Download - ZAG OF NYL (Modified)
ZAG by Marty Neumeier
#1 Strategy of High-performance brands
Com 459Jeff McNeillLyn Jang
Step #1 - Who are you?
I am the NYL insurance company=life insurance company
1-1
Where do you have the most credibility?
-life insurance & annuities
-high quality products
-product financial management
-high level of personal satisfaction
1-2
Where do you have the most experience?
Community
Place wherever people are
1-3
Where does your
passion lie? “Customer’s loyalty”
A future obituary
for your brand
New York life insurance company for 190 years, the company keep, closed its door yesterday.
NYL had a long history of helping to Provide security for individuals, families and businesses for 190years. It extend the brand to the all over the world. Closed with cash and assets worth in excess of 4 billion dollars, a sum the company says it will donate to causes that include third world education, and poor countries. By providing various life insurance, annuities and long-term care, they created the vital link between the company and its customers. The NYL kept #1 life insurance sales and customer loyalty in the U.S until this year.
The NYL will be remembered as the best saver for people’s lives
Step #2 - What do you do?
What business are you in?
Mutual life-insurance business
(Mutual fund, variable annuities, variable
universal life insurance)
Sell insurances
Decide what your purpose
Satisfy people’s needs its security
Help people to prepare their future
State your purpose
in 12 words
Or less
We are here to make you be ready
For Tomorrow
Step #3 What’s your vision?
What do you want to accomplish
in 5,10 or 20 years
Make consumers want our product
Make consumers say NYL products is the one they trust
How can you make this vision
palpable and exciting? A focusing on life insurance, we seek continued growth
for successful asset accumulation product ( can’t deny the fact consumers Want accumulation product)
- Annuity , mutual funds-
And to grow long=term care business
While remaining a life insurance company, we still have to furnish Quality equity products for our agent to make available to their prospects and clients.
Test it on a real piece of communication
NYL named #1 in customer loyalty in2007
The Brand Keys Customer Loyalty Engagement Index,
fielded annually in the spring and fall,
currently examine customers' relationships
with 362 brands in 55 categories.
Go back and refine it further NYL is the they prefer most, and
We will make customer keep us
customers
choices
NYLOTHER
COMPETETORS
Paint a vivid picture of your future
Step #4 What wave are you Riding?
What trend is powering
your business?
SOCIAL NETWORKS
OPPENESS
AFFORDABLE LUXURY
LONGEVITY
How powerful is it?
Those tends within the industry have been forcing such profound change
Can you ride more than one trend at a time?
Yes, but we don’t-
remain a life insurance company
instead of becoming a
financial supermarket and remain a mutual company instead
Of joining the parade to Wall Street.
Make a list of the trend
s that will power your success
-become a financial supermarket
-join the parade to Wall Street
-remain a life insurance company
-remain a mutual company
Who else
Competes in your
Category?
THE HARTFORD
ING
Who comes first,
Second, and third in
Customers’ minds?
1)NY Life 2)ING 3)The Hartford4)MetLife5)Travelers
Find out how
Your brand ranks
With customers
NYL is the best insurance company
Design a strategy to become
Number one or two, Or, become the
First mover in a new category
Central to our success are our New York Life agents, who are widely recognized as
the best-trained professionals in the industry.
Our agents have the ability to understand each customer's objectives and draw
upon New York Life's products to best address those objectives.
Step #5 Who shares the Brandscape
Step #6 What makes you the “ONLY”
WHAT THE ONLY Focusing on life insurance, seeking continued growth for successful asset accumulation products-annuities and mutual funds- and grow long-term care business
HOW THAT While other companies rush to offer financial service, taking their eye off the ball; no more focusing on life insurance, the key product, we are focusing on life insurance where other top competitors lose market share .
WHO FOR People who have family, children.
Targeting on around 50 yrs old- no tax after 59.5 years old
WHERE IN In home court, life insurance market filed,
WHY WHO As life expectancies increase and the population ages, people’s need for protection is balanced by their need for wealth.
