Optimize Your Branch Investment through a Design Effectiveness Assessment
Consumers still demand brick and mortar, but they aren’t satisfied with current options. Today’s financial services organizations realize that the branch is more than just another delivery channel -- it can be a key differentiating factor.
We help you go beyond providing just a service platform by creating a customer experience that forges an emotional bond that translates into tangible sales.
While there is a small and growing portion of the market that prefers to bank exclusively through self-service channels, the largest segment of consumers are mixed channel users who typically use alternative channels for service and information, but continue to rely on branches for sales.
A recent Forrester Research report projects that almost 70 percent of new accounts will still be opened in person at a branch for at least the next few years. Although consumers have embraced many of the new distribution channels, it is clear that branches will survive for some time. But many consumers are dissatisfied with their branch experiences and bankers find their facilities are out of date with contemporary trends in retailing.
Align FSC believes that the industry has a significant opportunity to leverage the potential of the branch “stores” for sales and service. Banks must also leverage the value of the investments they have made in the branch delivery channel to attract and nurture desirable customer segments.
Align FSC can help you to…
- Examine all aspects of your branch facilities’ environment including a detailed site review of each branch location
- Assess your branch facility sales and service environment relative to your corporate goals and objectives, target market needs and preferences, and competitive positioning
- Maximize your investment in each branch by crafting a practical “Facilities Design Roadmap” that sets forth design recommendations, priorities, timelines and estimated costs
Why a Design Effectiveness Assessment?
Today’s financial institution executives realize that the branch is much more than just another delivery channel -- and can be the differentiating factor.Align FSC helps you go beyond providing just a service platform by creating a customer experience that …
- Forges an emotional bond between your brand and the customer that translates into tangible sales
- Maximizes your investment to compliment your marketing, sales and service strategy.
Benefits of the Design Effectiveness Assessment
Your institution will be provided a comprehensive and independent examination of the Company’s marketing environment as it relates to the physical facility.Align FSC will work collaboratively with you to…
- Identify problem areas and opportunities to optimize the sales and service environment in the branches
- Understand quantitatively and qualitatively which customers and how your customers use your branches
- Determine the effectiveness (from a customer-centric perspective) of the existing sales and merchandising functionality within the branches
- Establish for each branch, where appropriate, a specific and prioritized list of changes and upgrades to improve the sales and merchandising effectiveness within that branch
Align FSC Engagement Process
Align FSC’s Marketing Effectiveness Assessment includes three major tasks …Task #1 -- Data Collection
To begin, Align FSC will examine your current branch environment. This includes…
- Observing each branch during business hours, during a time when a substantial number of customers are using the branch to transact business. As part of this task, Align FSC will …
- Meet with your management team to gain a clear perspective on your current branch environment and to better understand your goals and objectives
- Collect market data for each branch trade area and which includes Align FSC market demographic and competitor information and any of your existing data that may help with the analysis
- Photo document the existing conditions at each branch
- Observe and document the manned sales and service positions as well as all unmanned channels (e.g. ATMs, customer service telephones, internet stations, etc.) available within the branch
- Observing customer flows, to identify how customers enter and exit the branch, how they move within it, and where they sit, stand, wait, and/or queue during sales and service transactions
- Identifying by type and location all sales and merchandising displays fixtures and materials
- Identifying un- or under-utilized areas of the branch.
Task #2 -- Analysis
Next, Align FSC will review the collected data to determine (from the customer’s and the Company’s point of view), the effectiveness of the existing sales and service environment. Specific issues will be addressed about each. For instance…
- Does the branch clearly convey your brand and corporate graphic standards? How well does it support your brand promise?
- What are the market characteristics of the branch trade areas and how do that relate to the branch designs?
- Is there a clear organizational structure to the facility? How are the sales and merchandising zones currently organized and managed?
- What are the most effective sales and merchandising elements currently used?
- How visible are the current sales and merchandising displays?
- What voids existing within the branch?
Finally, Align FSC will provide you with practical design recommendations to improve the sales and service environment in your branches and insure brand consistency.
As part of this task, Align FSC will provide “tune up” recommendations for each branch. Recommendations at this level will focus on improvements that can be executed quickly, easily, and at low cost to enhance sales and service effectiveness, such as…
- Changes to the height, lighting, or location of existing elements to improve their visibility and impact
- Modifications to the way existing elements are used by the branch to improve their focus and effectiveness
- Recommendations on removal or relocation of specific elements to improve focus and eliminate clutter
- Recommendations on what specific types of supplemental elements can be added at specific places to broaden the reach of sales and merchandising efforts
- Ideas and recommendations concerning other minor changes that would improve the general appearance and presentation of the Branch
- Concepts and recommendations concerning enhancing directional, departmental and branding elements within the branch
- Other recommendations will be made that can be executed over time as resources permit.
The Deliverables
Align FSC will facilitate a half-day, on-site presentation of its findings and round-table discussion with key executives and management and discuss in detail the “Roadmap for Success” and deliver…- Branch Survey Documentation – Align FSC will provide a detailed survey of the existing facility. This survey will include a complete demographic profile, interior and exterior photographs of the existing facility, and design schematic of the location with documentation of existing fixture placement.
- Facility Tune Up – Align FSC will provide a short-term plan of action outlining specific upgrade path options for each location that can be executed immediately. This will include examples and pictures illustrating remodel options.
- Facilities Design Roadmap –A comprehensive design plan for each location along with estimated costs and benefits.
Interested? Contact us today. Align FSC can work with you and your team to customize a project for you to optimize branch investments by:
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Examining all aspects of your marketing as it relates to the physical facility and branch network.
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Conducting a detailed site survey of each branch location
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Defining a “Facility Roadmap” that identifies prioritized actions, timelines and estimated costs.
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