Kutxabank KORNER. Estudio de posicionamiento segmento joven | IKERFEL

We contributed qualitative research to repositioning the strategy for the youth segment. To do so, we analyzed the demands of this group and then defined the product and service offerings and adapted them to their needs.

The study’s main objective was to bring Kutxabank closer to the reality of young people from a sociological perspective, investigating the aspects, themes, and perspectives that interest them, motivate them, and attract them, as well as their perception of their current and future concerns.

In addition to this sociological perspective, it focused on aspects related to financial matters:

Needs and spending and saving habits.
Life cycle of their interaction with financial institutions.
Moments of truth in the young person-bank relationship.
Prescription and driving factors for selecting a financial institution.

Logically, the digital dimension was important in a study where the respondents felt like “digital natives far removed from financial institutions.”

Based on this context, the ideal image of a financial institution was explored; the objective was to design that ideal institution, one they would like to be customers of. The ideal entity would have to define:

How to communicate with young people
What style and tone of communication to adopt
What products and services to offer in the financial field and other areas of interest to young people
The role of personal relationships

This is…

…the design of a new relationship model with the young segment, a way of understanding finance from the perspective of young people.

unas manos sobre una pizarra sobre la que se colocan papeles adhesivos de colores en los que se indican ideas y conceptos

Applied Methodology.

This project had different phases and methodological scopes, the most notable being the prospective phase, in which a qualitative study was designed using different data collection techniques.

Qualitative Focus Groups.
World Café with groups of 4-6 participants.

Work subphases.

Thus, within this phase of deepening and prospecting, several sub-phases of work were structured:

Qualitative deepening phase. Focus Groups were developed in different urban areas. Groups were segmented not only by geographic location but also by variables such as age, educational and occupational status, income, and independence.
Analysis and proposal definition phase. After analyzing the information gathered in the Group Dynamics and the reflections of the Kutxabank-Ikerfel team, a series of conceptual axes were established to be built and tested.
Conclusions phase. For this final phase, the World Café technique was selected. It is a structured conversation methodology that simulates an informal setting, like a coffee shop with friends, where participants discuss predefined topics at small tables. From time to time, participants rotate tables, bringing ideas with them and building on previous conversations.

This methodological approach allowed us to explore diverse perspectives, identify patterns, and build collective knowledge about our objective: the ideal financial institution and the new model of relationship with young people.

Conclusions.

The study’s findings allowed for a better understanding of young people’s needs and demands, addressing them through personalized offerings, and designing strategic communication plans to convey them.

The study’s objectives and expectations were largely met, and operational conclusions were provided regarding Kutxabank’s new positioning with respect to young people. This was practically implemented through the Kutxabank Korner program.

This study provided Kutxabank with a wealth of information not only for designing its strategy but also for communicating its listening process to young people.

The following links show the results of this project:

Kuxabank Korner

World Café

The Power Revolution