Background

Jackson wanted to better understand the optimal marketing strategy for their annuity products among U.S. investors by gaining a better understanding of:

• Retirement Income Needs;
• Expected sources of funds for retirement;
• Level of importance of each component of the annuity value proposition when planning for retirement;
• Retirement income product choices that solve for their retirement needs in context of competitive substitutes and annuities; and
• Key drivers and barriers to choosing annuities for their retirement income needs.

Target Audience

The target audience for this study were US investors who are close to or already in retirement, who are primary decision makers familiar with at least one retirement product, with investable assets within a certain range.

Approach

Advanis first used an online bulletin board exercise to capture qualitative feedback from US investors, specifically to identify "clusters" of types of investors based on their interest in Annuities as a retirement income product and to gather findings about their levels of interest, barriers, and drivers for annuities. These clusters were further explored and validated in a quantitative, web-based survey. Once completed, Advanis delivered a report to support Jackson's marketing strategy.

Business Question

What are the key messaging strategies that Jackson needs to optimally position their annuity products across different retirement income product investors?