Engagement drivers for non-banking financial services

Case organization profile

  • One of India’s top-5 brokerage houses & financial services provider
  • A customer base extending beyond 700000
  • Pan-India sales & customer service network via 52 direct outlets as well as over 1000 franchise outlets
  • Widely awarded as “most admired”, “most preferred”, “most promising” brand by various industry bodies



  • Active customer base a percentage of the overall customer base. Customer activity & engagement stagnating
  • Price seen as the major decision driver for the consumer
  • Functional differentiation not sustainable within the industry, commoditization of offerings
  • Sources of competition (category) : integrated financial entities,  brokerage firms ,technology led platform vendors


Mandate to Terragni – the outside – in perspective

Uncover differing engagement drivers across customer segments to enable the case organization to sharpen its customer engagement strategy & tactics


Customer insights – strengths

  • Brand does its job of getting the customer in
  • Customer facing teams (sales & franchisees) go out of their way in their individual capacity to serve customers
  • Nation-wide scale of operations & presence

Above factors provided customers a sense of stability & reliability. Therefore they were seen as strong engagement drivers


Customer insights – opportunities

  • Case organization was delivering a standardized experience to all customers where as customers expected to be treated differently based on their relationship (age, value, relevance)
  • Case organization not seen as being pro-actively invested in its customers.
  • While brokerage is an important factor, high volume, high revenue customers (traders, corporates) were willing to pay for additional value and this they were currently getting from the competitors of the case organization



  • Four behavioural segments were identified & differential engagement drivers for each segment were provided
  • This is a strategic shift away from standard demographic, psychographic customer segmentation



  • Sales marketing and product initiatives now targetted to the behavioural segments
  • Loyalty program designed & rolled out around the behavioural segments identified resulting in
  • 15% increase in revenue from month 2 onwards
  • Elimination of wasteful expenditure on un-targetted mass initiatives/campaigns/products
  • Targetted salesperson capability building
  • Franchisee alignments