Banking

Bank Area Analysis Study

A local bank was considering the option of opening a new branch in El Metn region and requested that InfoPro carry-out an area analysis in order to assess its commercial viability. To meet the objectives of the study, InfoPro recommended the following multi-faceted methodology: 1) Desk Research 2) Ground Scanning 3) Traffic Flow Analysis and 4) In-depth interviews with Real Estate brokers from the area under study. The desk research exercise helped identify the potential of the area under study and specifically demographics of the population, population growth rate, businesses currently available and upcoming, real estate projects under way, in addition to identifying branches of competing banks and their location. The ground scanning exercise helped identify informal businesses available in the area and real estate projects under development and which were not obtained through the desk research exercise. The traffic flow analysis helped pinpoint the areas with the highest traffic flow at various intervals which eventually helped the bank identify the location of the new branch. The in-depth interviews with real estate brokers helped provide a macro-overview of real estate in the Metn area which in turn helped identify the commercial viability of the area. The study was able to provide the bank with a clear vision of the area under study which eventually helped them assess the potential for a new branch.

 

Usage and Attitude Survey Assessing Bank Customers Interaction Channels

A local bank was interested in conducting a study to assess bank customers’ interaction channels and customers’ expectations with regard to their relationship with their bank. They also wanted to evaluate changes in customers’ lifestyles and in the ways of handling financial transactions, and how these affected their interaction with their banks and their disposition to adopting e-banking services. To reach the objectives of the survey, InfoPro conducted face-to-face quantitative surveys with a sample of 500 individuals, 150 professionals, and 250 micro, small, and medium sized enterprises (MSMEs). For each segment, InfoPro assessed their demographic and psychographic profile including their habits with regards to the use of electronic communication devices and social media. InfoPro also assessed their banking habits, the interaction points that they use, their satisfaction level with each interaction point, and any changes which might have affected these channels. The survey also investigated the products / services that they currently have and their interest in adopting new products / services. The findings of the surveys assisted the bank in developing products and services that meet the needs of their retail and corporate clients in the coming five years. The survey also enabled the bank to enhance its relationship with its current customers, increase its customer base, and simultaneously help in developing suitable and effective strategies for the future.

 

BankTrak

Since 1997, InfoPro has studied retail-banking clients by conducting Bank Trak, a nationwide annual consumer survey. BankTrak is based on a nationwide sample of 5,000 households and helps banks identify their regional strengths and weaknesses in comparison to the competition, assess the performance of their products and services, identify product development potential, the strength of their communication and how there are perceived by the general population. BankTrak also helps clients assess their brand health and specific issues which they might need to improve.  Below are some of the information assessed:

  • Identify the penetration level in the retail banking sector in Lebanon
  • Identify the Market share of banks in Lebanon
  • Assess the awareness, usage, attitudes, of bank clients
  • Determine the needs and perceptions of bank clients
  • Assess the advertising impact and efficiency of banks in Lebanon
  • Evaluate the general degree of satisfaction of bank clients
  • Determine the clients’ profiles

The BankTrak software also allows customization and data-mining regionally, per sub-social group, and per product or service category.

 

Brand Traker

An InfoPro syndicated product which consists of four waves per year.  Each wave entails nationwide interviews with 1,000 Lebanese residents aged between 18 and 64. BrandTraker monitors the performance of banks on the following aspects:

  • Brand Usage and Attitude
  • Advertising campaign and slogan recall and impact
  • Brand image and perception
  • Client satisfaction, Loyalty, and switching intention
  • Exclusive questions specified by clients

 

BrandTraker also demonstrates the individualized progress of leading banks by utilizing the InfoPro Brand Index (IBI). Seven variables of bank performance are tracked over time. These variables are:

  1. Top of Mind Awareness = First Bank that comes to mind
  2. Spontaneous Recall = All other banks that come to mind
  3. Advertising Recall = Recall of advertising by bank
  4. Usage/Market Share = Bank(s) deal with
  5. Satisfaction = Level of satisfaction with banking relationship(s)
  6. Reputation = Evaluate reputation of banks known to you
  7. Loyalty = Do not intend or am unlikely to leave bank

 

Each BrandTraker report includes a comparative assessment with previous waves carried out. The comparative assessment allows banks to assess fluctuations in the receptiveness of their various communication strategies, reputation, client satisfaction, loyalty among other issues.

 

Bank Brand Image and Perception Study

A local bank was interested in conducting a study to assess individuals’ awareness of their brand. InfoPro tapped into several components in carrying out its assessment; awareness of the FNB Brand, perception of the Brand vs. other commercial banks, and the banks that individuals are currently dealing with. The study utilized a qualitative and quantitative approach. The qualitative approach entailed focus group sessions with individuals who have respondents who have incomes ranging from $1,500 to $3,000 and individuals with an income of $3,000 and above.  The aim of the focus groups was to help identify individuals’ perception of the bank, compare the bank’s overall image across criteria set by the bank’s management, evaluate the logo and colors of the bank, and assess a specific advertisement campaign for the bank. InfoPro also relied on the focus groups to formulate the questionnaire for the quantitative segment of the study and to shed light on whether certain issues need to be accentuated or removed.  The CATI interviews were conducted with 500 bankerized individuals in the greater Beirut area and they helped identify individuals’ awareness of the bank vs. the competition, their market share, awareness of their advertising campaigns among other pertinent issues. The bank was able to rely on both phases to assess their brand image and formulate their future communication strategy.

 

Advertisement Tracker Study

A local bank was interested in carrying-out a pre and post advertisement  study in order to assess its marketing and communication efforts by relying on a set of pre-set criteria. Each wave was supposed to provide the bank with their brand awareness and perception benchmarked vis-à-vis their competitors, in addition to tracking their level of progress on a quarterly basis. The bank was also interested in assessing the advertisements released by banks during the same period. InfoPro’ therefore tapped into several components in carrying out its assessment; 1) individuals awareness and perception of the various banks in Lebanon 2) a detailed assessment of the bank’s advertisements vs. the competition 3) slogan recall of the top banks in Lebanon and a 4) demographic section. The study covered the areas surrounding BLF’s branches and specifically those located in Administrative Beirut and Mount Lebanon. InfoPro interviewed 500 bankerized individuals through Computer Assisted Telephone Interviews to reach the objectives of the study.