HomeAdvantage: Product Growth Strategy
Augie Fabela, Christina Buchanan, Paco Litonjua, Miguel Vera
The Client: Figure Technologies
Figure Technologies, Inc. is a financial technology company headquartered in San Francisco, currently operating in two main areas:
- Financial services and securitization
- Utilization of blockchain and artificial intelligence to provide accessible financial products
The Problem to Solve
HomeAdvantage is Figure Technologies, Inc.'s reverse mortgage alternative product. The team will examine the client's revolutionary new HomeAdvantage product and analyze its growth rate and potential. Specific areas of interest are: increased public knowledge about the product, marketing and branding, customer engagement, and pricing.
Engineering a Solution
Tools and Methodologies
- Customer demographics: Assessed Figure's target demographic and possible go-to-market strategies.
- Market assessment: Used net capitalization rate and regression analysis to discern lucrative home markets to enter and what markets to avoid.
- Developed a branding strategy by analyzing data on consumers, particularly how to fight the negative stigma of reverse mortgages.
Recommendations and Deliverables
- Market potential: Target specific areas of potential.
- Customer insight: Market entry strategy to include under-62-year-old market.
- Market growth strategy: Market the product through television, pamphlets, and word of mouth.