I frequently talk to my clients about naming their products and services, and about creating ‘simple stories’ that are easy for their own clients to understand and buy.
In this video, I spoke to Josh Butten of boosst financial about the impact of packaging and productisation of complex services and the positive effect naming your products can have.
A number of years ago, Josh and his family undertook a full scale rebrand of their successful financial planning business – transforming what was already a very good business into a truly great one. From back office systems and a company restructure, through to the build of their iconic eco building which was shortlisted for the ‘Green Building of the Year’, every aspect of the business was regarded as a blank page and the family challenged themselves to create the best financial planning firm in the UK.
One of the stand out parts of the rebrand is the way boosst has approached the packaging and productisation of its financial planning services. Flipping the focus in an industry that is renowned for being opaque and jargon heavy, boosst chose to lead with a customer first approach, creating a suite of simple, friendly named services – designed for different families at different life stages.
As Josh says, “Nobody ever comes to us and says, ‘Josh I want you to build me a financial plan’” but they do say, “I want to help my kids buy a property” or “I want to fund my grandkids private eduction – can I afford to?” What they’re asking is “Have I got enough?” – this is what they call the ‘one question’.
There’s so much to take away here and lessons for everyone regardless of industry. Customer first, problem solving first and simple, friendly, named and costed services, all equalling a very consumable service.
A big thank you to Josh for giving up his time, I hope you find it as interesting as I did.