Large Regional Bank

A large and growing Regional Bank wanted to refine a premium relationship banking concept that could do more than reward loyalty. The bank sought to understand how to increase consideration among prospective customers, motivate switching from competing financial institutions, and strengthen relevance among existing customers.

To do so, it needed a deeper understanding of priority segments focused on affluent and core consumers, including what would make them view the bank as a compelling alternative to larger competitors.

The client also wanted to determine how key products and service line benefits could work together to drive both acquisition and long-term loyalty.

Heart+Mind Strategies designed a multi-phase qualitative co-creation research program that engaged four target segments across key U.S. markets. Participants evaluated a premium experience concept through online mini focus groups, helping identify unmet needs, pain points, and decision drivers. Findings informed internal ideation and concept refinement before a second wave of co-creation sessions tested revised program structures, loyalty models, rewards, advisor-led services, and community-oriented benefits.

This iterative approach enabled the client to understand not only what customers valued, but what would be powerful enough to influence consideration and prompt switching behavior.