National audience research agency Explain has been awarded the contract by National Savings and Investments (NS&I) to deliver an online community after a comprehensive tendering process.
NS&I is both a government department and an Executive Agency of the Chancellor of the Exchequer, and its origins can be traced back over 150 years to 1861.
It is one of the UK’s largest retail savings organisations with over 25 million customers and more than £157 billion invested. The tender was sent out nationally to engage a market research agency with previous experience in setting up and running bespoke customer online research panels which included community elements.
NS&I’s products play a significant part in the personal savings market. The organisation is best known for Premium Bonds but also provides a range of other savings products to suit different people’s needs. When customers invest in NS&I products, they are lending to the Government, which goes towards the public purse. In return, the Government pays interest, or prizes for Premium Bonds. As it is backed by HM Treasury, NS&I offers 100% security on every penny invested.
Kim Davis, Managing Director of Explain, said: “Financial services is a core sector for Explain and we are looking forward to delivering a substantial online community for NS&I. We predict that the platform will have an online community membership of 10,000 plus people and we have worked closely with NS&I to illustrate the platform’s exceptional security elements, including Cyber Essentials accreditation and ISO. Being awarded large-scale, sensitive contracts such as this really demonstrates the technical ability that the team has to offer when it comes to delivering secure and robust online community platforms.
NS&I went out to tender nationally to engage a market research agency with previous experience in setting up and running bespoke customer online research panels which include community elements and we are delighted to have been chosen to deliver the project. As an agency we are always looking to help our clients shape the future of their business, and the future is undeniably digital. Our online community platform offers a way for businesses to listen to their consumers, in a way that is appropriate for today’s fast-paced world.”
Explain has always led the charge when it comes to using digital innovation to make meaningful connections with audiences. High profile clients from a wide range of sectors nationwide, including utilities, healthcare and manufacturing, have already adopted their platforms; recognising its benefits in increasing customer engagement and providing meaningful insights.
The build of the latest online community is part of the company’s wider suite of innovative solutions to research and engagement, which also includes mobile app surveys, collecting ‘in the moment’ data and insights.
Explain has also invested in a state-of-the-art gamification tool to allow companies to obtain service valuations with higher cognitive validity to aid in business planning. This bespoke gamification method has been developed as a way of discovering how much consumers are willing to pay for certain services, specifically when it comes to utilities.
For more information, get in touch with Kim at Explain on 0191 261 5261.