Client
National Financial Services Firm
Case Study
A robust brand strategy engagement resulted in repositioning and a series of operational changes that have supported a financial services firm’s subsequent growth and the acceleration of business innovation
“Painful but inarguable. As always, deep and insightful work with tough but clear implications.”
Before
Targeting general population and government employees.
After numerous decades in business, the financial services firm had moved away from its core target market. It had softened its value proposition such that it was no longer crystal clear inside or outside the company.
After
Abandon general population target to concentrate on newly identified sub-target among government employees.
Marketing and operational changes resulted in accelerated sales growth for the company. Those outside the recommended target were dropped from marketing, and a single psychographic subgroup of millennials was identified as the primary marketing target.
Discovery: Marketing Targets Diagram
The “Motivated Delegator” millennial target was discovered to be the primary marketing target for new business acquisition, and we were able to pinpoint the most critical moment in the customer journey.
Primary Targets
A1 Motivated Delegator*
A3 Overwhelmed Doubter*
Tertiary Targets
J General Population
Secondary Targets
A2 Overconfident Idealist*
B Gen-X and Boomer*
C
D Retirees
E
F
G
H Children of Current Clients
I Advisors, Field Staff, and Employees
Inner “Primary Targets” ring: The customers the organization’s marketing resources should be directed toward
Middle “Secondary Targets” ring: The customers who will likely respond positively to the organization’s message even though they are not being targeted directly
Outer “Tertiary Targets” ring: The customers the organization should not pursue in any capacity
Brand Pyramid
1. What is the financial services firm?
We are the personal financial coach of government employees.
2. How does the financial services firm deliver its benefits?
- Personal coaching relationships
- Comprehensive planning met with individualized solutions and services
- Focus on families of a particular background
3. Why? (Emotional drivers)
I want …
- convenience & flexibility.
- proactive customer service.
- a firm that understands my field.
- to follow a budget and set financial goals.
4. Core Values
- Love
- Courage
- Effectiveness
5. Brand Idea
Effective Personal Coaching
Actions
- Value proposition clarification
- Brand strategy
- Brand council
- Marketing targets clarification
- Brand messaging
- Core Values
- Organizational alignment
- Market research
- Management consulting
