Similar to businesses in other industries, banks must work diligently to keep up with rapid changes in the digital world. Banks face increased competition because customers now have more options, including new banks, alternative payment systems such as PayPal, mobile banking applications and other competing services.
When it comes to growth strategies for banks, it’s important to accumulate the business intelligence needed to learn about existing and future customers. To help your bank get the data and intelligence it needs to grow in a competitive market. MapBusinessOnline provides decision-makers with the tools they need to perform necessary market analyses in an ever-changing banking environment.
Studies have shown that banks that utilize location-based analysis to select branch and ATM sites operate more efficiently — and have a higher level of deposits and profits. These institutions also tend to attract more households that open new checking accounts.
To make the best decisions, MapBusinessOnline will help you identify the following information about your market:
Our geographical tools have the latest USA Census Tracts. Import location enabled FFIEC data or other business datasets for informative map views. You can use the map notes and callouts to identify bank, credit union and ATM locations. You can also verify your compliance with regulations.
To sustain growth, more banks have established a customer-centric strategy that focuses on gaining a clear understanding of their customers’ needs. Marketers divide customers into subgroups based on similar behaviors and characteristics. This degree of segmentation enables banks to provide effective and unique sale offers.
MapBusinessOnline software can help you achieve even better market customer segmentation analysis by optimizing each segment to provide a unique view of customers. You can filter customers by location, drive time, or by critical aspects of your imported data like credit history or savings account balances. This will help you learn where the opportunities are, so you can invest the proper resources and develop effective strategies that are designed to customize messages and strengthen customer relationships.
MapBusinessOnline can also help you visually enhance your business intelligence by simplifying the evaluation process and weighing the advantages and disadvantages of different locations for your ATMs and branches. Our powerful location, database management and query tools make it easy for you to pinpoint the location of your facilities, customers and competitors.
You also have the demographic characteristics of your customer areas of interest at your fingertips. Census data will help you identify the underserved sections, and you can also conduct an analysis of your competitors and use the information to create a more effective branch and cash machine network.
MapBusinessOnline has been providing cost-effective mapping solutions for nearly 20 years. When you collaborate with our company, you’ll have peace of mind knowing that some of the world’s leading GIS experts compile the map data you receive and the features you turn to for your critical business intelligence. Register for our free, 1-month trial to get started - contact our team today!
"In a large company, with many layers of sales teams, sales management, territories, operations teams and distribution, it is vital to have a solution to quickly and easily display country and regional maps. I have tried multiple other mapping solutions in the past only to be frustrated by their limitations or by their complexity. MapBusinessOnline perfectly fits my need. MBO has the versatility to allow me to build somewhat complicated maps but also allows me to knock out the quick, one-off request. MBO continues to add features and I am excited to see what new features come out next."
Sr Business Analyst
A leading provider of automated storage and retrieval systems, Kardex Remstar has a multi-layered distribution network in North America. Mapping regional sales territories and sales districts using ZIP codes and states. Kardex Remstar tapped into MBO territory creation services to make the process quick and easy. Detailed ZIP code tables were converted by MapBusinessOnline into multiple maps describing their distribution network, sales coverage by customer segment, and product maps.
"The product is phenomenal and the support even better."
"Truly the easiest business mapping application I have ever used."
National Sales Manager