Rockland Trust is a full-service commercial bank offering a wide range of banking, investment, and insurance services to businesses and individuals in the Eastern Massachusetts and Rhode Island areas.
The firm faced several challenges that stood in the way of growth in diverse markets. Their immediate need was to identify diversified market opportunities within their current footprint. Long term, Rockland Trust sought to increase user experience in the identified diverse markets and recognized a need for market entry plans to engage with these audiences.
- Audit existing approaches and strategies
- Evaluate the market appeal of each diverse segment
- Prioritize potential market opportunities based on readiness and probability of success
- Develop actionable market entry plans
- Construct an internal, cross-functional D&I department
GVC was deeply immersed in the organization’s strategic planning review. By working alongside the client to understand their high value segments and growth plans, we were able to align with the proper strategic framework to ensure relevance and organizational impact.
GVC conducted a thorough market analysis to identify diverse consumer segments that would contribute to the bank’s revenue targets and profitability. Additional research and ideation then helped us identify the firm’s white space. Playing on the bank’s unique strengths and brand positioning, we were able to design engagement strategies to reach and satisfy the unmet needs in each segmented growth market.
The “Inclusion Lens” market approach GVC proposed to Rockland Trust was well received by employees and stakeholders alike.
Providing Rockland Trust with intelligent data and strategic frameworks enabled the firm to create a personal experience for consumers in diverse markets. This in turn enabled the firm to create profitable relationships with the diverse consumers they were once unable to reach. The result of this partnership is yet another example of how GVC combines data and analytics with D&I strategic approaches to deliver real, meaningful results.