Case Study: Sydbank boosts customer retention with GetWhy customer insights

The strategy behind Sydbank ‘Favorit’

Sydbank, a retail bank, faced the significant challenge of creating a valued customer loyalty program without disrupting its existing customer relationships. To optimize its new 'Sydbank Favorit' retention programme, the bank partnered with GetWhy to gain crucial customer insights before the launch.

GetWhy implemented a "Loyalty concept validation" study to gather fast feedback on the program's clarity and appeal directly from customers. This process allowed for iterative refinements prior to the official launch. The impact was significant, with GetWhy's insights helping nearly half of the bank’s customers enroll in 'Sydbank Favorit' and an impressive 90% of those participants agreeing to further contact from the bank, leading to a nomination for the Danish Digital Award.

Sydbank