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.
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.
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.
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