Success Story
REGIONAL BANK SEEKS TO INCREASE SMALL BUSINESS CUSTOMER BASE AND EXPAND FOOTPRINT USING A NEW VALUE PROPOSITION
Problem:
This client wanted to expand their value propositions, without knowing exactly what the new value proposition should be. They were also unsure what type of customers (e.g., industry, size of company, etc.) would be most attracted to the bank's new value proposition and where the largest concentration of targeted prospects were located in the expanded footprint.
Solution:
Barlow Research's Strategy Mapping Tool was used to fine-tune a value proposition and pinpoint profitable sub-segments of the small business market to target as prospects. A map was then produced to show where the largest portions of the target market were located in the proposed footprint. A two-day, in-person Optimization Meeting solidified a go-to-market strategy for how to implement the new value proposition.
Results:
Results from the Strategy Map and Optimization Meeting informed a go-to-market strategy that included the introduction of several new branches and the re-structuring of other parts of the bank to streamline small business prospecting.
"The Barlow Research analysis and optimization meeting gave us a great foundation to kickoff our new strategy in the small business space.This project helped mobilize our team, giving us direction into what markets are important and how we need formulate a go-to-market strategy."