Background
A Fortune 500 insurance company was steadily losing revenue and wanted to develop an omni-channel strategy, vision, and product alignment plan but unsure how. The internal goals of this pursuit were unclear, not outcome-driven, and did not tie back to customer and business goals. One goal, however, was repeated enough to become the guiding light of the engagement – the client wanted to increase their book of business for the growing “Under 40” demographic while maintaining its core “40+” demographic. Thus, SingleStone, in partnership with the client’s in-house digital marketing team, identified the need to engrain a customer-centric point of view within the organization's product development methodology across the enterprise.
Response
A high-level analysis of the omni-channel customer experience, as well as the core suite of products and capabilities, was conducted by SingleStone. With this context, SingleStone embraced a Design Thinking approach to become the bridge that enabled the client’s cross-functional teams (CX, UX, Dev, Product) to collaborate more meaningfully.
In tandem, the SingleStone-Client duo worked to compile a log of customer pain points/needs (“jobs to be done”) so the “needs” could be cross-examined with business “wants.” This process gave way to a shift in organizational perspective, resulting in the exploration of new business opportunities and a repeatable method to help prioritize current and future proposed customer solutions.
Result
- Executed an LAI assessment to capture baseline metrics
- Created a new cross-functional discovery-delivery process
- Connected established business priorities (epics) with prioritized solution options (development backlog)
- Created a digital matrix framework to support strategy with target outcomes and key metrics (lagging and leading) that were connected to the Digital P&L
- Developed a “now, next, later” roadmap for execution across people, processes and technology