Financial Services

Customer Experience

Phoenix clients in the Financial Services market are able to deliver advanced, effective sales and service programs that elevate their customer’s experience and maximize ROI. This desirable result is due to our unique position in the Financial Services market. We have a hands-on team of people with specific expertise in financial services, and the ability to speedily deliver quality information that is uniquely composed to solve client-specific problems.

We offer a suite of measurement techniques focused on gaining strategic insights about customers in the Financial Services market. Techniques range from ROI, driver-based, customer satisfaction business models to forward-looking customer acquisition, segmentation, and strategy programs.

Ultimately, each client receives a customized package of techniques and strategies, suited to best improving their customer service offering.

Phoenix Attitude and Usage Metrics

As markets change and end-consumers’ attitudes and behaviors evolve, it is important for marketers to...

As markets change and end-consumers’ attitudes and behaviors evolve, it is important for marketers to have a continual pulse on the marketplace in order to stay ahead of the curve in terms of maximizing business opportunity.  In support of our client’s needs, Phoenix provides ad-hoc and ongoing Attitudes and Usage (A&U) research programs for clients. Phoenix is highly skilled in conducting these programs/projects and understands the importance of sampling and questionnaire design in detection of shifting market trends. Stable balanced and representative sampling is critical, as is maintaining question batteries that allow the back-end analytics to focus on the in-depth understanding of the market and opportunity gaps that exist or that are widening. For many A&Us, Phoenix designs the questionnaire instrument(s) to allow for custom market segmentation, scoring of existing segments, root-cause analysis, needs/gap analysis, linking attitudes with behaviors, appending transactional/other third party data, and developing an understanding of how emotional factors are impacting the market.  Phoenix provides these results in easy to use reporting formats, including interactive reporting dashboard

Phoenix SatVal

Understanding loyalty and satisfaction is crucial in today’s business environment. Loyal customers will stay with...

Understanding loyalty and satisfaction is crucial in today’s business environment. Loyal customers will stay with preferred companies longer if they are satisfied. They will give more of their financial capital and become a source of positive marketing (word of mouth), which benefits organizations in attracting new customers. Growing loyalty among the right customers offers higher lifetime value on those clients and will help generate greater profits and market share.

True loyalty is defined both emotionally and behaviorally. Phoenix’s CVA (Customer Loyalty Value) takes satisfaction from customer tracking to true customer management. By connecting emotional and behavioral loyalty, CVA allows specific strategies to be developed to achieve maximum value. The results define strategies and financial targets for high value customers and identify low value customers for appropriate action.

Phoenix takes into account a holistic view of the customer experience, i.e. assessing the current customer experience, developing & testing new experience concepts, and tracking performance on delivering the in-market experience. Our integrated approach combines survey data which is fused with account data to allow for financial analysis of segments, households and products and understanding the key drivers impacting increases/decreases in satisfaction and loyalty on revenue.

You may currently have a satisfaction study in place, but are you really getting the most information out of the data? Are you truly taking the data as far as you can by marrying survey data, transactional data, and operational data and creating metrics that really drive your bottom line?

 

Phoenix Leaky Pipe Attrition Research

Phoenix’s Pathway methodology, also known as the “Leaky Pipe,” provides a deep understanding of lost...

Phoenix’s Pathway methodology, also known as the “Leaky Pipe,” provides a deep understanding of lost product potential and what can be done to convert that potential to increased business. The research provides the pathway through which a customer interaction flows, from the point of sale/purchase through all points of product fulfillment and service. This represents the “pipe” of business generation, while “leaks” in the pipe represent the factors that cause business to be lost (e.g., other brand preferred, switching, failure to meet customer needs, service failures). These leaks are quantified, and recommendations are made according to the size of the leaks and where they fall in the customer interaction flow so that action can be taken based on the relative cost and effort of plugging the leaks.

The research can answer a variety of questions, depending on specific needs.

  • Opportunity Assessment: measure the opportunities in the current market landscape and where focus should be placed for optimal uptake
  • Market Assessment: understand the current product/service fulfillment process, including the level of consideration your brand receives at each step
  • Product Growth and Market Extension: measure the impact of competition, including key competitors and other potential alternatives

Although the research is quantitative in nature, a qualitative, exploratory phase often precedes the quantitative phase to gather the appropriate information and ensure all potential “leaks” are included.

Phoenix Segmentation Models

While “actionability” is a challenge in any research or market planning endeavor, it is particularly...

While “actionability” is a challenge in any research or market planning endeavor, it is particularly demanding in market segmentation. What makes segmentation especially difficult is that the segmentation is often required to be a multi-purpose tool for the business. While the bases for segmenting a market are not necessarily mutually exclusive, they illustrate the classic marketing problem that, in choosing a segmentation solution, there is tension between strategy, tactical/design, and execution objectives. Since it is usually not practical for an organization to build and maintain different segmentation frameworks for different functions/business purposes, it is incumbent upon the marketing organization and its consultant partner to create a single framework that simultaneously supports the several most important applications for segmentation. Accomplishing this is challenging but definitely possible.