Page 4: Customer characteristics
Financial Acorn was used to profile each branch in terms of existing and potential opportunities. Yorkshire Building Society was not surprised to find that branches varied considerably. For example, some branches had a high percentage of "comfortable investors", while others had a comparatively high percentage of "younger spenders". The profile found that there was a mix of all of the different customer classifications in each branch and that all branches contained each classification, to a greater or lesser extent.
This type of classification is very helpful in giving a view of the financial requirements of customers in different building society branches, in different parts of the country. For example, in some areas there are a larger number of people who have a greater potential to save and invest because they have surplus cash. In contrast, some areas have larger numbers of young, affluent, single people who borrow money to invest in property or lifestyle.