Concurrential context

Services’ category

To be able to determine our positioning we must first describe the concurrential context in which the bank is, by determining the category of the bank’s services and what targeting we made based on our segmentation. Our second step was to find the similarities and the differences Nagelmackers has with its competitors.
The concurrential context around Nagelmackers is composed of private banks who are thus offering asset and wealth management as well as daily banking services and inheritance management. However, each bank has its own target and positioning, creating a great deal of differentiation in the eyes of the customer.

Targeting

As we have just explained, our target is made of two main segments that are quite different but have a similar need : a strong relationship with their personal advisor. The Elite ones in order to get enough information about their asset management and the balanced ones in order to be able to trust their bank.

Differences and similarities

Similarities

As the other private banks on the market, Nagelmackers tries to offer transparency to its clients, a personalised service based on the investor profile. Nagelmackers also has common points with the universal banks. Indeed Nagelmackers offers almost the same range of services on the retail market as the universal banks such as BNP, ING, etc.

Differentiation points

Compared to the other private banks in Belgium, Nagelmackers offers a larger range of services to its clients than its competitors. These retail services in the category of private banking are going together with services for SMEs.
On its way to address the client's needs, Nagelmakers is the only bank in Belgium who gives so much attention on creating a long term dynamic relationship and on realising the client’s projects and dreams.
These major differences are expressed in the following graph where the number of retail services the bank is offering is function of the strength of the relationship between the client and its personal banker.

As we can see the fact that Nagelmackers offers a large range of services and at the same time a strong relationship with its client makes it a unique bank in his competitive environment.

Positioning

In consequence Nagelmackers is a private bank close to its customers, willing to follow them in their daily life as well as helping them to realise their projects and their dreams. This is done thanks to a large range of services as diversified as complete, brought to the customer by personal bankers that have passed the Nagelmackers Academy and share the values of Nagelmackers ; which is a guarantee of quality and expertise of the Nagelmackers’ personal bankers.
Moreover given the fact  most of Nagelmackers’ clients are composed by a relatively old population, Nagelmackers must insist on its quality and efficiency regarding inheritance management.

Finally, Nagelmackers also has to insist on its trustworthy and sustainable side, and will therefore mention its familial origin and history.