Reshaping Results is a service that combines the experience of the EY-Parthenon turnover and restructuring practice with sector expertise and specialists from across the professional services firm. The name started life as an umbrella term for a loose package of services, which were particularly in demand during the pandemic and its aftermath.
Agency Wardour was appointed to define exactly what Reshaping Results was and stood for, but also to drive awareness of its offering with a campaign that positioned EY-Parthenon as the go-to partner for companies in need of restructuring and generated leads. It was also tasked to raise internal awareness of the offering, prompting EY partners to discuss the service with their clients.
After carrying out interviews with many EY-Parthenon partners, to determine what they saw as the service’s unique selling points, Wardour created a value proposition to be shared internally, alongside a short, animated explainer video. One-page propositions were created for each of the 11 packaged solutions offered by Reshaping Results.
Attention then moved externally. By creating case studies, telling the stories of those businesses that Reshaping Results had successfully turned around, Wardour could help the team start a conversation with potential new clients.
But while the idea was sound, convincing businesses that had got into difficulties to share these experiences proved trickier. Each case study had to have a positive outcome, but the client had to be willing to highlight the challenges they had faced, explain why they got into trouble and elaborate on EY-Parthenon’s role in getting them out.
The campaign kicked off with British Steel. The 150-year-old company, whose Scunthorpe plant supported 23,000 jobs, either directly or indirectly, was hit by cheaper overseas supplies. By 2019, its cashflow position was no longer viable and it needed a buyer and fresh business model.
Using footage shot at Scunthorpe, Wardour created a dramatic video which told the story of how EY-Parthenon restructured the business and found a buyer. It included interviews with members of the team, who discussed the issues at stake and unique challenges – any delay to finding a buyer would have led to the unprecedented closure of the plant, with associated extensive health and safety risks.
When a Chinese steel manufacturer emerged as a potential buyer, EY’s extensive internal expertise meant that the team could handle the M&A, the tax issues and also bring skilled, native Chinese speaking EY professionals on board, who proved instrumental in closing the deal. The British Steel case study was used as the flagship for a broader campaign in The Economist and Financial Times. Most visitors spend five minutes viewing the story.
Other videos featured Nick Beighton, chief executive of online retailer ASOS, who discussed how the team had helped to identify new opportunities that unlocked value, boosted resilience and set it up for a stronger future. The video has been viewed more than 1,500 times, while it achieved 116,000 impressions through EY UK’s channels.
Sonia Davies, chief executive of Scott Dunn, explained how the luxury tour operator had coped with the challenges of Covid with help from the team. It generated almost 11,500 impressions and 740 video views.
The judges felt that the entry demonstrated ‘a great example of understanding your audience or customer first, and then building a campaign that speaks to and engages them’, adding: ‘Cracking return on investment.’
