This is the presentation we gave at a PARN (http://www.parnglobal.com/) Conference on (Re)defining Your Professional Brand. We discussed the development of the brand value proposition and how we delivered it through an integrated graduate campaign with the objective of building an engaged community. The second part of the presentation talks about brand-led content on a strategic level, and how to engage and influence key stakeholders with content and communications to build a valuable brand, and in turn - a powerful professional body.
Branding in the Digital Age: The Actuarial Profession
1. Using brand to unify content & engage your audiences
PAGE: 1 of 31
Branding in the
Digital Age
PARN Conference, April 2013
2. PAGE: 3 of 31
Unify your brand
PARN Conference, April 2013
The Institute of Actuaries
Re-defining a profession
The Institute and Faculty of Actuaries
Member organisations tend to operate along more democratic
lines than companies in the commercial sector, depending often on
volunteer staff and changing personnel in governance committees.
This can lead to slower and more cautious decision making with
initiatives not always carried through to conclusion.
In a profession already undergoing significant structural changes
and operating in the front line of a financial world at a time of
global financial melt-down, repositioning the Actuarial Profession
was not going happen in a flash.
3. PAGE: 2 of 31
Unify your brand
PARN Conference, April 2013
The Institute of Actuaries
A new vision with new opportunities
A changing profession in a changing world
2007 2008 20132009 20122010 2011
Our
Vision
Setting out a new
vision – bringing
consistency in
direction
Merger –
Institute with
Scottish Faculty
Organisational
change
The
Crash!
A global call for
legislation and
new processes
Solvency II
New roles and
demand for
actuaries
ERM
& CERA
New
opportunities and
challenges for
actuaries
Risk
Strategy
A roadmap for
risk positioning
Slam has worked for more than five years with the Actuarial Profession on brand research, strategy and content
against a background of significant change in the Actuarial world.
New Brand
Identity
4. PAGE: 4 of 31 PARN Conference, April 2013
Objectives for growth and consolidation
Unify your brand
The Institute of Actuaries
ATTRACT TOP
GRADUATES
Vision
EXPAND
OPPORTUNITIES
FOR ACTUARIES
MARKET A
QUALIFICATION
WITH BROAD
APPEAL
In 2007, as now, the profession’s business strategy outlined a number of key objectives to support the the vision.
5. PAGE: 5 of 31 PARN Conference, April 2013
Objectives for growth and consolidation
Unify your brand
The Institute of Actuaries
ATTRACT TOP
GRADUATES
Vision
EXPAND
OPPORTUNITIES
FOR ACTUARIES
MARKET A
QUALIFICATION
WITH BROAD
APPEAL
BUT ...
Would graduates working in
new areas see the relevance
of an actuarial qualification?
BUT ...
is the actuary brand image
an attractive proposition to
high flying graduates
BUT ...
are actuarial skills
suitable for roles
beyond their traditional
roles and sectors
6. PAGE: 6 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
Slam developed a project plan to test the objectives
7. PAGE: 7 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
Recruitment
consultants
Career
advisors
General public
Non-traditional
employers
Graduates
Internal External
Staff
Members
Leadership
We identified key stakeholders & conducted extensive research
Stakeholder
Influencer
8. PAGE: 3 of 31
Unify your brand
PARN Conference, April 2013
The Institute of Actuaries
Low awareness, competing
qualifications and a massive gap
between the image and the reality of
what actuaries are and do.
We recommended repositioning
around a new value proposition.
