Banking – from product-led to putting the customer first
Gravitas Customer Value Management (CVM) segmentation enabled more personalisation, for more engagement.
Building lifelong relationships and engendering greater loyalty
![](https://gravitasco.com.au/app/uploads/2023/06/Frame-10879591.jpg)
Value segmentation which better reflects evolving customer needs.
Gravitas CVM segmentation enhances existing customer profiles by defining their current and potential value as they migrate from a new customer to a brand loyalist. Through the determination of a truer life-stage customer value this bank was able to proactively recommend:
- Selective right-planning of accounts; and
- Investment in a personalised health of the relationship customer check-in at branch
![](https://gravitasco.com.au/app/uploads/2023/06/banking.jpg)
Gravitas Customer Value Management (CVM) Segmentation
Gravitas CVM segmentation harnessed customer cohort attributes and characteristics to shift engagement from product-focused communications into a more tightly choreographed stream of personalised communications.
We achieve proven results
4x
The Gravitas value-based engagement (proof-of-concept test) resulted in 4 times the response rate to the previous non-personalised approach.
+56%
Customers invited to a personalised health-of-the-relationship checkin at branch resulted in a 56% increase in sales (versus control).
Key success factors
CVM cohort attributes and characteristics drive life-stage engagement and enable more personalised, relevant communications.
CVM data informs the development of creative and tonally different communications which reflect relationship status.
CVM segmentation enables common, cross-company understanding of customer life-stage engagement strategies.