Challenge
Re-imagine the product and service experiences for customers, bankers and advisors to drive customer retention and revenue growth.
Increase customer retention by 40%, uplifting fee income $100m p.a.
Activate customer experience team to sustain and improve results in line with evolving customer expectations
Approach
“Simple, Valuable and Easy to Use”
Mapped and measured current state experience and performance
Defined experience strategy, target service design, digital roadmap and event-based marketing campaign
Developed prioritized solution backlog, mobilized cross-functional team and activated design and delivery flow, prototyping and scaling solutions to achieve the objectives and key results
Results
“$285M annualized revenue growth delivered from target state deployment”
Introduced new Customer Engagement Model and Digital Advice Platform
Increased retention over 50% in target customer segment
Uplifted digital experience (service quality) rating by 78%
Established Service Experience Hub, tracking to deliver over $1Bn of value
Final Thoughts
Achieved annual breakthrough goal within 9 months, driving decision to scale Customer Journey Lap to form the bank’s first Service Line “Experience Hub”
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