The challenge
Key Later Life Finance is the leading specialist intermediary in the burgeoning equity release market. Despite their ongoing success they were facing growing acquisition costs and declining conversion through the sales funnel caused by a shift in consumer behaviour and increasing competition. With these trends set to continue, Key realised that to maintain a competitive edge in this fast-changing market they needed to evolve their approach to acquisition and the methods employed to engage customers through the sales process.
The challenge
Key Later Life Finance is the leading specialist intermediary in the burgeoning equity release market. Despite their ongoing success they were facing growing acquisition costs and declining conversion through the sales funnel caused by a shift in consumer behaviour and increasing competition. With these trends set to continue, Key realised that to maintain a competitive edge in this fast-changing market they needed to evolve their approach to acquisition and the methods employed to engage customers through the sales process.
Key appointed Manifesto to 1) identify revenue growth opportunities through researching and reimagining their customer acquisition journeys, 2) lay out a roadmap to identify capability requirements for long term changes and 3) scope the associated investment requirements to deliver on the plan.
Manifesto designed and ran qualitative and quantitative research with existing customers, prospects and non-customers to uncover key themes and insights into consumer behaviours and attitudes. Pairing this knowledge with detailed business investigation and value analysis, we derived a number of hypotheses which formed the basis of our test and learn approach to addressing Key’s revenue growth challenge.
Manifesto created a customer segmentation model and identified a number of Quick Wins aiming to unlock immediate business value. And, by working collaboratively with the client, we were able to launch a number of these Quick Wins within the first few weeks, driving immediate value.
Building on our hypotheses, we adopted a build-test-learn methodology, deploying an MVP and several design and build iterations over a 12 week period. By split-testing with live traffic against Key’s existing funnel, we were able to progressively iterate towards provable value. In parallel we created a 12 month roadmap for our strategic capability recommendations, identifying both business benefits and investment required.
Key appointed Manifesto to 1) identify revenue growth opportunities through researching and reimagining their customer acquisition journeys, 2) lay out a roadmap to identify capability requirements for long term changes and 3) scope the associated investment requirements to deliver on the plan.
Manifesto designed and ran qualitative and quantitative research with existing customers, prospects and non-customers to uncover key themes and insights into consumer behaviours and attitudes. Pairing this knowledge with detailed business investigation and value analysis, we derived a number of hypotheses which formed the basis of our test and learn approach to addressing Key’s revenue growth challenge.
Manifesto created a customer segmentation model and identified a number of Quick Wins aiming to unlock immediate business value. And, by working collaboratively with the client, we were able to launch a number of these Quick Wins within the first few weeks, driving immediate value.
Building on our hypotheses, we adopted a build-test-learn methodology, deploying an MVP and several design and build iterations over a 12 week period. By split-testing with live traffic against Key’s existing funnel, we were able to progressively iterate towards provable value. In parallel we created a 12 month roadmap for our strategic capability recommendations, identifying both business benefits and investment required.
Driving incremental value for Which?’s audiences
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Delivering 3.6x RoI for a leading later life finance company
© 2023 Manifesto Growth Architects Manifesto Growth Limited, is a company registered in England and Wales with a registered office at 9 Castellain Road, London, England, W9 1EY.
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