BUTTERFLY EFFECT INTELLIGENCE HAS EXTENSIVE EXPERIENCE IN BUSINESS BANKING AND BUSINESS INSURANCE SOLUTIONS (GENERAL BUSINESS INSURANCE AND EMPLOYEE BENEFITS) WITHIN THE SMALL, MEDIUM AND LARGE BUSINESS MARKETS.
It is important to understand the following in order build a compelling value proposition which will entice the business segment:
A clear understanding of core industries in which the company wants to play. E.g. Real Estate & Rentals, Marine Cargo, Hair & Beauty, Pubs & Restaurants etc.
Understand the needs and aspirations of Business clients that operate in different industries. For example, a Marine Cargo company will have distinctly different banking and insurance needs to that of a Hair & Beauty business. It is important to unpack the industry nuances, challenges and opportunities that keep your clients up at night.
Understand the changing needs and aspirations of business clients as they move through various growth stages, i.e. start-up, expansion, stable growth, maturity and exit. For example, a start-up may require networking opportunities, whilst a mature business may need a Merger & Acquisition (M&A) consultation.
Unpack how your competitors are responding to the needs and aspirations of business clients in core industries. For example, how are commercial insurers responding to green issues in the Real Estate industry or how are banks innovating to help consumer goods manufacturers conduct business seamlessly across multiple countries?
It is essential to have an accurate picture of the complex and intricate market dynamics and competitor landscape of the business segment, enabling you to design your own compelling value proposition based on what makes your company unique and special.
It is important to assess your competitors against the following attributes:
Strategy encompasses the competitors past and future aspirations and key focus sectors which defines its core competitive advantage.
Unpack how competitors define key segments of Business clients and the value proposition offered to each segment.
Understand the company’s heritage and the intrinsic brand proposition which forms the platform for all marketing and communication to the end client.
Understand how your competitor engages with Business clients to build strong enduring relationships, and most importantly, trust.
How can BEI help you?
Deep Dive Understanding
BEI has over a decade of experience in the financial services environment, providing us with a clear picture of key developments and dynamics shaping the competitor landscape locally and globally and across the various sub-segments within financial services. Our benchmarking tools enable companies to compare their value proposition against their competitors, indicating areas of potential improvement.
Marketing engagement best practice
A decade of tracking marketing initiatives in the financial sector and correlating these initiatives with published results has enabled BEI to develop a model that assesses the strengths and weaknesses of a financial services company’s marketing strategy or individual campaigns. This model has been designed to provide companies with clear recommendations on how to advance their marketing approach and yield tangible results.
BEI track key strategic topics on your behalf, keeping your finger on the pulse of what is happening in the financial services industry, unpacking the strategic rationale behind developments. This frees you up to unpack the strategic implications for your company and take decisive action when required.
Insight best practice
Based on our experience and feedback from working with financial services companies, BEI has developed a model which helps clients build an effective insight function, ensuring relevant insight is available to key decision makers at the right time and to a level which can be actioned and implemented to enhance business performance.