For over 40 years, Market Street Research has been helping banks, credit unions, and other financial institutions with a wide range of needs and objectives, including:
- Brand assessment and positioning
- Market evaluation and segmentation
- Customer engagement and loyalty
- Employee engagement
- Feasibility studies
We conduct customized marketing research versus using syndicated or “canned” approaches.
At Market Street Research, we use an iterative process that engages you and your stakeholders, and employs only the research methods that make sense for your business. Every step of the way, we’ll work closely with you to ensure that we understand your needs, your goals, and your desired results.
The Importance of Thoughts & Feelings
We find that, for clients in the financial sector, conducting a combination of both quantitative and qualitative research methods produces the most comprehensive results. These results focus on both statistical data, as well as consumers’ in-depth thoughts and feelings about your institution.
We use qualitative research methods to:
- Identify gaps in brand image
- Identify barriers to building a strong brand
- Test new products
- Provide insight about target customer populations
We use quantitative research methods to apply statistical methods to find patterns and significant trends in the data gathered. These include:
- MaxDiff analysis: a technique that helps measures the importance of specific features of a bank such as the convenience of branches, low or no fees, availability of ATMs, etc.
- Market segmentation: a technique that clusters groups of people together to identify the segments with the greatest growth potential
- Multi-dimensional attribute mapping: a perceptual map to illustrate how customers perceive client performance on key criteria compared to competitors.
Through a combination of both qualitative and quantitative research, Market Street Research helps you:
- Identify your organization’s key decisions and information needs
- Define marketing research objectives based on those needs
- Design a research methodology–or combination of methodologies–that makes sense given your institution’s size, assets, customer characteristics, brand recognition, competitors, and geographic markets served
- Collect the data needed to answer your questions
- Analyze the results and present findings and recommendations that can be put to use immediately in terms of marketing, staff training, public relations, and customer communications efforts
Realize the value of customized research
Many of our clients have worked with us for decades because we understand the financial sector and customize our research approach to address their individual needs. Partner with us, and we’ll work to ensure that the entire research process leads to compelling insight, actionable steps, and real value for your business.
