The following is one example of cg42’s work with MetLife as part of a long-standing relationship since 2015.
In 2015, MetLife approached cg42 to help them to reposition their Global business. MetLife had succeeded where others had failed by maintaining its fiscal integrity through market fluctuations. This had allowed it to acquire assets around the world from its rivals. Those acquisitions in Asia, Europe and Latin America had created a Global financial powerhouse but MetLife was still pegged by its main audiences as ‘The American Life insurer that uses Snoopy.’
cg42 convened the Global leadership around the challenge— to build trust, understanding and relevance for the company and to tell the true story of where the business intended to go in the future. To do that meant getting focused on the changing nature of the business. Moving from volume to value and diversifying into more customer-centric and segment-driven offerings.
Build trust, understanding, and relevance for the company and to tell the true story of where the business intended to go in future. To do that meant getting focused on the changing nature of the business.
A central challenge was to create a compelling quantitative case to move beyond the company’s beloved and long used mascot—Snoopy and Peanuts. The company had licensed Peanuts for over 30 years and the approachability of the characters had helped to humanize the business for key audiences. Employees particularly were enamored with him and he was part of the culture.
We built a global quantitative study that allowed us to evaluate the performance of Snoopy alongside the company’s other assets and used a Discrete Choice model to evaluate it’s business impact. We also evaluated the cultural contribution of the characters with employees.
We were able to show that, though Snoopy had been an asset for the business for 3 decades, the time was right to create a unique strategy and ultimately a new identity for the company that could showcase the journey they were on and the value they could create for customers.
MetLife launched the new strategy and identity in fall 2016 and we continue to work with them at a Global and regional level.
The Right, Tough Choice:
cg42’s Discrete Choice model demonstrated that, while Snoopy had been a valuable asset for three decades, change was necessary.
MetLife clearly needed a unique strategy and a new identity showcasing the journey the company was on and the value it could create for customers.
The company was able to make the difficult but necessary choice to retire what had become a beloved brand asset and company mascot.
MetLife launched the new strategy and identity in fall 2016, and continues to work with cg42 at a Global and regional level.