How website functionalities were used to achieve customer upgrades
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How website functionalities were used to achieve customer upgrades
All retail banks look to upgrade their customers in a bid to encourage loyalty and strengthen the relationship. Cross-selling or upselling products and services is a major part if this exercise. Understandably customers have become vary of this and are often reluctant to upgrade.
This Leading International Retail Finance Company (LIRFC) faced a similar challenge while attempting an upgrade of its customers: How could it meaningfully upgrade its customers in a way that matched the upgrades with the customers’ expectations. Especially since at the best of times and even under the most attractive terms, upgrades are a high-inertia decision.
The LIRFC linked specific upgrades to specific tangible benefits. This enabled customers to clearly visualise what benefits accrued to them, and they were then better able to make an informed decision about the upgrade. To further assist them, an online calculator helped focus customers’ attention on the financial benefits of the upgrade.
* Contractual obligations preclude us from sharing more details.
