Thursday, March 21, 2013

Can ING convince people to start saving for retirement?


On Tuesday, The Wall Street Journal ran yet another in a seemingly endless parade of articles about the fact that Americans are not saving enough money for retirement.  The front page story indicated that 57% of US workers reported less than $25,000 in household savings.  (Greene & Monga, 2013)

This is hardly new news.  But what I have yet to see is any research explaining why.  And without that insight, financial companies continue to struggle to motivate consumers to change their habits.  The newest effort in the category, brought to us by ING, introduces the concept of orange money.   According to Ann Glover, ING US CMO, the campaign is about prioritization, showing how sensibly managing personal finances doesn’t mean you have to give up living. (Irwin, 2013)

 Here’s one of the commercials which will run heavily on March Madness programming. 




What do you think?  Will it be successful in getting more people to consult with ING and save for retirement?


Greene, K. & Monga, V. (3013, March 19)  Workers Saving Too Little To Retire.  Wall Street Journal p A1

Irwin, T. (2013, March 15)  ING Effort Highlights Saving For Retirement.  mediapost.com.  Retrieved March 20, 2013, from

3 comments:

  1. I'm not sure how effective the strategy will be because I'm not quite the target. (The last thing on my mind as a 26 year old female is saving for retirement.) But I do like the advertisement. I like the orange money that will go towards future retirement vs. the regular green money that we use for present-day goods. ING commercials have been around for a while--and everyone knows them specifically because of their bright orange lion logo. However, I'm not sure if the trend will improve in saving for retirement from this specific commercial. People can hardly afford living expenses today--let alone think about the future, after the recession we've been thru. I'm not sure what ING should do. The only thing that makes me think about saving for retirement are consultations through my workplace. Possible future ING partnership with companies? (I'm not sure if that exists already--ING helping people at companies with their IRA?)

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  2. I thought this ad was about grills and not about saving for retirement. The definition of orange money is not very forward, so the ad isn't clear. When saving for retirement, it's a good idea to have a financial consultant. Perhaps, ING should create a commercial that explains orange money a bit more and have consultants offering their assistance.

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  3. This ad is about living within your means. ING is trying to sell that through orange money. Saving money is hard and boring to talk about so I don't know how effective this will be.

    Susan DiBello

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