"No one expects your to be a mind-reader," said Tim Klatt, Director of Retail Strategies for La Macchia Group. "Whether you're considering a building, branding, or technology integrating project for your bank, a critical first step is to conduct demographic and consumer research to discover what, if any, points of friction currently exist within a user's financial experience and how your project can address those issues. Your next steps shouldn't be a guessing game; they should be rooted in data and actionable insights and should clearly demonstrate a return on investment."
Are you curious if your branch strategy, technology integration and / or mobile banking options are helping you attract and retain customers? Do the research, and most importantly, ask real people. Far too often, actual, direct customer perceptions are left out of market analyses and brand assessments. Don’t make that mistake; bring your customers to the table.
GO STRAIGHT TO THE SOURCE
Consumers are changing how they think about financial institutions. In response, banks and credit unions must also shift how they think about consumers. Start a dialogue with your customers through a comprehensive market analysis and invite them to establish a relationship with you and your brand. Odds are the result will be loyalty and long-term investment.
To learn more about what a comprehensive market analysis could do for you, connect with one of our analysts today.