Frontline Finance – improving police finances - CANCELLED

CANCELLED

A complex research project to take an SME through the process of using market research for the first time, to challenge the status quo, uncover truths, drive marketing and ultimately deliver a significant commercial impact.

What you’ll learn:

• How to work with first-time users of market research – and the wider SME audience
• How to integrate multiple data streams
• How to turn insights into compelling marketing content, including the use of visuals and tone of voice
• A marketing director’s insight into how research elevated the marketing function within a business
• Shortlisted for the MRS Financial Services Research award 2017

Description

Metfriendly provides financial products and services to both former and current officers of the Metropolitan Police – individuals who are often dealing not only with the demands of protecting London’s 8.6 million citizens and 19 million tourists each year, but also with the financial reality of public sector salaries.

Metfriendly approached creative agency Northstar with bold intentions to invest in market research for the first time, in order to challenge the status quo within its organisation as well as uncover relevant insights. Metfriendly had ambitious aim to turn membership decline into growth and identify New Product Development opportunities, based on officers’ willingness to save and current gaps in their financial portfolios.

Before considering a research methodology, Northstar wanted to build understanding and trust across an organisation that had no prior experience of market research – as well as a limited budget. Northstar engaged with all levels of the business to fully understand it, identify knowledge gaps and leverage existing data sources.

Northstar then developed the methodology including: A financial U&A (Usage & Attitudes) survey with members and non-members and then integrating these with existing MET data, Metfriendly’s CRM data and wider consumer data. It also held a series of in-depth face-to-face interviews with participants.

With the insights, Northstar created print and digital content across London’s police stations; presented research findings directly to the Metropolitan Police and helped overhaul Metfriendly’s online presence. The project was a major success, culminating in a significant commercial impact for Metfriendly:

• 50% increase in new business
• Membership decline turned into growth
• £1 million given back to Metfriendly’s members
• Rise in lump sum investments
• Successful launch of new products
• Significant re-investment in in-house marketing capabilities