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Evaluation of Strategic Expansion Possibilities

Challenge

A regional economic development company had an opportunity to expand their service area for small business micro-loans. To ensure the success of the possible expansion, a better understanding was needed of local market demands, competitive factors, business systems and target marketing.

Actions

  • Leveraged DataKey and client contacts to conduct extensive primary interviews with VIPs familiar with the small business environment and business networks in the expansion area.
  • Accumulated data-centric secondary market research to assess potential gaps in small business lending and the socio-economic conditions in the area.
  • Thoroughly processed and analyzed the information collected to develop realistic, concrete recommendations for expansion.

Results

  • Designed an expansion strategy for near-term and long-term, including immediate resources and contacts for the company.
  • Recommended clarified market positioning and a network of strategic partnerships that would rapidly accelerate the expansion plans.

"DataKey delivered more than we expected. Not only did they give us clear, concise and accurate directions for the future, they promoted our business and clarified our messaging along the way."

- Executive Director of Small Business Lending

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