BlueShore Financial’s success journey hasn’t been without a few hurdles along the road.

It took them a long and complex process of market research and data gathering to find the
perfect business model for their brand makeover. Using the SCAMPER Technique, I will discuss
how BlueShore strategically embarked on a ten-year journey that successfully jump-started a
failing financial boutique.

The C in SCAMPER stands for combine. BlueShore Financial was able to differentiate
itself from the rest of its competitors by combining the idea of offering financial planning services
together with spa and wellness services. Upon reading the case study, I found this strategy to
be a bit ambitious and a huge gamble. Financial boutiques are businesses that are highly
professional in nature, and adding a spa services feature without affecting the professional
environment, is truly a remarkable idea. It is a unique experience not found in typical financial
boutiques, and I think that what gave them a competitive edge over the others. This innovative
approach was made possible through their collaborative work with Weber Marketing Group and
partnership with EHS Designer. The Financial Spa designs are tailored according to the location
of the boutiques in order to celebrate the uniqueness of each local community. They have also
worked with various local artists through this rebranding project.

Through adapting a new brand model, they modified their brand image as well. To start,
they changed their brand name, although it cost them to lose the reputation of their 70-year-old-
name. However, modifying it was worth the risk. Changing “North Shore Credit Union” to
“BlueShore Financial” eliminated the barrier that limits them from attracting new potential clients
outside of the North Shore area. It also eliminates the hindrance that prevents them from
achieving a plan for long-term growth. Moreover, a modification of their brand book was done to
align it with their new brand image, brand promise, and brand language. BlueShore Financial
also hired and trained a team of accredited financial advisors and experts to elevate their brand
experience into a new level.

To conclude, BlueShore Financial’s brand makeover journey is like a cook trying for a
new recipe. Through the years, BlueShore Financial’s CEO Catliff collaborated with a lot of
experts in the field and did a lot of market research just to make his business flourish again. Just
like a cook trying a lot of ingredients just to find the perfect one that will suit his taste. He needs
to know what is lacking from the dish and find that ingredient to bring the flavor he’s looking for.
CEO Catliff worked incredibly hard to find the business model that is perfectly fit to the vision he
wants. Also, just like a cook adding a sprinkle of salt, a dazzle of extra pepper or a drizzle of
extra lime juice, CEO Catliff was able to balance the flavors and came up with a unique,
innovative, and un-bank-like experience for his business. It was their competitive advantage that
helped the company grow and survive.