Case Study

Financial Services Institution Effectively Expands Target Market

How a major financial services institution expanded its target market

Client challenges

A financial services firm wanted to expand its customer base with an offering for women, but there was internal concern that such an approach would alienate the firm’s traditional customer base of affluent men. The firm needed to:

  • Understand the differences between target segments
  • Effectively grow a customer base without attrition of existing clients
Gartner solutions

Gartner helped the firm build an inclusive strategy to improve market penetration with both men and women.

  • “He said, She said” research, unveiled at Iconosphere, underscored the importance of focusing on the similarities between genders. 
  • Working through consumer data with Gartner Iconoculture strategists, the firm was able to identify the core shared values between its target consumers.
  • Employing an advisory-led analysis of Gartner Iconoculture’s proprietary values survey, the firm constructed several experiments to prove the efficacy of targeting both genders with a single message.
Business impact

Accelerated growth initiatives
The new strategy and messaging increased campaign responses by 10% in the new target market without negatively impacting the firm’s traditional customer base.

Alignment and support for key initiatives
Different teams within the firm are now confidently targeting women using the new strategy.

We definitely got more traction and engagement from this. It ended up being the proof point that was needed.

Head of Consumer Insights, Financial Services Company

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