Nonprofit KiwiSaver and investment fund provider Simplicity is celebrating its 10th birthday this year. Chief marketing officer Liv Lewis-Long talks through 10 tips from the first decade.
In a decade, nonprofit Simplicity has gone from a disruptive idea to one of Aotearoa’s top 10 KiwiSaver schemes (based on funds under management), on one of the smallest (relative) marketing budgets I’ve worked with. To mark a momentous milestone, here’s what I’d tell any marketer trying to build a brand – without the big budgets you get with the banks.
1. Build a product worth talking about and let it do more of the talking
If what you do is genuinely different, you can spend far less convincing people that you’re unique. Our original brief to global powerhouse agency Special was to look like anything but a bank and let the model carry the story. The more your product does the selling, the harder your marketing naturally works.
2. Treat a small budget as a discipline, not a disadvantage
A limited budget forces sharper choices. You can’t afford to be vague, or to say yes to every niche opportunity that comes your way. While spreading across as many channels as your budget will allow (thanks James Hurman for the advice), keep your advertising well-targeted but broad reaching. Used well, I believe constraint is a strategy in itself.
3. Own one distinctive asset and never let it go
In a sea of corporate blues and greys, a wonky orange smiley face (inexplicably named Artie) still signals Simplicity in an instant – a decade on. Pick the asset that’s unmistakably yours and commit to it for the long-term. Despite what agencies tell you.
4. Resist the rebrand itch
Following on from point 3, longevity is highly underrated. We’ve resisted refreshing the brand every two or three years to chase a trend, and that consistency has compounded into probably more recognition than our budgets deserve. Familiarity is an asset, so avoid resetting it to zero unless there’s a really compelling reason to do so.
5. Put your founder on the pulpit
A founder willing to say the unpopular thing, on the record and repeatedly, is worth more than any media buy I’ve made. Sam Stubbs has spent 10 years being loud about fees, bank greed and the housing crisis, and is willing to be called wrong in public. People don’t become followers because of a logo, but they’ll follow someone who clearly practices what they preach.
6. But don’t let the brand rest on one set of shoulders
Founder-led is a strength and a risk at the same time. If the whole brand is dependent on one voice, you’re exposed the day that voice goes quiet. Lean on and/or hire talent that can help bring personality to your brand and give them the platform(s) to help build trust for you.
7. Show it, don’t just say it
Turn the assets you already own into media. Even a service business often has things in the real world: offices, sites, vehicles, packaging. Brand them strongly. Our bright orange Simplicity Living scaffolding around apartments we’re building near to Auckland’s southern motorway wasn’t a marketing play to begin with, but it’s become one of our most visible assets, working every day at no extra cost. Look at the surfaces you already own before you pay for new ones.
8. Events are worth their weight in gold
When the decision you’re asking people to make is a big one, showing up – in person – matters. Switching a KiwiSaver or a bank is a high-trust call, and we’ve found in-person events, not just the online kind, engage people more than almost anything of equivalent cost. High effort, low cost, high efficacy.
9. Build trust by leading with emotion, not attributes
People remember how a brand made them feel long after they’ve forgotten its feature list. Lead with the emotion and the why, rather than focusing on your product’s attributes. But make sure you practise what you preach, because trust built on a promise you don’t keep is worse than no trust at all.
10. Plan for the long term, not just the next campaign
The most valuable brand work rarely fits inside a single campaign. Decide what you want to stand for over many years, then be consistent about it, even when a shinier idea comes along. It’s the thinking behind our own 100-year brand plan, but the principle holds at any budget: play the long game.
Ten years in, and as a brand we’re still learning. And I’ll continue to make mistakes into the next 10. But most importantly for me: consistency, and simplicity, compounds.
Simplicity disclaimer: This content is our opinions and is provided for general information only. It does not relate to your particular financial situation or goals and is not financial advice or recommendations. Simplicity NZ Limited is the issuer of the Simplicity KiwiSaver Scheme and Investment Funds. For Product Disclosure Statements and more on our fees, the Simplicity Foundation and investing approach, go to our website simplicity.kiwi.
