Although electronic channels show great potential for delivering information and advice to an eager small business audience, the branch channel must become much more than a place to conduct paper-based payments.
Boston, MA (PRWEB) January 18, 2017
The most common branch interactions of small business decision makers are transactional, creating an advisory interaction opportunity that may be missed. The convenience of online delivery, or lack of appropriate specialist staff in the branch, may mean the branch channel is bypassed for higher-level interactions.
Mercator Advisory Group’s latest research note, Small Business, Branches, and PFM: Missed Opportunities, examines the branch activities among small businesses in the United States, and contrasts these interactions with their expressed interests in advice and information.
“Our survey results suggest automated and consultative advisory opportunities with these businesses, but probably not in today’s branches of banks or credit unions. Although electronic channels show great potential for delivering information and advice to an eager small business audience, the branch channel must become much more than a place to conduct paper-based payments,” comments Ken Paterson, Vice President of Research Operations at Mercator Advisory Group and author of the research note.
Highlights of the research note include:
- Common branch activities of small businesses
- Use of online and mobile banking services
- Interest in advisory and business information services provided online
- Interest in online banking features and capabilities
- Challenges to fulfillment of added value advisory and information services
This report has 9 pages and 3 exhibits.
Members of Mercator Advisory Group’s Customer Interaction Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
For more information and media inquiries, please call Mercator Advisory Group's main line: (781) 419-1700, send email to media(at)mercatoradvisorygroup(dot)com.
For free industry news, opinions, research, company information and more visit us at http://www.PaymentsJournal.com.
Follow us on Twitter @ http://twitter.com/MercatorAdvisor.
About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com