Product Development | Brand Naming | Tagline Development | Product Launch
Financial institution with over 350 affiliations nationwide serving the needs of over 3 million Irish people.
IMS Marketing was approached by this large financial institution to work with them in the development and roll out of a new financial management product for the farming community in Ireland. The new product concept was an initiative of 4 affiliates that provides short to medium term loan opportunities built specifically around the growing needs of their farming members.
During all aspects of the project, while the new product was to be a separate brand to that of the financial institute, it was imperative the traditional brand voice and ethos gleaned through. We approached the project by firstly completing an intensive value proposition workshop with the group, to determine the internal and external attitudes and mindset of the target audience to the product and overall service brand. The development of a compelling value proposition ensured the products messaging was specific to the target audience, generated interest, and compelled action. It formed the basis of all future aspects of the project including naming, collateral design, and promotion.
Armed with this information we began the process of brand development, the first stage being the successful creation of the new products brand name. We developed a list of over 150 potential product/brand names and corresponding taglines using focus groups, market research and internal creative brainstorming. We then commenced collateral development for the product launch. The objective of the collateral was to encourage the target audience to act and apply for this new lending service with their local branch.
After consultation and review of print costs, it was agreed the following collateral would be produced to promote the product at launch stage:
The product was launched in late March 2017 at a dedicated event that attracted over 200 customers and potential customers from the pilot region. Feedback from our client in the following months reported a strong uptake on the new product offering, which exceeded the initial sales targets set. The group have strongly indicated their willingness to work with IMS Marketing in the development of a long-term plan to promote the new product and in the development of new group lending offerings in the future.
Together we will help you develop a product strategy that supports every stage of your product life-cycle .