Case Studies

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Retail Banking Category, Loyalty-driven Marketing Message

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Situation

A prestigious global bank recognized the need to elevate its market position and enhance its profile while simultaneously increasing its share in the lucrative affluent segment. The bank's strategic objective was to transition both current and prospective affluent customers from traditional deposit accounts to more sophisticated investment and insurance products. This shift aimed to not only improve profitability but also to better serve the evolving financial needs of this high-value customer segment in an increasingly competitive global banking landscape.

Our Approach

MCAworks implemented a comprehensive research strategy, conducting in-depth qualitative and quantitative studies across 12 countries on four continents, focusing on the affluent segment. This extensive research uncovered fundamental needs, concerns, and issues related to financial services, with particular emphasis on investment and insurance products. Leveraging advanced techniques such as conjoint analysis, MCAworks developed an actionable customer segmentation scheme and targeting protocol, refined down to the branch level. The analysis culminated in the creation of a standardized global best-practice product bundle, complemented by country-specific strategies to ensure local market relevance while maintaining global brand consistency.

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Results

The strategy significantly increased the bank's market share and customer loyalty among affluent clients across all target regions, while also improving deposit-gathering performance. Based on this success, the program was subsequently implemented in numerous additional countries, demonstrating its effectiveness and scalability across diverse markets.