Case Summary
Business Outcome
Boosting Customer Acquisition
Industry
Banking
Platform Used
EAS, JUMP
Framework Used
Experiential Segmentation
Background
One of India’s top 3 banks was facing low customer engagement in the premium banking segment.
The Behaviour Insights
Customers utilized only core banking products, benefits of premium program were unclear.
‘One size, fit all’ customer onboarding process only addressed immediate needs, did not talk about potential contextual needs that the premium program could address.
High friction in touchpoints and loyalty program.
What We Did
Extension of customer segmentation to incorporate Experiential Segments
Onboarding process redesigned & differentiated for each experiential segment.
Redesign of loyalty program processes to drive ease of usage & redemption
Central digital concierge to drive customer engagement beyond RM.
The Outcome
Increased in Wallet Share.
Increased Customer Acquisition through recommendation.
Increased Customer Retention.
Reduced Cost of Service.
