Brand loyalty, customer satisfaction, and customer retention are three key determinants to success in the finance and banking industry. Nowadays, consumers have more choices than ever when it comes to selecting a preferred financial institution, all of whom are competing for their attention. Companies that have mastered the aforementioned variables are the ones excelling. These factors ultimately result in customer lifetime value, a competitive advantage not shared by all.
We have extensive experience conducting loyalty, satisfaction, and retention studies in order to determine the strength of a customer’s bond/link to a particular brand and/or service. With this knowledge, companies can effectively and efficiently tailor their practices to meet consumer needs.
Capturing consumers’ attention is vital, and even more so is keeping it. How many commercials, billboards, television ads, etc. are consumers able to recall? This is where market research can test the effectiveness of the marketing strategy being implemented. The profitability and success of these institutions rest heavily on the efforts put forth to attract and retain consumers.
Services and Offerings
We provide clients with optimizing services and offerings that ultimately enhance their companies’ ability to compete in the market place and overall satisfaction levels. By executing behavior and usage studies, understanding the products and services available, evaluating the willingness to pay for said products and services, and determining the ones consumers find attractive, we are able to assist in identifying areas of growth and improvement.
Major Clients/Projects in this Industry
Northwestern Mutual, Fannie Mae, Equifax, Whitney/Hancock, Hibernia Bank (now Capital One), and Bank of America.
Types of Studies Typically Conducted
Services/Offerings Optimization, Market Feasibility, Target Market and Market Size, Awareness/Image/Usage, Advertising Effectiveness, Advertising/Messaging, Brand Perception/Loyalty, Customer Defection, Business-to-Business Research, Consumer Research, Tablet Intercepts, Customer Satisfaction, Employee Research, Focus Groups, and In-depth Interviews