How to Launch a New Business Value Proposition? vania
BNY Brokerage (Now ConvergEx)
The Bank of New York had acquired five broker-dealers representing eleven different businesses across diverse customer segments. The goal was to minimize challenges for the sales team to effectively sell the company’s services. Effective market positioning and distinctive messaging was needed to bring together a complex business organization that was perceived as uncoordinated by the market and clearly communicate the brand value created.
Create a new company identity.
Design an overall brand architecture with new logos.
Develop effective sales tools to convey the respective business capabilities and benefits.
Use proactive media outreach to reposition the businesses and change market perceptions.
Introduce comprehensive advertising and a website redesign to increase brand awareness.
Before: BNY ESI & Co.
Unclear business name and product focus created sales challenges
Multiple, disjointed brands
Confusing value proposition
After: BNY ESI & Co.
New names clearly distinguished brands with functional descriptions
Organized, benefits-oriented marketing collateral system facilitated sales
Comprehensive marketing and public relations program increased market recognition
The comprehensive marketing and public relations program created incredible opportunities for sales to have high-impact client conversations. The combination of high market exposure and new business names that clearly described the services offered, made outreach significantly easier. The launch of BNY Securities Group, in conjunction with a re-branded BNY Brokerage business, conveyed a clearly organized and solutions-oriented business structure that delivered significant benefits to customers across multiple organizations. Effective, coordinated sales tools, supported by comprehensive advertising and media engagement, made client outreach far more effective and enhanced sales conversions, driving interest and new business. As a result, BNY Securities Group won Waters Magazine’s 2002 award ranking as one of the leading financial institutions, a clear indication of the market impact of the new positioning.