Bank Marketing, Branch Selection & Branch Network Optimization
Bank decision makers and financial services marketers faced with ongoing challenges can make better business decisions with the help of software, data and analytic services from Mapping Analytics:
- Who are my best customers and how can I keep them?
- Where is the greatest market potential to find new customers?
- What locations should I choose to expand our branch network?
- Is our network of bank branches optimized for maximum performance?
The answer to each of these questions depends in large part on geography and location. That means working with Mapping Analytics — experts in mapping and analysis since 1989 — makes sense. Many banks, both large and small, use our services to improve marketing and branch network decisions.
We can help you in the following analytic areas:
Bank Customer Segmentation Analysis
Gain a clear understanding of your customers. Mapping Analytics combines data from your customer information file with demographic and lifestyle data that describes and predicts consumer behavior and buying patterns. For banks with commercial customers, we segment by SIC codes and business demographics.
By segmenting your customers into groups based on their type and behavior, you will have a foundation for successful marketing, including targeted promotions, market expansion and branch network optimization.
- Learn more about customer profiling
Branch Trade Area and Performance Analysis
Using customer, product mix and transaction data, Mapping Analytics can help you construct accurate trade areas for existing branches and estimate trade areas when evaluating new branches.
Accurate trade areas based on actual customer behavior, rather than approximations based on mile rings or drive times, are essential to understanding bank branch performance.
Mapping Analytics determines branch performance by comparing your bank's product mix within its trade area to market penetration and share of wallet. We use commercially available market data in our analysis to score penetration, potential and share of wallet. You will be able to see the level of demand for your products and services in any area.
Analyzing branches according to their performance helps you make better decisions regarding product offerings and marketing campaigns. This analysis also serves as the foundation for optimizing your branch network and evaluating potential new branch locations.
Branch Network Optimization and New Branch Evaluation
Based on results of branch trade area and branch performance analysis, Mapping Analytics will develop a model you can use to evaluate any existing or potential bank branch location — or your entire network of branches.
An analysis of your branch network also includes your candidate sites and competitor sites. It will help you determine which locations generate the greatest positive impact on your overall network. A branch network analysis will help you answer the following questions:
- Which areas within the current network offer the most potential for opening new branches?
- How many branches could/should be added to the current network?
- Which branches should be closed?
And, when opportunity arises for opening a new branch, you will be able to quickly determine how a potential site compares with existing sites and the impact on your overall branch network.
- Discover our site selection services