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Retention

Driving Customer Retention

  • Outcomes

Four distinct experiential segments identified.

Each with four different contexts, needs & positioning.

Offering, communication & technology deployment for each of these segments was redefined.

The redefined customer engagement platform delivered a close to 30% increase in customer retention.

  • Industry

Financial services; one of India’s largest financial services groups, B2C & B2B2C.

  • Problem

Low switching barriers for existing customers.

Commoditized environment & a close to 80% dormant customer base.

  • Tools

Terragni experience score

Terragni experience grid

Experiential segmentation

Driving Reduction In Cost Of Service

  • Outcomes

The Effort Assessment platform defined the points of friction in the customer journey & the areas of repeated physical intervention.

The journey was redesigned with a focus on the peak-end-rule.

As an example, the loan approval process went down from 5 days to one and a half-day.

  • Industry

Banking; one of the India’s top 5 banks, B2C.

  • Problem

Lending is a commoditized environment and margins are thin. Therefore, the cost of service is an important contributor to the bottom line. This cost of servicing each client was creating a negative impact on margins and customer acquisition costs.

  • Tools

Customer Journey Mapping

Learn About Sludge Audit Framework

Driving Loyalty Program Engagement

  • Outcomes

4 experiential segments amongst the very HNI were defined.

The loyalty program was redesigned towards contextual experiential benefits as opposed to only points & products.

Friction was eliminated in the loyalty journey.

Elements of positive surprise and motivation built in the journey.

  • Industry

Banking; One of the India’s top 5 banks, B2C.

  • Problem

Creating higher engagement with very HNI individuals and families for cross-selling and up-sell opportunities.

To increase wallet share from such HNIs.

To encourage the gen-next of the HNIs to engage with the bank.

  • Tools

Experiential segmentation

Effort Assessment Score

Elimination of friction & the redesigning of motivation

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