keep a consistent drumbeat of content once the campaign launched and provide a way to test and trial different messaging to see which performed the best. All copy harnessed the punny, football lingo to authentically tie the two brands together.  

Our social plan for FSCS owned channels strategically focused 40% on Facebook, 40% and the remaining 20% on LinkedIn, as although consumers aren’t naturally on this channel we knew it would be an appropriate to highlight to key industry players, such as the FCA and PRA (financial regulators), that FSCS are discussing the importance of pension protection and demonstrate to key stakeholders that they are tackling the issue face on. 

Impact  

To fulfil the campaign objectives, we optimised towards click-throughs to the FSCS website, where users could use the free and quick pension protection checker. As with the title of this campaign, we could not ignore impressions as ultimately, it’s about raising consumer awareness of FSCS and their protection limits. Our KPIs accounted for previous CA campaigns and wider promotions we have completed for FSCS, these were as follows:  

1. Twitter Organic – 0.20% & Twitter Paid – 0.35%  

2. Facebook/ IG Organic – 1.0% & Facebook/IG Paid – 0.40%  

3. LinkedIn Organic – 0.63% & LinkedIn Paid – 0.80% 

Through our integrated digital and media activity we achieved: 

• 5,876 click-throughs to the FSCS pensions protection checker website (with 776 users coming through to the checker on the launch day alone.) 

• 411 million opportunities to see across traditional media, broadcast and social (both paid and organic). 

• 117 TV and radio station coverage with strong BBC regional radio pieces. 

• 27 pieces of editorial coverage with 92.5% of these being in top-tier outlets. 

• 156,000 impressions and 500+ organic engagements from Jeff Stelling’s owned social posts. 

• Facebook CTR of 2.62% which is six times, the benchmark we set ourselves of 0.40% (based on 2022 consumer awareness campaign using Angellica Bell).