To Reach DC Plan Sponsors, Tap The Wall Street Journal

Fact-Based Trends from Cogent Reports™    

Dozens of 401(k) plan providers are striving to increase awareness of their brands among plan sponsors, who are the ultimate decision-makers when hiring and firing plan providers or even initiating putting a DC plan out to bid. Advertising is a common tactic used to boost brand recognition, yet only 27% of DC plan sponsors recall seeing an ad for at least one of the 34 leading plan providers over the past six months. Part of the reason may be that the
ads are running in the wrong place.

Plan providers courting new business often turn to trade publications and websites to tout their recordkeeping capabilities among a targeted audience. Yet when we asked plan sponsors which print publications they read over the past six months, specifically for 401(k) best practices or 401(k) service providers, nearly half (49%) cite The Wall Street Journal. In comparison, just 13% point to Employee Benefit News and only 10% report reading PLANSPONSOR magazine.

Moreover, when asked to identify the online publications they viewed over the same period, wsj.com is just behind bloomberg.com as the most frequently cited website (30% and 32%, respectively). The New York Times, both print and online editions, is another common resource among plan sponsors, far ahead of trade-related publications such
as Pensions & Investments and HR Magazine.

The bottom line for plan providers is this: think broadly for your ad placements. Plan sponsors are consumers like everyone else, and the best way to increase awareness of your brand is to target the media properties plan sponsors are already reading.

For more information and findings from the Retirement Planscape report, download a replay of our webinar, Upping Engagement with 401(k) Plans.

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This entry was posted in Brand and Messaging, Financial Services by Linda York. Bookmark the permalink.
Linda York

About Linda York

Linda York is a senior vice president in the Syndicated division where she leads the Wealth Management Syndicated Research & Consulting practice. She has over 20 years of experience in financial services spanning responsibilities in finance, marketing and business strategy. Before joining Market Strategies, Linda was the practice director of Syndicated Research at Cogent Research, where she managed the product development and execution process for syndicated research projects and consulted with dozens of clients in the retail and institutional wealth management space. She earned an MBA in marketing from the University of Connecticut and a bachelor’s degree in mathematics from Mount Holyoke College. Linda is an avid equestrian and a two-time finisher of the Boston Marathon.

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