How BNP Paribas Personal Finance built instant trust with clients

The company reduced the cost for new client acquisition by 22%.

Challenge:

Build instant “Trust” in the company’s financial services and remove hesitations that clients may have before they start using the financial products.

Objectives:

Increase the number of new clients and reduce the cost for new client acquisitions without changes in day-to-day operations.

Results:

The company increased new client’s base and reduced the cost for new client acquisition by 22%.

About

BNP Paribas Group is one of the biggest financial organizations in the Euro zone. With more than 27 million clients in 33 countries, the company is the undisputed leader in retail banking and inspires trust in clients and partners for more than 18 years.

BNP Paribas Personal Finance specializes in providing financial solutions for individual clients with its consumer credit activities. For more than 65 years the company is helping their customers write their own success stories.

The company is known for its clear policies, unchanging conditions and responsible crediting regulations. Their transparent way of work is a major trust building factor that leads to more than 70% of returning clients who use the offered financial services more than once.

Industry

Finance

Use Case

Sales & Support

Website

www.bnpparibas-pf.bg

Building Trust with Live Chat Alternative

With the help of Live Chat Alternative, BNP Paribas Personal Finance are able to build instant Trust regarding their services. The company removes hesitations that prospective clients might have before they start using the financial products. It also helps such clients to contact the company without leaving their comfort zone which in this case is the web browser.

"The Live Chat Alternative is a great trust building tool. Trust is the most important factor in our industry to increase new client's base and see returning ones."

Giorgia Stepan

Marketing Department

Implementation

Implementing the Live Chat Alternative service did not pose any challenges within the financial company’s structure as the service itself does not require complex integration as most of the live chat software. BNP Paribas uses a call center to process the phone inquiries from clients and this resulted in no change in the day-to-day way of work.

Effortless Usage

When it comes down to usage our client BNP Paribas found out that they don’t need to purchase new phones, because Live Chat Alternative the existing devices of the company. Moreover there are no hidden costs. The software installation is free and does not demand purchasing new equipment, there are no set up fees or additional employee training. The implementation was easy and took less than a couple of minutes.

Customer's feedback

The marketing department of our client conducted several surveys among their customers in the first three months after the Live Chat Alternative’s implementation. The customer’s feedback showed that the service leads to overall higher client satisfaction and helps to build up trust in clients.

Industry Trends

Our client used researches conducted by the European Economic and Financial Committee which show that people looking for financial services usually compare 4 to 10 different financial companies and the end factor for their choice is trust in the company and in the service. A growing trend in the modern customer service is to be able to present your customers with instant answers. To inspire trust over the phone is 10x times more effective than any live chat and messaging software.

The Live Chat Alternative Usage Results

During the first six months BNP Paribas Personal Finance reports 22% increase in new clients base with the Live Chat Alternative on their website. They were able to effectively instill trust in website visitors and turn them into engaged customers.

"We see a great value in the usage of the service in the finance industry. It helps to offer customer not only quality financial products but also great customer service."