Scroll down to read about a customer profiling project Datamine did with Kiwibank.

kiwibank

 

 

THE CHALLENGE

Kiwibank wanted to understand more about its existing Business Banking customers and how these businesses fitted within the context of the New Zealand SME market as a whole. This information was intended to help them develop growth strategies, direct their future marketing communications and inform targeted campaigns. 

Kiwibank were looking for cross-sell opportunities for their existing customers, as well as geographic and industry areas where there was potential for acquisition.

THE SOLUTION

Datamine analysed the bank’s current market share by region, business size and industry to identify areas where there was potential to acquire more SME customers.  The project also explored the product holdings of current customers and identified gaps that illustrated cross-sell opportunities for Kiwibank. 

This analysis identified a particular Kiwibank product that was of high value, despite relatively small holdings across their customer base.  This provided evidence of an area of great potential for cross-sell initiatives that were likely to deliver high returns.

THE RESULT

Kiwibank had already formulated an image of the ‘ideal SME customer’ which was to be taken into account during this analysis.  The project enabled some of the assumptions that formed this profile to be proven correct and others to be debunked.

This profiling project has given Kiwibank a clearer picture of growth opportunities and informed their marketing and communications initiatives.  Kiwibank are now able to target geographical areas where they know there is higher potential and industries that they know will be more profitable to have as customers.

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