I had no idea @prudential existed until today (and this post is not sponsored by them in any way) but apparently they have a series of Instagram-specific ads targeting younger workers. They even have some that reference early
retirement. Do you think they hit the mark?
While I found the ads amusing, the Prudential website itself still consists of the usual vanilla articles about retirement, annuities, and life insurance. So the products are the same old stuff, nothing new. I often wonder about the best way to help people to improve their financial situation. Will Fintech really make a difference? But I guess the first thing is to catch their attention.
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They have a huge billboard with this same exact thing on a super busy part of SR528 (a main highway in Orlando) near the airport. They’re going all in.
My initial reaction to this is that Prudential — an old line, higher cost investment/insurance provider — is trying to remain relevant, at least with their marketing/advertising, in the face of trends that are not in its favor. As Millennials and Gen Z consumers migrate toward options such as Acorns, Betterment, and Robin Hood — the notion of sitting down with a life insurance agent in their living room to be sold a whole life policy or annuity is probably laughable to most. As you indicated from looking at Prudential’s website, there’s nothing special or unique about their offerings — the same old same old. So they launch a Instagram campaign trying to cash in on the FIRE movement as well as pandering to the millennial backlash against the negative stereotypes that have for so long been aim at them. The thing is the traditional life insurance industry, against all logic, has a remarkable record of staying power. It will be interesting to see how this plays out.