Digital Media Report: Western Financial Group SWOT and Recommendations

This report examines the digital media landscape of the Western Financial Group, a diversified insurance services company. It begins with an introduction and a description of the organization, highlighting its focus on providing security to Canadian residents. The report identifies the marketing team as the target audience for digital communication improvements, outlining the benefits of aligning measurable objectives, segmenting the audience, building the brand, increasing engagement, and adapting automation. A SWOT analysis assesses the company's strengths, weaknesses, opportunities, and threats, followed by a competitive analysis identifying key rivals. The report then discusses the current digital communications practices, including tools like remote storage, email, and social media. It concludes with recommendations for improvement, such as implementing private messaging, video conferencing, and discussion forums while advising against social media interaction due to data security concerns. Finally, the report emphasizes that implementing these communication tools could enhance the methods of communication among the organization.

Running head: DIGITAL AND EMERGING MEDIA
DIGITAL AND EMERGING MEDIA
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Table of Contents
Introduction....................................................................................................................2
Discussion......................................................................................................................2
Description of organisation........................................................................................2
Target audience..........................................................................................................2
SWOT analysis...........................................................................................................3
Competitive analysis..................................................................................................5
Present digital communications.................................................................................5
Recommendations..........................................................................................................5
Conclusion......................................................................................................................6
References:.....................................................................................................................7

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Introduction
This report aims to provide the discussion of the digital media in the Western
Financial Group and then provide some recommendations for improving the digital
communication of the organisation. The description of the organisation is provided along
with the analysis of the target audience is provided in the report. SWOT analysis of the
organisation along with the competitive analysis is provided in the report. The discussion of
the present digital communications is provided in this report along with the recommendations
of improvement is detailed in this report. Lastly, this report concludes with an appropriate
conclusion for the report.
Discussion
Description of organisation
The organisation in consideration is the Western Financial Group who is the
diversified company of insurance services, which is majorly focused on the creation of the
security and it has provided almost one million residents of Canada with the right protection
for over 100 years (Fang & Foucart, 2014). The organisation has its headquarter in the High
River, Alberta, and this company offers the business and personal insurance via 179 locations
and its affiliates and variety of the connected channels with the engaged team of almost 1800
people. This company is the subsidiary of the Trimont Financial that is the wholly owned
subsidiary of The Wawanesa Mutual Insurance Company.
Target audience
The target audience of the digital media communication improvements project are the
marketing team of the company (Samovar et al. 2015). The company would benefit from the
implementation of the digital communications improvement as it would help in aligning the
measurable objectives with the communications, identify and then segment the audience,

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build the brand extensively, increase in the channels along with the increase in the
engagement and then adapt the automation. There would be simplification of several
processes of the company, the management of the data of the organisation would be
significantly simplified and it would help in the monitoring of the customers and the potential
customers of the organisation. The communications with the suppliers of the organisation
would be significantly improved and enhanced.
SWOT analysis
Strengths
 Immense level of customer satisfaction: This company with the dedicated department
of the customer relationship management has been able to gain the increased level of
the customer satisfaction between the present customers and the better brand equity
(Nyadzayo & Khajehzadeh, 2016).
 Dependable suppliers: The company has the strong base of the reliable suppliers of
the raw materials and therefore enabling this company in overcoming the bottlenecks
of the supply chain
 Strong dealer community: The company built the effective culture among the dealers
and the distributors in a manner where the dealer invest in the training of the sales
team and not solely promotes the products of the company (Hullova, Laczko &
Frishammar, 2019).
Weakness
 There are some significant gaps in the range of the products that are sold by this
company. Due to this lack, there is significant challenge of entry of new
competitor.

