Engagement behavior and financial well-being: The effect of message framing in online pension communication

Wiebke Eberhardt, Elisabeth Brüggen, Thomas Post and Chantal Hoet

International Journal of Research in Marketing, 2021, vol. 38, issue 2, 448-471

Abstract: People spend very little time planning for retirement, which could have negative effects on their financial well-being. To address this troubling lack of engagement, the authors posit that the use of goal framing, a marketing practice that involves making strategic adjustments to wording of marketing communications, in technology-facilitated communication (e.g., email) is effective for stimulating consumers’ behavioral engagement with pension information that is relevant for their long-term financial well-being. Field, online, and laboratory studies consistently show that a prevention-oriented assurance frame in technology-facilitated communication is twice as effective as a promotion-oriented investment frame for increasing participants’ engagement behavior. The findings have important implications for marketers and policy makers who seek to increase consumers’ retirement engagement behavior and financial well-being.

Keywords: Framing; Information acquisition; Pensions; Financial services; Engagement (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ijrema:v:38:y:2021:i:2:p:448-471

DOI: 10.1016/j.ijresmar.2020.11.002

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