Assisted a banking client in understanding switching behaviour in the credit card sector and enhancing customer loyalty

To address these requirements effectively, we conducted primary research, focusing on tracking customer satisfaction levels and understanding the reasons that triggered a switch.

Initial desk research: We conducted comprehensive initial desk research to understand key market dynamics and region-specific customer preferences, gaining insights into key competitors.

Data collection methodology: To gain a comprehensive understanding of customer behaviour, we adopted the following methodology for data collection:

• Target respondents: We zeroed in on consumers above 18 years of age, who had the authority to choose their credit card banks.
• Sample spread: We selected a representative sample of 200 respondents from target markets, including the US, Canada, the UK, France, Singapore, China, Australia, Brazil, Mexico and the UAE, while ensuring gender balance (male and female participation at 50:50 ratio). We translated the questionnaire into German, French and Mandarin to ensure accuracy and cultural relevance and cater to non-English-speaking respondents efficiently.
• Method: We conducted 30-minute telephonic interviews with the respondents, including the client’s and its competitors’ customers, to gather comprehensive insights.

• The data collected was meticulously cleaned and maintained in ASCII format, ensuring consistency and reliability for subsequent analysis.
• Our analysts performed a thorough analysis of the data collected, using advanced analytics and statistical tools.
• To understand consumers’ buying and brand-switching behaviour and preferences, we conducted preliminary analysis, regression analysis, factor analysis and cluster analysis.
• Finally, we submitted a comprehensive report, which included exclusive summaries, detailed findings and strategic recommendations.