Financial Services
The ability to attract new clients or customers to the services of your financial institution is a daunting task. In most markets the new customers come at the expense of another provider. New markets for unbanked customers are rare and there is a need to understand what brings customers to one financial institution over another. There are many examples of banks, insurance, and brokerage houses that have grown dramatically by tailoring their services to the needs of geographic or ethnic groups. The key is to understand the market and respond to the needs with exceptional service.
Pioneer Marketing Research clients have achieved success by changing banking hours, providing new services, and attracting new clients through financial education advertising and promotions. Ethnic-friendly employees who understand the specific needs of customers of diverse ages, races, and cultures can have a significant impact on the willingness of people to bank, pay bills, invest, use credit or debit cards, borrow money, take reasonable financial risk, and take advantage of the financial services.
Market Studies
New product introductions or new service features have a limited window of opportunity before competitive products appear. The ability to gauge the market and grab market share is often the single most important activity to ensure a successful launch.
With conjoint analysis we help clients determine which services are likely to have the greatest attraction with selected customer subsets or the population in general. In ethnographic groups, we help determine which items are likely to have the greatest following, and at what price they can be offered and not cannibalize the sales of primary items or basic services.
Customer Satisfaction
Key measures of customer satisfaction are the customers’ willingness to continue their current banking or financial relationships and recommend the service to others. In customer studies, we strive to measure ways to improve the customer experience. At every point of customer contact we have attributes of satisfaction to measure and compare, including knowledge of the staff, service reliability, quality and empathy of support staff, accommodating special requests, and perceived value.
Using telephone interviews, focus groups and CTI methods, we collect the information and analyze the findings to suggest ways to improve the likelihood
that customers adopt new products or services, and maintain their vendor relationships.
Click here for a Partial list of our clients
