ING

ING

Background: With the recession, interest rates fell to an all time low of 0.5%. Consequently, ING had a lot of unhappy savers on their hands. This, coupled with 12-month acquisition bonus rates, led to increased churn at the end of year one. A challenging situation, to say the least.
What we did: We had to fundamentally rethink the way we activated our customers – to build their infinity with the brand, irrespective of interest rate. So we created a comprehensive customer programme of product and brand comms to their 1 million customers, using a variety of channels.
How we did it: We developed a Surprise & Delight direct mail programme, consisting of tailored gifts and thank-you messages, such as a branded Ice Age 2 DVD at Christmas, and lovely birthday cards. We also offered exclusive customer-only offers, such as attractive short-term bonus rates and our Loyalty Saver up-sell, where we up-sold to existing customers at the end of their first year, offering them another high interest product for a further year.
Results: ING Direct achieved the highest NPS score of any savings bank for the first time, beating Nationwide (who had dominated the top spot for years) into 2nd place, and smashed customer satisfaction and retention targets along the way.