Principality Building Society - VIPS in Action

Given the wider economic context, getting onto the property ladder in the UK has never been more challenging. As a mutual society, Principality Building Society (PBS) aims to place customers’ needs at the heart of its business strategy and understand how to better support the needs of first-time buyers (FTBs).

Fostering consumer closeness with VIPS

Principality collaborated with Verve to deliver a longitudinal research programme, which combined cultural, human, and artificial intelligence. A key element of this programme was creation and deployment of Verve Intelligent Personas and Simulations (VIPS). Principality’s VIPS played a crucial role in disseminating insights and fostering a culture of consumer closeness throughout the organisation. A team of 15 ‘super users’ are now championing the VIPS within their departments, helping to embed findings, align stakeholders and develop propositions and products that provide value to both FTBs and the business.

Empowering stakeholders with VIPS

VIPS have enabled Principality to present the rich diversity of insights in a digestible and accessible format. VIPS continue to allow stakeholders in Marketing, Product & Propositions, Digital & Comms to ‘talk’ to different FTB personas. This engagement empowers teams to actively interact with the insights, fostering empathy with FTBs in various circumstances, brainstorming ideas for future products and propositions, and gauging how concepts and messaging are likely to resonate with personas before market launch.

Future integration and benefits

As Principality embeds VIPS deeper within the organisation, it plans to support the day-to-day work of stakeholders across various departments, refine the products and propositions on the FTB roadmap, and provide an updated view of the FTB landscape that reflects cultural, social, and policy changes. All whilst helping to avoid the expense of research associated with low incidence sample projects.