Corporate Insight helps clients understand specific markets and customer segments to help guide their market entry strategy and product development efforts. Recent projects have focused on Hispanic consumer banking, financial products for people with disabilities, retail active traders, and Millennials, among others.
A leading retail brokerage firm wanted to increase its small share of the highly active trader market. This entailed reshaping its value proposition to more effectively compete for traders who were not already customers. The firm engaged CI to gain a clear understanding of the active trader marketplace, including the strengths and weaknesses of individual competitors, the mindset of today’s trader, and the outlook for active trader services given recent customer and industry trends.
Guidance vs Advice Mystery Shop
A top financial institution was interested in better delineating its product and service offerings for its different customer segments. To that end, the firm wanted to gain a holistic understanding of its competitors’ service offerings for self-directed investors. The firm contracted Corporate Insight to perform a series of mystery shops to identify the level of investment advice and guidance that competitors’ investment consultants offered self-directed prospects and clients, as well as the types of investment products available to these kinds of investors.
One of Canada’s top banks was planning a thought leadership day for key stakeholders and executives from its deposit and investment channels. The goal was to conduct an engaging event to help the team understand trends that could disrupt their business in the next two to five years. The firm was interested in looking beyond the Canadian market to understand trends in the U.S., as these tend to foreshadow events in the Canadian market. The firm was specifically interested in how technology and changing customer demographics/ preferences were forcing established financial institutions to rethink some longstanding business practices.
A leading full-service brokerage firm engaged Corporate Insight to help the firm plan for and execute its first mobile client offering. The firm’s initial goal was to ensure that its clients could access fundamental information and activities through a mobile-friendly version of its website. With that in mind, they wanted guidance on which pages of the current website they should develop for the mobile-friendly version, along with input on the design of these key pages. Additionally, the firm wanted assistance formulating a long-term strategy for the mobile channel, which is emerging as a key competitive battleground for the industry.
A leading financial services firm was evaluating the possibility of developing a Bitcoin wallet, a service that none of its competitors provide. The firm engaged Corporate Insight to assess several leading Bitcoin wallets in terms of their capabilities and experience to help inform the firm’s wallet design and go-to-market strategy.
A major national bank’s senior marketing team was considering whether to revise its strategy for selling to and serving Hispanics in the U.S. To support that initiative, the firm wanted to learn how its competitors approach this demographic and benchmark its existing services and marketing efforts versus other banks. The firm enlisted Corporate Insight to explore the different phases of the Hispanic prospect and customer experience, from advertising to public sites to private site and mobile capabilities. Our objective was to reveal any competitive gaps in the bank’s existing Hispanic consumer banking strategy and identify “white space” opportunities that could help the firm become a market leader.