We believe that our clients should have the data that is needed to understand their products' acceptability and potential profitability as soon as possible, and therefore advocate incremental research. It is more economical and effective to conduct surveys and analysis in small distinct steps than in large all-encompassing studies.
By segmenting the market, gathering and analyzing market information in layers, our clients can see the results as they are obtained. Our approach makes it possible for our clients to redirect or modify a survey while the costs are still minimal. This results in a clear understanding of the opportunity while saving time and money.
TSG surveys are conducted on a confidential basis or are for general industry use. For example, our annual Market Data Survey has become the standard by which data vendors' customer satisfaction is measured. This survey, published each March, is used by customers and vendors alike to improve the overall level of quality in the industry.
In the survey we contact the users of various market data products to determine how the users of these services rate their vendors' accuracy, reliability and coverage. The results are published in a supplement to our newsletter, Securities Operations Letter. Highly rated vendors receive awards at an annual ceremony in New York.
Today's evolving marketplace provides numerous product opportunities, and the changes in the available technology encourage the consideration of new delivery techniques. We help our clients capitalize on these trends and bring new products to market by conducting market research, competitive surveys, pricing analysis, and by defining the new product's entry strategy and delivery requirements.
We have assisted in developing and implementing numerous banking and securities products, including consolidated statements, cross-border settlement services, electronic interfaces and new delivery mechanisms.
Understanding competitors' positioning, products and strategies is essential to establishing a distinctive and successful business strategy.
We have assisted several of our clients by analyzing how industry trends and opportunities affect the general competition or a specific competitor, and have collected detailed information on competitors to help our clients increase their profitability.
Knowing your own results is important, but not nearly as important as knowing where your results are compared to rest of the industry. A benchmarking process can provide a neutral ground where competitors can share certain categories of information to their mutual advantage.
TSG has performed several benchmarking studies for our clients, and has helped these clients improve their products and processing, and introduce new products.
Surveys that are implemented for a specific client can only give one level of information about the market place. The establishment of a syndicate of survey sponsors and participants can result in industry benchmarks that will be useful to all of the participants.
In a benchmark syndicate, all of the participants receive annual evaluations of their results compared to the average results of the entire group. Detailed data is confidential for each participant.