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Harris Bank

Improving The Customer Experience

Challenges

  • Intense competition in the Chicago retail market resulting in challenges in acquiring and expanding customer relationships
  • Higher cost deliver model made it difficult to compete to price
  • Lack of insight into customer needs and preferences – generally treated all customers as single homogenous group
  • Goal of differentiating retail bank and competing on the basis of superior customer experience

Approach

  • Leveraged internal and external data to develop attitudinal-based customer segmentation model which defined four discrete segments
  • Identified single segment – “Builder” segment – as target based on alignment with bank’s core value proposition and solution offerings
  • Conducted in-depth primary research into Builder segment to define needs, behaviors, preferences, and brand perceptions
  • Created customer experience that best matched the needs and expectations of the Builder segment which would deliver a differentiated banking experience to the target customer group.

Results

  • Deep insights into the needs, behaviors and preferences of target segment
  • Targeted, differentiated customer experience designed around target segment
  • Customer satisfaction scores improved to highest ranking of Midwest banks (JD Power) and highest Net Promoter Score of large Chicago banks

 

Case Study Harris Bank BuyWay

 

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