Jasper Martens, CMO at Pension Bee, discusses the challenges of managing pensions and the need for a simpler system. They explore pension consolidation and the problems of multiple pensions. The speaker also talks about delegating tasks, brand partnerships, and the importance of trust in a startup. They discuss the biggest challenge for Pension Bee and managing pensions and retirement. They explore the power of sports sponsorships and long-term brand investment, as well as the long-term benefits and customer referrals.
Pension Bee aims to simplify the pension consolidation process and help individuals take control of their retirement savings.
The pensions industry lacks clear retirement planning guidance, and Pension Bee seeks to bridge the gap by providing accessible information and tools.
Pension Bee invests in branding and trust-building efforts to establish itself as a reliable and trusted pension provider.
Deep dives
The challenge of pension consolidation
Pension B addresses the challenge of pension consolidation, allowing users to transfer and consolidate their multiple pension pots into one place. By providing a simple and streamlined process, Pension B helps individuals take control of their retirement savings and avoid losing track of their pensions.
The need for clearer retirement planning
Pension B highlights the need for clearer retirement planning and guidance within the pensions industry. Many people are unsure of how much they need to save for a comfortable retirement, and the industry has not done enough to provide accessible information and tools for individuals to make informed decisions. Pension B aims to bridge this gap and empower individuals to take control of their financial future.
The importance of brand building and trust
Pension B recognizes the significance of brand building and trust in the financial industry. By investing in marketing efforts, including sports sponsorships and TV advertising, Pension B aims to increase brand awareness and establish itself as a trusted and reliable provider. Building trust is crucial in encouraging individuals to choose Pension B as their preferred pension provider.
Promoting simplicity and transparency
Pension B focuses on promoting simplicity and transparency in pensions. Through their user-friendly app and online platform, they provide customers with clear information and tools to understand their pensions better. By demystifying pensions and making them more accessible, Pension B aims to break down the barriers that often deter individuals from engaging with their retirement savings.
Addressing the underserved population
Pension B acknowledges the underserved population in pensions, particularly for those with smaller pension balances. They aim to provide solutions that cater to the needs of individuals with all levels of wealth, bridging the advice gap and offering accessible guidance and tools for pension planning. Pension B seeks to make pension provisions more inclusive and reachable for a broader demographic.
In this episode, Rory meets Jasper Martens, the Chief Marketing Officer at Pension Bee.
Pension Bee launched in 2015 after CEO and Co-Founder, Romi Savova, who had previously worked at Goldman Sachs and Morgan Stanley, had difficulties transferring her own pension. Jasper reveals that many of their over 1 million new customers didn’t realise the tax benefits and contributions that come from having the right pension arrangements and why Pension Bee is now on a mission to make the process easier to understand and keep track of.
With brand awareness in the UK now over 50%, Jasper explains the biggest marketing challenge for Pension Bee and why they've sponsored a Premier League football team.
In the Top Two Challenges, Jasper talks about the future challenges for Pension Bee and the pension industry as a whole.
Quite apart from the marketing insights revealed, this conversation will give you food for thought about your own pension arrangements.