PensionBee turns behavior trends into improvement opportunities

PensionBee turns behavior trends into improvement opportunities

Net Promoter Score®

PensionBee Brand Overview

PensionBee is a leading online pension provider, making pension management easy for its customers while they save for a happy retirement.

PensionBee helps its customers combine their old pension pots, make flexible contributions, invest in line with their goals and values, and make withdrawals from the age of 55 (increasing to 57 in 2028.) PensionBee offers a range of investment plans, including fossil fuel free options, from some of the world’s largest asset managers.

PensionBee’s Challenges

In their pursuit of offering a product that enables customers to have peace of mind when it comes to their financial future, PensionBee required a reliable CX platform, able to collect, store and dig into customer satisfaction data. Given the diversity of its customer base and the range of pension plans it offers, the brand was looking for more insights directly from the source - its customers - on how to deliver a product that serves its purpose.

Seeking opportunities to improve the customer experience and evidence its commitment to offering a modern day pension saving solution, PensionBee was ready to try a new way of doing things. But before committing to Retently, it needed to ensure a Salesforce integration was in place to import existing customer data and trigger event-based surveys. PensionBee was also looking for a tool that would make the feedback collection and analysis effortless. Overall, the pension provider required a time-efficient solution that would illustrate customers’ perception of the product, flagging any arising issues, and offering data-based insights over time, in a straightforward display.

The Solution

With Retently PensionBee has been able to easily import all its customer data via the Salesforce integration, personalize its campaigns, and get started in minutes. Since simplicity is at the heart of what it does, it did not opt for complex scenarios. It went for a transactional email NPS campaign, triggered by Salesforce events - amounting to tens of thousands of surveys a year.

Retently has made it easy for PensionBee’s team to closely follow the process, spot trends in customer behavior, and be flexible in addressing feedback. The intuitive UI/UX, the variety of reports, and the neatly grouped data have then allowed it to listen, hear and act on the collected feedback in a proactive way.

Results with Retently

For over two years, PensionBee has successfully been using Retently to collect and interpret large amounts of customer feedback using the intuitive dashboard, automation features, and analytics capabilities, to gain relevant insights into customer behavior, overall trends, and potential pain points.

Retently’s Salesforce integration avoids the manual data enrichment and human error that can sometimes get in the way of collecting accurate customer data, allowing its users to sync data automatically and trigger timely surveys.

Feedback analytics has been a valuable asset in helping Pensionbee identify its strengths and areas to focus its efforts, as well as gain a deep understanding of customers’ needs. For better segmentation, it groups customer data into several categories, for example, by pension plan or age group. In this case, available reports can show which plans are most popular or which age group engages more with the product. This information can then be used to optimize interactions, personalize marketing efforts, and improve products.

Additionally, the analytics also allows the company to track its progress over time and make targeted data-driven decisions on the way forward. Since starting to act on the gathered insights, PensionBee has achieved an overall NPS of 63, which is well above the industry average.

In conclusion, CX tools, like Retently, can bring measurable benefits and significant improvements to a business's customer experience, for PensionBee this centred around providing a holistic view of its customer needs.

Nuria Tain
Nuria Tain Product @ PensionBee

Before implementing Retently, we were reacting to customer feedback. Now, we are proactively addressing potential problems and focusing on opportunities to scale our business. The reporting features are incredibly helpful in identifying areas for improvement. The tool is also user-friendly, and the customer support team is always available to answer any questions. I highly recommend giving it a try.

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