It’s a given that markets change quickly and without notice. Research becomes a "dashboard" that keeps you posted about what the market is doing—and how you are matching up to the market.
The road to perdition is littered with assumptions.
If you know what's going on, you know what it takes to leverage your strengths against the market's needs. The temptation is to "do what you used to do" and "thinking that you already know all you need to know." Now, in the 21st century, "assuming" is way too expensive—not to mention very risky.
Here are some recent case histories that illustrate the tangible value of research:
Customer and Non-customer Awareness and Attitude Research
Learn how your customers and non-customers rate you versus the competition in key areas. [see example study]
Geographic Market Analysis
Discrete market demographics, lifestyles, bank product usage potential and geographic location. [see example study]
Employee Awareness and Attitude Research
Find out whether or not your employees are on-board. [see example study]
Customer Segmentation Research
Segment customers into lifestyle groups and compare them to national banking peer groups. Match up your key segments to your products. Identify specific opportunities (and risks.) [see example study]
Geographic Segmentation (Geo-coding)
Where are your customers geographically? How are they grouped to your offices? [see example study]
Market Share Among Key Personal and Commercial Loan and Deposit Segments
Get the answers to important questions. How well are you penetrating key loan and deposit markets? How much effect does current product pricing and product attributes have? What changes in products should you make? [see example study]
Media Efficiency Studies (Matching Customer Geographies)
Learn how to make your marketing dollars work harder. What is the most cost-effective way to reach your customers? How much is each media campaign actually worth? What kind of ROI can you expect? [see example study]
Customer Satisfaction Survey (CSS)
CSS can tell you what’s happening in your offices. Once banks grow to having more than three or four offices, it is very difficult to have a good grasp of the customer—to really know how they are being treated and their attitude about the bank—unless there is a well-designed and functioning CSS operation. An added benefit: measure the effectiveness of your training and skill development program(s.) Learn how customers (and prospects) rate you in real-world comparison to your competition. [see example study]