SAB Miller Lastminute.com International financial services Time Warner Global drinks business Insurance & investments |
Our client is one of the most respected financial services institutions in the UK and abroad with an enviable reputation for straightforward financial products and services and an award winning brand. Over the past 175 years they have built considerable operational expertise but recognised that marketing was underutilised as a strategic asset. We were asked to help quantify the efficiency and effectiveness of current marketing strategy and operations, to establish a clear direction and a set of prioritised programmes that would transform marketing. With a diversified business unit structure managing a set of discrete products and services and a comprehensive distribution network, our client was well positioned as a product developer and distributor. In many ways this 'set up' was no different to other financial services organisations. The issue simply was that such organisation is not well suited to delivering a consistent customer experience and makes it difficult to manage customer value, access and choice. Team of marketing staff working in different business units were not working in a common way, strategies, processes, organisation and information with respect to the customer and the customer experience were inconsistent and incomplete. The main challenges were:
| In just five weeks we examined existing business and marketing strategy, worked with senior executives and marketing thought leaders to identify strengths, weaknesses, barriers and enablers in the current operating models for marketing. We isolated the main challenges and developed six strategies to address them. We delivered a candidate 'Marketing Way', a template model to explain what 'good' might look like, candidate 'balanced scorecards', and a range of metrics an measures that could be used to build better operational and market insight. Working with marketing leadership we reviewed innovation, insight, strategic planning, 'activation in market and learning and renewal processes. We delivered an audit of existing marketing strategy, relationships, culture, organisation, process, information and technology and built cultural models to illustrate how marketing could be driven differently from a behavioural and attitudinal point of view. Our work included transformations required to develop opportunities in specific market segments and capitalise on emerging regulatory reform such as FSA dissolution, formation of the FCA, MMR and RDR. We are now helping our client to implement the strategies we helped develop and are beginning to see the benefits:
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