British Private Bank

Speaking to the wealthy

In brevity, there was a need for ongoing, robust and reliable research."

Our client, a leading British private bank, needed to revamp its existing Client Engagement Programme for two of its sub-brands.

The existing survey covered key areas of customer experience, including NPS, overall satisfaction with the organisation as well as the private banker and wealth manager. The results were mainly used internally, but there was now a need to raise its profile, and also use it to portray the brand externally.

The Challenge

The research programme posed several challenges:

Client type: High-profile (U)HNWIs, including Private Office clients

Volume: 400-500 interviews per month

Speed: KPIs need to be reported within 48 hours of fieldwork completion

Implications: results used to assess annual performance targets for all client-facing staff, as well as for reporting to the City and media

In brevity, there was a need for ongoing, robust and reliable research.

Our approach

Based on our experience with this audience, we recommended conducting interviews by phone, but also allow for online completion, where a client wished to do so.

We employed native speakers to enhance the interview experience of overseas clients, giving them the opportunity to provide their feedback in their own language. Our interviewers’ high touch approach yielded >95% participation rate.

All sensitive data was stored on our local secure encrypted server.

In addition to our monthly topline reports, we provided the client with an online data interrogation tool that allows them to cross-tabulate and filter information based on their individual needs.

The outcome

Through efficient project management, we managed to regularly report KPIs within the required timeframe.

Ultimately, we were able to provide fast and accurate NPS and satisfaction data, allowing our client to assess their performance across different client segments.

The quality and the level of detail from the open ended questions (verbatim) provided a great level of insight and a powerful tool to diagnose movements in KPI scores over time.