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Moira Lees, Group Secretary The Co-operative Group

Moira Lees, Group Secretary The Co-operative Group. Looking to the Future ……. External impacts. The economy / consumer spending Impact of regulatory changes Intensity of competition in our core businesses The need for increased efficiencies Assume constant change & innovation.

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Moira Lees, Group Secretary The Co-operative Group

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  1. Moira Lees, Group SecretaryThe Co-operative Group Looking to the Future ……

  2. External impacts The economy / consumer spending Impact of regulatory changes Intensity of competition in our core businesses The need for increased efficiencies Assume constant change & innovation

  3. Emphasis on our ‘co-operative difference’ VALUES • Our ‘double balance sheet’ / dual objectives

  4. Emphasis on our ‘co-operative difference’ Owned & democratically by our members

  5. Emphasis on our ‘co-operative difference’ Distributing our profits to members and other stakeholders

  6. Emphasis on our ‘co-operative difference’ Increase the focus on our ‘difference’ in our promotional activities, in trading outlets, by our employees etc, etc …….

  7. Emphasis on our ‘co-operative difference’ We have a social purpose for the right reasons – part of our reason for being – not just to demonstrate CSR / attract PR

  8. Ethical Operating Plan A ground-breaking three year plan, operating alongside our business plans (adapted for use by independent societies)

  9. Ethical Operating Plan 2012-14 (and beyond…)

  10. Focus on … Continuing to ‘raise the bar’, eg, increased online engagement re commercial offer, democratic engagement, social networking etc Attracting young members, particularly given regulatory change Employee engagement Our community proposition (including our work with schools) Our Membership Proposition + Our Customer Proposition + + Currently under review in TCG

  11. Reviewing TCG’s Membership Proposition Membership is fundamental to being a co-operative Co-operatives exists to meet the common needs and aspirations of their members Our start-point is that Membership remains fundamental to co-operative businesses It’s fundamental both to commercial success and our success as a co-operative It follows that our goal should be for members to not only be engaged with the values and principles that sit behind the business, but also commercially active in driving growth

  12. Our Customer Proposition - Trust is a key requirement “It’s only the best marketers, unfortunately, who truly realise that you have to be trustworthy … because being trusted makes you money.” For a vibrant, multi-faceted organisation delivering wide-ranging products and services, Trust is especially important It sets expectations as to why customers should do business with us and is a key benchmark for consistency, delivery and service recovery It is a vital component of any future-facing brand looking to succeed in a world where consumers are increasingly sceptical Customer research tells us that Trust is a key driver 12

  13. Trust – a combination of rational and emotional factors Rational is largely a function of “What we do” Customer out-take is “I trust them to…” We must deliver on functional expectations We must strive to be relevant to our customers’ lives Especially important for our more transactional businesses TCG’s customer segmentation work has been essential in spotting gaps and informing opportunities • Rational is largely a function of “Who we are” • Customer out-take is “I trust them because…” • We must flex our most trusted assets • We must ally our point-of-difference to our customers’ lives • Especially important for our more relationship businesses • Our unique Co-operative heritage, brand values and purpose are unrivalled signallers of credibility, integrity and emotional trust 13

  14. Rational Emotional Deep Trust + But Trust is complex and needs to be earned …. = Competitors struggle to convince Co-operative heritage and DNA convinces Competitors lead The Co-operative in process of developing We are advantaged as it is harder for competitors to get Emotional Trust • On my side • Delivers through brand values • Does what I want • Delivers on functional drivers

  15. The Co-operative Movement Work increasingly closely with other consumer co-operative societies and the wider Co-operative Movement - ‘Unity is strength’

  16. Moira Lees, Group SecretaryThe Co-operative Group Looking to the Future ……

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