Chicago Board Options Exchange
The important question:
The pioneer and leading options exchange posed the challenge of how to successfully rebrand the exchange and market options – a complex (though somewhat commoditized) financial product – to multiple target audiences in order to increase market share (and grow the category overall).
The important insights:
The CBOE brand receives high marks for two of its flagship proprietary products, SPX (an index option tied to the S&P 500) and VIX (an index product on CBOE’s Volatility Index). What traders/investors seek most are innovative, proprietary products that give them an advantage. CBOE’s products uniquely fit the bill.
The important solution:
“Execute Success” – a brand promise and campaign that highlight the critical points in time when investors can turn to CBOE products to capitalize on opportunity or minimize risk. By showing CBOE’s options and volatility products as crucially “of the moment,” we positioned CBOE and its products as the ultimate enablers of success.
Most importantly, the results:
Massive internal activation. Campaign performance metrics have far exceeded back and front-end projections. Record trading volume of CBOE’s VIX options and futures. CEO Bill Brodsky said at CBOE’s shareholder’s meeting: “Helping customers to ‘Execute Success’ is more than a tagline. It is a company-wide vision and mission that translates to customer and stockholder value.
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