From data overload to insight-driven. ASX-listed Selfwealth invests in stakeholder voice to grow market share.
Context
In 2021, Selfwealth were in a period of rapid growth, largely off the back of a doubling of the active investor market. There was a huge amount of competition in the market and the Selfwealth leadership recognised early that they needed to be proactive about ensuring their ongoing sustainable growth. Having just invested in a research project with a Big 4 consulting firm which left them with lots of data but little direction, Selfwealth engaged Ne-Lo to support with deepening customer understanding, building culture, and focusing strategy, product roadmap, and brand.
Solution
Over the past two years, Ne-Lo have worked closely with the Selfwealth board and executive team to clarify purpose, and bring the voice of stakeholders into the boardroom to inform bold decisions. This has largely focused on the evolution of a customer-centric product, and a repositioning of the brand.
Throughout this process, we have engaged:
100% of Selfwealth employees
8,500+ current customers
1,000+ prospective customers
Based on insights gathered, the Selfwealth team have clarified a company purpose to guide their long term growth, developed a new product roadmap and successfully launched a number of new markets and features, and repositioned their brand with a clear focus on the target audience they provide value for.
Outcomes
Selfwealth have increase active traders from 85,000 to 128,000.
Selfwealth is now the 3rd largest (from 5th) investment platform in Australia, behind only Commbank and NAB.
“Ne-Lo’s approach gave us a firm grasp of who our customers are, why they choose us, and what they value. We also clarified our company purpose which aligns and focuses the business to achieve strategic outcomes.”
