Insight Services

Well-crafted strategic plans are built from insightful analysis. It’s the cornerstone of every successful plan and it’s the basis of every Galapagos plan.

BENCHMARKING

Galapagos maintains a database of 650,000+ community bank retail households and 150,000 business households, which we use to continually analyze banking trends and research customer perceptions to inform our strategy recommendations and program designs. The database is also used to benchmark client performance in a wide range of meaningful categories, including: Customer attrition, wallet share, same store sales, product penetration, customer commitment, and more.

Research

  • Customer commitment & Net Promoter Score (NPS) - High levels of customer commitment correlate to higher customer profitability. Our survey process measures customer commitment, reveals what factors drive higher commitment in your organization, and provides recommendations to improve it. Our findings allow you to compare your performance against national net promoter and customer commitment benchmarks.

  • Customer experience - Eighty percent of banks believe they deliver a superior customer experience but only eight percent of their customers agree. Do you know how your customers rate you? We provide surveys that measure the quality of service your customers experience during account opening and branch transactions, as well as their online experience.

  • Employee engagement - The performance of your frontline staff has the biggest impact on customer experience. Our process helps you understand which factors influence their engagement and how they can be improved.

  • Channel preference and use - How do customers use your delivery channels? How will their behavior change over time? Ongoing surveys into customer channel preference provide invaluable insight into channel strategy design.

  • Brand awareness - Strengths traditionally associated with the community bank brand are becoming less distinct as they are copied by competitors. New ways to reposition your core strengths have to be found to engage customers. Understanding current perceptions of your brand is the requisite first step in this process as brand awareness correlates to market performance and growth. In order to grow, consumers in your market have to be aware of your brand as well as have positive perceptions of it. Without brand awareness or with negative brand perception, promotions or marketing communications will lack success. Our process helps you understand how aware the market is of your brand, how favorably they perceive it, and the brand attributes that need to be communicated.

Market and customer Opportunity Analysis

Which customer segments drive the most revenue for your bank? Which afford the greatest long-term opportunity for growth? Why do customers buy from you? What’s the relative potential of the markets you serve? Could you do better by targeting certain segments of new markets? Without accurate answers to these questions, your marketing resources can’t be effectively prioritized to generate revenue growth. Our Customer and Market Growth Opportunity Assessments deliver insightful analysis of your customer base and markets and provide the basis for making informed decisions about the allocation of marketing dollars.

  • Customer and market segmentation

  • Customer base and current market potential

  • Branch performance and growth opportunity

  • Customer attrition measurement

  • Share of wallet

  • New customer acquisition opportunity

  • Customer value

  • Competitive positioning

  • Product penetration and usage

new market potential

In spite of increasing consumer reliance on digital channels, branching continues to be an important growth strategy for community institutions. But it’s not cheap. Therefore, we provide FIs with detailed analysis to support and inform decisions. We employ industry-leading databases to provide accurate demographic, psychographic, and firmographic data to screen new markets for potential and fit with your business and growth objectives. Our unique methodology provides the most comprehensive and accurate evaluations of market potential available.