Many financial wellness programs are seen as “nice-to-haves” that exist purely to check the box of addressing the growing issue of consumers struggling with finances. As such, it is often the case that the primary focus on these programs is their promotion and getting users in the door.

When designing a financial wellness program, or for that matter any program designed to engage a specific population of consumers, it is tempting to focus on what comes first. Specifically, generating awareness, getting participants to sign up, and initial engagement are all vital steps to the success of any program. But once these have been successfully executed, organizations need to have a plan for keeping participants around.

Simply stated, financial wellness programs need to be designed around one specific question: what are the outcomes we want participants to achieve and how do we get them there?
LifeCents is designed to adapt each implementation to drive users to complete these desired outcomes. For example, a current LifeCents partner seeks to engage with users through educational content and the LifeCents community board to guide participants to save $400 in an emergency fund. With over 40,000 registrants to date, the numbers speak for themselves:

• Since launching the Community Board, users have engaged over 3,300 times.
• Users are engaging with our partner and other users on the community board approximately 206 times each week, on average
• As a community, users have saved a total of $1,322,741.41 since the program’s inception.
• On average, users have saved $313.89 each.

So, how were these outcomes achieved?

LifeCents focuses on creating sustained engagement with users through a series of high-value interactions. To create these interactions, we first focus on creating a personalized experience by asking a series of questions to create a holistic profile for each user and make recommendations accordingly. By designing the program to drive users to achieve attainable goals and complete specific actions, LifeCents has been able to provide a series of valuable, purpose-driven engagements to guide users towards these outcomes. Along the way, users also benefit from relevant financial education and resources to help them improve their overall financial health.

More about this approach can be found in our blog post about how Traditional Approaches to Financial Wellness Come Up Short.

For more information, or to learn more about how LifeCents can help you achieve your organizational goals, schedule a demo of LifeCents.

About LifeCents:
LifeCents is a financial wellness company that empowers people to acquire the knowledge, build the habits and gain the confidence they need to make smarter everyday decisions. Our wellness platform helps people become financially aware, savvy, and engaged, which is of great value to businesses and communities. LifeCents’ clients and partners include Fortune 500 companies, financial service providers, government agencies, nonprofits, and employers. For more information on LifeCents’ innovative approach to financial wellness, read why it works.