Robin Foote Featured at Piper Jaffray Symposium, Speaks on New Strategies to Win Market by Market

June 20, 2006

BOSTON – As market conditions continue to tighten, large retail banks must look to new strategies that optimize responsiveness and performance in each local market within their multi-state franchises, Robin Foote today told attendees at Piper Jaffray’s Retail and Financial Services Symposium.

A Managing Director at Novantas, Foote led a discussion on "Winning Market by Market: Innovation in Strategy and Management." Foote said winning retail banks will: 1) Concentrate firepower at the local level, optimizing performance in each market; 2) reinforce their position though distinctive value propositions that attract and hold targeted customers; and 3) sustain high performance through new management models.

Foote explained that branch footprints differ greatly in terms of intrinsic growth opportunities and realized share gains, with issues and opportunities that tend to go unnoticed and/or untended in highly standardized networks. Leaders will distinguish themselves by increasing their responsiveness to the unique requirements and opportunities in each major market they serve, Foote said, and by establishing a disciplined framework for managing the "portfolio" of regional market opportunities

An important corollary is to set goals, deploy resources and measure performance based on local market opportunity, instead of company-wide averages, Foote said, and to assure the right levels of local responsibility and empowerment.

Novantas is the acknowledged leader in customer science and revenue strategy for the financial industries. The Firm specializes in applying advanced analytics and technologies to help clients make better decisions in marketing, product, pricing, customer management, and distribution.