Essential elements of an insightful market analysis
The 2015 Growth Strategy Survey reports that 22% of financial institution respondents have plans to grow in the coming year through new branch and 17% through branch acquisitions. A top question on a CEO’s mind is often where to locate a new branch to capture their target market. Through our experience working with financial institutions’ leadership teams, we have identified four key components of a well-planned market analysis that present a roadmap for optimal growth.
The results of the market analysis provide specific recommendations on where to optimally locate new branches over the next 3-5 years. To further maximize benefits of the report findings, your credit union should also integrate these findings into an overall market expansion strategy for future mergers and acquisitions.