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- Title
Leveraging Customer Service Support to Enhance Brand Value and Corporate Performance: Evidence from the Fintech Industry.
- Authors
Syropyatov, Vladimir Valerevich; Arenkov, Igor Anatolevich; Sajid, Soman; Mahar, Daniyal Haider
- Abstract
Objective –This study investigates the role of customer service support (CSS) in co-creating brand value and enhancing corporate performance in the fintech industry. The research focuses on analyzing the impact of CSS on the customer journey from registration to first deposit. Methodology – The study utilizes historical data analysis and A/B testing. Client data from a leading fintech company is analyzed to compare conversion rates between those who used CSS versus those who did not. An A/B test is then conducted using a specialized support team targeting clients who haven’t made a deposit and had less than 2 chats with CSS. Findings –Clients who used CSS before depositing had 5 times higher conversion rates. The A/B test found a 3.1 percentage point (9.3% relative) increase in conversion from using targeted support. Novelty –This study provides new empirical evidence on the impact of CSS as a brand value co-creator in fintech, with a novel methodology to enhance corporate performance.
- Subjects
FINANCIAL technology; BRAND equity; ORGANIZATIONAL performance; CUSTOMER cocreation; CUSTOMER services; HOUSE brands
- Publication
Journal of Finance & Banking Review (JFBR), 2023, Vol 8, Issue 3, p116
- ISSN
2636-9176
- Publication type
Article
- DOI
10.35609/jfbr.2023.8.3(1)