Shlomo Benartzi's Work With Idomoo

Shlomo Benartzi works with idomoo, the personalized video company, to create highly engaging content that helps people make better financial decisions. One recent video encouraged employees to increase their annual savings rate. After watching the video, 45 percent of viewers clicked to take action, which is roughly 4.5 times higher than the industry average. (80 percent of viewers watched the entire video.) There are three main drivers behind these results. The first is the use of personalization, which ensures that the videos are engaging and relevant to users. In a world full of generic content—the typical person receives hundreds of messages per day—personalization allows these videos to stand out. The second driver is the use of salient examples to bring the numbers to life. For instance, in the video referenced above, Benartzi used pictures of different sized homes to illustrate the impact of an income shortfall in retirement, and to encourage people to boost their savings rate. Finally, the call-to-action at the end of the personalized videos make it extremely easy for people to take action and increase their savings rate. In the digital space, companies such as Amazon have made it incredibly painless to spend money, utilizing nudges such as “one click” purchasing. Videos like this make it just as effortless to save.