Read our short case study to understand how Prime Decision worked with Wesleyan Financial Services to increase customer annual financial review bookings via their contact centre.
We’re particularly excited to share this project for three reasons:
The sector: Financial Services
Behavioural economics and decision-making are particularly prominent in financial services, and a key focus at Prime Decision. Regulatory bodies, most prominently the Financial Conduct Authority (FCA), are pressuring firms to safeguard customers from their own irrationality. Meanwhile leading FS companies are using behavioural insight to positively support customer decision-making.
Takeout: Our project focused on annual financial reviews, important for both compliance and customer outcomes. Check out our financial services page for more information.
The context: Contact Centre
Wesleyan is working with us to apply behavioural insights throughout the entire customer journey, including the website, digital platform and face-to-face meetings with financial consultants. But rather than start with digital – e.g. website conversion rate optimisation – they wanted to take on a more difficult challenge from an experimentation perspective.
Takeout: The contact centre is a complex human environment, but its measurability and importance to the business makes it a great fit for behavioural science.
The solution: Employee Behaviour
Although our target was to increase the number of customers booking a financial review, our analysis revealed that the challenge was to get them on the phone in the first place. So rather than changing the call script, our intervention focused on agent behaviour and increasing attempts to contact.
Takeout: Although people might associate ‘nudges’ with simple tweaks to marketing messages, in applied settings it’s often about employees and processes too.
Get in touch for more information on our multichannel behaviour change projects for Toyota, Nintendo and Ovo Energy.