Business to
Business
Management needed to understand foreign currency
conversion issues faced by CFOs of international companies with foreign-based
subsidiaries. Using an
interactive methodology, we were able to gauge interest in an online service
that would execute foreign currency transactions while prioritizing 26
potential features of the service.
In understanding the emergence of mutual fund
supermarkets as a distribution channel, in-depth interviews with fund managers
explored how mutual fund supermarkets might change the fund industry.
To help understand the potential for a regional bank to
offer corporate-owned life insurance products such as key-man, buy-sell and
supplemental executive retirement plans, a multi-phase research project was
conducted with decision makers including CFOs, HR Directors and Benefits
Administrators.
With an increasingly strong Web presence, our client
looked to begin introducing business customers to their site.
Development of an application targeted at CFOs and Operations Managers
was assessed and tested prior to launch.
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Consumer
In understanding customer service expectations,
Management needed to learn how the mix of traditional banking services fit
with financial advice from third party advisors.
Research examined key elements of good service, types of delivery
systems and perspectives on retirement and financial expertise required to
provide guidance.
Management wanted a complete evaluation of a customer contact and service model that
focused on the roles various professionals play within an integrated FSP.
The client learned how high net worth investors and banking customers
evaluate an advisor and what is required from a service perspective.
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Female Investors
In targeting retirement related concerns of single women,
this FSP wanted to understand what products and services would better match
the needs of this segment of the population.
The research was also used as input for an upcoming public relations
campaign.
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High Net Worth Investors
As part of the product development process, Management
needed to assess response to product offerings with a focus on what investors
consider when making investments. After
an analysis of current behaviors, a SWOT analysis of client offerings pointed
to potential areas for improvement and marketing opportunities.
In preparation for an
aggressive branding effort with online traders and investors, Management
needed to understand the habits, preferences and practices of this growing
population segment. The research
was also used to profile potential customers and identify marketing venues for
the message.
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Internal to FSP
To help Management learn how the structure and process of
their sales teams affects team members, research identified ways that the
leadership teams can help the sales force in coordinating sales efforts.
To gain perspectives from business-to-business and
consumer relationship managers regarding a new pricing model for a lending
program, research identified barriers to success and internal communication
requirements to overcome potential problems.
As part of annual Management meetings, NMM facilitated
advisory council and leadership teams in discussing the introduction of new
product concepts that affect both self-directed brokerage accounts and 401(k)
plans administration.
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New Customer Acquisition
Using a comprehensive process involving a variety of
quantitative and qualitative techniques, the new customer acquisition process
was evaluated for six premier brokerage firms, including our client.
Evaluating every phase of customer contact from the start, Management
was able to assess weaknesses in their process while benchmarking themselves
against their top competitors.
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Retirement
Planning including IRAs, 401(k) and 403(b) Plans
When an FSP became the 401(k) program administrator for
several organizations, Management wanted to better understand employee needs
and decision processes. Research
also gauged the level of employee investment experience and assessed the 401(k)
communications plan.
In targeting individuals who have left their jobs, an FSP
needed to learn more about the 401(k) rollover process from an employee
perspective. Research helped them
identify opportunities to capture more of the market, while minimizing
investor defections. The research
was also used to assess the effectiveness of advertising creative executions.
From a general assessment of the approach to retirement
for different market segments, Management developed a deeper understanding of
the decision process consumers go through.
Management used this insight in positioning their products and services
more effectively.
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Web site and Application
Development
With services targeted to high net worth investors, the
client needed to ensure that their Web site delivered the type of information
their customers expect. A series
of detailed usability tests provided feedback to developers and marketers
prior to launch.
In partnering with a training organization, an aggressive
training program incorporated into a Web application was targeted to older
consumers. Testing of the
application, its interface with the Web site and general usability were critical components
evaluated prior of the launch.
As an early adopter of interactive financial
applications, this client wanted to pretest any and all transaction-based Web
applications. From the early days
of online banking for consumers to business-to-business applications designed
to help CFOs manage parts of their relationship with the bank, testing is done
in the Beta phase using a variety of techniques to ensure a smooth transition
to the online environment for customers.
As FSPs explore additional ways to serve their customers
online, NMM Interactive conducted some of the first research on the concept of
aggregation. Pointing to areas of
concern for customers and potential partners, our client used this information
to evaluate their next step into the online environment.
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