Making the enduser value and Aktia’s philosophy
With a new Marketing Director on board, Mikko Torvinen, Aktia had recognized that the Aktia brand was not well known, differentiated or interesting enough to support premium and private customer acquisition and to build loyalty among current high end customers. Traditionally Aktia had focused its brand and marketing efforts to support its current customer base.
At the same time, Aktia’s management was considering a new business strategy and future focus segments and offering the guidance from the management team and the board of directors was to emphasize high value customer segments and wealth management.
So the question was what should the Aktia brand be known for and how should it differentiate?
To define a successful brand strategy, Aktia and Marketing Clinic based its work on a rigorous customer, competitor and other stakeholder’s insights regarding attitudes, drivers, perception, competitors focus areas and claims. In internal workshops, Aktia´s employees contributed with valuable insights regarding the purpose and differentiating elements of Aktia.
As the majority of the competition focused on presenting itself and its offering, Aktia and Marketing Clinic decided to focus the brand strategy on two aspects:
- The value that Aktia creates for its customers and for society.
- The role Aktia can play in building its customers wealth.
This approach was crystallized into the brand promise “Think further” (Ajattele pidemmälle, Tänk framåt). Marketing Clinic was responsible for the overall process and content creation, facilitation and documentation. Marketing Clinic also facilitated Aktia´s work to implement the strategy and brand strategy by defining a concrete plan for Aktia´s Growth teams on how to achieve the strategic goals through marketing and growth activities.
The brand strategy has been successfully been implemented since 2019. The insights and the logic for the brand strategy was also utilized in the business strategy process in 2019 and the idea for Aktia’s current purpose driven mission “Building wealth together” stems from the brand strategy project.
“The marketing clinic’s systematic approach to brand work helped us validate our ideas and structure those into a winning brand strategy. For us, a brand is a tool for leading the customer experience – marketing clinic gets leadership angle and that for was an optimal partner for us.” – Mikko Torvinen
Marketing Clinic has facilitated Aktia´s work to implement the defined strategy and brand strategy. Aktia and Marketing Clinic collaborated to create a concrete plan for Aktia´s Growth teams on how to achieve the strategic goals through marketing and growth activities. As a result a clear plan was defined on how to achieve the desired brand perception and positioning. Marketing Clinic has facilitated also Aktia´s work to build a consistent Aktia brand through crystallizing Aktia private banking´s promise, key themes and account model and developing Aktia´s retail banking through service concepts.