BUTTERFLY EFFECT INTELLIGENCE™ HAS EXTENSIVE EXPERIENCE IN UNDERSTANDING THE RETAIL MARKET ACROSS VARIOUS CLIENT SEGMENTS, INCLUDING LOW INCOME, MIDDLE MARKET AND MASS AFFLUENT.
Important factors to consider when building a value proposition for the Retail segment include:
What are the key market drivers influencing retail clients globally and locally? E.g. How are clients affected by changing regulations, political uncertainty, technological innovations and leading rewards programmes?
What are the needs and aspirations of retail clients in different income bands, at varying life stages? E.g. How will the needs of a middle income, married professional with young children be different to the financial needs of an affluent, retired individual?
How are your competitors responding to the needs and aspirations of different retail clients in different income bands, at varying life stages? E.g. Is communication targeted and customized to clients based on what is known about them through Big Data?
It is essential to have an accurate picture of the complex and intricate market dynamics and competitor landscape of the market, enabling you to design your own compelling value proposition based on what makes your company unique and special.
It is valuable to assess your competitors against the following attributes:
Strategy encompasses past and future aspirations and key focus sectors which defines a company’s core competitive advantage.
Unpack how competitors define key segments of retail 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 competitors engage with retail clients to build strong, enduring relationships, and 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.