Building a Narrative for Financial Wellness Leadership
Prudential had established itself as a leader in “financial wellness” with their core audiences, but in 2018, ahead of their first direct-to-consumer product offering, the company was looking to expand their visibility. Prudential tapped Sharp to bring their financial wellness leadership to consumer audiences for the first time.
Prior to Sharp’s engagement, the term “financial wellness” had been used solely in relation to the workplace and employee benefits. To redefine the term more broadly and reach the average American consumer, we developed a comprehensive strategy that positioned personal finance as the missing piece in the holistic health and wellness category.
Understanding the emotional and mental implications tied to personal finances, our team identified Amanda Clayman, a financial therapist, to serve as Prudential’s first Financial Wellness Advocate and our primary spokesperson.
The team used Amanda’s expertise to bring Prudential to the forefront of financial conversations impacting American consumers today. Specifically, Amanda has contributed such topics as speaking to aging parents about their finances, tackling wedding season, working through money issues in a relationship, teaching financial literacy to children, and most recently, on how to cope with anxiety and stress connected to COVID-19, just to name a few.
In addition, Sharp used Prudential’s first Financial Wellness Census (the most comprehensive survey to-date on the state of Americans’ financial health) as a timely hook for outreach. It showed that one-third of Americans didn’t have an accurate handle on the state of their own finances. This statistic opened the doors for Prudential’s new consumer-facing financial wellness conversation to take center stage and ignite a nationwide dialogue.
The program has secured wide media exposure, with 75% of the national coverage included in consumer-facing media publications that were firsts for Prudential. Prudential put a strong stake in the ground and has subsequently emerged as owning the Financial Wellness conversation and establishing a foothold with new consumer audiences.