Infiniti’s Market Segmentation Solution Helps a Renowned Corporate Banking Client Deliver Targeted Marketing Campaigns
Amid increasing competition, declining revenues, and surging regulatory costs, the corporate banking market is planning to streamline operations to improve their overall service efficiency. Moreover, prominent corporate banking companies are redefining their business models to increase the movement of data to extract savings, improve pricing, and manage potential risks. With the relentless growth of innovations, […]
Amid increasing competition, declining revenues, and surging regulatory costs, the corporate banking market is planning to streamline operations to improve their overall service efficiency. Moreover, prominent corporate banking companies are redefining their business models to increase the movement of data to extract savings, improve pricing, and manage potential risks. With the relentless growth of innovations, prominent corporate banking companies should embrace digitization to stay relevant and open new avenues for sustainability and maintain consistency in their service offerings. Although the corporate banking industry is witnessing considerable growth with the presence of numerous competitors, several factors that may influence the growth of the industry include:
- Rising regulatory concerns: Today, the corporate banking space is subjected to stringent regulations and bankers are also facing the impact of rising regulatory requirements on innovation and diversity. To cope up with the challenges, prominent corporate banking companies are investing a sizable amount of time, effort, and money to meet the compliance standards and improve their overall business performance. Moreover, prominent corporate banking companies are facing the need to manage their operations, lending policies, and taxation to scale their operations.
- Technological risk: Out of all the concerns, corporate banking companies are facing a significant need to cope with outdated core IT systems. In this technologically advanced environment, banks need to invest appropriately in secure and agile systems to enhance their digital and mobile banking capabilities. Moreover, banks should also ensure that they offer seamless and affordable experiences to the customers while compounding the risk for cyber attacks.
To counter such challenges and segment the market based on the users’ preferences, organizations are facing the need for a market segmentation solution. In the corporate banking industry, a market segmentation solution helps companies divide the potential customers into specific segments and offer more personalized services to the customers.
The Business Challenge
The client, a renowned corporate banking service provider, wanted to understand and identify the latest banking industry trends and create a customer marketing mix to cater to the growing demands of the target audience. With the help of market segmentation, the corporate banking client wanted to determine the ideal way to deliver the services to the customers and focus their limited resources on improving the ROI. The corporate banking firm wanted to differentiate their products and advertising campaigns to appeal to the most profitable customer segments.
Want more information about our market segmentation solutions for the corporate banking client?
The market segmentation experts at Infiniti carried out extensive research comprising interviews and discussions with key stakeholders in the banking industry. The experts also compiled information across reliable sources such as paid industry databases, trade shows, and company presentations to gain granular insights into the current trends in the market.
The Solution Benefits and the Business Impact
The market segmentation solution offered by Infiniti assisted the corporate banking firm to understand the current banking industry trends and segment their customers based on the needs, priorities, and common interests. The engagement helped the client adequately allocate their resources to personalize their marketing campaigns. Moreover, the corporate banking firm was able to target each potential customer individually and in a cost-effective manner. The segmentation further helped the client better satisfy the needs of the customers and improve their overall return on investment.
The ongoing industry regulations will encourage banks to increase their innovation capabilities and improve their online market presence. Leading banks will leverage the use of data analytics and automation, and application programming interfaces to streamline operations and generate greater revenue.