CASE STUDY

LOCATING GROWTH OPPORTUNITIES IN NEW MARKETS

CASE STUDY

LOCATING GROWTH OPPORTUNITIES IN NEW MARKETS

Companies must continually listen to the marketplace to identify and pursue the path to opportunity.

A national bank needed to develop growth strategies for increasing market share and competitive advantage in key markets. They partnered with us to conduct CX research to learn more about their customer win rate.

THE CHALLENGE

Learn how customers and prospects interact with banks, with the goal of discovering:

Customer perceptions and behaviors

Considerations for choosing or leaving a bank

Perceived competitive advantages between banking brands

THE RESEARCH

Survey conducted among those who had recently opened and/or closed accounts.

The goal was to understand customers’ motivations for switching banks, the bank selection process, channel preference, and to compare perceived advantages and disadvantages between brands in key markets.

THE RESULTS

A snapshot of market activity and the path consumers take when selecting a financial services partner.

Client gained a deeper understanding of which product and service offerings are most important to consumers.

New intelligence about competitors to help develop services and communication strategies designed to improve customer win rate and strengthen their position in the region.

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.