Case Study - Value Proposition
A leading private bank wanted to redesign their value proposition and wished to include additional benefits to differentiate their services to generate engagement and loyalty with their most valued top segment of high-net-worth customers.
Following extensive client focus groups, Ten’s travel and lifestyle concierge service was chosen as a key benefit. Ten launched a three-month pilot service to gain the client’s full trust and gain buy-in from the bank’s main decision makers.
Following a successful pilot, a full travel and lifestyle concierge service was launched to the top tier of the bank’s three-tier wealth management program (clients with $1million+ in AUM and total wealth of $3million+).
Ten combined the concierge programme with high-touch welcome calls and quarterly engagement newsletters featuring high-profile events, exclusive dining opportunities, travel ideas, and upcoming cultural events.
Thanks to Ten’s high-touch introductory calls and emails, the bank’s customer experienced a world-class welcome to the service. The member fast member uptake meant the bank quickly saw increased card spend and received glowing user feedback.
Ten’s comprehensive reporting and member profiling meant the bank’s Relationship Managers gained a valuable insight to their customer’s passion points, preferences and interests, which provided valuable data to help them get to know their clients on a more personal level.