getting personal“We believe 100 percent in one-to-onecommunication with customers.”Gregg Cromeans, Director of Individual Life Marketing, Prudential Financial

Prudential Financial Case StudyXerox Insurance and Financial Services

“Our intent is to grow this approach into a company-wide marketing and document strategy...it makes good business and financial sense.”Gregg Cromeans, Director of Individual Life Marketing at Prudential Financial

Client ProfilePrudential Financial Inc., with approximately $422 billion in total

assets under management as of June 30, 2003, serves individual and

institutional customers worldwide. Prudential Financial and its affiliates

offer a variety of products and services, including life insurance, mutual

funds, annuities, long-term-care insurance, pension and retirement-

related services and administration, asset management, banking and

trust services, real estate brokerage franchises and relocation services.

The ChallengePrudential Financial was introducing alife insurance product not currently in its product portfolio�a product targetedto affluent customers that commanded avery high premium. It was a sophisticatedestate planning product, requiring aproducer to spend time reviewing theoptions with a prospect. The producerstargeted were the top ones for PrudentialFinancial and third-party producers,thus ensuring that any impact the producthad would be significant.

Prudential Financial wanted to offer its producers flexibility in brochureoptions without compromising regulatory compliance with specificproduct language.

Increased sales one goal among many.Prudential Financial�s primary goal was to increase sales for the new product in a cost-effective manner.Additional goals included:

� Reducing the cycle time of launchingmarketing materials to support theproduct launch

� Increasing effectiveness of sales and marketing collaterals

� Differentiating Prudential Financialfrom competitors

� Increasing productivity and loyalty of captive and independent producers

With such stiff rivalry in the affluentmarket, Prudential Financial needed more than just a competitive product. The company also sought an innovativenew way to help producers communicateproduct benefits to customers.

Personal approach the best way to go.According to Gregg Cromeans, Directorof Individual Life Marketing at PrudentialFinancial, the goals could best be metwith a new innovative personalizationstrategy. �We started by recognizing that captive and independent producersneeded effective marketing collaterals,�Cromeans explained. �We also knew that, by engaging each customer on aone-to-one basis, the customer�s reactionto how the product meets their needsgrows significantly.�

Xerox Global Services provides the answer.Xerox Global Services was selected todevelop an innovative collateral system to offer personalized materials. PrudentialFinancial was impressed with the team�sknowledge of the insurance industrycoupled with its creative and flexibleapproach to meeting Prudential�saggressive time frames for release of the new product.

The SolutionThe Xerox Global Services PersonalizedCommunications Services practice teambegan by partnering with the PrudentialFinancial marketing staff to gain a better understanding of the marketingcommunications delivery strategy.

The proposed solution utilized Xerox�sDigital Collateral Service offering. This hosted solution represents acomprehensive workflow consisting of the following activities:

� An easy-to-use Web-ordering andtailoring interface guides users through the creation of the brochures

� A Digital Asset Management systemcontrols storage and placements ofcontent, logos, images and graphics

� Document Composition softwareenables construction of the personalized brochures

� High-quality digital color output on theDocuColor® 6060 Digital Color Pressand DocuColor iGen3® DigitalProduction Press

� Flexible delivery options for the producer

Group practices what it preaches.To roll out the program, PrudentialFinancial printed personalized brochuresand introductory flyers for a targetedgroup of producers active in the estateplanning market. These sample brochureswere included in product launch kits to help promote this new capability.

Solution is flexible, affordable and high quality.The mandate from PrudentialFinancial was that the solution must address the following:

F L E X I B I L I T YThe end solution had to offer a significant degree of flexibility to allow Cromeans’ group to startsmall and grow as it demonstratedsuccess on the first project.

C O S T - E F F E C T I V ETo make the transition to this new method of providing collateralmaterials, a cost-effective, scalablesolution was critical. This meant aunit cost that was only marginallyhigher than traditional print.Cromeans felt he could justify theadditional unit cost on a productthat had appropriate premiums for the affluent market.

O U T P U T Q U A L I T YSince personalized print on demandwas to be the only method availableto provide these high net-worthcustomers with point-of-salematerials, the output quality mustbe close to traditional offset quality.

N E W S O F N O T E

The Challenge:• Increase effectiveness of

sales and marketing collaterals

• Differentiate Prudential Financialfrom competitors

• Increase productivity and loyalty of captive and independent producers

• Reduce the cycle time of launching a new product to the market

The Solution:• Digital Collateral Services

from Xerox Global Services

• Relevant sales brochurespersonalized with text and images for the client with producer contact info, logo and photo

• Simple Web requisitioning and tailoring with just-in-timeproduction and delivery

• System developed, hosted and managed by Xerox

The Results:• Increased producer satisfaction

and created demand for morepersonalized materials

• Changes to collateral now made in days, not weeks

• Over 75% of newly launchedproduct sales using personalized materials

C A S E S T U D YS N A P S H O T

The project also challenged several areas within Prudential Financial to altertheir role in the collateral developmentprocess. For example, the design areawas not accustomed to creating for printon demand. They adapted, however, bydesigning several different templates inpartnership with internal marketing andXerox Global Services.

According to Brian Stancampiano ofXerox Global Services, early adopterclients are finding sales and marketingliterature to be excellent tools to acceleratereturns on their CRM initiatives.

The ResultsFrom start to finish, Xerox GlobalServices assessed, created and launchedthe pilot in less than 90 days andPrudential Financial has alreadyexperienced increased producersatisfaction with this new marketingcapability. At the end of the first sixweeks, 540 brochures were ordered.

Of these, 80 percent were ordered with partial or full personalization. These early results are a predictor ofagent acceptance of this innovativemarketing communication strategy.

© 2004 XEROX CORPORATION. All rights reserved. XEROX®, The Document Company® and the digital X® are trademarks of XEROX CORPORATION. 2/04 610P715580A 36 USC 220506

Early indications suggest profound impact to come.Ordering volume and feedback fromsales channels already indicate that thisnew platform will significantly affecthow the company develops and providessales materials in the future. Cromeansand his team are already working to add other high-impact pieces to thisinnovative new personalized platform.

Other areas express interest in personalization strategy.Prudential Financial has also seen several other areas asking to add theirmaterials for personalization to the new platform. This signals an initial buy-in to the value of personalized print on demand.

�Our intent is to grow this approach into a company-wide marketing anddocument strategy for those areas where it makes good business andfinancial sense,� Cromeans said. �We believe 100 percent in one-to-one communication with customers.�

For information on the advanced solutionsand services that Xerox can provide, call1-800-ASK-XEROX ext. XGS, or visitwww.xerox.com/globalservices