Fortune 100 Financial Company: Expansion of U.S. Marketshare
Ichor assisted a fintech company engage influencers in local communities to ensure its approach to inclusive growth was properly aligned with its unique needs and challenges.
The Problem
Our client deployed a global inclusive growth strategy in developing economies to expand its customer base and bring electronic payment capabilities to more merchants. However, they had not fully captured the same inclusive growth opportunity in the U.S. while their main competitor had been making advancements, building upon a significant financial commitment to the issue for several years.
Losing market share was not an option; our client had to compete. They needed to better understand the barriers to financial inclusion in key U.S. markets and then identify the best ways to leverage their existing assets – data, technology, expertise, and philanthropy – to make an impact in the financial inclusion space.
The Solution
In concert with senior executives, Ichor led a campaign in five high priority cities to bolster the client as a leader in financial inclusion in the U.S., build capacity for future initiatives, and grow revenue. The campaign drove awareness and participation through panel discussions, thought leadership activities, and digital content production, including blogs, editorials, social media posts, and communications support. The campaign led to beneficial operational changes for the client through building internal capacity for research and strategic planning needs.
Ichor also developed a governance model for the client’s grantmaking needs, providing recommendations on the client’s approach to grant allocations and initiatives to drive deeper adoption of its payments platform. Ichor built a dashboard that monitored metrics, including spending, impact, and progress against goals so our client could track progress.
With a deeper understanding of the path to capturing market share, our client was able to put a more informed long-term commercial strategy in place, sharpen its impact programs to increase merchant acceptance of electronic payments and increasing its competitive advantage of a strong network, and bring more options to the underbanked.
Ichor helped a telecommunications client better understand the landscape of dozens of markets across the country and enable effective collaboration with local governments and communities.
Ichor developed an equitable, inclusive strategy during the COVID-19 outbreak that led to establishing trust within Black and Latinx communities and the formation of hyperlocal partnerships, which in turn, helped the client expand its market share in these communities.
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