Realizing Savings of 23% in Eight Months with Infiniti’s Competitive Landscape Analysis
Competitive landscape analysis for a Financial Services Provider About the Client The client is a renowned financial services provider, offering financial services including wealth management, asset allocation, and financial planning to private corporations and individuals. The company was founded in 1996 and is based in Birmingham, US. Business Challenge The financial services industry is poised [...]READ MORE >>
Competitive landscape analysis for a Financial Services Provider
About the Client
The client is a renowned financial services provider, offering financial services including wealth management, asset allocation, and financial planning to private corporations and individuals. The company was founded in 1996 and is based in Birmingham, US.
The financial services industry is poised to experience unprecedented changes as it moves towards digitization. The digitization of financial services facilitated by the widespread adoption of smart devices, cloud computing, and data accessibility and usability has steered the industry to the brink of disruption. As these challenges continue to escalate, financial services providers need to continually evaluate and improve their services to keep up with the fast pace of changes in the industry. Moreover, with the entry of new players in the industry, the domestic markets have become saturated. Financial services providers are, therefore, turning their attention to international markets to increase their market shares, revenues, and profits.
Business Case: With many financial service providers vying for a pole position in the US market, a major financial services provider approached Infiniti Research to uncover new market opportunities and analyze the competitive landscape in the international markets. The client wanted to evaluate the competitive landscape in Brazil, China, Russia, and South Africa, featuring leading player profiles and their main product offerings. Furthermore, our client sought to understand the market size and determine growth opportunities in each country.
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Top Challenges Faced by Financial Services Provider
Problem Statement 1
With a number of competing financial services providers offering the same products and services, the client was facing difficulties in understanding the competitive landscape. With the aid of Infiniti’s competitive landscape analysis, the client wanted to gain deep insights into their competitors’ product offerings to evaluate their position in the market.
Problem Statement 2
As the financial services provider was looking to expand across Brazil, China, Russia, and South Africa regions, they wanted to understand the lifestyle and demands of the people in those regions to serve them better. Infiniti’s competitive landscape analysis would also help them to better understand the product offerings and pricing points of key competitors.
Problem Statement 3
In this customer-oriented business world, the client realized the need to differentiate their business from other major players in the market. With the aid of competitive landscape analysis, the client wanted to keep tabs on the competition and enhance business outcomes.
Problem Statement 4
By leveraging Infiniti’s expertise in competitive landscape analysis, the client wanted to gather sufficient data about the international markets and required suggestions from the experts to mitigate the barriers to entry in foreign markets.
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Solutions Offered and Value Delivered
To help the client tackle the above-mentioned challenges, the experts at adopted a comprehensive 3 phase approach for competitive landscape analysis.
The initial phase of competitive landscape analysis revolved around gathering data on competitors’ service offerings and pricing strategies. Our experts also conducted an analysis of the leading international market players to get an initial sense of best-selling products as well as related drivers and market trends.
This phase of the competitive landscape analysis allowed us to create a long list of leading players and their service offerings. Once the list was defined, we continued with identifying the right business partners for the client and the best route to enter the target markets.
The competitor analysis framework developed by Infiniti helped the client to validate their initial perspective for international growth and helped them realize the real potential of select markets. The competitive landscape analysis further helped the client to prioritize the next steps in their international expansion, assign resources, and fine-tune their business strategy.
With Infiniti’s competitive landscape analysis, the client was able to better benchmark their market position relative to their competitors and develop strategies to maximize opportunities and mitigate threats. Infiniti’s competitive landscape analysis further helped the client to monitor the competitors’ USPs and adjust their strategy to attract new customers. In addition to improving the customer experience, the client was able to outperform our expectations with a 23% increase in revenue within eight months.
With Infiniti’s competitive landscape analysis, you can easily compare performance across all your important channels. Request a FREE proposal to leverage our competitive landscape analysis!
What is a competitive landscape analysis?
Whether you’re running a start-up or a global company, it’s imperative to beat your competitors to better position your business. In order to do so, you’ll need a strategic business plan and insights about your competitors and the industry. This is where a competitive landscape analysis comes into play. A competitive landscape analysis helps businesses to gain insights into the current industry landscape and forecast the future plans of the competitors.
How competitive landscape analysis can help?
Focus on competitors – With the help of competitive landscape analysis, businesses can examine the market structure, measure market share, explore how their competitors operate, and build new strategies to differentiate themselves from their peers.
Benchmark performance – A competitive landscape analysis enables businesses to compare against top companies in the industry to develop business plans to enhance their market position.
Assess the future relevance of competitors – With competitive landscape analysis, assess which players are best positioned to outperform the market and identify the reasons for their success.
Infiniti’s competitive landscape analysis can help your company with unique industry challenges, predict changes, and reach annual targets. CONTACT US to know more about our services.