The central digital leadership team and head of marketing at Financial Giant were driven to reinvent the asset management experience for loyal customers, digitally active customers, and prospects to stay ahead of the competition. Despite strict regulations and brand guidelines, Financial Giant sought to learn and work with innovative partners, including startups, to innovate internally and achieve their goals.
The project used the Formula2GX Beehive Strategy framework to assess Financial Giant’s needs from multiple perspectives, including customer demands, market requirements, CEO vision, and competitor threats. Using this framework, we created a unique state-of-art beehive strategy that helped Financial Giant baseline their existing digital journey. We provided disruptive product and service propositions to leap ahead of the competition. We researched multiple parameters, such as thought leadership, digital trends, analysts, and the startup ecosystem.
We faced the challenge of filtering out buzzwords to identify real use cases. However, our work identified over 50+ new initiatives across marketing, sales, service, product line innovation, customer experience, and analytics. We also identified over 150+ digital innovation hubs. We evaluated 80 fintech startups and over 30 providers in AI/ML, AR/VR, data science, CRM, social media, IoT, blockchain, eCommerce, and workforce productivity.
The work resulted in establishing innovative partnerships to create new revenue models, increase the lifetime value of a customer, use artificial intelligence to predict and manage churn, identify and target new prospects, and improve content-driven marketing solutions. Our efforts also resulted in identifying practical best practices and lessons from these models for internal innovation.
Our customer was pleased with the results, noting that we delivered significant value in helping with strategy, innovation scouting, and delivery. Our structured approach to design and innovation, combined with the will and capability to deliver innovation, inspired trust and enabled adoption across different functions.
