We recognized that the main factor for customer loyalty is not commissions or benefits, but the personal relationship with the banker. The personal connection gave customers a sense of security and trust, which were decisive in their decisions. To strengthen this relationship, we implemented personalized messages, sent proactive messages, and responded proactively to customer inquiries. These moves strengthened the feeling of caring on the part of the bank and led to a 15% increase in customer loyalty.
The challenge
High fees, branch closures, and a shift to digital services left customers feeling disconnected, fueling complaints and fears of attrition. But what truly drives loyalty remained unclear.
What we discovered
Through in-depth interviews and observations, we found that high fees amplified complaints but weren’t the primary cause of churn. The key insight? Personal relationships with bankers created trust and emotional security. Customers who knew their banker’s name were far more likely to stay loyal, while those with only digital interactions felt alienated.
