Case Study - customer loyalty and retention. Financial Services Provider


		home > case studies Case Study 1: Financial Services Provider Issue: Reduce costs but retain customers. Which products or services should be cut? Background: There were three delivery channels; intermediaries, the web, and direct sales. Specific information about customer interaction was restricted through the intermediaries, but 'the web' and direct channels provided accessible interaction data. Solution: A matrix of value, positioning all products and services comparing 'whole cost', revenue and profitability with popularity and customer value. Products and services were aligned with customers' interaction scenarios built through market analysis and customer interview. The 'web service' was used as a proxy data source to project trends for product use, popularity and service relevance. Customer interviews revealed that most existing customers actively used the 'web services'. This provided the necessary customer insight to profile behaviours, product and service interaction. Other existing sales data, product and service cost were used to augment the analysis. This provided a 'rich picture' illustrating the balances between cost efficiency and customer value. Strategies for rationalisation were agreed that reduced delivery cost, improved customer value and profitability. Business benefit: This work formed the basis for a cost efficiency versus value model using 'whole cost - profitability' analysis and 'Customer time to value'. It was instrumental in building the new product architecture, optimising cost and customer value. The business benefit was to cut costs significantly without any loss of value to customers Ť back home next ť		Case Studies: Financial services provider IT solutions company Global IT company International manufacturer Global financial solutions Ť home
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