Lincoln’s Wozniak Takes Charge at Luncheon

On Thursday, April 19th, Dave Wozniak took to the podium to tell an audience of attentive FCS members and guests how valuable it is for people to take charge of their lives. As the head of advertising for Lincoln Financial, Wozniak cited research that showed that people who feel they are in charge are more likely to make effective decisions regarding their financial planning.

Research is a key imperative for the marketing team at Lincoln, a Fortune 250 company. Wozniak, who traveled from the company’s headquarters outside Philadelphia to speak at the FCS April luncheon at the New York Yacht Club, underscored the team’s integration of research in their planning and executions. “We use it all the way. We never do anything in a vacuum.”

Following the financial crisis, Lincoln’s research measured the great distrust people had for financial institutions and for financial advisors. But the company’s proprietary “Mood in America” study taken last November showed that people are now highly optimistic. For Lincoln, the study’s key insight was that people want to take charge of their future. Two-thirds of adults feel they’re in control of the Personal, Financial and Health decisions in their lives. Lincoln was able to validate that this group of “in-charge” people ideally suited both financially and emotionally as prospects for Lincoln's products. As the nation’s 2nd largest provider of life insurance and 4th largest provider of annuities, Lincoln is well aware of the challenges in selling products that people generally don’t wish to speak about, let alone make decisions about.

Wozniak explained that this research enabled Lincoln to create a new positioning – Lincoln would become the brand of empowerment, putting its clients in control. With its straightforward value proposition, “Lincoln helps people take charge of their future.”

Still, Wozniak recognizes the marketing challenges that Lincoln faces. Despite being a 107 year old company, the brand “Lincoln Financial Group” was established only 14 years ago. Furthermore, Lincoln has only a 5% share of voice in the marketplace.

To address these challenges while bringing to life its brand position, Lincoln evolved its 2007 “Futureself” advertising campaign into the new “Chief ___ Officer” creative which accentuates the “You’re in Charge” tagline. Wozniak described for the audience the various executions of Lincoln’s fully integrated campaign of 360° touchpoints, including a highly successful employee communications campaign.

Since Lincoln sells its products 100% through intermediaries, Wozniak emphasized the importance of increasing awareness. Again citing research, he noted that “a financial advisor’s sale is made that much easier when a brand is known and trusted.”

In addition to viewing commercials and print and digital ads for the audience, Wozniak presented a clip of an edgy commercial parody of Lincoln’s “Futureself” campaign which ran on Saturday Night Live. Wozniak admitted that, despite drawing much internal concern at Lincoln, the parody brought a significant amount of brand awareness to the company and confirmed that its “Futureself” campaign had broken through the category clutter and made a memorable impact.

Wozniak proved that Lincoln’s marketing team knows how to take charge of an opportunity as well.