REDESIGN
CHURN
Industry
Financial Services / Banking
Client
Leading Multinational Bank
Consumer / B2C Banking
Challenge
How can we minimize customer churn?
Methods
Business Design
Design Thinking
Qualitative Research
Analytic Validation
Corporate Empathy
Project In a Nutshell
• Led by the Consumer Banking Group and CRM function
• Stakeholders included
- 1 Business Unit
- 2 Support Functions
• Qualitative research
- with 10+ existing customers
- with 10+ churn customers
• Synthesis
• A New Churn Tendency Model based on customer insights
- 4 categories
- 8 archetypes
• Analytical validation together with the CRM team
- several iterations
• Together with the project team, we developed robust initiatives
- to gain newly acquired customers
- to retain existing customers
- to minimize churn
• A holistic customer oriented churn management program is designed