What our clients say
Driving customer action
When we’ve worked out what truly motivates customers, we need to target them. We test, support analysis with evidence, and refine before we deliver advice.
The solution might be new products, different styles of communication, improving language and design, implementing innovative customer service models - or a combination. The subtlest measures can sometimes make the biggest difference. But behavioural economics also lets us identify where a less subtle measure is needed and take the best decision.
Policy makers need to make the most of limited resources in a difficult economic climate. From healthy eating to smart meters, “nudges” can be an effective and inexpensive way of encouraging change in public behaviour – when they are based on a clear understanding of what is driving behaviour.
We advise public sector organisations, government departments charities, health trusts, regulators and many others. Knowing what makes good policy is about understanding what motivates voters, taxpayers, consumers, volunteers, patients and students.
Many regulatory concerns have customer behaviour at their root. With low levels of customer switching, vulnerable customers who cannot fully participate in markets, and an awareness that we need to understand unconscious traits that drive decision-making, behavioural economics is becoming an important tool for regulators.
We have one of the largest economic regulation practices in Europe, and our competition practice advises on many high profile cases. Our behavioural economics work supports wider engagement with regulators and helps develop regulatory policy. We diagnose the problem, then develop remedies and trials to find what works for businesses and customers.
Behavioural economics could be the most important work you ever do for your business. Only when you understand your customers’ actual behaviours can you develop innovative customer-based solutions. But surveys and focus groups simply don’t do the job.
At the core of our behavioural economics work is testing and refinement with real customers in real situations. That’s what makes our final advice truly effective.
MoneyLIVE Retail Banking Summit 2018: Frontier discusses the impact of Payment Services Directive 2 (PSD2) on the future of retail banking.