Numerous industry surveys indicate that as the digitisation of financial services continues, customer churn increases as customers shop online for great deals, and drive a race to the bottom on price. This appears to be contrasted by consumers wanting more frequent, meaningful and personalized communications and relationships. An increasingly popular approach to move one’s business away from price and towards a more loyal and meaningful relationship is to move towards the adjacent activities; the things that occur around the transaction. With this context in mind treating the customer as a player and the journey as a game becomes a highly powerful tool for reframing the problem and therefore the solution.
Numerous industry surveys indicate that as the digitisation of financial services continues, customer churn increases as customers shop online for great deals, and drive a race to the bottom on price. This appears to be contrasted by consumers wanting more frequent, meaningful and personalized communications and relationships. An increasingly popular approach to move one’s business away from price and towards a more loyal and meaningful relationship is to move towards the adjacent activities; the things that occur around the transaction. With this context in mind treating the customer as a player and the journey as a game becomes a highly powerful tool for reframing the problem and therefore the solution.