Tessa Pettman - Becoming Wise: how we built the TransferWise brand and why we became Wise (Turing Fest 2022)

In this session, Tessa shares how they built the brand architecture for TransferWise, how they live their brand values in everything they do, and how they changed their name to Wise without losing customer trust.

Head to www.turingfest.com to learn more about Europe's best cross-functional tech conference.

Transcript

1. Becoming Wise. How we built the TransferWise brand and why we became Wise. Tessa Pettman Global Head of Product Marketing
2. Money without borders — instant, convenient, transparent, and eventually free. — Wise Mission
3. 2011 2020
4. Building the TransferWise brand.
5. We were founded to solve a real life problem.
8. £ € £
9. 1,000 GBP ! EUR
10. 1,000 GBP ! EUR 4.8%
11. 1,000 GBP ! EUR £41.16
12. 1,000 GBP ! EUR £41.16 Mid-market
13. £41.16 £4.28 1,000 GBP ! EUR
14. 2022 In 70 countries around the world 13 million customers to send, spend or receive money 1,200+ currency routes moved for customers every month £6 billion / month
15. The role of brand 
 in driving growth.
16. @nilanp @balazsbarn RATIONal Product Brand
17. Your brand is what people say about you when you’re not in the room. — Jeff Bezos
18. Money transfer isn’t sexy. nd
19. We needed to build a brand that connected with people’s emotions.
20. @nilanp @balazsbarn RATIONal Rational Emotional
21. @nilanp @balazsbarn RATIONal 5% 95%
22. Building blocks
23. Building blocks Social Context Company Beliefs Personality Purpose
24. Building blocks Social Context Company Beliefs Personality Purpose 2008 Financial Crisis Finance Needs Fixing Company Culture TransferWise Mission
25. Brand Platform Money Without Borders
26. Rational Value Brand Platform Instant, Convenient, Transparent, Eventually free Money Without Borders
27. Rational Value Emotional Value Brand Platform Instant, Convenient, Transparent, Eventually free Freedom, Empowerment, Trustworthiness Money Without Borders
28. Rational Value Emotional Value Brand Platform Instant, Convenient, Transparent, Eventually free Freedom, Empowerment, Trustworthiness Money Without Borders Brand Values Bold Current Honest Cheeky Clever Friend
30. Living our brand values 
 in marketing.
33. <naked stunt pic> Maybe money transfer is sexy after all.
34. Living our brand values 
 campaigning for our beliefs.
37. Living our brand values 
 in product.
39. €0.02 more expens
42. Living our brand values 
 in customer comms.
43. Added a new fee.
 

44. “No one likes fees”
 

45. Transparency builds trust.
 

46. Why we became Wise.
47. Customers Problems Products Brand platform People and businesses Banks and big businesses Sending money across borders Managing money in multiple currencies Underlying infrastructure Money transfer International account Platform Money without borders.
48. Customers Problems Products Brand platform People and businesses Banks and big businesses Sending money across borders Managing money in multiple currencies Underlying infrastructure Money transfer International account Platform Money without borders.
49. Customers Problems Products Brand platform People and businesses Banks and big businesses Sending money across borders Managing money in multiple currencies Underlying infrastructure Money transfer International account Platform Money without borders.
50. Customers Problems Products Brand platform People and businesses Banks and big businesses Sending money across borders Managing money in multiple currencies Underlying infrastructure Money transfer International account Platform Money without borders.
51. But we had a big 
 perception problem.
52. “It’s called TransferWise, it must be for transferring money.”

53. We’re so much more than transfers.

54. An account for 50 currencies.
55. A card to spend around the world.
56. A business account for going global.
57. A platform for banks and big businesses.
58. TransferWise Wise
59. Money transfer Disrupting international banking
60. What does it take?
61. Insight.
 Positioning.
 Testing.
 
 
 Customers & prospects 3 product areas Market Competitors Rational value Emotional value

62. Insight.
 Positioning.
 Testing.
 
 
 Workshop Positioning canvas Messaging house
63. Insight.
 Positioning.
 Testing.
 
 
 ✅ Usability ✅ Comprehension ✅ Readability ✅ Feeling ✅ Behaviour 

64. You just change the logo, right? In 4 months: • 16m URLs redirected • 8.5m emails • 20,000 lines of code • 1087 creative assets • 286 pull requests • 150 logo concepts • 30 card design concepts • 7 new Wise videos • 2 new card designs • 1 new logo design • 1 early switch flow • 1 interstitial • 1 wall
65. 1 new logo.
66. 1 new domain.
67. 2 new cards.
68. 6 new handles.
69. 7 new explainer videos.
70. 2 interstitials.
71. New card. 1087 creative assets.
72. 8.5 million emails. Screenshot
77. What did we learn?
78. Building a brand
79. Building a brand ✅ Clear mission
80. Building a brand ✅ Clear mission ✅ Organisational truths
81. Building a brand ✅ Clear mission ✅ Organisational truths ✅ Live your values
82. Building a brand ✅ Clear mission ✅ Organisational truths ✅ Live your values 🎉 Authenticity ! Trust
83. What did we learn about rebranding?
84. Rebranding
85. Rebranding ✅ Listen to your customers
86. Rebranding ✅ Listen to your customers ✅ Honour product evolution
87. Rebranding ✅ Listen to your customers ✅ Honour product evolution ✅ Be brave, create space
88. Rebranding ✅ Listen to your customers ✅ Honour product evolution ✅ Be brave, create space 🎉 Stick to your values
89. Bold Current Honest Cheeky Clever Friend
92. Thanks.