An ambitious venture within a globally recognized financial institution sought to introduce a new digital bank targeting sustainability and climate-conscious millennials. They faced a range of challenges - understanding millennials' deep underlying needs regarding banking, identifying the right launch market, and determining the priority banking products to offer. These were all critical components of their go-to-market strategy. They turned to Untold for our expertise in uncovering these key insights.
We embraced a combination of traditional and innovative research techniques, including Jobs to be Done, to delve into these crucial areas. Navigating the intricacies of the banking sector—often characterized by high inertia and low engagement—required deep ethnographic interviewing techniques. These allowed us to extract genuine, valuable insights beneath the surface-level responses.
The topic of sustainability added another layer of complexity to our research. Consumers tend to overestimate its importance, potentially skewing the data. Our approach was designed to uncover the true motivations driving customer behavior, giving us a clear vision of what the market truly demanded.
Our research significantly influenced their go-to-market strategy. We identified the UK as the ideal launch market and recommended focusing on savings products, perceived as less risky by UK consumers. We also pinpointed the core consumer segments interested in savings accounts, setting the stage for the successful launch of this innovative service.
"The team is brilliant at getting to the core of what consumers really want. They guided us to avoid the pitfalls of traditional research techniques and ensured we had the right support to do something new and different."