Engagement behavior and financial well-being: The effect of message framing in online pension communication

People spend very little time planning for retirement, which could have negative effects on their financial well-being. To address this troubling lack of engagement, the authors posit that the use of goal framing, a marketing practice that involves making strategic adjust-ments to wording of marketing communications, in technology-facilitated communication (e.g., email) is effective for stimulating consumers' behavioral engagement with pension information that is relevant for their long-term financial well-being. Field, online, and lab-oratory studies consistently show that a prevention-oriented assurance frame in technology-facilitated communication is twice as effective as a promotion-oriented invest-ment frame for increasing participants' engagement behavior. The findings have important implications for marketers and policy makers who seek to increase consumers' retirement engagement behavior and financial well-being. (c) 2020 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).