How to use data to boost sales and customer experience.
Bringing a new product to market is not a quick fix. How do you activate prospects to choose your product? What is their user experience and how do you boost the customer experience? You can’t determine that based on gut feelings alone. Commercial actions often have more impact if they are supported by data. Belfius understood this and reinforced the power team behind the brand new banking app ‘Banx’ with a data analyst from Ormit Talent’s traineeship.
Banx is the result of a successful marriage between Belfius and Proximus. The aim of this banking app is twofold: to make digital banking as easy and sustainable as possible. Want to pay at lightning speed via a QR code and monitor the ecological impact of your purchases at the same time? With Banx, you have the key to a greener and more conscious lifestyle in your pocket.
When Banx was just getting off the ground, little was known about its users. Data Chief Hélène Trinon was tasked with analyzing the customer base and gathering valuable insights to optimize sales and customer experience. Management’s goal was to use these insights to make more data-driven decisions. The data project lasted approximately eight months.
Data analysis and dialogue are inextricably linked. First of all, it was important to look critically at the questions of the stakeholders. Where does that question come from and what exactly is expected? This information was leading in determining the right analysis strategy and method.
In the next phase, data talent Hélène collected the necessary data from various sources and, with the prior knowledge from the interview, performed targeted analyses on them. For this she mainly used Adobe Analytics, Python and SQL.
The key insights from the data analysis were visualized and presented to the stakeholders. At the same time, they also thought about practical suggestions. After all, data only have business value when they are linked to concrete actions.
With the learnings, the management immediately went to work to fine-tune the Banx offer and to outline their marketing actions for the coming months. In the meanwhile they continue to look for continuous improvements via this way of insight-gathering. The Banx case is a good example of how data can contribute to a more efficient and especially more human service.