| Expand the ‘rock pool’ beyond the >R500 000 customers of our top corporate clients |
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- This strategy remained a challenge during the current year
- 146 financial well-being days were held during the year and 1 259 member education presentations, reaching 18 722 employees
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- With the customer at the centre of the institutional value proposition, access to the institutional member has been made easier
- The target for 2018 is to hold 100 financial well-being days and 100 digital well-being events, 2 245 member education sessions and 81 campaigns to clients nearing retirement age. We anticipate that these initiatives, combined with on-site sales and service presence, will enable us to improve penetration into the member base
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- 10% – 15% penetration into active member base
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- Delivery of the customer value proposition
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| Optimise digital channels |
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- During the year the retail division finalised its selection of its optimal distribution channels, tied agency and future IFA/ broker channels
- The number of existing tied agents was expanded to optimal levels within specific product areas and the business expanded its existing relationships with IFAs and brokers
- The IFA channel strategy was expanded to include IFA support across both institutional and retail businesses
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- Development of the tied agency strategy and expansion of the tied agency
- Expand IFA support of AF products across all retail product lines, particularly in the wealth and investment areas where support is currently low
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- Optimal distribution levels, with robust internal and external channels supporting AF products
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- Regulatory changes may impact the speed and manner of adoption of digital strategies
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| Define and develop longer-term solutions to attract a new generation of customer |
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- During the current year we have defined the customer value proposition which has been aligned to institutional
- The future digital capabilities have been defined, with business requirements completed
- A product gap analysis has been completed and will be used to inform future product development
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- The customer value proposition will be embedded in the business and in the customer experience
- The project to implement the new operating system into the business will be under way providing future capabilities to engage with clients via multiple channels
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- Clients are engaged via multiple channels, offering innovative products best suited to client needs
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- Delays in the implementation of the system could delay timelines
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| Build a strong Alexander Forbes brand |
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- Alexander Forbes is considered a credible thought leader in financial services
- Audit of all communications across client base
- Targeted and themed digital campaigns
- Financial well-being worksite activations
- Streamlined member education presentations to member base
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- Expand media presence to include publications targeted at individuals
- Consistent communications to all customers across the entire base
- Targeted campaigns aimed at segmented clients
- Financial well-being worksite activations including roll-out of financial well-being statements to targeted institutions
- Reconceptualised member education presentations across multiple communication channels
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- Best practice in media relations, reputation management, marketing and client communications to support group strategy
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- Weakened operational performance due to macroeconomic and competitive challenges that may attract negative media publicity
- Systems dependency to digitally render initiatives and deliver a holistic client experience
- Resource bandwidth
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achieved
not achieved