What we discovered
9. PAGE: 9 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
Actuaries work in insurance
What we discovered – the image
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Unify your brand
The Institute of Actuaries
Actuaries work in risk
What we discovered – the Reality …
11. PAGE: 15 of 31
Here the title
Some subtitle or description goes here
CAPABILITY FOCUSED
A complete and universal
understanding of risk
STRATEGIC
Influencing and making
leadership decisions
BROAD, DYNAMIC AND EXCITING
Flexible, global opportunities
EXTRAVERTED
Sharing thoughts and working
with others to solve problems
PRACTICAL PROBLEM SOLVER
A unique way of thinking
about risk
Actuaries are experts in risk
PARN Conference, April 2013
12. PAGE: 11 of 31
Here the title
To align your people to the purpose and to deliver your promise
Some subtitle or description goes here
The Power of a Unified Value Proposition
Man is the creator
of change in this
world and should
not be subordinate
to mundane
systems
To help people and
businesses
throughout the
world realise their
full potential
PARN Conference, April 2013
13. PAGE: 12 of 31
Here the title
Some subtitle or description goes here
The Power of a Unified Value Proposition
PARN Conference, April 2013
14. PAGE: 13 of 31
Here the title
Some subtitle or description goes here
PARN Conference, April 2013
Powerful value proposition – unified purpose
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Some subtitle or description goes here
PARN Conference, April 2013
Generic value proposition – fragmented purpose
16. PAGE: 15 of 31
Here the title
Some subtitle or description goes here
CAPABILITY FOCUSED
A complete and universal
understanding of risk
STRATEGIC
Influencing and making
leadership decisions
BROAD, DYNAMIC AND EXCITING
Flexible, global opportunities
EXTRAVERTED
Sharing thoughts and working
with others to solve problems
PRACTICAL PROBLEM SOLVER
A unique way of thinking
about risk
Actuaries are experts in risk
PARN Conference, April 2013
17. PAGE: 16 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
EXPAND
OPPORTUNITIES
FOR ACTUARIES
MARKET A
QUALIFICATION
WITH BROAD
APPEAL
Vision
ATTRACT TOP
GRADUATES
Our first task was to engage graduates
18. Unify your brand
The Institute of Actuaries
Level of Control
High Low
PARN Conference, April 2013
Promotion
“About Me”
Participation
“About Us”
Engagement
“About You”
One way communication, high-
impact/creative
Objectives are typically to drive traffic to the
owned/paid platforms & build awareness
Social interaction is dependent on campaign
mechanics, such as using Twitter.
Audience relevance may be based on
insights gained from research, listening and
monitoring
Facilitated conversation, controlled
community
Objectives to deliver online experience, build
closer relationships, enhance offer, crowd
source ideas – Build and grow the
community
Social interaction on brand „owned/paid‟
platform
Audience relevance is dependent on brand
is offer, how the community reacts to brand
behavior
Group conversation, external community
Objectives are to gain insights, build trust
and grow the community through Earned
Trust
Interaction within external community, brand
enters community
Always relevant as information is
centered around audience interests
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19. EXPLORE CONSIDER VALIDATE SELECT APPLY
Online skill
Influence
ONLINE
OFFLINE
CONTENT FOCUSONLINE BEHAVIOUR
• Visits every possible graduate
site/forum there is
• Actively engages forum
members (strangers) asking and
answering questions
• E-mails different firms with key
questions
Earnings EnjoymentEmployment
DESIRED INFORMATION
• International opportunities and
experience
• Employment opportunity, today
and tomorrow
• Big deals, big clients
• Earning potential
Key influencer
Unify your brand
The Institute of Actuaries
• Visits different employer
sites – visits their jobs
board
• Visits graduates
recruitment/job sites
(Prospects, Milkround)
• Looks at graduate
recruitments sites at jobs
advertised
• E-mails graduate
recruitment staff
• Gets involved in graduate
career forums
• E-mails those working in
her chosen field to ask
„questions‟
• Talks to peers on social
media
• Visits employer social
media sites, ie. Facebook
• Applies through
company‟s website
• Speaks to employers at
careers fairs
• Speaks to career
advisors
• Reads employer
marketing material
• Receives updates
• Talks to peers*
• Speaks to parents /
family friend*
• Speaks to recruiters*
• Speaks to graduate
employment team
• Reads employer
brochure
• Applies through graduate
recruitment team
• Applies at events
Employers
PARN Conference, April 2013
Avery Jones
24
Oxford graduate
Engineering degree
PAGE: 18 of 31
20. Unify your brand
The Institute of Actuaries
Understand how they interact
PARN Conference, April 2013PAGE: 19 of 31
21. PAGE: 20 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
LEARN
Content that engages through
providing new information that
teaches your audience
something new and useful
Whitepapers, Articles, News, W
ebinars, Surveys
UTILITY
Content that engages through
being useful, by solving a
problem or by improving
decision-making / making things
easier
Calculators, Maps, Trackers,
Aggregators
PLAY
Content that engages through
rewarding the audience for
completing enjoyable tasks
Games, Gamification, Check-ins,
Reward Programs, Puzzles
ENTERTAIN
Content that engages the
audience through amusement or
enjoyment
Stories
, Songs, Jokes, Performances,
Poems
Useful
Enjoyment
Active
Passive
And what they are interested in
22. Facebook page
Youtube
Channel
WWW.
