Background

Western Union provides global consumer-to-consumer money transfer services, largely to migrant workers, across the world. It wanted to examine the buying characteristics and habits of money transfer shoppers to further develop and build its business.

Brief

To better understand buying characteristics and habits of money transfer shoppers and to be able to quantify drivers of value. To understand customer segmentation and what influences customers making money transfer choices.

Clear Thinking

Through careful analysis of data from Western Unions money transfer records, key migrant groups were identified. From these migrant corridors research was undertaken by Madano to understand demographic trends across the UK, fully understand where major migrant communities resided and areas of high levels of money transfer usage.

Through in-depth research on migrant trends and focus group sessions, Madano tracked the key drivers within each community for making decisions on money transfer and their customer experience.

Outcome

• Robust set of analysis and data to demonstrate to potential new franchisees the value and contribution made by WU money transfer to businesses.
• Conducted focus groups in four migrant communities in London and Birmingham.
• Designed and constructed in-store questionnaire.
• Undertook quantitative study of 161 participants in four related vertical sectors.
• Produced detailed analysis of key attributes and drivers of value.
• Developed sales and communications material to show value of this type of business to WU.