De novo branching is becoming more and more difficult - particularly in high density markets where more-aggressive, highly-capitalized institutions are competing for the same prime locations.
IMPROVE MARKET SHARE
In response, FinPro developed a means for providing a course of action for proactively improving market share within existing markets and wallet share among current customers. By focusing efforts on strengthening existing facilities and customer relationships, institutions can achieve an effective means of growth without the need for large capital investments.
FinPro's Branch Improvement Study examines all aspects of an institution's existing branch network in order to identify growth opportunities and strategies to increase market share and wallet share.
FinPro's Branch Improvement Study includes:
- Custom identification of each market to be analyzed.
- Development of a detailed profile of each market.
- Determination of existing market share by product and customer.
- Tour of the market and all competitors to summarize facility attributes, delivery alternatives and product offerings.
- Branch profitability analysis using detailed cost center data from the general ledger.
- Identifying, locating and targeting specific customer segments to proactively focus on both cross sell and new customer opportunities.
- Development of detailed product and service bundles designed to meet the needs of the specifically targeted customers in each market.
- A recommended course of action for each market that details facility, staffing, product, customer and marketing findings.
As a result of recommendations made by FinPro, institutions have improved market share and wallet share through the effective implementation of direct mail campaigns and improved product placement strategies.