Since 2017 Standard Life has been through a change of ownership and lack of investment which had meant it was seen as a functional brand with little brand loyalty. Although pension investment is generally a functional choice and often imposed on a consumer through a workplace scheme, nowadays people have multiple pensions which drives the need to consolidate with one provider. The decision about which brand to trust is often an emotional choice.
Following the acquisition by Phoenix Group in 2021, there was a need to raise awareness of Standard Life, inject some emotional attributes into the brand and have fun as a connected group of employees working towards a common purpose. Event sponsorship was seen as a way to build emotional attributes into the brand.
Cancer Research UK’s Race for Life is truly accessible with over 150 events across the UK bringing together whole communities of people so could help to position Standard Life as a brand that cares and provide the opportunity to build brand awareness. There is a synergy between the brands – Cancer Research UK are aiming to improve health outcomes for people and Standard Life is aiming to improve financial outcomes for people, which includes early access to their pension should it be necessary. Everyone deserves a life more certain, and working together, Cancer Research UK and Standard Life have a shared aim of providing better futures for everyone.
