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Introducing new business Subcategory, like Royal Bank of Canada, can help you win markets


Royal Bank of Canada Introduced: “Canadian banking Experience in Florida”. Since its incorporation as a Canadian chartered bank in 1869, RBC has grown to become one of North America’s leading diversified financial services companies providing banking, wealth management, insurance and capital markets services on a global basis.
However, in thinking of its business in terms of customer segment,s rather than product segments, RBC  tagged each of its roughly 11 million clients and put them into meaningful segments, so that it can focus on measuring and managing the customer profitability, of each segment. In the process, RBC discovered a sizable subsegments of customers hidden within its broader categories of ” wealth preservers”, and “wealth accumulators”. “Dubbed Snowbirds” were individuals that spent number of months each winter in Florida, where they were experiencing difficulties, establishing credits, as well as missing their Canadian communities, particularly, the familiarity of the French-Canadian accent and fluency in French. In order to meet new unique needs, RBC created “Canadian banking Experience" in Florida. 

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