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

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  • Eberhardt, Wiebke
  • Brüggen, Elisabeth
  • Post, Thomas
  • Hoet, Chantal

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.

Suggested Citation

  • Eberhardt, Wiebke & Brüggen, Elisabeth & Post, Thomas & Hoet, Chantal, 2021. "Engagement behavior and financial well-being: The effect of message framing in online pension communication," International Journal of Research in Marketing, Elsevier, vol. 38(2), pages 448-471.
    • Handle: RePEc:eee:ijrema:v:38:y:2021:i:2:p:448-471
    DOI: 10.1016/j.ijresmar.2020.11.002
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    3. Beere, Brendan & Byrne, Shane & Kelly, Jane & Pratap Singh, Anuj, 2022. "The Great Account Migration: Lessons from Behavioural Economics," Financial Stability Notes 13/FS/22, Central Bank of Ireland.
    4. Annemarie Hekken & Jorn Hoofs & Elisabeth Christine Brüggen, 2022. "Pension Participants’ Attitudes, Beliefs, and Emotional Responses to the New Dutch Pension System," De Economist, Springer, vol. 170(1), pages 173-194, February.
    5. Hollebeek, Linda D. & Belk, Russell, 2021. "Consumers’ technology-facilitated brand engagement and wellbeing: Positivist TAM/PERMA- vs. Consumer Culture Theory perspectives," International Journal of Research in Marketing, Elsevier, vol. 38(2), pages 387-401.
    6. Tommy Tanu Wijaya & Boran Yu & Fei Xu & Zhiqiang Yuan & Mailizar Mailizar, 2023. "Analysis of Factors Affecting Academic Performance of Mathematics Education Doctoral Students: A Structural Equation Modeling Approach," IJERPH, MDPI, vol. 20(5), pages 1-23, March.
    7. Muhammad Ilyas & Moeljadi & Achmad Helmy Djawahir, 2021. "The effect of financial knowledge and financial well-being on investment intention mediated by financial attitude:A study on millennial generation and Gen Z in Malang City," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 10(8), pages 175-188, December.
    8. Boukis, Achilleas, 2023. "Storytelling in initial coin offerings: Attracting investment or gaining referrals?," Journal of Business Research, Elsevier, vol. 160(C).
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