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 This company is not so successful in the integration of the firms with the
dissimilar work culture (Helmreich & Merritt, 2017). This company has not been
able to merge the firms with the distinct work culture.
 The financial planning is not executed efficiently and properly. The present asset
ratio and the ratio of the liquid asset suggests that the organisation could perform
more efficiently and effectively.
Opportunities:
 The stable free flow of the cash offers the opportunities of investing in the
adjacent segments of the product. With the increased cash in the bank, the
company could invest significantly in the new technologies and the new segments
of products.
 Introduction of the new markets due to the agreements of the government is
another opportunity of the company that means the adoption of the new
technology standard and the agreement of the government free trade is offered.
 The core competencies of the company could be the major success in the same
products fields.
Threats:
 The liability laws in the various countries are dissimilar and the company might
be exposed to the various liability claims provided changes in the policies in the
markets.
 This company could face the lawsuits in some of the markets where there are
significantly dissimilar due to the standards of the products in the markets

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 The stable profitability led to the increase in the number of the players in industry
over the last two years that has put the downwards pressure on the overall sales
and the profitability.
 The rising level of pay could pose significant threat for the organisation as it
would impact the profitability of the organisation immensely.
Competitive analysis
The competitors of the company are the major threat for the organisation as they
impact the profitability of the organisation significantly (Fleisher & Bensoussan, 2015). The
competitors of the Western Financial Group are the RBC insurance, FCA insurance brokers,
Manulife Financials, and the SunLife Financial.
Present digital communications
The communications among the business is essential for being immensely successful
in the market. Presently the business utilises the digital communications tools for conducting
their business in the market. Some of the digital communications tools are the remote storage,
business email account, the instant message service, interactive platform of work, accounts of
social media (Martíet al., 2018). These tools help the company to perform the business in the
efficient manner and effectively. The intranet is used by the organisation for communicating
among the employees of the organisation and it helps in transferring real time information.
Recommendations
The private messaging service could be implemented by the organisation and it would
help in providing the real updates to the employees of the organisation. This method is
particularly effective in providing the information to the busy employees and the managers.
The instant messaging creates the opportunity of delivering the updates on the projects and

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the common team discussion immensely easier. The video conferencing tools could be
implemented in the rooms and the conference rooms for allowing the availability of the
information from the other branches. There are significant advantages of the video tools as it
helps in providing the face to face conversation with the customers or the clients who might
require any kind of urgent update. The social media interaction must be eliminated as it has
the possibility of breach of the data of the organisation that could lead to the damage of the
reputation. The discussion forums could be implemented by the organisation for allowing the
exchange of the information. Using this particular platform, the employees could discuss the
topics of major interest as it could relate to the workplace. The major method of reducing the
meetings number and keep the communication open in the organisation is the use of the
discussion forums.
Conclusion
Therefore, it can be concluded that the implementation of the discussion of discussion
forums, private messaging and the video conferencing tools could help the company enhance
the methods of communication among the organisation. The target audience of the digital
media communication improvements project are the marketing team of the company. The
company would benefit from the implementation of the digital communications improvement
as it would help in aligning the measurable objectives with the communications, identify and
then segment the audience, build the brand extensively, increase in the channels along with
the increase in the engagement and then adapt the automation. The competitors of the
Western Financial Group are the RBC insurance, FCA insurance brokers, Manulife
Financials, and the SunLife Financial. The communications among the business is essential
for being immensely successful in the market. Presently the business utilises the digital
communications tools for conducting their business in the market.

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References:
Fang, E. S., & Foucart, R. (2014). Western financial agents and Islamic ethics. Journal of
Business Ethics, 123(3), 475-491.
Fleisher, C. S., & Bensoussan, B. E. (2015). Business and competitive analysis: effective
application of new and classic methods. FT Press.
Helmreich, R. L., & Merritt, A. C. (2017). Culture at work in aviation and medicine:
National, organizational and professional influences. Routledge.
Hullova, D., Laczko, P., & Frishammar, J. (2019). Independent distributors in servitization:
An assessment of key internal and ecosystem-related problems. Journal of Business
Research.
Martí, P., Velasco, M., Martín, E. X., de Vicuña, L. G., Miret, J., & Castilla, M. (2018).
Performance evaluation of secondary control policies with respect to digital
communications properties in inverter-based islanded microgrids. IEEE Transactions
on smart Grid, 9(3), 2192-2202.
Nyadzayo, M. W., & Khajehzadeh, S. (2016). The antecedents of customer loyalty: A
moderated mediation model of customer relationship management quality and brand
image. Journal of Retailing and Consumer Services, 30, 262-270.
Samovar, L. A., McDaniel, E. R., Porter, R. E., & Roy, C. S. (2015). Communication
between cultures. Nelson Education.