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					       new
      tomorrow

    Marketing Society
    Star Awards 2009

       Category – 01
Strategic Excellence Awards

   Business Innovation

  Newtomorrow Limited
   contents

Executive Summary

    Background

 Customer Insight

Marketing Execution

      Results
                                           executive summary

Based in Scotland – Invocas are one of the UK’s leading debt solutions   In the face of this Invocas took the strategic decision to focus on a
groups. They offer sustainable, practical solutions for real world       customer facing product to recruit customers direct.
situations. Invocas take a proactive approach to debt problems for       With no previous ‘business to consumer’ experience (Invocas were
both individuals and companies. The company own and run the              effectively a ‘business to business’ concern) the company conceived,
Newtomorrow brand and operate in one of the most competitive             branded, resourced and launched the Newtomorrow brand (led by
and changing markets within the UK – the personal and corporate          a high profile Direct Response TV and Press campaign starring Blythe
debt solution market.                                                    Duff of Taggart fame) on the 25th January 2008 (after a small test
                                                                         in the Dundee area in late 2007).
The company floated on March the 17th 2006 and derives around
80% of its income from Protected Trust Deeds (a legally binding          The success of Newtomorrow has been phenomenal. New clients
                                                                         derived from the new brand now account for 70% of all Invocas
agreement in Scotland between the debtor and creditor in
                                                                         Protected Trust Deed work. The initial investment in a heavyweight
which the debtor agrees to make a regular contribution towards
                                                                         TV and press campaign has shown a direct 3:1 return. In 2007 32%
their debt. At the end of an agreed period of time the debtor
                                                                         of work came to the company direct from the consumer – in 2008
should be debt free.)
                                                                         this had risen to 77%. In addition the Newtomorrow brand has
Traditionally Invocas received the bulk of their clients from
                                                                         broken into a market awash with new and existing companies and
a ‘business to business’ model – through other debt firms who            by the third quarter of 2008 had lifted the company to the number
were not licensed to undertake Protected Trust Deeds in Scotland         one position within the Protected Trust Deed market. All achieved
and as such passed customers to Invocas.                                 from a standing start in less then twelve months.
However in 2007 this supply of clients began to dry up as these debt     As a result Invocas have now expanded the Newtomorrow brand
companies began to undertake their own solutions or found                into England and Wales and are targeting 2009 for potential media
alternative methods to deal with their client’s issues.                  campaign in targeted areas within this geography.




                                                                                                                                                 2
                                                         background

    The UK debt market is extremely crowded and complex with a            may (or may not) have offered/secured a debt solution with the
    large range of competing companies across a wide range of             customer (e.g. a consolidated loan) only to find the customers
    markets. Traditionally a conservative market, the reputation of       situation had deteriorated to a point where they could no longer
    the sector has been tarnished with many new entrants launching        offer an appropriate financial solution. Invocas had (and still does
    services that often had more to do with making a ‘quick buck’         have) an enviable reputation with these ‘work providers’.
    rather than resolving the consumer’s core problems. As such the       The company is well know within the industry for taking on
    level of trust in the sector has declined sharply over the last two
                                                                          referred cases and handling them in a manner that leads to
    to three years with consumers wary of poor advice and
                                                                          no backlash or issues being passed back to the original
    inappropriate products and services.
                                                                          ‘work provider’. As such Invocas was seen as a safe pair of hand
    Within this market Invocas (Newtomorrow’s parent company) had
                                                                          to pass troubled customers on to within Scotland.
    positioned itself on a very simple premise – ‘if we do the right
                                                                          However in 2007 many of these ‘work providers’ began to set up
    thing by the customer then we will benefit in the long term’. This
    philosophy permeates Invocas with a resultant single minded           their own solutions for Scottish customers – a situation that led to

    focus on delivering the best possible solution to their customers.    much of the traditional source of new customers for Invocas

    It should be noted that the bulk of Invocas customers are             drying up.

    individuals with high levels of unsecured debt who have reached       As a floated company Invocas could not afford to lose income
    a position where re-paying the full debt is no longer a viable        associated with such cases. Following a consultation period it was
    option. Some of these cases are tragic with massive debt              clear that Invocas would need to turn to the ‘coal face’ and recruit
    mountains that dominate the customer’s lives in a way that is         customers direct.
    hard to imagine for people who have never experienced such a
                                                                          As a traditional ‘business to business’ entity this was not
    situation. This in turn makes them vulnerable and open to
                                                                          something that the company had any experience in. It had been
    exploitation by individuals or companies who present ‘quick and
                                                                          decided from an early point that the group name – Invocas –
    easy fix’ solutions. Invocas have always believed that solutions
    need to be tailored to the debtor, while at the same time             was inappropriate for a direct recruitment brand – the senior

    extracting the best deal for the creditor.                            management wanted to keep the Invocas name as the group

    Until mid 2007 Invocas received most of its business by referral      name. The start point therefore was to construct a ‘Brand

    from companies (‘work providers’) who were not licensed to give       Hierarchy’ to outline the new brand’s positioning in the market
    the same level of help that Invocas could offer in Scotland. These    by identifying the core brand values, the target audience and the
    ‘work providers’ were often other debt solutions companies who        long term ambition for the brand.




