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ANZ Bank: Customer Retention

Enhancing customer experience

WORK WITH US

CHALLENGE

Transform a traditional research study which lacked internal stakeholder support into a relevant, dynamic, and insightful account management tool—one the would ultimately enhance the customer experience.

SOLUTION

We transformed the existing program from being a ‘research study’ to a ‘business intelligence process’ that could be used to tangibly improve the customer experience and ROI by including share of wallet questions, business risk and growth measures.

IMPACT

86% retention.

Of 129 customers identified as ‘At Risk’ of leaving the bank, 86% were retained.

63%

63% those interviewed for the study asked for their Relationship Manager to contact them with regards to unmet product needs. This resulted in a revenue uplift of 18% amongst these customers.

55%

55% of customers who hadn’t been asked for a referral were prepared to offer new business referrals, this equated to 391 customers offering new business leads.