Bm512 b525 t5_l_v002

1. School of Business, Creative Campaigns, Topic 5 – LectureSchool of Business – Creative campaigns – Lecture 5 Creative Campaigns Brand and product portfolio management

2. School of Business, Creative Campaigns, Topic 5 – Lecture Brand portfolio management: Development and rationale of brand portfolios Strategic alignment of brand portfolios to customers Objectives/vision for brand portfolios Evaluating a brand portfolio Product portfolio: Developing a new product Managing the product lifecycle Evaluating product portfolios Customer value management Learning Outcomes

3. School of Business, Creative Campaigns, Topic 5 – Lecture Different commercial and customer objectives Unified by a common vision/purpose Vision for a brand portfolio

4. School of Business, Creative Campaigns, Topic 5 – Lecture Source: nVision Research “How much, in general, do you trust the following to do business fairly? | % who say very much or quite a lot | 2012 Let’s look at an insurance example… a trusted industry?

5. School of Business, Creative Campaigns, Topic 5 – Lecture Create distrust Creates Trust 1. Haggling 2. ‘Price Shock’ at renewal 3. Ignore loyalty 4. Lack of differentiation 5. Hidden and unfair charges 6. Guilty until proven innocent 7. Lack of communication 8. Rely on small print 9. Jargon & complexity 10. Depersonalised 1. First price best price 2. Fair renewal premium 3. Reward loyalty over NB 4. Differentiate for customers 5. Transparency 6. Pay then prove 7. Keep claimants informed 8. Spirit not letter of law 9. K.I.S.S. – natural language 10. Personal Claims Advisor The ‘Uncomfortable Truths’ of the Insurance Sector Building Customers’ Trust

6. School of Business, Creative Campaigns, Topic 5 – Lecture TO EARN CUSTOMERS’ TRUST EVERYDAY The portfolio vision

7. School of Business, Creative Campaigns, Topic 5 – Lecture “Businesses generate up to 90% of their profits from fewer than 20% of their brands” Aaker The Challenge – Building a Portfolio for the Future

8. School of Business, Creative Campaigns, Topic 5 – Lecture Core Non-Core Power Brand Power Brand Sleeper Brand Slider Brand Discarded Brand Soldier Brand For example: The DLG Portfolio

9. School of Business, Creative Campaigns, Topic 5 – Lecture Align your brands to customer segments

12. School of Business, Creative Campaigns, Topic 5 – Lecture 12 Align your brands to customer segments

13. School of Business, Creative Campaigns, Topic 5 – Lecture Brand differentiation in practise

14. School of Business, Creative Campaigns, Topic 5 – Lecture Promise Character Insight Substance Ambition Target audience Audience Insight Insurance Insight Pulling our brands apart…

15. School of Business, Creative Campaigns, Topic 5 – Lecture Portfolio evaluation: Key portfolio concerns

16. School of Business, Creative Campaigns, Topic 5 – Lecture MarketGrowthRate(CashUsage) Divest Invest or Divest?Invest Milk Low High LowHigh Portfolio evaluation framework

17. School of Business, Creative Campaigns, Topic 5 – Lecture Key challenge is to attract lower risk and more premium personal and business customers onto the book Brand Differentiation Product Augmentation Attracts Target Customer Customer Oriented Portfolio Development

18. School of Business, Creative Campaigns, Topic 5 – Lecture Let's now turn to product portfolios…

19. School of Business, Creative Campaigns, Topic 5 – Lecture Brand Propositions are built on the foundations of a solid brand Brand Propositions are built on the foundations of a solid brand Key Competitors Porters 5 Forces Key Competitors Porters 5 Forces Target Audience 5 Killer Questions Target Audience 5 Killer Questions Consumer Insight Deep rooted understanding of consumer and market ‘gap’ Consumer Insight Deep rooted understanding of consumer and market ‘gap’ Consumer Benefit Consumer Benefit Defining Attributes Defining Attributes Defining Features Defining Features Develop Total Experience Develop Total Experience How will you test the concept?How will you test the concept? 11 3322 44 55 66 77 88 99 10 steps to developing a proposition

20. School of Business, Creative Campaigns, Topic 5 – Lecture Customer Winning product plus experience that meets customer needs Commercial Properly priced to optimise the P&L within regulatory constraints Channel That can be delivered excellently from first touch to last The Trade-Off Triangle

21. School of Business, Creative Campaigns, Topic 5 – Lecture + Customer Insight Understanding your customers and their needs Market Insight Understanding the gap in the market A proposition built on a consumer insight

22. School of Business, Creative Campaigns, Topic 5 – Lecture Consumer insight in action – Dirt is Good

23. School of Business, Creative Campaigns, Topic 5 – Lecture Managing products over time

24. School of Business, Creative Campaigns, Topic 5 – Lecture Attract New to Industry Customers (New-New) Attract New to Industry Customers (New-New) Attract New Customers from Competitors (Switchers) Attract New Customers from Competitors (Switchers) Gain Incremental Value From Existing Customers Gain Incremental Value From Existing Customers By leveraging the marketing mix to execute the strategyBy leveraging the marketing mix to execute the strategy ProductProduct PlacePlace PricePrice PromotionPromotion HighestCost Activity LowestCost Activity Customer value management

25. School of Business, Creative Campaigns, Topic 5 – Lecture Customer value management

26. School of Business, Creative Campaigns, Topic 5 – Lecture Customer value management • Who should I target to give me highest value in the long term? • What should my maximum CPA be for these customers based on lifetime value (CLTV)? • How should I target these customers? • What proposition/offer should I use to target different customers (next best action ‘NBA’ decisioning)? • Who should I target to give me highest value in the long term? • What should my maximum CPA be for these customers based on lifetime value (CLTV)? • How should I target these customers? • What proposition/offer should I use to target different customers (next best action ‘NBA’ decisioning)? Underpinned by 3 core data driven componentsUnderpinned by 3 core data driven components HighCost LowCost Data & Analytics To drive campaigns, propensity modeling and next best action decisions Data & Analytics To drive campaigns, propensity modeling and next best action decisions Customer Lifetime Value To understand your most profitable customers to drive target customer decisioning Customer Lifetime Value To understand your most profitable customers to drive target customer decisioning Segmentation To determine how to target customers through deep understanding Segmentation To determine how to target customers through deep understanding • Who are my most profitable customer segments? • What do these customer segments look like? i.e. demographics, attitudes etc. • What should my ‘next best action’ strategy be for each customer? i.e. to cross-sell, up-sell or retention • How much should I spend on each activity? • Who are my most profitable customer segments? • What do these customer segments look like? i.e. demographics, attitudes etc. • What should my ‘next best action’ strategy be for each customer? i.e. to cross-sell, up-sell or retention • How much should I spend on each activity?

27. School of Business, Creative Campaigns, Topic 5 – Lecture Customer Lifetime Value Model Customer Lifetime Value Model Target consumers that are most responsive to comms/offer Target consumers that are most responsive to comms/offer Data & Analytics Propensity Model Data & Analytics Propensity Model Segmentation Model Segmentation Model Understand which customers, what product, what offer and when to cross- sell Understand which customers, what product, what offer and when to cross- sell Understand which customers, what product, what offer and when to up-sell Understand which customers, what product, what offer and when to up-sell Understand which customers, what product, what offer and when to retain Understand which customers, what product, what offer and when to retain Existing Customers Target consumers that give you most value Target consumers that give you most value Drive AdvocacyDrive Advocacy Customer value management

28. School of Business, Creative Campaigns, Topic 5 – Lecture End of presentation

Bm512 b525 t5_l_v002

Bm512 b525 t5_l_v002

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