How Logica® helped a large B2B payments provider refine its product to drive acquisition

Logica’s deep understanding of the financial services landscape means we can take our research insights for clients to the next level.  And, our experience in financial services and fintech product research means a more successful project for you–freeing up your time to focus on your job and providing you the insights and action items to move your product forward. We will immerse ourselves in your product and customers.  In the B2B space, it’s particularly important that you reach the right people in your research and ask the right questions. We do that. Logica’s financial industry experience helps you build an approach that works. Here we examine a product development case study in B2B payments. 


Case Study: Product Development Opportunity

The payments space is highly competitive and constantly evolving. When a large B2B payments provider wanted to assess the strength of its mid-market product to discover how well it resonated with companies of different sizes, they chose Logica® as their research partner. To launch new products or services, or enhance and update existing ones, it is essential to gather insights on how these changes will impact target B2B audiences. Using the right market research, insights can be gathered to make sure products resonate with customer needs and desires.


Product Development Solution

Logica® worked with the B2B payments firm to design a detailed research study that identified customer needs and jobs to be done, as well the emotional and functional benefits of the products. In order to effectively help our client, Logica(R) built clear customer personas using the insights gathered. This market segmentation and persona identification allows a deep—and personal—understanding of the target customer for the product being developed and launched. Our approach allows for highly specific recommendations to be shared on how to best meet the needs of each persona representing the B2B audience segments.


Product Development Impact

The insights from this B2B product development research for the payments provider enabled the team to uncover interest in multiple products. The research also gave the information needed to determine how to prioritize existing B2B products and develop new B2B products through insights into each vendor segment. The personas for each segment contained useful and actionable data on pain points, feature needs and firmographics. These insights were also used to inform marketing programs and target the identified segments for specific product upsell and cross-sell opportunities, paving the way to grow the customer base.


Product Development Research for B2B Financial Companies

Choosing the right partner for product development studies in the B2B space is essential. Logica has the relevant financial industry research experience, the right product development methodology experience, and customization flexibility to meet the ultimate needs of the study. Reach out to us to see how you can make your next product development study work harder for you!

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