Case Study

Customer Acquisition

Product Innovation

Advocacy Marketing

Situation:

A large Regional Financial Institution had launched a new product, adoption of which did not meet Institution’s expectations. They wanted to identify prospective consumer segments with whom this new product will resonate and identify tweaks, if any, necessary to increase adoption.

Our Solution:

Stadia designed a segmentation research to understand consumer preferences for different account configurations evaluated using a Choice Modeling exercise, as well as their financial behavior and psychographics.

Using this information, we developed a segmentation schema that identified multiple consumer segments based on the trade offs they make in the choice of different accounts.

We deep dived into each of these segments to understand their disposition towards the new product from the Institution, and the reasons for the same.

Results:

Using the above analysis, we identified priority segments for the Institution to target and provided insights to
(a) make the required tweaks to stay relevant to each segment, and
(b) develop messaging about the product that will "connect" with each segment.