Royal London are finalists for another award with Personalised Video

Royal London, the UK’s largest mutual insurer, has been announced as a finalist for another award this season, for their personalised video campaign, delivered in partnership with VideoSmart. The campaign is up for the Campaign Innovation Award at the Investment Marketing & Innovation Awards 2023, by Investment Week.

This campaign took home the gold award in the ‘Member Communications’ category at Benefits Guru’s Workplace Pensions Ratings in 2022 and has also successfully shortlisted for a further three awards at the European Pensions Awards 2023, for the: 1. European Pensions Innovation Award, 2. European Pensions Communication Award, and 3. Marketing Campaign of the Year.

The Investment Marketing and Innovation Awards celebrate the brightest minds and most innovative campaigns in the investment industry. Being named as a finalist is a true testament to Royal London's dedication to delivering innovative solutions to enhance the way they communicate and engage with their valued retirement customers. Judges from across leading financial institutions will be announcing the final award winners in July 2023 at the Award ceremony.

Personalised Video: A Game-Changer in Investment Marketing

In the ever-evolving landscape of investment marketing, staying ahead of the curve is crucial for financial institutions across the globe. Royal London is no exception to this, as the company has proven its commitment to continuously innovate and optimise its marketing and communications strategy, to deliver an engaging and accessible journey for customers.

The nomination for the Campaign Innovation Award is in recognition of Royal London’s Personalised Pension Annual Review Video campaign, delivered in partnership with VideoSmart – an award-winning personalised and interactive video agency in central London. With four present award nominations and one gold award under its belt since go-live less than a year ago, it is clear to see that this campaign is certainly capturing the attention of industry experts due to its top-tier-personalisation and heightened-level of accessibility thanks its use of interactivity and animation.

The traditional approach to pension reviews can often involve the use of complex jargon and a sometimes-overwhelming amount of paperwork. Royal London's video campaign breaks this barrier by presenting vital pension information in a digestible and visually engaging format. The combination of delivering personally relevant data, dynamically demonstrated, and concisely explained, ensures that customers can easily understand their pension performance and make informed decisions on the best next step to positively impact their financial futures.

The Campaign: Royal London’s Personalised Pension Annual Review Video

Royal London's personalised annual pension review video campaign has ushered in a new era of customer-centricity in the pension industry. By creating a seamless blend of technology and customer data, the campaign has transformed the way pension providers engage with their clients. It has set a precedent for other institutions to follow suit, encouraging the adoption of innovative strategies that prioritise customer needs and preferences.

The video includes up to 15 points of personalisation in both text and audio – for accessibility for all audiences. The video is unique to every Royal London Pension Plan member and includes a variable scene that is subject to their contribution method so that recipients follow a narrative in the video that is only relevant to them. The results of this pilot campaign were:

• A 53% uplift on industry average email open rates.
• A 328% uplift in industry average email click rates.
• 98% of videos played were ended.
• And the video received an average rating of 4 stars from viewers.

For further information, you can read the full case study on this campaign here on our blog.

Looking Ahead

We extend our congratulations to the entire Royal London team for their outstanding achievement and for being recognised as leaders in investment marketing. This campaign exemplifies the power of data-driven personalisation and demonstrates the potential for innovation to shape and enhance customer experiences. As financial institutions continue to adapt to evolving customer expectations, campaigns like Royal London's serve as a blueprint for leveraging technology and customer-centric strategies to drive meaningful change, ultimately empowering customers and shaping the future of investment communication.

Stay tuned as we eagerly await the final results of this award. We are confident that Royal London's incredible campaign will shine bright and secure a well-deserved victory!