Option #1:  Research Summary Package
This package is a must have for any organization contemplating or implementing an experience-based retail banking strategy.  You’ll receive all the core study components – allowing you to validate or adjust your current approach with the latest market research available.  This package includes:
 
Executive Interview Report—An 80+ page report containing key themes and insights emerging from interviews with over 40 executives known for their innovative practices and experience-based business models. 

Relationship Experience Diagnostic Report – An 80+ page report based on a comprehensive survey of over 450 retail banking executives designed to assess and benchmark the industry’s current state of readiness to deliver experience-based retail banking .

National Consumer Research Report – A 50+ page report on the results of a nationally representative survey completed by 2, 430 U.S. consumers in July/August 2006.  This robust report summarizes the key findings of the consumer research with an executive summary, and contains cutting edge research based on an assessment of experiential attributes and a tradeoff analysis. The research is presented predominantly in two segmentation formats – an attitudinal based 5-segment model, and a loyalty-based 4-segment model.

Banking Strategies November/December 2006 Article – " Customer Experiences Rule," by Paul McAdam and B. Joseph Pine.  This article explores the concept “customer sacrifice – the gap between what a customer wants exactly and what he settles for.  The article spotlights eight specific banking experiences that customers value highly. 

Four Research Briefs – Authored by BAI and each of the Sponsors, each article highlights a unique theme that emerged from the research.

All study components are delivered to you via CD in a downloadable PDF format that can be shared with an unlimited amount of individuals within your financial institution.  

Research Summary Package Fee:

Non-Member Fee: $2,500
Member Fee: $2,200

Order the study now!

Note: This research package is only available to financial institutions.  You must be a BAI member to take advantage of BAI Member pricing.  If you have questions about your membership status or the research offering, please contact BAI Customer Service at 800-224-9889.

Option #2:  Research Data Package
For those organizations needing to take a “deep dive” into the data, this is the package for you. You’ll receive all the components from the Research Summary Package, PLUS the complete national consumer research datafile.  Complete with cross-tabs, this SPSS datafile contains responses from over 2,430 consumers regarding their attitudes toward specific retail banking experiences, and the wallet share that they allocate to their preferred banking provider.  You’ll be able to analyze the data that is most relevant to you in order to make more informed decisions about how and where you are investing in your customer experience strategy.

The research data package will contain the:

1. Survey instrument, which contains the following sections:
   1. Attitudinal Preferences
   2. Product ownership profile, by institution type
   3. Experiential Preferences
   4. Loyalty Assessment
   5. Tradeoff model to assess relative utility values for 11 key drivers:
      • Many vs. few locations
      • Tradition vs. evening/weekend hours
      • Warm vs. efficient atmosphere
      • Low vs. high staff turnover
      • “Chatty” staff vs. avoids-chat staff
      • Offers all products vs. limited products
      • Highest-in-the-market vs. market-average interest rates
      • Lowest-in-the-market vs. market-averages fees/charges
      • Coffee/tea/internet/sittings areas vs. none of these
      • Educational seminars vs. no seminars
      • One banker handles all products vs. banker must refer to specialists
   6. Wallet Information
   7. Basic Demographic Information
2. Data File in SPSS based on the 2,430 responses (nationally balanced)
3. Cross-tab tables based on various different analyses
4. In addition to the reports as part of the standard package (and the segmentation schema – both attitudinal and loyalty-based, users will have the opportunity to segment and analyze consumers by age and income as well.
5. Any algorithms for the Attitudinal and Loyalty segmentation schema.

With the data package, financial institutions will be able to create segmented strategies; develop or refine campaign management and lead generation analytics based on “striping” or overlaying the MCIF databases with “segment” tags, and develop product and service offerings to address specific customer segment needs based on their preponderance in one’s existing customer base or footprint.

Research Data Package Fee:

Non-Member Fee: $7,500
Member Fee: $6,250

Order the study now!

Note:  This research package is only available to financial institutions.  You must be a BAI member to take advantage of BAI Member pricing.  If you have questions about your membership status or the research offering, please contact BAI Customer Service at 800-224-9889.