Situation: Following a joint venture, JPMorgan needed to capitalize on new banking relationships with some 500,000 potential customers with 401(k) accounts totaling $4 billion. Unfortunately, the company realized it could not build, groom and/or retain these relationships with its current marketing and positioning efforts. The potential growth opportunity was huge and remarkably clear.
Core Strategy Group’s Approach: We immediately realized that the potential growth opportunity was huge and remarkably clear. To capitalize on it, we began by analyzing JPMorgan’s client base. It was critical to know what was important to current customers to have any chance of gaining new ones. Nearly 1,000 interviews were conducted to learn more about what customers wanted and cared about in a financial services company. We learned that customers wanted their financial services company to be stable, knowledgeable and aware of their situations—and not an overbearing presence in their lives. Using these insights, a persuasive and differentiated brand positioning and marketing strategy was developed and initiated. Integrity, strength, flexible planning tools and objective support became the foundation on which a new brand positioning was built.
Results: With a differentiated brand and value proposition in place, JPMorgan was ready to take advantage of a vast new market and build for the future. The new strategic roadmap is already paying off with their most prized customers. Expectations are high for the company to realize even more success in both existing and untapped markets.
The Core Strategy Group Difference: The problem that most companies face is that while markets have changed fundamentally, the practice of marketing has barely changed at all. Core Strategy Group combines traditional business focused marketing discipline with the aggressiveness and drive of an insurgent strategic model. It is a model built for clarity, speed and impact. This is the new model for companies who are serious about improving their market performance, revenues, share and return on marketing investment. It provides the most effective way for any organization to compete—and win.