No words needed. Grab a handkerchief before you watch this...
This is a difficult product to market because it belongs in the unusual and small category of products you buy not for yourself but for other people. Also, this service does not provide instant gratification which makes it a class on its own.
As they say, the only 2 sure things in this world are taxes and ... Why gamble on something that will definitely happen? Why not prepare? Beats me.
Hyper 2 Students- Do you think the approach is effective? Was it effective enough to motivate you to act? Or was it just another useful to know but I remain unconvinced communication failure? Pls. comment below.
Paying for a product that you don't receive anything in return soon and you don't get to enjoy it yourself is difficult to market. The objective should be clear, there should be realization and compelling reason for the audience or target market to act on it. From the approach done by Prudential, it indeed touched a nerve within me, but still, we can be stubborn at times, and that's where persuasion & sustaining the communication would have to come in.
ReplyDeleteIt's always difficult for people to pay for something they dont see the imediate effect or investing in something you will not receive anything in return. This advertising campain is effective in the way that you understand well the importance of giving something to your family before you die . But a TV-ad is not the best way to target your market , a direct approach would have been more effective
ReplyDeleteThe approach perse, that is to connect it to a real life situation where many can relate, I believe is an effective way to convince people to buy the product. The execution though is a bit elusive. First, it was too long, many would be lost somewhere in the middle already. Second, yes it will make you shed a tear but mainly because of the concept of a fatherly love. It could have been more effective if the son went through a difficult time financially after the lost of his father. I guess that would have more impact as to communicating the importance of the product. Lastly, there was no information in the start or in the end as to how to get the product. This is where I guess Fritzie's point comes in, sustaining the message. If we let a second pass without having to inform the audience how to get a product when we already built the message, is already a communication failure. Two seconds will pass and they forget the feeling, the importance, the product. Customer lost.
ReplyDeleteThe campaign done by Prudential help viewers realized the importance of ensuring the future of your family even if you die. But such campaign may tough one's heart but it does not motivate or give a compelling reason for me to act. With such product, I do believe that I much personal marketing strategy be done so as to know the concern, needs and wants of the target market and matched that concern to the products Prudential is offering.
ReplyDeleteI could not convince my husband to buy an insurance plan for us. I tried different approaches but still he would not even listen. One time my aunt who was a Sunlife financial advisor talked to us and in that one meeting, we signed up. Why? Because, aside from the insurance plan it is also a retirement plan. We get to benefit when we're both old, if we die before that, our beneficiaries can claim the benefits. Although the video is very touching and an eye-opener, it is not compelling enough for us to act. I think if the product is good enough, it will speak for itself, the advertisement is just for your information.
ReplyDeleteTechnically, I was moved by the video mainly because of the fatherly love to his son, and how he wanted things to be prepared for him. However, I think that it doesn't convince the viewer to purchase and pay the product. It's more of an informative advertisement rather than something that will motivate the market. Also, a product that will be beneficial in the future should be advertise and promoted personally, discussing the benefits and other perks of the insurance that would suits the needs of the market.
ReplyDeleteI agree that the video has done effective in delivering the message to what the product is all about. BUT, it was not effective enough to motivate consumers to act. Buying a product in which you yourself wont benefit is too hard to do. This definitely needs a follow up through personal persuasion in order to realize more of the benefits.
ReplyDeleteThe video is really moving and showed the importance of the product. It's not effective, though, in promoting what the company is offering as all other insurance product is like this, you buy it but you're not going to use it. It would have been better if they showed how their product differs from other insurance.
ReplyDeleteTouching Ad.. one of the creative ways in convincing customers is touching the hearts, aside from the minds.. i think that the creators of this ad has done their homework in creating an effective marketing campaign.
ReplyDeleteThe moment I saw the title of the blog, the word Prudential on the title of the video, and a screen capture of an assumed image of a father and son, I can already guess that it is an ad for insurance.
ReplyDeleteAs you said, no words needed. The material was predominantly consisted of well blended images and music at different life stages. It would be good to know what the dialogue between the father and the son at the end was to determine if it wraps up the message.
I think the approach is effective in communicating the message for the need of having a life insurance. Motivating someone to act will depend on your intended audience (culture, financial awareness and readiness, etc.).
The material is long at over 6 minutes. This supplemental material is best for personal marketing and closed-door seminars where a resource person can further educate the potential customers, provide the next steps and follow through to seal the deal.