The Financial Brand Insights - Fall 2022 Article - Flipbook - Page 5
Figure 2
Market of Interest and optimal Trade Areas for branch deployment.
answers to the questions you have about your
current and future business opportunities.
It has been proven that actionable data
increases revenue, reduces expenses, improves
efficiency, increases the understanding of
your customer/member needs and more. The
Redmond Company’s Consulting Division partners
with banks and credit unions to evaluate the
Market of Interest to determine the optimal Trade
Areas, Area of Influences, and Sites to maximize
our client’s growth and profitability. (Figure 2)
The top map illustrates the Market of Interest
and lower map illustrates the optimal Trade Areas
for branch deployment.
Understanding Your Strategic
Business Objectives
Questions financial institutions turn to Redmond
to answer:
• What are the demographic and psychographic
characteristics of my most profitable
customers/members?
• In what Trade Areas do our most profitable
customers/members reside?
• Based on the business model of the bank/credit
union and customer/member characteristics,
what Trade Areas offer the greatest financial
potential and why?
THE FINANCIAL BRAND INSIGHTS
FALL 2022
58
