Svea Bank
July 2023

When Svea needed a Value Proposition they turned to Accelero

How we helped define and clearly communicate the various products and services in Svea’s current payment solutions portfolio.

When Svea needed a Value Proposition they turned to Accelero

What it is

At its core, a Value Proposition is the promise of value to be delivered. It’s a way to look at a product or service and answer the question every customer ultimately wants to know – what’s in it for me? 

A clearly defined Value Proposition helps sales teams effectively communicate the unique benefits and value of a product to potential customers. 

It helps marketers understand the product's key selling points and unique features, allowing them to create compelling content, campaigns, and advertisements. For customers it will be even easier to identify products, value, and whether it’s right for them.

Background

At a glance

The Value Proposition allowed Svea to not only bring together multiple teams to be on the same page and start working together, but also create marketing materials that align all of their payment products. Svea has since come back to request value propositions for even more products.

About Svea

Svea is a financial company group with over 2,000 employees and operations in several European countries. With forty years of experience in helping small and large businesses in all industries with their liquidity, Svea is a natural choice for many entrepreneurs when they need a financing partner.

Our process

Initial research let's us get a high level understanding of the product, competition, audience and brand. Following that we conduct surveys to get more insights and deepen our understanding. The next step is following up with interviews to get a clearer picture. Once all data is collected and organised we prepare the actual value proposition.

Based on extensive research, surveys and interview we're able to put together a value proposition that clearly states the products core values as it relates to the customer and their expectations.

Problems, Solutions, and Outcome

Throughout the project, we worked closely with Rikki Thornton, Marketing Manager for Payment Solutions at Svea. Before they had a proper Value Proposition for their products it was hard to take a step back and see the bigger picture when you’re working with so many products, says Rikki. 

“Not to mention you simply don’t have the time or capacity to sit down and figure it out. So you’re working rather siloed instead of working on your products together, and so is the rest of the team.”

The way Rikki saw it, a Value Proposition would solve a lot of problems they were having at the time. Such as getting a sense of where their products stand in the market, being able to see the similarities and differences in their products, and bringing together the products in a cohesive way. Not to mention bring together product teams in order to work more aligned and create products that are beneficial for Svea’s merchants.

When it came to finding a partner to help manage the project and bring about the Value Proposition Rikki decided on working together with Accelero. The reasoning behind this she felt was; 

“The employees and the professionalism, understanding, and connection to the team. I felt I could rely on the team to follow up when they said they would and push the project along as needed. Simply put, they made it easy to work with them. 

It was clear Accelero is motivated and understands needs. I felt from step one that we were on the same page and the team easily pivoted where needed. I always felt that even if the answer wasn’t clear, they would find the answer or come back with more questions to clarify.” 

A lot of work went into really understanding not only the various products and offers at a fundamental level, but also the current market, trends, and competition. We worked closely with Rikki and her team, conducting surveys and interviews that led us to paint a clear picture of the product portfolio and map out differences, synergies, and the respective product’s place in the overall offering. 

In the end, the Value Proposition empowered Svea to bring together multiple teams to be on the same page and start working together and creating marketing materials that align with all of their products.

Conclusion

We checked back with Rikki after the project concluded to see how the Value Proposition was received internally and if she had any final thoughts on the project; 

“The VP was so well received by the CMO, all BA Managers, etc., so we came back to add more products!”

So we’re kicking off another project to continue working with Svea and Rikki. We asked Rikki to summarise the project and the experience in a single word and we couldn’t agree more when she said; 

“Fun! You guys were so fun to work with - we talked about a lot of less-fun things but always in a fun way and in a way that made it easy to understand. The work process was quick, to the point, and professional but always fun.

“I would recommend Accelero for their professionalism, energy, ideas, and general willingness to get a project done and get it done fantastically.”

Are you currently struggling with defining your unique Value Proposition, or perhaps need to redefine your product, service, or offer? Give us a call and let’s do some great (and fun) work together!

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