Solutions: Financial Services

Consumers like to talk with experts and peers to plan their finances, pick the right credit card and open accounts in the bank that fit their needs. This makes online communities a very active destination to learn and engage. We help financial companies understand their consumers, key purchase drivers, and the impact of their campaigns on the target consumers.

Financial companies also want to understand their business customers. Traditional research can provide qualitative understanding of these customers, but it is biased, slow and costly. Syncing quantitative data with qualitative findings is a big challenge. MavenMagnet addresses these issues by providing a solution to understand your customer’s perspective in depth with statistical precision and in less time. We have done studies to analyze customers at SMEs to large scale enterprises using projectable sample sizes.

Discover and develop consumer personas for a financial product

A major retail bank wanted to get an understanding of consumers for one of their credit cards designed for the affluent market. The intent was to define personas for the affluent consumers, not the general credit card shopper. We defined two key personas for the credit card and defined a messaging and outreach strategy for each persona. Along with a day-in-life analysis of the target consumer segment, we provided a quantified list of entertainment preferences such as TV shows, activities, interests, as well as shopping patterns for each persona. The findings were used by the bank to develop their consumer outreach program and messaging.

Track brand health of a financial product for mid-size businesses

A large financial services firm needed to track the brand perception of their payment processing platform, as compared to the competition. The intent was to develop a differentiated positioning and keep track of their perceived strengths and weaknesses in a crowded market place consisting of some traditional, established players and a few new entrants were trying to disrupt the industry. We did a comprehensive analysis of the category to understand the consideration factors used by mid-sized businesses when choosing a platform. We further analyzed the competitive platforms in the market to identify gap areas for effective positioning. We helped the client leverage their core brand strength and map it to a gap area. This lead to a differentiated positioning which was used to develop PR and advertising for the platform. We kept track of the brand health of the different players in the industry and helped our client optimize their messaging over time.