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Session
Description:
The objective
of this presentation is to provide valuable insights to
financial institutions regarding key issues to consider to
build brands that are relevant, impactful and sustainable
over time, that appeal to foreign nationals today and as
they evolve, while remaining relevant to US domestic
segments.
The foreign national market has been rapidly growing in the
US. Based on its size (about 12% of the US population) and
evolution dynamics (as foreign nationals assimilate, many
progress economically and become more sophisticated
regarding financial services) the foreign national market
represents tremendous potential for financial institutions.
The financial services industry has reacted to this emerging
market in various ways. Many capabilities and resources have
been added – new products and services, new distribution
channels, language skills added to bank personnel, etc. In
some cases, entire banking operations have been created with
the language, look and feel, and other characteristics, that
the bank believes will most impact foreign national segments
they want to attract.
Are the current branding approaches developed to target
foreign nationals the right ones? Are some approaches going
too far and may alienate US domestic segments? Or, too short
and may not drive interest among foreign nationals? Or, are
some practices simply too shortsighted – suitable for a
specific segment based on its current state but not suitable
for such segment when it evolves? This presentation will
provide an assessment of current financial services branding
practices, market research insights on the foreign national
market, and our perspective on opportunities to enhance
financial services branding to impact foreign nationals in
the US.
The primary market research insights for this presentation
are based on a recent study we conducted of 875 consumer
interviews with US domestic consumers, foreign nationals
residing in the US, and foreigners residing abroad that
would consider establishing banking relationships in the US.
In addition, insights are derived from focus groups we have
conducted with foreign nationals and US domestic banking
consumers, and interviews we have conducted with industry
executives.
This
program is appropriate for senior
financial executives with responsibility
for Retail Banking, Multi-Cultural Marketing,
Diversity Marketing, Public Relations,
Market Research and Strategy Teams.
About Augusto Medelius:
Augusto Medelius is the Managing Director and founder of
Lever Partners, a consultancy dedicated to help businesses
realize their brand and market potential. Augusto has
developed branding and marketing solutions for various
leading financial institutions that include GE Money, RBC,
National City, MasterCard, Mercantil Commercebank, Toyota
Financial Services and others. Augusto has 17 years of
experience in financial services through senior roles at
leading marketing/branding consultancies and financial
institutions where he conducted market
research, segmentation, new product development, and image
and satisfaction studies in the retail banking, corporate
banking, credit cards, and investment services areas.
Fluent in Spanish
and Portuguese, and with conversational Italian, Augusto
holds an M.B.A. in marketing and international business from
the University of Florida and a B.S. in industrial
engineering from the Universidad de Lima (Peru).
About Lever
Partners:
While we are based in the US and do much of our work here,
we don't stop at the border. We are also able and
experienced abroad. Beyond the US, we have worked in the
Americas, Europe, Middle East and Asia. Beyond English, we
are fluent in Spanish, Portuguese and Italian. From New York
to Miami and Los Angeles, or, from Toronto to Sao Paulo,
London and Bombay, we go around!
It is all about making business better. Really. Building a
new brand based on strengths and aspirations that are not
unique doesn't cut it. Neither does enhancing a product
attribute while ignoring that the experience at the point of
sale is what really matters. Etcetera.
Prior to beginning the work, we engage in dialogue with our
clients to develop clarity concerning the need, context and
type of outcomes that will define success.
With our approach, we ensure that solutions we develop are
truly relevant and actionable, raise business potential, and
strengthen the client's position to reach a more compelling
future.
www.lever-partners.com
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