BNY Quick Wins



Selecting Pilot/s

Firstly, a few thoughts on the approach to making selections:

What is the primary aim of a pilot?

  • To have a quick win?

  • To test the approach?

  • To show progress?

    The selection of an opportunity to be part of an early pilot has to be based on a clear aim. Some - many - of the opportunities are compelling but won't be quick to implement

    What criteria should be applied to selection - beyond answering the previous question? And how would we rank this criterion?

  • Applies across teams?

  • Applies across business functions?

  • Stands alone/low disruption

  • Ease of implementation?

  • Tackles a known issue?

  • Speed of implementation?

  • Delivers early impact?

  • Ability to measure impact?

  • Supports an existing initiative (e.g. Digital)

  • Essential foundation for North Star?

  • Capability/Resource already exists to implement it?

Possible Candidates

It needs to be stressed that these candidates have not been qualified at this stage. They would need to be assessed against agreed criteria and the assessment would be supported by the following supporting definition- or something like this:

  • Complexity

  • Degree of Disruption to the business

  • Contribution to North Star

  • Benefit

  • Applicability to business (who is affected)

  • Expected impact

  • Time to implement

  • Best target for the pilot (team/region/persona)


    1: Revisit Salesforce and look for ways to augment data captured. Establish standards across BNY (if they don't exist already). Explore ways Salesforce can help with better targeting and client insight

    Benefit - more personalised discussion, prioritization of most important clients, support to design of events and topics for discussion

    Applicability - across the company, joint collaboration Marketing / Sales

    2: Social Media Campaigns - start some targeted use of social media to introduce new ways of creating attention. Address any compliance issues alongside this so that teams are empowered and have the right guidance

    Benefit - starts to introduce new face of BNY, supports greater emphasis on digital, new sources of insight, gets people thinking differently about key messages

    Applicability - across the company, primarily Marketing

    3: Establish platform for sharing best practices - using available technology if possible or investing in available platforms. This is not just a tech play and can start without significant technology changes by greater collaboration across teams and investment in developing case studies, insights, best practices etc.

    Benefit - starts to pool the best thinking and cross fertilise what works well so that others can adopt new ways, allows for teams to share challenges and find answers that others have discovered, avoids reinventing the wheel and different approaches, can build on brand work

    Applicability - across the company, collaboration between Sales and Client Services

    4: Align Key KPI's with Industry Standards - for the things we know cause most frustration for stakeholders (clients) we make sure that the things we are measured against motivate the right behaviours and operational processes. An example would be the turn round of information - formal reporting.

    Benefit - shows an immediate change in BNY and has a direct bearing on client experience

    Applicability - across the company wherever reporting is managed / owned

    5: Create new Sales 'Toolkit' - a significant redevelopment of the collateral available to sales teams. This could range from new material through to development of a platform that thy could use to configure more personalised material. The start point (possibly all the pilot would do) is to define the 'architecture' and content and identify new (creative) ways to get messages out (see social media campaigns also).

    Benefit - supports existing brand work, kicks off a bigger exercise that will be needed and introduces new structure and disciplines, creates some early material that is on brand but starts to shift the model

    Applicability - across the company, joint collaboration between Marketing and Sale

    6: Establish the Data Hub - a cross company shared platform for building insight and market data. This would have client areas as well to allow them to personalize data and provide perspective

    Benefit - an underpinning for many other opportunities so lays foundations for things to come. Starts to gather more insight and connection to clients, speeds up turnaround of information

    Applicability - across the company

    7: Extend the Potential of Pershing - There's an inevitable and unanimous appreciation that a platform approach will resolve many of the demands heard from BNY teams and also (as we understand and infer) from clients - these range from demands for self service on their own terms, the rapid and 'always on' provision of real time reporting, cross device (Mobile/Tablet/Screen) convenience, the seamless integration of dashboards and critical data within clients own workflows and platforms and much more

    Benefit - better and faster information access for IFAs, a platform for BNY to get points of view and insight out to the IFA network, makes IFA feel more in control of the facts and well informed in front of their clients

    Applicability - IFA community across all business functions

    8: Redesign the Reporting Model - this works with other candidates potentially but can also be treated as a separate quick win by introducing new formats for the information currently provided.

    Benefit - shows BNY in a whole new light so impact is immediate, introduces new ways of communicating without major shift in operational processes and starts to experiment with new formats and ways of treating data that can feed into the more in-depth work that will follow. This should also simplify information for end recipients.

    Applicability - across the company, wherever reporting is owned

    9: Themed Campaigns/Events - supported by thought leadership pieces and working alongside social media campaigns (see #2). There has been a lot of talk about the potential value in shaping insight on certain topics - based on where the industry is heading or where there are big issues emerging. This could be tackled as a collaborative approach across regions potentially (depending on the topic of course). Maybe join up with independents / thought leaders in adjacent topics?

    Benefit - helping to spotlight BNY knowledge and expertise and shaping the thinking of the target stakeholders. Building relationships or sustaining relationships when it is hard to get the attention. Using this to inform product development to stay ahead of the curve.

    Applicability - will probably be regional specific lens but the approach to campaigns could be adopted across the company as a best practice

    10: Ask the Expert - create opportunities for target clients to have access to experts to delve into specific issues, outside of the general interactions. Develop this into an online capability over time that captures the questions and answers and builds a value add information repository

    Benefits - give the client a feeling of being better understood and makes it easier to personalise data for client (assumes data is collected in a way that builds knowledge of the client)

    Applicability - across the company, collaboration with product team / Boutiques

    11: Send A Compliance Officer to Spain For 6 Months and test the increased quality and coverage of communication and increased engagement - see also #2

    Benefits - accelerate the ability to create better dialogue with customers, improve the response time on everything, give the team content that can be used in every form of dialogue - throughout the funnel.

    Applicability - regional but would prove a model that will have impact (learning) and value on the existing business process

    12: Engage A First-Class Quality Copywriter/Creative Team - create better collateral and messaging borne out of compliant copy - design far more impactful and less dry materials and package the content better and across newer channels - see also #2 #5 #9

    Benefits - raise the bar for impact, attention and distinction in all media channels and forms of dialogue. Tick the big theme of being educative, informative, relevant and proactive in getting the message and story out there

    Applicability - across the company, led by Marketing - especially as the new brand/positioning comes in

    13: Skills Swap - bring people with expertise from one area to another to more quickly upgrade learning and experience and different thinking - cause more collaboration and overcome the 'oh I did not know that' effect. See also #3 #10

    Benefits - accelerate the experience and expertise in an innovative way - many side effects such as cultural improvement and understanding and appreciation of others positions

    Applicability - across the company

Other Things to Validate

  • Can we justify our selections and on what basis?

  • How would we define success and what impact are we expecting to have?