Success Stories

Benefit Plan Administration Service Provider

Services – General Business Strategy; Market & Customer Positioning; Branding; Process Reengineering; Change Management

The Situation
The client organization had been providing benefit administration services to independent banks and financial institutions across Florida for more than 40 years.  But its CEO had a broader vision for the company’s future.  After having initiated major changes in systems, operating platforms, staffing, and infrastructure, he now sought to expand service capabilities and market share.

Key Challenges

• The CEO needed to work through these ambitious goals with the Board of Directors, reach consensus on direction and priorities, and develop a strategic plan for implementing change.
• Before major steps could be taken to redefine the organization in the marketplace, the company had to resolve a number of work-process and customer-service issues.
• It was clear that the company’s image and identity would have to change to fit the dynamic business entity it was seeking to become.

Our Approach

• Strategic Planning Associates was initially engaged to serve as facilitator at the Board’s annual strategic-planning retreat.  In fulfilling this role, we worked closely with the CEO
  and Board to identify organizational needs, target priorities, and generate consensus on
  a course of action.
• Based on these efforts, the Board approved and put into place a new strategic plan in early 2006.
• Our consultants worked closely with the CEO and staff in identifying, developing, and implementing improvements in work processes and customer service. 
• The Strategic Planning Associates team then helped the company develop a comprehensive strategy for redefining and repositioning itself in the marketplace. Key steps included:
• Market and customer research
• Benchmarking
• Creation of a new “brand”
• Production of marketing materials, including print advertisements intended to generate excitement about the upcoming changes
• Development of a Web site promoting the “new” company and its expanded services

Results

• Clearly defined business strategy, with agreed-on organizational objectives and priorities.
• New company name, identity, “look,” and key messages, as well a set of clearly defined customer value propositions.
• Range of promotional and collateral materials to introduce the new organization to the marketplace.
• Successful launch of the latest branding initiative – a new Web site with many valuable features and resources for all of the company’s customers (e.g., plain-English explanations of otherwise technical terms, access to a variety of information on health and wellness, and links for HR and benefit managers).