client was planning to develop and launch a range of new propositions with a
view to encouraging business customers to switch banks. Research was required
to understand what will be the best offers to entice customers to switch and
the likely impact of each of the different attributes.
complex range of potential new propositions needed to be offered, some options
being fairly sensitive, and an understanding of the way business customers
would trade off the different aspects was needed. A very large study was
required to ensure results were robust, both overall and among different
recommended large scale quantitative study with a detailed conjoint element. In
order to increase response rate and ensure a representative spread of types of
customers, we conducted a telephone recruitment exercise followed by an online survey among small
business customers (turnover up to £2m). 1600 telephone and 1000 online surveys
As well as a standard report, the results were displayed in a simulator model. This was based on an underlying set of complex algorithms but displayed using excel in an easy to use simple way to ensure client buy-in, understanding and usage and to bring the insight to life. The results within the excel model were able to be filtered by different types of business customers.
The client has been able to design the proposition around the likely behaviours of the target customers, ready to be launched in 2018.