3
               brand hierarchy


VISION      “Where do we want to be in 5 years”    “The first choice provider of personal debt
                                                   solutions in Scotland.”




CUSTOMER    “Why do we believe this to be true?”   Invocas have a track record in professional,
                                                   customer orientated debt solutions.
INSIGHT                                            The market is dominated by companies more
                                                   interested in their fees rather than the most
                                                   relevant solution for the client.
                                                   There is a perceived gap in the market for a
                                                   company who focus on the customer’s key
                                                   issues and offer ‘independent’ advice.




TARGET      “Who are our key target markets?”      PRIMARY
                                                   Individuals with significant debt problems but
CUSTOMERS                                          who still retain the financial ability to resolve
                                                   the situation.
                                                   Lower income – C1C2D, home owners (or with
                                                   income sufficient to address their issues).
                                                   Individuals who have contact with other
                                                   potential advisors – banks, IFA’s, accountants but
                                                   find them unable/unwilling to help.
                                                   SECONDARY
                                                   Select other individuals who have the facility to
                                                   enter into a Protected Trust Deed.




                                                                                                        4
                     brand hierarchy


    USAGE         “How will customers use our
                   new brand?”
                                                       The service will act as the final safety net for
                                                       those with serious financial difficulties.
                                                       The customers will be able to access the brand
                                                       in the manner they choose – through the web
                                                       and/or    telephone      talking   direct    to   a
                                                       professional advisor.




    COMPETITIVE   “Who are our key competitors?”       Debt Companies – Chiltern, Spectrum, Debt
                                                       Solutions, Ocean Finance etc.
    PRODUCTS                                           CAB and charitable organisations – such as the
                                                       National Debt Helpline.




    BRAND         “In a sentence what do we offer to
                   the customer that will motivate
                                                       Customers will use the brand because it is
                                                       approachable and caring and can be trusted for
    PROMISE        them to buy the service”
                                                       solid, independent, professional resolutions to
                                                       their debt problems.




5
                    brand hierarchy


BRAND           “What are the key rational and
                 emotional traits associated with
                                                              RATIONAL – (the tangible reasons a customer
                                                              will use the brand)
SUPPORT          the brand?”
                                                              Professional,   understanding,       experienced,
                                                              customer orientated, easy to interact with,
                                                              provide the right advice, quality, flexible,
                                                              reliable, responsive, proactive.
                                                              EMOTIONAL – (the intangible reasons)
                                                              Caring, solid, approachable, down to earth,
                                                              friendly, empathetic, trusted.




BRAND           “Expressed as an individual –
                 what is the brand’s personality”
                                                              Experienced, mature and worldly wise. You
                                                              would trust their advice because they have a
PERSONALITY                                                   professional track record. They are straight
                                                              talking, approachable, listen well and are seen
                                                              as much as a friend as an advisor.




BRAND           “What two words (a summation of
                 the brands emotional and rational
                                                              Trusted Debtcare


ESSENCE          traits) sum up the brand?




              The Newtomorrow brand name was chosen after careful consideration of the market and the
              above hierarchy. Newtomorrow was chosen for four core reasons:
              • It deliberately avoided the word debt – a word that is heavily loaded with negative connotations
              • It reflected the core desire of the customers to have a better future.




new
              • It reflects a trusted intention on the part of the brand.
              • It allowed for future brand extensions – Newtomorrow Mortgages, Newtomorrow Debit Cards
                etc etc
              The design was a simple analogy to a rising sun – a symbol that sat well with the target audience.


tomorrow
              The colourways were bright and vibrant – suggesting a positive and proactive brand.
              Introduced as an internal brand in late 2006 the brand was then tested in a small media campaign
              in the Dundee area in early 2007 before undertaking a full roll out in January of 2008.