WHEN IN AN ERA OF
The First Choice Since 1845For more than 160 years, New York Life Insurance Company's unwavering financial strength and time-tested investment strategies
have provided consistent value and solid financial protection for our clients and their families.
Since becoming the first American life insurance company to pay a cash dividend to policyholders in the mid-1800s,
New York Life has continued to build a history of innovation — enhancing our existing product lines, creating new financial products,
and maintaining a diversified portfolio to best accommodate our customers' changing needs and lifestyles.
Central to our success are our New York Life agents, who are widely recognized as the best-trained professionals in the industry.
Our agents have the ability to understand each customer's objectives and draw upon New York Life's products
to best address those objectives.
As you seek financial security for yourself and your loved ones,
you want the best: A strong and vital company with a competitive product line and a superior sales force
that is committed to providing personal attention to your individual needs.
Step #7
What should You add or Subtract?
ADD SUBTRACT
•MORE ONLINE SERVICES•OUTSOURCING•MORE CUSTOMER SERVICES
• NOTHING
Step #8 Who & WHY loves You?
CUSTOMERS
WHY?
Business process( innovation&adaptation)
-operating business Integration platforms
= Agent=Product service
ChannelsValue
Community experience platformsCreate promises
Target market- Customer platforms
To reach loyal customer, supplies Perceive value
GIVE
LOYALTY, VALUE, BEST SERVICE
CUSTOMERSGIVE
HOW?
Step #9 Who’s the Enemy?
NYL
The Hartford
Customer servicehistory NET IMCOME
Financial services
Agent #NYL
The Hartford
$650
$0550
32.700
11000
10. What do they call you?
Is your name Helping or
Hurting your brand?
If it’s hurting, is there an opportunity to change it?
If it’s too late to change it, is there a way to work around it?
Is it suitable for brand play?Does it have creative" legs’
Choose a name that's different,Brief, and appropriate
Make sure it’s Easy to spell and pronounce
Find out if the name can be used as a url
Determine how easy or difficult if will be to legally defend
Helpful
It is suitable for brand play, we are New York Life and if you have a respected brand name with life in it, what better business to be in?
Easy to spell, pronounce, this name has been used for 160 years
Step #11How do you
Explain Yourself?
What’s the one true statement you can make about your brand?
Avoid any commas or “ands”
Craft a true line thatTells why your
Brand is compelling
Turn your truelineInto a tagline to use
With customers
#1 in Customer loyalty, #1 in life insurance sales
THE COMPANY YOU KEEP
NYL is always fulfilling customer’s needs
customer
Friends how know our brand
TV ads
Agents =the word mouth
Become curious about our brands
Step #12
How do Spread the word?
Step # 13How do people
Engage with you?
What are you selling and how are you selling it?
Which touchpoints will let youCompete in white space/?
Map your value proposition against those of your competitors
Discover customer touchpoints whereYou will be unopposed
See which competitive areas you can avoid entirely
Any individuals, selling life, insurances, investment annuities, long terms care insurances, mutual funds, retirement income, health insurance
International markets, focusing on mutual funds
By remaining a life insurance company and sticking with our competencies, we remain a big fish in a small pond
as a major life insurance company, whichWe feel is preferable to becoming a small fish in a big pond,
Competing with Citigroup and Merrill lynch. Simply doing what we do best in domestic
Markets and emerging markets is our most likely avenue for success
•Mutuality differentiates us from the market. As more and more •Companies demutualize, mutuality confers a level of
Uniqueness. It allows our agents to go back and tell clients and prospects that we’re one of the few companies that remains a
Policyholder company, and the becomes a marketing advantages.
Step # 13 How do people Engage with you?
We are in the
1. Number One Customer Service
2. Top Rated Web site & Online Customer Service
PRODUCTS WE CARRY
-LIFE INSURANCES
-ANNUITIES
-LONG TERM CARE INSURANCE
-MUTUAL FUNDS
WE SELL THEM THROUGHOUT TRAINED AGENTS
ONLY insurer in the market to declare a dividend on its long-term care insurance products