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Case Studies 7 & 8
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Create effective customer segmentation programs
The Challenge: This consumer brokerage division desired meaningful management intelligence on their most profitable customers, their behaviors, desired services/experience and expectations in terms of products and business reward programs relative to competitively available programs.
The Solution: While employed by this discount brokerage, introduced an enterprise initiative to develop firm-wide understanding of the top 10% most valuable customers in terms of profitability, attitude, trading and borrowing behavior and service expectations. The learning gained from this research informed development of customer segmentation programs that provide ongoing customer intelligence, tailored offerings based on the need of active traders, complex instrument traders, and heavy margin users, and a reward program that continually engages and entrenches these highly-profitable customers.
The Results: Dramatically improved client satisfaction scores (particularly among the heaviest traders), improved client tenure and outside asset capture from existing clients. Overall profitability on all key client dimensions has shown dramatic improvement as a result of the preferred client services programs.
Innovative multi-channel customer experience and brand definition
The Challenge: Entering a crowded individual investor marketplace seeking to capture IRA rollover assets without the benefit of an established consumer investing brand.
The Solution: While employed by this provider, developed a highly creative human-centered approach to investing that would begin with the individual in the context of their 401K investing experience. Focusing on the individuals’ personal passions, retirement aspirations and life-goals. Create a highly differentiated experience that transcended the 401K to retail investing relationships and remained constant across web, phone and in-person channels.
The results: A highly-differentiated experience that is in the process of being introduced to-market presently.
© 2005, Verve Partners
617-699-4362 sueb@vervepartners.com
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