A Terragni Case Study Driving Digital Adoption for Improved Customer Engagement TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL Client Background Challenge Objective What We Did Samples Strengths Opportunities Solutions Business Outcomes 5th Largest bank in Asia Customers pan India Branches 3120 6 Lac+ 56084 Employees
TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL Client Background Challenge Objective What We Did Samples Strengths Opportunities Solutions Business Outcomes Driving Digital Adoption for Customer Engagement Weak adoption of digital touchpoints for regular banking processes High cost of customer service via physical channels (branches, contact centre) Customer dissatisfaction with digital touchpoints detracting from overall customer experience with the institution
Client Background Challenge Objective What We Did Samples Strengths Opportunities Solutions Business Outcomes Uncovering barriers to digital adoption Identifying the behavioural and emotional barriers to digital channel Identifying the friction in the digital journey TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
Client Background Challenge Objective What We Did Samples Strengths Opportunities Solutions Business Outcomes Framework TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL 1 2 3 Purposively sampled In-depth Customer Interaction Sample Qualitative Insights Quantitative Analysis of business transaction data Widespan (online) neuroscience-based assessment Quantitative Insights Consumer Neuroscience Based Widespan Assessment
Client Background Challenge Objective What We Did Samples Strengths Opportunities Solutions Business Outcomes TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL EAS assesses effort at two levels: Level I – The score indicates how easy the customer found it to engage with the Brand/ Organization/Product/Service across the entire engagement cycle broken down to each phase of it. Level II – At this level the score indicates how easy the customer found it to engage with a specific Process within a given phase of the engagement cycle. Declarative assessment Measures transactional Customer Effort for the following dimensions: Time, Physical, Cognitive. The Score Scoring is weighted based on relative importance attributed by the customer to the four components of Effort: Time, Physical Effort, Cognitive Effort, Emotional Effort. The Score integrates implicit testing responses and qualitative declarative answers. Non-declarative assessment Focused on eliciting emotional associations and emotional components of effort for two dimensions: Emotional and Cognitive.
Client Background Challenge Objective What We Did Samples Strengths Opportunities Solutions Business Outcomes TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
Client Background Challenge Objective What We Did Samples Strengths Opportunities Solutions Business Outcomes TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
Client Background Challenge Objective What We Did Samples Strengths Opportunities Solutions Business Outcomes TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
Logged in using Mpin Wanted to transfer funds. Found the option on the bottom menu after searching for 2-3 seconds Searched for “Add Payee” option . Filled the new payee’s basic details Prompted by tester perhaps to fill all fields Entered Mpin, 8 digit activation code sent via SMS. Payee added successfully. Filled transaction details. Added payment purpose in “Remarks” “Success” message comes once transfer is done. Confirmation of fund transfer through SMS. Message received after 5 minutes Why is it taking so long? Is something wrong? Where’s the option? They should give it upfront since it’s commonly used by people. Put the menu on top so it’s easily visible Where do I add new payee? Why am I unable to add payee here Hope what is provided is right Why don’t they mention which field is necessary and which is not? Activation code needs to be entered in 30 seconds. Need more time! What happens if it takes more than 30 seconds? “Remark” is a good option to remember what the transaction was for later on Why hasn’t the confirmation message come yet? Payee did not get any message. Why was mobile number and payee email required? Wonder if the money is actually transferred? Why does it take so long for a confirmation to come? It should happen instantly Anxious Worried Helpless Helpless Worried Unhappy Stressed Curious Anxious Unhappy Peak 1 Friction Information asymmetry Cognitive load Peak 2 Hard- Easy Effect Recency effect Peak 3 Friction End Key Actions Thoughts Emotions Behavioural Heuristics TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL Money Anxiety Empathy Gap
Client Background Challenge Objective What We Did Samples Strengths Opportunities Solutions Business Outcomes High Effectiveness of the physical branch Seen as stress reducing Strong Relationship Manager support when users face problems, they reach out to the RMs TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
Client Background Challenge Objective What We Did Samples Strengths Opportunities Solutions Business Outcomes High cognitive effort on the digital channels detracting from adoption and customer engagement Mobile and internet platforms inconsistent, complex to use and perceived as unreliable, thus detracting from adoption & customer experience TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
Client Background Challenge What We Did Samples Strengths Opportunities Solutions Business Outcomes Effort/Friction assessment to uncover areas of high physical, time and cognitive effort as experienced by the customers Usability testing on high effort processes to address areas of customer pain Process redesign Blueprints to enable the bank to deliver a simple, easy consistent and dependable usage experience Optimization and elimination of touchpoints that are detractors of customer ease and customer experience TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
Client Background Challenge What We Did Samples Strengths Opportunities Solutions Business Outcomes ⬇Reduction In Cost to Serve ⬆Higher Digital Adoption Improvement In Customer Experience Index Improvement In NPS TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
India London Bucharest www.terragni.in www.buyerbrain.com TERRAGNI CONSULTING (P) LTD PRIVATE AND CONFIDENTIAL
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