What We Do

  • Customer transaction satisfaction survey
  • Merchant research
  • Mapping lending processes
  • Product benchmarking
  • Customer needs assessment
  • Customer persona identification
  • Customer journey mapping
  • Customer share of wallet study
  • Voice of customer
  • Concept testing
  • Pre-beta testing of digital channel
  • Digital channel NPS diagnostic
  • Brand NPS diagnostic
  • Offering NPS diagnostics
  • Customer NPS diagnostic
  • Micro-market mapping & opportunity analysis
  • Ad effectiveness monitoring
  • Unit economics benchmarking
  • Process benchmarking
  • Competitive benchmarking
  • Quick view industry trend

Related Case Studies

 Deep dive on Indian Fintech Broking industry

Deep dive on Indian Fintech Broking industry

Objective

  • An established FinTech Broking player wanted to understand their standing in their subcategory/ vertical within the FinTech space. Further, the client wanted to understand strategy and tactics being used by the nearest competitors to garner market share, with special focus on the Industry leader and the incumbents. 

Methodology

  • Conducted an in-depth study on the different attributes of the FinTech brokers with a focus on identifying key backers, their performance and take a view on their expected growth 
  • Identifying 3 business models to categorise the tech-enabled Stockbroker industry 
  • Benchmarked product offerings for Brokers across the three verticals with special focus on the client’s FinTech broker category 
  • Conducted in-depth interviews (N=25) with customers and industry professionals to understand key pain points and growth areas 
  • Identified areas of differentiation in terms of the business models of the different verticals, with a deep dive on models of new-age Fintech brokers 
  • Identified key drivers of revenue growth and pain points in financial models of the Fintech brokers 
  • Conducted deep dive on the digital adoption in India and the level of digitization of the non Fintech broking players to identify level of incumbent risk 

Impact / Outcome

  • The client developed a thorough understanding of the Fintech space and was able to gather valuable insights regarding the specificities of the Fintech broking space. 

 Identify various user archetypes of a cash management platform

Identify various user archetypes of a cash management platform

Objective

  • A large fintech start up (cash management app) wanted to identify?various customer segments, understand business processes, payment preferences and needs of each customer segments 

Methodology

  • Conducted in-depth conversations (N=184) with enterprise owners of various MSME segments to understand business processes in 15 cities (metros, tier 1, 2, and below) 
  • Conducted a MSME owner survey (N = 1,000) to understand the current pain points / challenges faced by them while using cash management app 
  • Assessed business processes, business types, turnover of various merchants and deduced it to various user archetypes, using cash management platform for their daily ledger cum lending operations 
  • Mapped daily business journey of each user archetype and identified their usage of various digital payments and other fintech platforms 
  • Identified various opportunities for expansion (B2B payments, commerce, others) amongst MSMEs by various customer segments, prioritize opportunities 

Impact / Outcome

  • Identified 7 user archetypes, using client app and created a shortlist of pain points while using the cash management app 
  • Client launched different product offering / features catering the need of the current users and rolled the new offering to improve user experience 
Mapping digital journey for fintech player

Mapping digital journey for fintech player

Objective

  • A leading Insurtech player wanted to compare its customers’ digital journey with other internet-first insurtech players to identify key improvement areas and level of digitization. They also wanted to map the claim settlement process and identify ways to reduce TAT by investing in technology. 

Methodology

  • Conducted in-depth interviews with target customers and competitor customers (N = 100) to understand digital journey, key pain points and improvement areas 
  • Conducted in-depth interviews (N = 15) with competitors’ employees to deep-dive into back-end processes supporting the application 
  • Combed through all apps and website of target and its competitors to identify differentiating metrics in core product features 
  • Conducted mystery shopping to understand digital journey of customer on target vs its competitors 
  • Understood key competitors’ strengths and weaknesses by elaborate secondary research and mapped those to customer needs to identify clear winners 

Impact / Outcome 

  • Client had a clear view on how it stacks up against competition in creating a seamless digital journey of customer. The client also got actionable insights to develop its tech in core areas to gain competitive advantage. 
Mapping thinking process for taking online gold loan

Mapping thinking process for taking online gold loan

Objective

  • An online gold loan fintech wanted to deep-dive on the thinking process and understand customer mindset while taking a gold loan as compared to other loan products. The client also wanted to understand how the thinking process evolves when the loan is taken online. 

Methodology

  • Conducted in-depth interviews with customers who had either taken a gold loan or considered taking (N = 150) to understand thinking process involved in taking a gold loan, especially taking an online gold loan 
  • Conducted customer survey (N = 500) in 2 weeks across 10 cities (mix of metro, tier 1 and tier 2 cities) for different customer archetypes across geographies, age-groups, income, and employment categories to understand key considerations while taking a gold loan and propensity to take online 
  • Created a flow chart enumerating the 4-step thinking process customers follow while choosing among loan products including reasons thereof 
  • Identified where gold loan fits in the entire thinking process and how customer decides between gold loan and other loans once it enters the consideration set 

Impact / Outcome

  • Client clearly understood the entire thought process behind taking a gold loan and the additional nuances that appear if the loan is given online.  
NPS study for Insurtech player

NPS study for Insurtech player

Objective

  • A major Insurtech player wanted to understand its perception amongst customers and Direct Selling Agents (DSAs) vs traditional insurance players and other insurtech players along with reasons for stickiness and detraction. The client also wanted insights on improving agent efficiency and reduce attrition to other platforms. 

Methodology

  • Conducted consumer survey (N = 500) and agent survey (N = 200) across 10 cities (mix of metro, tier 1 & 2 cities) for different customer segments (based on gender, age groups, income, % disposable income spend on personal care etc)  
  • Calculated NPS across different customer segments to understand reasons for difference in customer satisfaction and dissatisfaction 
  • Conducted in-depth interviews (N = 20) with agents to understand key reasons for stickiness and propensity to switch to other insurtech players 
  • Used proprietary NPS framework to identify key action items detailing specific improvement points along with identifying relative strengths and weaknesses 

Impact / Outcome

  • Client developed clarity on perception, preferences and feedback as compared to its competitors with action points on how to improve NPS. Client also understand key reasons for high attrition of agents and best practices of the industry. 
Sizing the market for FinTech subcategories

Sizing the market for FinTech subcategories

Objective

  • An established PE player wanted to understand the size of various categories within the FinTech space. The study involved a deep dive into multiple verticals within the FinTech space, especially in the Indian context to understand market size and penetration of each category/ sub-category.  

Methodology

  • Identified the verticals within the FinTech space and categorised FinTech players basis their positioning and product proposition 
  • Identified 6 key verticals and developed market sizing methodology for each vertical 
  • Identified relevant growth drivers and key growth areas for these 6 verticals 
  • Conducted in-depth interviews (N=20) with customers and industry professionals to understand key pain points and growth areas 
  • Conducted in-depth secondary research to identify unique metrics and industry parlance to evaluate performance of prominent players within each vertical 
  • Within each of these verticals understood market penetration and developed an understanding of the extent of adoption in the digital space of traditional finance categories 

Impact / Outcome

  • Client developed an understanding of the FinTech space in terms of size and growth drivers, especially in the Indian context with a special focus on 6 key sub-categories  

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