Molecular Helps T. Rowe Price See the Value and Impact of Investing in their Web Site
“As an organization that values an analytic approach, Molecular’s rigor and emphasis on quantitative analysis really made them stand out. Their unique approach gave us a much richer understanding of our customers and has helped us achieve strategic alignment in terms of how we see
ANNUAL SATISFACTION SURVEY COMPELS THE investment firm to rethink its web presence T. Rowe Price has long prided itself on delivering world-class investment guidance and personalized, high-touch support to its clients. As a result, the company hadn’t invested much time or money in its Financial Intermediaries web site since the late ‘90s. But when annual satisfaction surveys began to show that clients valued an effective web site, T. Rowe Price knew it was time to rethink its site and how it could be used in the B2B financial services arena—specifically for third party distribution of financial products—to drive and differentiate their business. To find the right answers, T. Rowe Price needed a proven analytical partner—and Molecular’s rigor and quantitative approach provided just the right fit. Using analytics to get to the heart of a world-class web site Molecular went to work, using its IMPACTSM process to identify and prioritize opportunities for the T. Rowe Price web site. Molecular conducted key stakeholder interviews that revealed three key strategic objectives for the site. The team then conducted in-depth customer interviews as well as a survey, which identified four behaviorally-based segments that formed the basis of four personas.
our customers and how we approach our business.” Bill Weker VP, Marketing Manager T. Rowe Price
Deliver on customers’ needs. Leverage technology. Prioritize. The four T. Rowe Price personas expressed a need for quantitative and qualitative information, instant investment updates, and social networking. Based on this insight, Molecular developed a set of six key internet initiatives designed to meet the needs of each persona and tie back to the three strategic objectives for the site. Finally, Molecular created a technical roadmap that prioritized features and functionality and mapped them back to T. Rowe Price’s technical infrastructure. T. Rowe Price: Ready to make a sound web investment Empowered with new insight and well-defined initiatives, T. Rowe Price is positioned to build a world-class web site that connects with customer needs—and the company’s bottom line. Ultimately, the web site could be leveraged to realize a number of big-picture business advantages, including a lower cost to serve, new revenue opportunities, increased brand perception, and greater marketing efficiency.
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Published on Mar 13, 2009
When annual satisfaction surveys began to show the value of digital, T. Rowe Price knew it was time to further differentiate their business....