Industriens Pension has high ambitions for their customer experience. They want satisfied customers who will recommend them as a pension fund. Pension is a low interest subject to many people, so to accomplish this they want to personalize their customer interactions to accommodate the individual customer’s needs and preferences.
We started with a large explorative qualitative study identifying different archetypes of customers which we then qualified through a quantitative analysis, ending up with 4 different segments. Transforming insights into operational change we integrated the 4 segments with Industriens Pension’s customer database, identifying which segment a customer would belong to with 80 % certainty.
The 4 segments provide an understanding of the customer’s demographic characteristics together with their knowledge of pension, their needs in terms of information and their expectations to Industriens Pension etc. Based on this information Industriens Pension can personalize their information and interaction with all their customers, providing a relevant and personal customer experience.
What are the characteristics of Industriens Pension’s customers and how can they be accommodated to ensure a greater customer satisfaction?
delivering member oriented services
Industriens pension want satisfied customers who will recommend them as a pension fund. Their challenge is that pension is a low interest subject and that their customers are required to be there because of their collective agreement. Many customers are not even aware of Industriens Pension being their pension fund. Industriens Pension are focused on building and maintaining a close relationship with their customer, by ensuring that all interactions are relevant and personal.
We delivered the fundamental insights and operational platform for their customerservice strategy:
we identified homogenous and differentiating characteristics amongst industriens Pension’s customer base.
we established operational insights into customer’s different needs and preferences and how Industriens Pension can accommodate these
we improved their strategic effort to engage with customers, as they could identify who they were not in contact with, and in which way to best reach them
we developed and implemented a datadriven approach to building relevant and personal customer interactions
HOW DID WE APPROACH THE PROBLEM
We started with an explorative approach conducting 24 in-depth interviews, to gain an understanding of IP’s customer’s needs, opinions, relations and values in regards to their pension and the fund behind it.
Based on these insights we identified 4 archetypes which we quantified through 1.827 web-based interviews establishing the size and qualifying the characteristics of the 4 segments, describing their demographic characteristics together with their knowledge of pension, their needs in terms of information and their expectations to Industriens Pension etc.
Then we integrated the 4 segments with Industriens Pension’s customer database, identifying which segment a customer would belong to with 80 % certainty.
KEY OUTPUTS FOR INDUSTRIENS PENSION
Industriens Pension gained a better understanding of their customers through the 4 relatable segments. The segments were visualized through video recordings, to engage the organization.
The segments act as a framework for all customer interactions, and the comparison to each customer in the database enable employees to communicate relevant and helpfully.
Out of the identified 4 segments, it was evident that Industriens Pension only was in contact with two segments – the types of customers who initiate contact themselves. Based on this insight Industirens Pension has operationalized a strategic effort to reach out to the passive customers, and through a personalized approach raise their customer satisfaction.