Finance case studies

Retail Banking-Savings Products

Our client wanted to introduce a new savings product to the Canadian market. They developed six possible offers and wanted to determine which one to introduce in order to maximize consumer interest and uptake.

Using TNS Canada's Financial Panel, we surveyed over 3,000 consumers, matching samples of our client's customers and non-customers in order to assess how these savings products would potentially impact on both current customer share of wallet and acquisition of new customers. TNS' Concept Screener Index was utilized to assess the potential of each of the six offers in the absolute relative to a normative database, and relative to each other. Based on the research, we identified the highest potential concept, which was introduced by our client. Within the first week of its launch, it had achieved over 80% of its target uptake.

Retail Banking-Customer Retention

A major bank could find no link between customer satisfaction and loyalty as measured by its tracking program, and customer profitability. TNS developed an innovative approach.

The bank's newsletter was sent to 350,000 of their high value clients. TNS' Conversion Model™ was added to a questionnaire included in the newsletter, which was completed by 35,000 clients.

Conversion Model™ commitment segmentation was applied to these clients. Based on this, TNS developed a predictive model of commitment using customer demographic and behavioural data already held by the bank to tag 3.5 million high value customers.

As a result of this research, the bank developed a "Personal Choice" program for Committed customers (e.g. dedicated manager, customized financial statement, tailored products/services), which resulted in increased customer profitability from lower attrition and higher sales.

They also sent a "We know you are unhappy." questionnaire to select profitable Uncommitted customers" to assess their channel preferences, product interests, opportunity to state service problems. This resulted in tripling of "willingness to consider" scores on their customer satisfaction tracking in just 6 months and a 5% increase in product holdings.

Retail Banking-Credit Cards

A major bank was planning to introduce a new credit card targeted at post-secondary school students. Fourteen different card designs and three alternative names were under consideration. TNS Canada was commissioned to conduct research to assist the bank in determining which card design and name to introduce.

We conducted an online survey of people 18 to 24 years of age who are currently full-time or part-time students at a university or college, or planning to attend one within the next year. We incorporated our proprietary Tournament approach into the study design. While initially developed as a tool to reduce a large pool of concepts into a smaller set of high potential concepts, Tournament is an ideal means of evaluating credit card designs.

The 'winning' design and name were identified, and this card was sucessfully launched. The client was so pleased with this approach, that they have incorporated Tournament into studies to select the design for all of their new credit cards.

Small Business

Our client, a provider of financial services for consumer and business markets, wanted to enhance their profile in the small business market, with a goal of extending their solid reputation beyond their traditional role as a provider of financial services. Ultimately, they wanted to be seen as small business experts, providing small business owners with information and tools to assist them in managing all aspects of their business.

With this goal in mind, they wanted to understand issues of concern to small businesses and their wants and needs, not only with respect to financial matters, but, more broadly, regarding anything that impacts on their business, including general economic issues, social issues, technology, health and lifestyle matters.

TNS Canada developed a unique, multi-phase research program, which included:

  • In-depth interviews with small business experts
  • Secondary "desk" research
  • Online survey to identify major concerns of small business owners and how they spend their typical day
  • Online bulletin boards with 60 small business owners to discuss their day to day challenges and to obtain their reaction to possible new service/product concepts
  • "Job shadowing"-half day spent with small business owners
  • Mini-groups to gain in-depth understanding of themes arising from the online bulletin boards

The results of the research program were used for public relations purposes, and for creation of a new advertising program aimed at small business owners.

Sports Sponsorship

Our client, a significant sponsor of a premier Canadian sporting event, wanted to understand the value they received from their sponsorship of the televised event. Using TNS Sport division's proprietary Sportsi software, we measured the visual exposure of the client's logo on the game field, as well as at pre-game and post-game broadcasts. This software not only provided a true measure of the time that the logo appeared onscreen, but also measured the size of the source on screen as well.

TNS was able to quantify the value achieved by the sponsorship. This information was used to evaluate the cost/benefit of future sponsorship opportunities. At the same time, guidance was provided as to the physical locations of the client's logo for future events.

TNS Global Finance is present in 90% of the global finance market research sector.