GISBanker - Market Analytics

Changes in the economy have created a new normal for the financial service industry, creating an opportunity for proactive management to understand their primary service areas, increased competition and changing demographic and economic profiles including business composition in the area. Management needs to change their mindset to focus more strategically on how to thrive in today's market. By becoming aware of changes in your markets you will be able to create Hyper Focused and Targeted marketing campaigns that attract and convert quality leads, design or improve products offered and differentiate yourself from your competition.

Hyper Focused View of Your Market

We provide services that can simultaneously increase your reach into your target markets while saving you time and money and improving your efficiency, all grounded on data. Using GIS technology, combined with years of experience, we help you develop a focused view of your markets based on the most current data.

A comprehensive market analysis will help you understand the changing dynamics of your primary service area (PSA) or trade area, your competition, changing demographics and how these factors impact your target customers.

We offer a comprehensive analysis based on:

Target customers and non-customers for both up-sell and cross-sell opportunities - "increase your share of wallet",

HMDA and CRA analysis - both deposits and loans

Business trends,

Trade Area analysis including the new 2020 census tract definitions which have to be understood as they might change the LMI area

Definition of the Competition,

Business distributions by SIC and Sales Volumes,

Deposit trends,

Customer Profiles and service utilization for the institution and by branch or location – and more.

Customer Data Enrichment

With a "data-driven" approach, we help our clients make strategic decisions based on analysis and interpretation of data. This helps them better serve their customers, increase sales, improve operations, and identify new business opportunities. We integrate your customer account data with enhanced market data and third parts data, into our GIS-based analytics to help you understand your customers, where they are located, and changes that are occurring in the market.

To learn more about customer segmentation and data enhancement

click this link:

Market Segmentation - If you are trying to talk to everyone, you're not talking to anyone - learn more

For example, do you know how these changes are affecting your specific markets?:

U.S. Census Bureau’s Vintage 2021

Census estimates suggest that more than 73% (2,297) of U.S. counties experienced natural decrease in 2021, up from 45.5% in 2019 and 55.5% in 2020. According to the U.S. Census Bureau’s 2021 estimates of population and components of change released in March 2022, natural decrease occurs when there are more deaths than births in a population over a given time period.

Based on the 2020 census, the overall racial and ethnic diversity of the country has increased since 2010, according to U.S. Census Bureau analyses released in January 2022. The most prevalent racial or ethnic group for the United States was the White alone non-Hispanic population at 57.8%. This decreased from 63.7% in 2010. In addition, over the last decade, the nation grew at its slowest rate since the 1930s, a slowdown broadly reflected in local area 2020 Census population counts released earlier this year. Less than half of the nation’s 3,143 counties or equivalents gained population from 2010 to 2020. Moreover, the United States Census Bureau added 1,072 new census tracts nationally. Do you know how these changes will affect your institution and its compliance and marketing programs?,

As the population changes so do the businesses in the communities you serve. Have you addressed the impact on your marketing efforts as a result of the changes in the demographic composition of your market?

Use our customer data analysis and customized market segmentation to become laser focused for 2023.

The market diagnostic package includes:
Population Profiles:	Demographic, household, and family characteristics
Business Profiles:	Characteristics of your market's workers and businesses. For a sample overview click here of call for more information.
Product potential:	Define the potential of the market area based on your customer characteristics and the market area characteristics - for deposits or loans
Distribution System & Network Coverage:	Define the natural trade areas for each branch based on the proximity of customers to the branch - for both deposits and loans
Competitive Study:	Analyses of your market's competitive structure and dynamics with key share and share-of-wallet measures highlighted
Customer Profiles and Market Segmentation:	Evaluation of your institution's - specific trends related to household profitability, service and delivery channel usage, cross-sell success and relationship growth For more information on Market Segmentation Click here

Use our customer data enhancement and customized market segmentation to become laser focused.

Watch this two minute video about customer data enhancement at the household level.

--

If you are interested in knowing more about our service, please contact us here:

Steve Bouton, Director (619)917-7596 for more information. Or Click here to email for more details