CASE STUDY

High Net Worth

THE CHALLENGE

A major world bank conducted independent research into the direct benefits of providing a global travel and lifestyle concierge service to its high-net-worth and ultra-high-net-worth customers. The study found that customer engagement levels increased when using a world-leading concierge service and had a positive effect on card spend. At the time, they were offering their most valued customers a small scale, local concierge programme. However, its lack of global reach and inadequate management information reports meant that it was not increasing brand awareness or customer loyalty as their study suggested it should.

THE SOLUTION

After a successful tender process, Ten was appointed as the bank’s new global concierge provider. Within six months of signing the contract, we had seamlessly opened a fully functioning office in the bank’s home city and had recruited and trained a large team of local specialist lifestyle managers. The tailored solution included travel and lifestyle concierge, complemented by a targeted communications package.

THE RESULTS

Ten is now delivering an unparalleled concierge service in that region. A recent member survey showed that the bank’s high-net-worth and ultra-high-net-worth customers are very satisfied with the new service, responding ‘Excellent’ or ‘Very good’ to 95 per cent of all questions. The survey also revealed that 92 per cent of the members are likely to use the concierge service on a regular basis. The service was given an overall Net Promoter Score of 81.6 – a far higher score than major global companies such as Apple Inc.

Ten is now one of the bank’s trusted strategic partners, offering its customers 24/7 concierge service worldwide and providing the bank with comprehensive utilisation data and vital customer profiling.