E-mail | 954-989-2425

Client Case
Converting Complainers to More Profitable Customers

Picture
 
The best customers are not always the most friendly. They can be the biggest complainers but are often the most profitable. Hidden behind their complaints are some of the valuable information that drives higher profitability.

The issue is how does one engage them to turn complaints into more purchases?

Vaxa's work transformed the customer experience for our client.
  • the PROBLEM
  • discovery
  • Results

Tab Content One

BankInc. relationship with its most profitable customers was good as it was bad. Customers who used multiple lines of business were generating a disproportionate levels of revenues and margins. However, they were also creating the largest number of service complaints. In some ways, this is expected since more interactions create more opportunities to exceed or disappoint customer expectations. Unfortunately, the latter was more true.

Customers who use multiple banking services accounted for about 15% of all customers but spawned 58% of all grievances. So the bank's own success created a problem that had to be addressed in order to keep these important customers over the long run and expand its ranks.

Tab Content Two

Vaxa went to the heart of the problem doing a analyzing the complaints database and engaging with customers. Key questions our research aimed to answer:
  • What was the source of the complaints?
  • How do the volume of complaints vary by source?
  • What role did the staff play in generating the complaints?
  • What was the relationship between lines of service and complaints.

Click on the images below to scroll through what we did.

Tab Content Three

What we recommended?

  • BankInc. needs to project and create a customer mindset of:

    BankInc. wants lifetime customers that satisfies and exceeds all their financial needs. Customers will implicitly trust us with all their financial needs and will recommend BankInc. to their friends.
The following are three pillars on which this recommendation was based and some of the key elements of what we wanted to improve in both the customers' mind and how BankInc. processes.
How can we help you?

To discuss how our team at Vaxa can help your business achieve true and sustainable growth results, please

Contact us.
Taking a potentially disastrous customer situation and turning it into a long term sustainable strategy that that focuses attention on the customer experience and future profitability of the company.
Proudly powered by Weebly
Vaxa Inc. © 1998-2020 All Rights Reserved

CONNECT WITH US