FinancialServiceCo is an established credit card and financial services provider. The company faced increased competition and an increasingly penetrated market. It wanted to sell a new financial services product to a fixed customer base and limit its competitors' share of wallet.
However, FinancialServiceCo did not know which customers were the best targets for cross-selling the new financial services product.
The company asked Bain to address four key questions.
- Which customer segments would prove most profitable for their new product?
- How can the segments be identified and evaluated?
- What will the profitability be by customer group?
- What revenue stream overlaps should FinancialServiceCo consider?