Well Known Regional Bank: Penetrating the Small Business Market
Challenge: In an effort to more deeply penetrate the small business market, a major regional bank had identified key retail and small business segments of interest.
Objective: To develop in-depth profiles of key small business targets, and assess value propositions and proof points to successfully target each segment in communications.
Solution: A series of qualitative small group discussions were conducted with all segments to explore attitudes toward banking and the bank’s brand, uncover unmet needs of business, including products and services, and to understand the relevance and appeal of alternative messaging directions among their intended audiences.
Result: Plan-it identified audiences of greatest opportunity for the client as well as specific features, services and relationship factors that would drive small business to the client for their business banking. Value propositions and proof points were also refined and taken into quantitative testing, to validate optimal messaging directions for final development and launch.