By Jay-E Emmingham, Marketing Director
The 2015 Growth Strategy Survey reports that 22% of financial institution respondents have plans to grow in the coming year through new branches and 17% through branch acquisitions. A top question on a CEO’s mind is often where to locate a new branch to capture their target market. Through our experience working with financial institutions’ leadership teams, we have identified four key components of a well-planned market analysis that present a roadmap for optimal growth.
The results of the market analysis provide specific recommendations on where to optimally locate new branches over the next 3-5 years. To further maximize benefits of the report findings, your financial institution should also integrate these findings into an overall market expansion strategy for future mergers and acquisitions.
Also, check out our tips on being market smart while optimizing your branch network.