Case Study
A Regional Bank's "Customer Intimate" Strategy
Challenge
A regional bank that manages $1.73B in assets wanted to lead a "Customer Intimate" strategy, to gain a strategic understanding of its legacy and newly acquired customers and improve every day interactions while allowing for branch managers to take immediate action.
Approach
PeopleMetrics created and sent an annual deep-dive relationship survey to 90,000+ personal and banking customers to identify key drivers of customer experience.
PeopleMetrics also instituted an ongoing post-transactional survey program to ensure continuous improvement in NPS.
Outcome
PeopleMetrics was able to gain a deeper understanding of customers' decisions around banking, including preferred channels and products and services.
We also identified pain points in day-to-day interactions that could be resolved by taking immediate actions.
Our client used our findings to establish a baseline measure of their Net Promoter Score (NPS) across customers, as well as a segmentation strategy.
Branch managers also received real-time notifications, monitored feedback, and took action on individual customer interactions, resulting in continuous improvement of their NPS.
These improvements impacted business performance, increased growth, and reduced churn.
Additionally, feedback from newly acquired customers informed onboarding processes for future acquisitions.