A tailored approach to business development | KPMG | CA
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A tailored approach to business development

A tailored approach to business development

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For over 70 years, the Business Development Bank of Canada (BDC) has nurtured entrepreneurs throughout the country by providing financial guidance, advisory services, and capital backing. In 2016, the Crown Corporation recognized that in order to sustain a high level of support for its small- and medium-sized businesses – and enhance its value added support for all clients – it would need to go to market with a more tailored approach.

This was the motivation behind BDC's move to pursue stronger customer segmentation to create a greater value proposition for Canada's up-and-coming business leaders. To begin, it partnered with KPMG in Canada's team of financial and data analytics (D&A) consultants to comb through BDC's data and reveal four core customer segments (aka "personas"). Then, the team developed methodologies that would lead to a new segmentation model – work that would go on to inspire design plans for each of the four identified segments. After some internal fine-tuning, BDC went to market with two of those segment plans in April 2017, saving the final two for its 2018 fiscal year.

By leveraging years of BDC's data, the corporation was able to find out what made its newfound personas tick and how it could tweak its operations and service delivery strategies to better reflect their needs. Today, BDC continues to build on those insights while growing its industry reputation and fueling the success of its entrepreneurial clients.

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