A Terragni Caselet
Customer Engagement in the Premium Banking Segment
Business Outcome
Boosting customer acquisition
Industry
Banking
Platform
EAS, JUMP
Framework
Experiential Segmentation
Background
One of India’s top 3 banks was facing low customer engagement in the premium banking segment.
Insights
Customers utilized only core banking products, benefits of premium program were unclear
‘Onesize, 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
Increase in Wallet Share
Increased Customer Acquisition through recommendation
Increased Customer Retention
Reduced Cost of Service
