APPLICATIONS
FINTECH
Our approach to increasing product usage in fintech starts with segmenting customers behaviorally. With this segmentation, we construct a usage funnel. We then diagnose for barriers and benefits to target behaviors. For instance, the funnel for an e-wallet app may include app download, sign-up, first transaction, repeat transaction, and bank account linking. We study customer progress between each stage through their digital footprints, look for barriers and benefits along the journey, and design behavior change nudges or choice architecture to keep customers from dropping off.
CUSTOMER SATISFACTION
Many corporate customer satisfaction programs start with seminars on customer centricity, service culture, and customer understanding and, unfortunately, end with them. But we know that customer satisfaction results from specific employee behaviors. Our approach identifies behaviors that deliver brand-specific customer satisfaction.
For instance, we would identify the waiter behaviors that drive satisfaction to boost customer satisfaction at a sit-down restaurant. These may be different from waiter behavior at a fast-food restaurant. We would also define a satisfaction measure like Net Promoter Score (NPS) and rigorously test to ensure the effectiveness of a waiter behavior change program prior to rollout across the restaurant chain.
RETAIL
KFC increased sales of their $1 fries by limiting purchases to four packs per customer, creating a scarcity effect. A beverage store bumped up sales for their large drink by offering a more expensive-by-the-ounce decoy medium drink. These promotion design techniques are some ways of changing behavior to drive revenues.