Suncorp creates moments that matter with new Discovery Centre

The situation

Suncorp is one of Australia’s largest providers of banking, insurance and financial services. It is a top 20 ASX listed company, employs over 13,000 people and has assets of around $100 billion.

Through a number of mergers and acquisitions, Suncorp is now the custodian of a portfolio of well known brands, including GIO, AAMI, Apia, Shannons and Terri Scheer.

Suncorp’s vision is to be the destination for moments that matter and two of its key priorities are elevating the customer and creating a unified marketplace which enables Suncorp to create choice for its customers, and provide solutions that are personalised, easy to select and create value. This a significant shift from a ‘product selling approach’ to an approach that focuses on what the customer cares about the most.

Suncorp is operating in a competitive market where customers have higher expectations of their ‘retail experience’.

The challenge

Suncorp’s challenge was – how to create a unified and immersive customer experience that spans a portfolio of diverse brands. Suncorp needed to create a ‘one stop shop’ for a broad range of financial services, from traditional banking to more tailored advice and services, that was engaging for the customers, resulting in tangible outcomes, both for Suncorp and the customer.

The solution

Suncorp launched its new Discovery Store, in Pitt Street Mall, in the heart of Sydney’s CBD and retail precinct in December 2017.

The new store spans two stories across 446 square metres and is built around a central amphitheatre, where Suncorp can host live events and workshops and create connections with third parties that can help provide solutions for customers.

The Discovery Store, the first of its kind in Australia, brings Suncorp’s customer strategy to life.

“The Discovery Store is the physical embodiment of our Marketplace strategy” said Suncorp’s CEO and Managing Director, Michael Cameron when the store was officially opened.

“We know customers fall in love with a home, not a home loan, and so in our Discovery Centre, we will be having conversations that shift the focus away from financial products to be about each customer’s life goals”.

The aim of the Discovery store was to create a physical space where customers could be educated and inspired through their entire research and purchase process for large milestone moments like buying a car, a home, an investment property, or retiring.

Key to the success of the Discovery Centre was a range of digital and visual media.
For example, some screens are being used to display tailored content, based on the particular time of the year, or key events; others screens are being used to highlight different events and promotions and tablets are being used to better understand customer needs and match them with the staff member who is best-placed to help them.

To support Suncorp’s objective of creating a social and immersive experience, Engagis created an environment with visual content that could be navigated intuitively and complemented the role of Suncorp staff.

The space is open, has flexible spaces, even a barista, and was designed around making customers feel comfortable and facilitating conversations.

“Customers are looking for more than just financial products. Our store allows us to touch over more than traditional banking products and facilitates a unique experience with a wider source of selection for customers,” explains Chris Fleming, Head of Stores Transformation and Optimisation at Suncorp.

How did Engagis help?

Engagis had previously helped Suncorp create two Concept stores (Parramatta – Sydney and Carindale – Brisbane) which represented a move away from traditional bank design, by bringing in innovative technology including a concierge system, wayfinder, interactive screens for workshops and classes and video walls for large scale brand impact.

Suncorp approached Engagis to help bring to life its vision for the Discovery Centre.

By understanding the customer journey in the physical space, and Suncorp’s objectives, Engagis designed and implemented a number of digital touch points across different zones in the store. Included in the solution were large interactive touch screens for customer workshops, medium sized interactive touch screens in meeting rooms for dynamic sales and service conversations, smaller touch screen kiosks running a ‘Discovery’ app to help customers through their milestone moments, and a large video wall which was a hero piece for the store.

The results

The Discovery Centre is core to Suncorp’s strategy and it is delivering results in two key areas:

Improvement in Suncorp’s net promoter score (NPS) for customers visiting the Discovery Centre. NPS is a measure of customer satisfaction and measures how likely the customer is to recommend Suncorp

Broadening of the conversations Suncorp is having with its customers

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