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Building a highly innovative proposition to attract new customers

“Notwithstanding their efficient and dynamic approach, Orange Squid’s real value was in guiding us through the various solutions to the problem we perceived we had. And it was this ‘perception’ of the problem where Mark and the team took things to another level.”

Background

Despite finding success in the highly regulated and competitive superannuation sector, Kinetic Super found themselves in a rapidly shifting environment. Kinetic had already identified new customer segments that they wanted to create new value propositions for, but didn’t want in-house thinking to stifle innovative approaches to this new segment.

The decision to develop a proposition for a new target market resulted in Kinetic getting in touch with Orange Squid. Our team then worked – hands on – through the innovation process with them, conducting exploratory research and uncovering game-changing opportunities that allowed Kinetic to partner with a well-established Australian household name.

How We Helped

With this new customer segment in mind, Orange Squid conducted significant deep exploratory research with individuals in the segment, both customers and non-customers of Kinetic. Best-practice methodologies were applied to gain a comprehensive understanding of deep functional, social and emotional behavioural drivers in relation to financial matters, particularly with those related to superannuation.

With these insights gained, Orange Squid then distilled them into key opportunity areas that were both important and valuable to customers. Moving into the ideation phase, we worked with the Kinetic team, alongside representatives from other organisations from outside the superannuation market, to give fresh perspective. This approach allowed current paradigms to be circumnavigated and new ground to be tread.

The ideation process ran with both large and small workshops focusing on individual elements of the challenge, which further increased idea generation. With these findings, significant value was found in a partnership with a large Australian brand outside of the industry.

Results

After testing demonstrated extremely favourable results, ideas were introduced successfully. Shortly after implementation of the ideas and the successful partnership with a household Australian brand, Kinetic Super was acquired by superannuation giant Sunsuper through a lucrative deal.

"With meticulous research and convergent/divergent lead thinking, the Orange Squid team can tap into a collective creative that breaks through group think and generates highly valuable outcomes.”

"Our Product and UX team has recently gone through a complete training program with Orange Squid. The program was not only very insightful, but also very well structured. Every one of our team members learned new techniques which has helped us not only as individuals, but also to be more collaborative and work better as a team. I can honestly say this was one of the best training programs I have had in my professional life. A special thanks to Mark, the facilitator, who was super engaging, accommodating and so full of energy"

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