The Challenge:
Voya faced both a challenge and an opportunity. Participation among women in its ADP TotalSource Retirement Savings Plan was low. Of the 200,000 women eligible for the employer-sponsored plan, over 63,000 were not participating, and the more than 41,000 actively participating were contributing less than 10% of their salary, equating to lower account balances.
The Insight:
Research found the issue for women was a lack of confidence in investing for retirement. They viewed their path to saving as an obstacle course, one in which they earned less than men yet lived longer, spent less time in the workforce, served as primary caregivers to children and parents, and paid more for goods and services than men.
The Solution:
The Rebellion Group created the “Invest in You” program -- a methodical, sequential campaign featuring bite-sized digestible messages -- designed to increase awareness, offer education, highlight the overall benefits of program participation, and communicate how easy it is to sign up and participate. What truly set the program apart was its tone and messaging, which focused on empowerment, self-satisfaction, and peace of mind. It was about investing in yourself and making a small change for a lifelong benefit, and about how simply it could be done.
The Results:
The campaign clearly resonated with its target audience, resulting in 3,000 new enrollments and over 2,000 participants either starting income deferrals for the first time or raising them significantly. In terms of impact, Voya’s initial investment yielded a year 1 gross total of $15.3 million, for a ROMI of 15,496%. That’s not a typo. The total lifetime value (LTV) per participant, based on an LTV of 5 years and static conditions, is estimated to be over $17,000 per participant.
3,000
Enrollments
$15.3M
Voya’s initial investment yielded a year 1 gross
15,496%
Return on Marketing Dollars Invested
