Russian bank Sberbank was looking for a way to fill its empty commercial premises.
But the company, which offers loans to small start-up retailers, was starkly aware of the instability of this market. Over 80% of new retailers don’t survive their first two years in business, which not only affects Sberbank’s revenue but the local communities too.
Sberbank Neighbourhoods was born – a project to fill the bank’s empty retail properties by determining the wants and needs of the local communities. Across these vacant spaces, the windows were used to display billboards asking people what businesses they would like to see there. We utilised qualitative research methods including mobile surveys, to dive deeper and find out exactly what they wanted; not just a coffee shop but what type of coffee shop?
We used geo-targeting to reach those within 500 metres of the locations, to ensure we were speaking to those who would be using the new businesses the most. This polling allowed us to build up a detailed database of consumer profiles focused on their motivations, behaviours and needs – invaluable when it came to the next step.
Sberbank Neighbourhoods successfully utilised consumer insights to prompt a sea change. Compared to traditional campaigns:
more customers took out business loans
as many small business responses