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Learn how Accenture helped a leading long term savings and investment company transition to a customer-centric marketing solution to increase brand loyalty, improve efficiency and reduce costs.
A leading long term savings and investment company, which provides life assurance, pensions and investment management products to more than six million customers on three continents, sought to transition to a customer-centric marketing program.
Accenture teamed with a document management services provider to conduct an assessment of the company to identify opportunities to increase brand loyalty, increase efficiency and reduce costs, and proposed transforming the company’s marketing operations using a set of managed services and a new operating model.
The solution is expected to deliver financial benefits of up to $2.9 million in the first year and $6.5 to 8 million on a regular basis.
This leading long term savings and investment company‘s marketing transformation program was established to migrate its existing marketing operating model from a product-centric to a customer-centric solution. It was designed to create centers of excellence and provide consistency in core processes across the group’s customer marketing groups.
As part of the program, the company asked a leading document management services provider to develop and implement a proposal for the marketing operations center of excellence to deliver:
The document management services provider, in turn, engaged Accenture as strategic partner for consulting, outsourcing and IT delivery. Accenture’s role was to run an opportunity assessment and subsequent transition program for the company.
Accenture conducted an assessment for the company to identify opportunities to increase brand loyalty, reduce costs, increase efficiency and improve the company’s marketing communications. The assessment focused on improving multiple aspects of upstream marketing planning and execution as well as downstream document and channel management, including planning and forecasting, digital asset management, creative process improvement, third party management, measurement and evaluation.
As a result of the assessment, the team proposed industrializing the project management of marketing operations using managed services delivered by a group of Accenture and document management services provider people embedded at the client company. The goals of the group were to:
Increase marketing efficiency.
Use new end-to-end automated processes to increase the effectiveness and efficiency of campaign and collateral creation and production.
Re-engineer all marketing collateral, including categorization, indexing, layout and design, and rationalize document types from more than 70 to fewer than 20 types.
As an additional result of the assessment, Accenture and the document management services provider proposed implementing a new operating model and process architecture for marketing operations to deliver improved service at a lower cost.
The solution is expected to deliver financial benefits of up to $2.9 million in the first year and $6.5 to $8 million on a regular basis. It is also expected to:
Allow the company’s marketing team to concentrate on high value activities that focus on the customer, the proposition and the message.
Reduce financial and reputational risk through improved processes, governance and control.
Increase the visibility of marketing effectiveness.
Reduce the overall cost of marketing operations.
Shift the company from a fixed cost model to a variable cost model with the ability to absorb variations in demand.
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