Graduate
careers page
Graduate
recruitment
sites
Online
Adverts
EDM
Direct Mail
Printed
Brochures
Staff
Promotion Engagement
School
leaver
Facebook
Profile
Actuaries'
Facebook
Profile
Actuary
video
“DITLOs”
Online
Profiles
Schools
brochure
Graduate
brochure
Graduate
Facebook
Profile
Probability
Quiz
“World of
Risk”
Posts:
Curated, Ev
ents, News
Recruiter
Facebook
profile
Print
Adverts
Personal
blog,
publications
Graduate
Mailer
Social
Media guide
for
Actuaries
Offline Online
Posts:
Sharing,
Job opps
Job site,
listings
Posts:
Sharing,
Comment,
questions
Posts:
Sharing,
answering
questions
Participation
Integrated, connected by content, unified by the idea
over
12,000
PARN Conference, April 2013PAGE: 21 of 31
24. So we researched opportunities in Risk Management
A study of the emerging field of risk
management included interviews with CROs
and risk professionals in both traditional and
non-traditional areas of financial services to
understand how RM was reshaping
businesses.
Key Findings
RM has significant impact on actuarial roles
in traditional employment areas – “We‟re all
risk managers now!”
Opportunities in both traditional and non-
traditional areas, but a lack of awareness
and understanding of actuarial fit.
Requirements for additional skills in
traditional roles.
Lack of awareness of the world evolving in
traditional areas.
PARN Conference, April 2013PAGE: 23 of 31
25. PAGE: 24 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
Experts
in Risk
A new strategy placing Experts in Risk at the heart
Sponsorship
26. PAGE: 25 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
Internal External
Members
Leadership
Change begins with understanding the audience
Executive
Staff
Objective
Own promote, inspire & engage at
global, national, sector and individual
level
Objective
Understanding of how risk is re-
shaping actuarial work, broadening
opportunities and redefining the
application of core actuarial skills
Objective
Creation, management and co-
ordination of “Experts in Risk” brand
positioning within core activities
27. PAGE: 26 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
Insurance
Sector
Internal External
Internal primary segments
Internal Sub-segments
Members
Leadership
Executive
Staff
Seniors Mid-tier
Junior &
Students
Pensions
Sector
Investments
Sector
What would we like them to know,
believe and do?
What do they currently know, believe
and do?
What knowledge, ideas and
information can bridge the gap, both
functionally and emotionally?
Change begins with understanding the audience
Executive
Staff
28. PAGE: 27 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
Seniors
Insurance
Sector
Internal External
Members
Leadership
…On a deeper level
Internal primary segments
Internal Sub-segments
Mid-tier
Junior &
Students
Pensions
Sector
Investments
Sector
Technical and
inspirational
content to
support
achieving top
positions, partici
pation in
industry events
and inspiring
staff
Build
enthusiasm,
energy, skills
and career
support
From highly
technical to
inspirational
content to build
capabilities and
show the way
Build
awareness,
inspire, advise.
Messages
integrated at
touch points
from education
to social media.
Executive
Staff
29. PAGE: 28 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
Internal External
Internal primary segments
External segments
Members
Leadership
Recruitment
consultants
Related
Professionals
General public
Employers
Graduates Press
Educators
Careers
Advisors
to get them to get the message across with relevant content
Executive
Staff
30. PAGE: 29 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
Gearing the organisation to deliver the content
31. PAGE: 30 of 31 PARN Conference, April 2013
Unify your brand
The Institute of Actuaries
So What!
Ensure you have a unifying value proposition at the heart of your brand –
a promise that is true, relevant, differentiating and enduring
Place content at the centre of your marketing and make sure it works hard
by developing a content strategy centred around achieving audience
goals - by understanding your audiences online
Create great content that meets your strategic objectives, unifies your
brand while educating, entertaining, influencing and informing
Enable your people to create and develop content which is supported by
organisational processes and systems
32. That‟s all for today
Author: Shiela Lumsden
Date: April 2013
PAGE: 31 of 31
Thanks!
PARN Conference, April 2013