And they’re well on their way – growing to over 120,000 members and over four billion dollars of funds under management. Better still, Simplicity is living their purpose, donating 15% of profits to charity, a stunning $3,293,872 so far. They’re truly disrupting New Zealand’s financial services industry. It’s fitting that they were Tracksuit’s first client.
For Jennie O’Donovan, Head of Communications, Education and Marketing, at Simplicity, finding a brand tracking solution was a priority.
“We are a new brand in an established industry, doing things a bit differently”, she explains, “it’s helpful for us to know how Simplicity is viewed by the public, and where the brand sits compared to others in the industry”.
Before Tracksuit, Simplicity used Google Analytics to monitor its website and app, which, Jennie says, was useful but limited to human behaviour: “it didn’t give us any insights into brand awareness or our broader target audience”.
Tracksuit was a great fit because it offers insight into funnel metrics, like awareness and consideration, as well as competitor benchmarking (powerful if you’re a disruptor brand like Simplicity, operating in a crowded market) and brand profile insights.
“It was useful to discover that while awareness was, comparatively, fairly low, consideration was high - this information helps us focus our limited marketing budget and use it more effectively,” Jennie says.
“The findings from the baseline report have led our team, with our creative partners, to develop our All Greys strategic brand awareness campaign. Tracksuit played a key role in monitoring it and evaluating it.”
Jennie also used Tracksuit to understand the effectiveness of specific campaigns and messaging. Insights led to some important messaging adjustments early on.
“One change we made fairly quickly after using Tracksuit was to move our focus away from promoting low fees (a key message that had clearly got through!) to emphasising the benefits of being a Simplicity member (great returns, 2% better off in retirement)”
For the Tracksuit team, working with game-changing organisations like Simplicity, and watching their brand go from strength to strength is the best part of the job. Seeing how insights from the Tracksuit platform can help marketers like Jennie spark big ideas for new campaigns - or even effective messaging shifts - is what gets us up in the morning.
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