Market-driven principles set the stage.
Our work is guided by a set of market-driven principles, striking the appropriate balance between addressing customer needs and profitability, to build stronger brands and stronger businesses.
Through our strategic planning engagements for financial institutions in the U.S., Europe, Canada, and Latin America, Align fsc has learned that effective business planning hinges on a proper definition of a company's customer product/market boundaries.
Companies in industries such as consumer packaged good and manufacturing have know this for some time. Financial service companies, in contrast, have traditionally relied upon management judgment and operational capabilities to guide the strategic direction of the institution. However, with the increased competition seen today, this approach isn't working. Many financial service companies have failed to develop long-term, sustainable competitive advantages to protect their customer markets. As a result, new competitors savvy in business planning techniques have attacked and overrun once-sacred territory.
Align FSC believes that the time has come for financial institution managers to begin defining their business objectives, strategies and tactical plans by focusing on the most basic of all strategic questions...
Ultimately, the answers financial services managers give to this question will gauge all levels of planning as well as how they gauge their performance in penetrating competitive markets.
While every client situation requires a unique solution, all of our work is guided by a set of time-tested principles. These principles, listed below, provide the foundation from which innovative strategies and plans emerge.
Clearly define target customers and their needs through the application of market segmentation, market research and analysis
Build a deep and shared understanding of the brand and ensure consistent delivery across all customer touch points (e.g, sales, marketing, product development, delivery, etc.)
Selectively extend the core business via new markets, new channels and new products and services
Manage innovation against strategic growth opportunity areas, applying strategic, operational and financial screens to facilitate decision-making
Fully execute on the market-driven strategies through integrated awareness-building, customer acquisition, activation, cross-sales and retention programs
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Our professionals have successfully employed these principles to help develop, grow and manage dozens of financial services businesses, across a diverse set of geographies and client issues.