Exploratory Research

Uncovering What Drives Advocacy in the Financial Sector 

Challenges

  • In a world where word of mouth is a key driver to purchase, an international bank wanted to understand how to drive advocacy for its bank.
  • Understand the emotional components leading to advocacy so the brand can overcome consumer inertia to switching.

Approach

  • Co-creation workshop among consumers to collect stories of advocacy.
  • Diagnosis of the stories to build a model of advocacy.

Recommendations

  • Developed the model of advocacy and identified the gap that the brand can tap into.

Outcome 

  • Provided a new space for the brand to operate in.
  • Redefinition of concepts like “Prestige’/’Privilege’.
  • Client launched several social experiments to assess impact of triggers in the new space. Successful campaigns were then rolled out at a broader market level.
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