Skip to main content

Percy Ryall / Alamy Stock Photo

Understanding Metro Bank Customers Real Preferences

Sector: Financial services

Team: Owain, Sechele, Umar, Sidney

Partner: Metro Bank

The Challenge

We partnered with The Foundation, the company that helps brands and businesses pioneer on behalf of their customers on a project for Metro Bank, the high street bank that focuses on delivering great experiences for its customers. Metro Bank were in the process of relaunching their brand strategy, and wanted to know which new and existing products and services were most valued by their customers. This could then be used to develop a Customer Promise framework.

The Approach

Working with The Foundation, we designed a 'choice experiment', in which Metro Bank customers were asked to make choices between different packages of products and services. Most standard surveys work by asking people what they like, and getting them to rate their levels of interest. The problem with these kinds of surveys is that what we say we are interested in does not always tally with the choices we make. Our choice experiment gets around this problem by testing the choices people make when offered variations of different packages. By asking a large sample (2,000 customers) of participants to make choices between different packages of products and services options under consideration by MetroBank, we could then determine which of these were most preferred by customers. And by how much.

© Metro Bank

The Result

We were able to show the products and services that people were most likely to choose above all others. Which enabled Metro Bank to include these within its relaunched customer strategy.

"The CogCo team were fantastic. They used cutting edge methods to show us what the real underlying preferences of MetroBank customers were. Which was invaluable for us in setting our new customer strategy." - Kat Robinson, CX Director, Metro Bank

Read recommended case studies

Helping More People to Save for a Rainy Day

Around a third of all people in the UK have less than £100 in savings – despite savings being a core pillar of financial health. We worked with financial wellbeing app Wagestream to tackle the problem, launching a new feature that would help more than 500,000 frontline workers build up a financial savings buffer.

Getting Citizens More Involved in Policy Making

Our partners were Engage Britain in the UK, and UNDP in countries around the world. Both organisations wanted to know what issues citizens thought needed to be tackled to make their countries better places to live

Understanding how Citizens Respond to Risk

Our partner was Finsbury Glover Hering (FGH), the global strategic communications firm. In the context of the global pandemic, FGH and CogCo wanted to create a framework for understanding how communicators and citizens understand and respond to risk.

Interested in working with us?

Get in touch at info@cogco.co

Copied to clipboard