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Understand Your Competition with Digital Hives Online Communities

Our client, a premier brokerage firm, was perplexed as to why one of its key rivals had surpassed them in gaining the attention of their desired target market for advisory services. At the same time, they wanted to better understand how their brand was perceived by others in order to identify areas of opportunity for growth.

What we did:

Big Village established a short-term Digital Hive of advisory clients from five top competitors, including the client, and explored how people think about advisors, their decision journeys, experiences, and perceptions of brands. We then invited clients of the winning competitor and the client to complete in-depth interviews (IDIs) and explore their specific experiences.

The result:

By accurately pinpointing the specific elements of their competitor that clients found attractive, and gauging how they themselves were perceived in those areas, the client was able to gain valuable insight into their own offerings. The team was able to illustrate their success by featuring competitors’ clients who sang praises of their service, leaving a deep impression on the company’s internal leaders. This enabled them to gain valuable insights into where they should invest next and how customers already viewed them in the market.