Identifying and analyzing social marketing initiatives using a theory-based approach

Purpose: This paper aims to provide an example of how to review information and social-marketing initiatives using financial well-being as a case point. Design/methodology/approach: Literature review and content analysis is used. The audience, channel, message, and evaluation framework is applied. Existent financial well-being initiatives are identified and selected, and further described and analysed in terms of their audience, channel, message and evaluation. The message is further discussed according to the transtheoretical model of change. Findings: Most financial well-being campaigns focus on a particular audience, use a multichannel approach to reach their audience, and report some evaluation, consistent with the audience, channel, message and evaluation framework. Message analysis shows that several initiatives address all processes posited by the transtheoretical model of change to trigger behavior change. Potential areas of improvement and boomerang effects are identified. Practical implications: Initiatives enhance their effectiveness by using theory, using proper segmentation and channel(s) selection, creating messages based on the audiences’ readiness for change and incorporating evaluation. Originality/value: Theoretical and practical insight regarding financial well-being initiatives has been achieved. Campaign designers can inspire from this example to conduct their own research and analysis of existent initiatives as one of the starting points in the process.