Mktg 3712 Axa Case Study

Jacqueline Bright

10/21/2016

MKTG 3712

From Cold to Caring

        Trust and Expertise. These are two words which almost every insurance agency uses to define itself. However, they are only meaningful when they are upheld and can be detrimental when they are not. Prior to rebranding, AXA had seen one of its worst years. Massive changes were made to the operation structure allowing them to regain profitability by 2004, but improving business operations wasn’t going to be enough. AXA was struggling to uphold its value proposition, lacked differentiation, and has a low trust ranking among customers. AXA had been able to maintain a high ranking in expertise allowing them to keep many customers. However, AXA’s low trust ranking posed a major problem for them because having a logo which included the bold statement “Close and qualified” created a constant reminder of a promise of trust which was not being met. A large portion of this trust issue came from AXA’s employees. AXA had failed to inspire its employees causing AXA to seem cold because of poor customer experiences of not knowing who clients were, their history with AXA, or what they needed. Such issues are why rebranding was so crucial for AXA, because even though they had the expertise to provide their clients with good service they lacked the trust and warm feeling which is what makes or breaks a service company.

        AXA’s rebrand was a massive overhaul of not only the outward facing components, such as logo and slogan, but the internal ones as well including target market, management styles and employee training. In order for AXA to be successful, the company needed to differentiate itself from its rivals and create an emotional connection. They needed to realize that it is impossible to please everyone and instead should focus on a niche market. AXA conducted numerous surveys, market research, and even asked employees to share their thoughts. These actions not only allowed AXA to identify the direction their brand should go but took the first steps towards their new brand by making employees feel like they were valued. AXA’s research lead the team to craft a brand around the slogan “Redefining Standards” which was done through three principles: available, attentive, and reliable. They worked these principles into everything they did from their marketing efforts to how management interacted with employees.