Sign of a Good Decision

Vic Lipman from MassMutual speaks at the April Luncheon

The Model Room of the legendary New York Yacht Club is filled with exquisite yacht models and America's Cup memorabilia. And when it is filled with a teeming crowd of financial marketers, it is the sign of a good decision. The FCS was delighted when Vic Lipman accepted our invitation to speak at our April monthly luncheon, and we were thrilled to welcome so many members and guests from New York, Boston and the corridor in-between.

A veteran marketing and communications executive at MassMutual Financial Group, Vic Lipman has been with the insurance giant for more than 20 years. He currently manages MassMutual's national advertising program, plus branding, agency advertising and co-branding. At yesterday's FCS luncheon (April 23, 2009), Mr. Lipman began his presentation with a discussion of how the company's tagline "We'll help you get there" fulfills its positioning of helping consumers build and secure their financial future. Next, he reviewed the evolution of the company's ad campaigns over the past few years.

Beginning with a 30 second TV spot, Mr. Lipman discussed the "Front of the Mind" campaign, which was also supported in print. The creative addressed the notion that buying life insurance typically resides in the back of the mind, and not a priority for consumers. The campaign did indeed resonate well with consumers, Mr. Lipman noted, helping to significantly drive brand awareness. Yet, the campaign did not connect well with MassMutual's sales representatives, the financial professionals who the company's products. (MassMutual does not sell directly to consumers.) Recognizing the impact on this all-important constituency, MassMutual launched extensive research, including consumer focus groups and in-depth interviews with top sales producers and home-office executives. "Research, research, research," intoned Mr. Lipman for the audience. "We do a lot of it."

The research into the consumer mindset revealed that they "need help making good decisions," which became the genesis for MassMutual's current campaign, "The S ign of a Good Decision." Mr. Lipman presented a number of the print executions, noting that the campaign has proved to be extremely popular with sales organizations, who have ordered unprecedented quantities of reprints for their calling efforts.

Mr. Lipman is very pleased with the campaign, though he did note the company remains flexible in its messaging, prepared to change frequently in response to external circumstances. "Tailored messages are very important," commented Mr. Lipman, noting the company's desire to "remain fresh and resonant with" both consumers and sales teams. With the current economic downturn, Mr. Lipman noted, "We couldn't stay with just general brand messages." So the advertising copy was changed to "speak directly to the environment" and address decisions consumers would need to make, as affected by the economy. Mr. Lipman praised the creative work of MassMutual's advertising agency Mullen, noting how they need to constantly adapt ad copy to satisfy compliance and regulatory requirements.

Attending a truly worthwhile lunch presentation with a speaker of the caliber of MassMutual's Vic Lipman, and participating in the discussion and Q&A, is the sign of a good decision: being a member of the Financial Communications Society.