The financial services industry is known to be highly competitive and the majority of players whether Banks or other Financial institutions like Insurance etc. have difficulty to differentiate its products and services from competition. The CRM solutions are limited in managing high customer churn rate in this industry. It is important to introduce relevant loyalty program for proper segmented customer and give them targeted multi-channel communication without overdoing it.
- Limited differentiation from competition.
- No customer database in few.
Outcome / Result
- Introducing right Loyalty program
- Targeted multi-channel communication and campaigning
- Reward loyal behavior and reduce churn