To get high net-worth individuals to feel the need to establish a trust, we needed to step back and understand what a trust really does.
Yes, a trust makes sure wealth is preserved, grown and transferred from one party to another in an efficient and effective manner. But relative to the person establishing the trust, it’s handing down their legacy. It’s their life’s work being passed on.
MassMutual needed a video that inspired that feeling of legacy in the mind of the target prospect: the high net-worth individual.
But how do we inspire someone to make a change, to look after their legacy? One option is fear (“Don’t let your family end up in court after you die!”), or to throw a bunch of data at them (“Did you know that x% of people over the age of 60 with a net worth of over $1mm don’t have a will?”).
None of those ideas were right and, frankly, wouldn’t inspire someone to make a change. The target prospect likely knows they should prepare for the inevitable. Our content needed to provide the emotional push to make the phone call. We needed to tell a story – to hit the heartstrings – to make the desire to change feel like it came from inside the prospect, not our video.
We started thinking about what a legacy is. Obviously, a trust takes care of the financial and legal parts of your legacy, but that’s often not what people really want to pass down to the next generation. People really want to pass down the ideas and values they hold dear, along with the money.
The word “values” started to stick out. We all have them; we all want our kids and grandkids to embody them because we know they work. The video concept began to take form: the story of a dad passing down a magic coin trick—the trick representing his values, the coin representing his wealth.
It’s been said that people only remember 5% of what you tell them in a piece of marketing, but most will remember how that piece made them feel.