Effect of Customer Experience in Business and Financial Assignment

Assignment Task

Case Study

Maximizing Customer Engagement through Financial Product Synergy

Challenges:

Product Portfolio Analysis

• What products are often possessed together?
• What products are possessed by groups of similar customers?
• Mail Response Analysis
• What differentiates customers that respond from those that don’t?
• How likely is a certain customer to respond?

Detailed Introduction:

In financial services, new opportunities for cross-selling are created by a variety of circumstances:

• Mergers are largely motivated by the need for broader product and customer coverage;
• Enterprise-wide data warehouses are more commonplace and allow the consolidation of customer data; and
• Decreased customer loyalty increases the requirement to retain and maximize the potential of profitable customers. Cross-selling is an integral part of this process

Goal

Product Portfolio Analysis

Branch offices or call centers to get lists of customers for each product Or: when dealing with a customer this individual’s gaps in the portfolio are highlighted on the screen

Mail Response Analysis

Apply score code, extract customers to mail to, record actual responses

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