Case Study

Case Study: Strategic Product Development Insights

Context:
A national SaaS provider in the banking industry sought to better understand unique personas within two key audiences: the general population and small/medium-sized business owners. The goal was to explore how these groups interact with financial institutions, identify fragmented behaviors across financial products, and enhance engagement through targeted marketing efforts.

Engagement:
Strop was engaged to deliver a comprehensive segmentation study. The objective was to uncover why certain customer segments were less responsive to marketing campaigns and to craft powerful messaging strategies that could drive deeper engagement. Strop developed a custom quantitative survey, incorporating targeted questions designed to identify and categorize potential customers. These data points were then used to build a segmented view of the population.
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Insights Tool:
After data collection, Strop utilized Factor and Clustering analyses to pinpoint the most distinct “clusters” of respondents within the two audiences. By employing multiple platforms (R, SPSS, Tableau), Strop was able to execute an in-depth analysis, revealing key differentiators among the segments.

Result:
The study identified valuable opportunities within both target groups, shedding light on perceptual, attitudinal, and behavioral differences that impact how each segment engages with financial products and institutions. These insights enabled the client to refine marketing strategies and improve outreach to better align with customer needs and preferences.