The Opportunity
The financial industry has changed a lot in the last 20+ years, and this client would know. Michael’s business used to grow through word-of-mouth and reputation, but it was getting harder and harder to reach new clients. It’s no longer effective to just pick up the phone or hope for to use a personal connection to get in front of decision makers in the banking industry.
Peregrin offers a full range of services to help banks better manage debt management plans (DMPs) for their customers, offering control for what is often a hard-to-manage, but required, service. Every bank has this challenge, and most use a mix of services to handle the various aspects of their DMPs. With Peregrin, they can simplify the process with an all-in-one SaaS product. Working with them should be an easy choice, but a lot of the decision makers at banks aren’t aware that there’s a better solution for their DMP challenges.
The Challenge
One of the biggest challenges was reaching the right people in an industry that is dedicated to protecting their company; his ideal clients aren’t going to put their email in a newsletter sign-up and reveal that their company is looking for assistance. Additionally, Peregrin offers such a wide variety of services, and trying to explain what they do and who they do it for took a several-minutes-long discussion.
There is no hard data for the benefits, and in order to implement the system, banks need to involved their vendors, information security, and IT. There’s worry about sharing customer data, and that the whole process is going to be cumbersome and not worth it in the end.
Ultimately, the biggest challenge was that the decision makers at the banks weren’t always aware that there was a problem with the current process, or if they were aware, it wasn’t a high enough priority to be something they wanted to get involved with.
What Peregrin needed was a way to get the people actually running the current DMP process engaged, and then enable them to start getting the decision makers involved. To do this, they needed to create an irresistible brand message, a consistent and powerful marketing strategy, and a plan for implementation that was easy-to-understand and manageable.
Developing A Simple Step-by-Step Process, To Make It Easier to Get Started.
Our Approach
Peregrin needed a better way to talk about their business, and some new options for bringing in new clients. We started with their brand message. Because they offer multiple solutions, custom to each client’s needs, they needed a brand message that spoke to everything they offered. Working together, we came up with:
For many financial institutions, debt relief is hard to maintain and prohibitively costly to automate. Peregrin optimizes the DMP life cycle, providing in-depth reporting, automated processes, and CCA support, so you can focus on retaining customers and increasing recoveries.
Once that was ready, we created a full brand strategy, communication framework, and marketing playbook that solved Peregrin’s challenges and made it easier to reach their goals.
Six Weeks of Strategy Sessions
Over six weeks, we worked together to build a strategy that not only would get their brand in front of the right people, it would provide the education and insight needed to help make the decision to work with the Peregrin team.
During this time, Peregrin was also able to start using the same messaging and strategies to enhance how their sales team operated, leading to better customer service and a more effective sales process.
Strategy Highlights
- New Brand Message
- A Clearer Insight into What His Business Really Offers
- New Sales Funnel
- Sales Message Optimization
- Automations to Make Marketing Easier
- Step-by-Step Customer Journey Map
- Social Media Strategy, With Emphasis on LinkedIn
- How to Write Case Studies While Protecting Client Confidentiality
- Website Recommendations (Including a Wireframe for Their Home Page and Sales Page)
- Six Months of Weekly Step-by-Step Marketing Strategy
Website Update
Starting Design
Finished Design
Results
While implementation is on-going, Peregrin is already seeing improved results. At our six-month check-in, Michael spoke about the exciting new changes within his company. By implementing our strategy, he was able to put together a website that really spoke to his customers’ needs, start leveraging LinkedIn, draw in more leads through lead magnets and case studies, and improve what the pre- and post-sale process looks like.
Communicating With Clarity
After developing their messaging, it became easier for Peregrin to explain what they offer, who they offer it to, and how their clients benefit.
What Peregrin Said:
“We have worked with agencies and freelancers who created ads, postings, and media strategies, but Bright Scribe is the first (and best) to ground us, help us reflect on our true value/benefit, and articulate it. We went from describing our business by explaining the space we work in, to creating two simple statements, one just 5 words long, that successfully elicit the question of “How?” or “Tell me more”. Used in postings and blogs, this has generated more response than anything else we have done before. They have a process that is easy and thought-provoking. Her guidance will change the way you think and feel about your business and your value proposition so you can project your confidence in your marketing and communications. Strongly encourage working with Bright Scribe Media, the value is enormous.”
Mike Morency
CEO, Peregrin
