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Case Study |
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Customer growth for a leading bank |
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Shubha N. Janardhan |
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Prof. S. Mohan Kumar |
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Overview: |
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One of the nation’s leading bank’s hired Haselfrë to help with a specific customer growth strategy pertinent for the emerging Indian market. On this issue, nurturing the already existing customers to yield more is key by offering them new products and services. It was crucial to understand how to grow these customers to create a new market. |
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The Problem: |
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For years, the bank has been relying on its existing worldwide brand to grow the already existing customers. Customer satisfaction had decreased and the bank was finding out that its highest yielders were slowly but surely declining. |
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Strategic Recommendation: |
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Haselfrë’s assignment was to engage the senior management (C Level) at the bank to understand how they could not only keep the existing customers, but also grow them to potentially create a new market. Key elements of the program included: |
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Program Elements: |
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- Identify segments of the bank’s high yield customers that were not decreasing.
- Create a plan to reverse the decrease and increase it.
- Implement the plan to handhold the bank for results.
- Identify potential new services and products that will help the bank create a new market with the existing customers.
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Results: |
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Haselfrë’s efforts to grow the existing customers that were leaving. The team was able to help the bank create a new market segment from existing customers. |
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About the Key Professionals:
Shubha N. Janardhan is the Chief Operating Officer of Haselfrë Solutions.
Prof. S. Mohan Kumar is a principal at the Haselfrë Office.
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