                                                                                                                   6
                                                  customer insight

    The Newtomorrow brand was derived from a process that                  months and the learning applied to the main launch – targeted for
    stretched back to the flotation of the group. A full marketing plan    January 2008.
    for the company had been constructed in 2006 to accompany the
                                                                           In addition to this activity a survey of existing customers was
    flotation outlining the key ambitions for Invocas. To coincide with
                                                                           undertaken to gain a fuller knowledge of how the existing Invocas
    the flotation a full qualitative market research programme was
                                                                           service and process was performing and to identify the key
    instigated to garner key information on how the company could
                                                                           motivation behind customers choosing the Invocas service.
    best service customers and to identify the opportunity for
                                                                           The key learning from this work was a simple but absolutely crucial
    alternatives to the traditional ‘work provider’ route. This research
    led to the creation of the Newtomorrow brand with an initial           piece of insight. In a world where debt was growing, competitors

    strategy of targeting a wider range of ‘work providers’.               were multiplying and the reputation of the sector was falling – the

    Following this activity it became clear that there was a greater       key success factor was the level of trust that customers attributed

    need for direct to consumer activity in light of the decline in        to a brand. With such a crowded market it was essential that

    ‘business to business’ activity and a test market was set up in the    Invocas could take the internal values of ‘doing the right thing by

    Dundee area to trial the brand, the back end operational               the customer’ and communicate this in a simple forthright manner.
    mechanics and a media campaign. This trial concluded after three       If Invocas could do this well – they thought they could win.




7
                                      marketing execution

The single most innovative strand to the marketing of              To   achieve   our   desired   goals   Invocas   examined   the
Newtomorrow has been the ability to identify, in a market awash    communication strategies of the UK’s leading debt solution
with competitors, a single minded and motivating message that      companies and concluded that TV was by far the most impactful
could cut through to the customer.                                 manner to talk to our target audience. As a result becoming the
That message had to imbue the brand with a believable set of       first Scottish based debt solutions company to use TV.
values that engendered trust and encouraged a direct response to
the campaign.




                                                                                                                                     8
                                              marketing execution

    Red Cell (now Petrus Creative) and Circuit Break working with two
    of Scotland’s leading advertising personnel created a campaign with
    a simple but effective message – ‘Debt solutions for the real world’.
    Blythe Duff (of Taggart fame) was selected as the brand spokes
    person – chosen for her perceived level of trust and empathy with
    the target audience. The construct of the ad was simple. Blythe
    appearing at the outset as if in a drama – the director shouts cut and
    Blythe walks across the set comparing the drama you see in TV with
    the real drama of a life of debt.
    Working directly with stv and in tandem with a media planning
    agency a core media strategy was identified that maximised the
    launch but also (through heavy use of daytime) gave the campaign
    longevity.
    Backed up by targeted press placed to sit within the various debt
    pages that already exist in both The Sun and the Daily Record – the
    campaign drove people to a phone number or a web site that
    allowed for live chat, an on line debt test and provided key
    information that the customer needs to know.
    In addition the BIG Partnership were recruited to add a PR angle to
    the activity. This PR activity has culminated in the creation of the
    Newtomorrow Quarterly survey. This survey measures the ‘health’ of
    the Scottish debt market by interviewing over a thousand individuals
    on a quarterly basis and provides an ideal vehicle for gaining PR
    coverage.
    The co-ordinated campaign has given Invocas unprecedented returns
    on investment in an extremely short time period.
    In late 2008 the brand further expanded its reach by launching
    Newtomorrow Broker Services (NTBS). This business has been set
    up to directly target the UK’s Independent Financial Advisors and
    Mortgage Brokers giving them a dedicated web and call centre
    service backed up by Business Development Managers that can
    assess their client’s debt issues and supply advice and solutions.
    NTBS is a first within the UK financial services market.




9
                                                           results

Since the launch of Newtomorrow the company has provided for        Newtomorrow has now provided debt advice for over 8,000
over £157 million worth of unsecured debt and over £273 million     customers.
of secured debt.
                                                                    The company is now the number one provider of Trust Deeds in
In 2007 less than 32% of the company’s business came direct
                                                                    Scotland (third quarter 2008) and is now in the top thirty of
from the consumer. By the end of 2008 this has risen to over 77%
                                                                    Individual Voluntary Agreement providers in England and Wales
– demonstrating a dramatic level of success in attracting
consumers direct to the brand.                                      (Individual Voluntary Agreements (IVAs) are an analogy to a Trust

Although the company has a core competence in supplying Trust       Deed in England and Wales).

Deeds the success of Newtomorrow and the requirement to             In addition Newtomorrow has now launched Newtomorrow
exactly match the solution to the customer’s situation has led to   Broker Services taking the Newtomorrow brand to Independent
the company supplying a range of financial solutions.
                                                                    Financial Advisors and Mortgage Brokers. Launched in November
As such in the six months to September 2008 Invocas won 22%
                                                                    2008 tomorrow Broker has already signed up 3,300 registered members.
                                                                          new Services
more work than the corresponding period in 2007 (£2.75m v
                                                                    The overall transition from a business to business dominated
£2.26m)
                                                                    model to one that now incorporates a model dominated by
Despite a decline in ‘business to business’ referrals the total
caseload of formal insolvency cases undertaken by the business      business to consumer is testament to a marketing strategy that
has grown from 5,142 in 2007 to 5,814 by September 2008.            has been both highly impactful and highly successful.




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posted:4/7/2012
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