In line with its refreshed tagline unveiled yesterday, NTUC Income will be tweaking its logo as part of its rebranding efforts. Paying homage to its original logo, Income said it has injected a "modern twist" in the selection of the pantone and typography of its logo. The new logo (pictured below right) features the new tagline "Made Yours" in blue. The font used for the tagline is "Ubuntu", which gives the logo a more contemporary look. The word "Ubuntu" means "I am, because you are" in Zulu, which is said to reflect Income's new brand promise, where Income seeks to understand its consumers and act in their best interest.
In an exclusive interview with MARKETING-INTERACTIVE, Marcus Chew, CMO of Income, said, "Orange remains predominately our main Income brand colour. Aesthetically, [the blue] also complements the vibrant Income orange nicely. If you notice, we have also tweaked the Income orange to a slightly warmer tone for both symbolic and practical reasons - to convey warmth and energy, and to be able to match with a wider range of colours."
As for the tagline, Chew explains that the colour blue was chosen because it represents trust, which reflects Income's aspiration as a personal financial planner.
The new logo with the refreshed “Made Yours” tagline represents the commitment in Income's focus on customer centricity, Chew said. The brand aims to make financial planning simple and effortless and it also wants to be a dependable brand where its consumers can trust that it will be there, understanding and anticipating their needs with the right tools and advice that they need, in good times and bad. "'Made Yours' is our brand promise to give control back to customers while being empathetic, inclusive and empowering to everyone," Chew added.
Income's brand refresh comes as it recognises that consumers are more diverse than ever and carving out different lives for themselves. "Consumers' expectations and needs are changing, and insurance that is one-size fits-all is becoming irrelevant," Chew said. Additionally, customers are digital-first, their needs are lifestyle-led and they increasingly prioritise self-serve, expects flexibility and customisation. Thus, there lies the opportunity to personalise offerings and experiences to speak to customers in a way that resonates with them.
To serve these changing consumer needs, Income wants to evolve from an insurer “Made Different” to a company that is “Made Yours”, taking a personal approach to financial planning, through hyper-relevant and hyper-personalised service, products, sales and engagement style, catered to the individual. Income's previous tagline "Made Different" was used by the brand for approximately 12 years.
To promote its new branding, Income has launched an integrated brand campaign in collaboration with BBH Singapore. The campaign will be led by a two-minute film, which is said to celebrate the distinct experiences and life journey of different people. The film, which was shot using a nano-drone, demonstrates how diverse Singaporeans’ lives are despite living side by side, and how no two moments are experienced the same way, just as how no two Singaporeans’ financial needs are the same. The film will be launched on free-to-air TV, Singtel TV and in cinemas, and supported by social and digital channels.
Moving forward, Income will be investing in data, technology and people to empower us to better understand and anticipate our customers' needs, so that our customers can make the best possible financial decisions for themselves, at different life stages and across diverse needs via their preferred Income channels seamlessly. Strategically, ‘Made Yours’ also sets the tone culturally for us internally to be agile and customer-centric in our approach and solutions as we strive to meet all financial needs.
Income also aims to be sharper at identifying and addressing customers’ financial needs – through progressive customer profiling and data mapped to life stages, psychographic application, interaction history across our online and offline footprints empowered by our unique data-tech stack so that financial planning is made personal and simple for customers.
"Income’s purpose has always been to enable insurance access to people in Singapore, including the unserved and underserved, and this will remain the bedrock of our existence. What will change is how we will pivot and adapt to our evolving environment/operating landscape to sharpen our capability to extend the access," Chew told MARKETING-INTERACTIVE.
"The traditional approach to insurance is via segmentation (for example: women, high net worth, seniors), but with hyper-personalisation, we will have the ability to pin-point specific behavioural trends or customer signals (online and offline) about the individual and enable us to cater to customers’ needs more accurately. Take the woman segment, for example, the tendency is that no one woman is the same. With hyper-personalisation, we will have signals of a mother of a young child only browsing insurance-related information at 10pm onwards and another career-driven DINK (double income with no kid) access life insurance and legacy building offerings in the early evening via coffee with advisor," Chew elaborated. With these new insights, Income will be able to use a more targeted approach to ensure that it reaches out to customers with the relevant info, at the right time and via their preferred channels.
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