The total number of channels that costumers can be acquired through has proliferated and very few financial institutions have leveraged this as an advantage. Meanwhile, FinTech solutions have swept up a sizeable share of the market, with the industry analysts reporting that 20% of financial service businesses are at risk.
The technological revolution is increasingly making waves in the Finance Industry. Financial institutions are now competing with FinTech startups that are taking a sizeable share of the market. At the same time, customers now expect a seamless digital experience through every stage of the customer journey. From usability testing to live-chats, financial institutions need a holistic way to conduct and scale their research while maintaining a consistent stream of customer feedback to turn into an actionable decision-making process.
The varied and nuanced challenges the Finance Industry faces requires a market research strategy that uninterruptedly gathers customer knowledge. This evolving financial landscape demands that businesses obtain the most agile research tools, which supply a continuous flow of actionable data to inform products, digital channels, and customer acquisition and retention.
The Fuel Cycle Research Cloud empowers financial institutions and professionals to access and consolidate the best research solutions on a single platform. Fuel Cycle’s goal is to enable businesses to retire one-off research projects and instead create a continuous flow of in-the-moment and precise customer insights. Through online communities, panels, and custom research technologies that are tailored to fit the individual needs of businesses, the Finance Industry can compete and lead in a time of unprecedented change in the market.
Leverage our network of FCX partners to enable usability testing, prototyping and biometrics capabilities to optimize your digital presence.
Define more targeted segments by leveraging a multitude of data sources, such as your CRM, and engage customers in studies specific to their demographic.
Enable discussions that offer an opportunity for members to freely provide their thoughts and opinions that effect the financial consumer landscape.
Conduct research with non-customer sample that is informed by the insights you capture from existing customers in your community.
By creating separate communities comprised of employees, customers, and brokers to holistically inform all areas of business.
The Fuel Cycle Research Solution provides businesses with instant and direct access to their most engaged customers. Detailed below are Fuel Cycle’s tried and tested methodologies that work best for our Finance Clients. These studies can be launched in a matter of minutes, and clients can receive same day results to inform vital business decisions.
Brand loyalty is the biggest determining factor of a company’s long-term success. Brands need a reliable way to measure and understand changes in brand affinity over time.
Brands need to reliably measure the potential viability of products and concepts, as well as test their market potential before investing in development efforts.
Brands need a reliable way to measure price sensitivity in the market before making important business decisions.
Brands need a reliable way to measure and understand changes in brand perception over time, as well as how they compare to competitors.
Brands need access to the most sophisticated tools to gauge and enhance the user experience.
Brands need a high degree confidence that the marketing content they are creating will resonate with their customers.
Fuel Cycle has many Finance Clients who have garnered industry success through the Fuel Cycle platform. This case study is just one example of many research studies that our Finance Clients have launched using the Fuel Cycle platform for their business needs.
A finance client wants to re-imagine their future annual reports as an online experience to take advantage of the web’s customer accessibility. They also want to considerably expand on traditional annual report content, employ more client-centric information, and convince consumers that they can trust their brand with their financial planning and security.
A survey with community members was launched. 475 consumers were polled to share their thoughts on the Annual Report that they had recently received.
Afterwards, 9 consumers were chosen—who expressed interest in participating in a live chat. They shared deeper feedback on their Annual Report and provided nuanced detail into much need improvements to the user experience.
The client found the feedback from the consumers to be extremely impactful. More specifically, they used the feedback to directly inform much of the changes that were implemented in the following year’s Annual Report and successfully raised their customer satisfaction score.
Here are a few of our partners who provide richer insights catered specifically to your business needs:
User Zoom
Employ the leading UX insights software to fine-tune the user experience precisely to the customers’ desire.
Meta4insight
Receive insight into customers’ unconscious behaviors by using a solution designed to capture system 1 thoughts.
voxpopme
Use the power of automated video analysis to gather nuanced and rich detail on your product and brand.
Remesh
Gather rich customer feedback by using technology that analyzes and segments qualitative data on a large scale.
Fuel Cycle empowers the entire organization with a deep, on-demand market understanding to solve the hardest research problems businesses face. Don’t settle for disconnected products, trackers, and tools — take control of continuous research, fully integrated, in one solution.
