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Case study

SWOT Analysis Builds on Bank Strengths for Small Business Products

Client/Situation

One of the leading U.S. banks wanted to understand small business banking product and service use among its customers and those of leading competitors to identify strengths and weaknesses in its product suite and cross-sell efforts.

Approach/Solution
Phoenix MI conducted a quantitative online study among 4,000 U.S. businesses ranging from micro-businesses up to those with $10M in annual revenue.

The sample was stratified by industry as well as revenue bands to ensure that the results were projectable to the total small business population in the nation.

Results

We conducted a SWOT analysis of the data which enabled our client to focus improvement efforts on poorly performing product areas and to create product bundles which capitalized on their strengths. The research also delivered competitive insight that allowed our client to target customers of key competitors with specific “client-win” tactics by exploiting competitors’ known weaknesses.

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