What platform could best serve as an entry point to a relationship with future customers?
Our client sought to identify the ideal platform to develop a relationship with a new client base, Generation Y, the adult children of its current client base. Effective communication with Generation Y necessitated the creation of targeted engagement strategies. In co-creating these strategies, Peer Insight helped establish a cross-organization innovation framework.
The innovation process included ethnographic research and lifestyle trends analysis to provide an in-depth understanding of Generation Y’s customer needs. Concept visualization, development, and prototyping incorporated key stakeholders in the organization and representatives of the target market.
The project created organization-wide belief in learning quickly through engagement with customers throughout the new service development process; this is the new standard for fast-paced innovation across the organization.
- An alpha-launch of the best concepts went online within 8 months of the project kick-off.
- The client released the fully developed financial planning platform within 18 months of the project kick-off, which now has a growing online user base.
- Videos from the consumer tests created a sense of urgency for an internal change management effort. These real humans stories inspired the organization’s Governing Board to reframe their thoughts on the role the organization could play in helping younger Americans plan for retirement.
- This project resulted in the 2010 Industrial Design Society of America’s (IDSA) IDEA Gold Award for Design Strategy.