A personal approach for Saudi Aramco

The challenge

NCB Capital’s main client, Saudi Aramco, had a number of challenges facing them around engaging with members on their retirement  benefits with three distinct objectives in the short and medium term:

  • Increase plan participation by understanding the importance of saving and investment
  • Increase the rate of contributions among the membership
  • Reduce the number of withdrawals taken from the individual member’s retirement account

The solution

Mercer worked with NCB Capital to create a core story that would inform all engagement and communication materials but the key themes would include:

  • Sustainability of contributions and reduced risk of a poor retirement outcome, and
  • Security in retirement and value of the employer contribution to employees

The communication programme developed allowed us to bring together several communications channels, building a cohesive programme that made it easier for members to find the information they need, enabling them to make the necessary decisions and take the right course of action based on their personal profile.  We applied best practice principles to support the programme:

  • Use as many ways of communicating as appropriate – no single medium is better than any other
  • Make the communication relevant to the different segments of the membership 
  • Embrace digital channels appropriately
  • Keep messages simple and direct to address short attention spans 
  • Minimise the time lag between a member wanting to make a decision and being able to act
  • Use personas to help members relate to relevant content

The communication plan included:

  • An audit of the existing online member experience, with recommendations put forward on how the user experience can be enhanced to optimise member interaction with the content
  • Development of newsletters, investment and financial wellness guides
  • Teaser materials covering email, digital postcards and infographics
  • Personalised video targeting an increase in contributions
  • Personalised nudge emails with the insights informing future campaigns

The results

The communication campaign has had a significant impact on members’ understanding, awareness and actions. Some specific insights are shared below:

  • Email campaign one had an open rate of over 80%, with over 27% of members clicking to increase their contributions
  • Email campaign two had another open rate of over 80%, with 38% clicking on the guide. We used the insights obtained from campaign one to adjust the content layout plus delivery time of the second email, all helping to increase member interaction
  • The Personalised Video had a specific call to action, as we wanted members who weren’t paying 10% of contributions to click to increase their contributions. Over 73% of members opened the email, with 27% clicking to take action.  A fantastic result.