Prompted by a management change, the provider of a finance-related service with a national retail presence decided to review opportunities and test strategies to capitalize on them. Stax helped the client select three geographically dispersed markets within the U.S. to isolate key issues and test out strategies for addressing them.
Stax used a combination of internal data and insights, historical analysis, and customer research to identify the company’s position and competitive issues within each of the markets.
Armed with these profiles, Stax worked with the client to test out approaches to address the issues specific to each market, with the intent of leveraging solutions that worked and lessons learned more broadly across its nationwide network.
We provided the client with very specific steps to address each of the key issues on a market-by-market basis. The company was able to expand penetration within the test markets, subsequently rolling out some of the successful strategies to other markets while deprioritizing less successful ones.
Stax identified a range of key issues within each market, ranging from retail footprint, perceptions of the company’s expertise and value proposition, familiarity among Latino customers, and whether it provided convenient offerings in line with buyer expectations. Some of the issues were unique to individual markets, while others were shared among two or more.