A provider of financial services needed to gain a better understanding of their customer base: they wanted to know which segments existed, and how different customers perceived and used the company’s offerings. Understanding their customers’ unstated needs would allow them to meet their customers where they are, better tailor their products, services and experiences, and drive as customer engagement.
We designed this engagement to develop needs-based segmentation, (as opposed to a demographic segmentation), to get a deeper understanding of the customer and to discover what opportunities existed for higher engagement. Infused with human-centered design principles, our approach leveraged ethnographic research as a primary tool to develop segmentation hypotheses + insights that were later validated with quantitative research.
Over the course of 12 weeks, we conducted three qualitative research sprints. Each sprint consisted of 10-15 in-depth customer interviews conducted in a geographic market that was of high relevance to our client’s growth strategy. After each sprint, we met with our client core team to share results, discuss emerging insights, and extend our research approach into new areas of inquiry. This iterative approach maximized our client’s investment, since it allowed us to both broaden and deepen our findings based on new and emerging themes and insights.
At the end of our qualitative research phase, we validated our segmentation findings with quantitative analysis: we conducted a survey of our client’s member population, and cross-referenced our findings with a primary nation-wide industry survey, as well as secondary research.
// Research Plan
// Hypothesized Segmentation Model
// Customer interviews in 3 geographies
// Quantitative surveys to validate findings
// Behaviors and intervention opportunities
// Detailed Segmentation Report
// Executive Share-out