More specifically, the bank sought to:
Identify pain points and areas of opportunity around Merchant Solutions, specifically for payment processing
Evaluate a new small business concept catered to retail SBO’s
Prioritize a list of up to 50 product/brand/service features among SBOs
3-day Digital Hive to understand how SBOs are leveraging merchant solutions to uncover white space and enhancement opportunities with the product
3-day Digital Hive to explore the extent to which the new SB offering was compelling to retail SBO’s
MaxDiff Quantitative Survey to determine SBO’s reactions to product/service/brand features and identify the most favorable products/services to highlight among SBOs.
Insights are being used to present these learning from top down – by business banking stakeholders / marketing executives and creative teams
Appeal to new SBO customers to achieve their growth strategy of opening ~3,000 new business online checking accounts and ~10,000 New Merchant accounts.