CASE STUDY

LOCATING GROWTH OPPORTUNITIES IN NEW MARKETS

CASE STUDY

LOCATING GROWTH OPPORTUNITIES IN NEW MARKETS

Identifying what drives potential customers to choose a competitor’s brand is as important as confirming what draws new ones to your own. A deeper understanding of those dynamics is essential to help refine customer acquisition strategies.

One of our clients, a leading U.S. financial institution, needed to pinpoint key factors impacting brand selection. We partnered with them to design and conduct a nationwide win loss research study which would reveal opportunities to sharpen their competitive edge.

THE CHALLENGE

Understand consumer perceptions, considerations, and behaviors influencing the selection of a financial institution including:

Underlying motivations for opening a new financial services account

Key reasons for selecting one institution over another

Perceived competitive advantages between brands

THE RESEARCH

A nationwide online survey conducted on an ongoing basis:

Comparing behaviors and types of consumers who had recently opened or closed an account

Covering a wide range of relevant financial products and services

Capturing representative data on both wins and losses among the core competitive set

THE RESULTS

Findings are being used to develop and refine customer acquisition strategies to:

Strengthen brand perceptions and drive interest in a broad range of products

Define the path consumers take when selecting a financial services partner

Increase market share in key regions

Refine product offerings to meet consumer demands

Sustainable growth opportunities can come from any point across the customer journey – improving products or services, refining messaging to increase relevance, or expanding into untapped markets.