We constantly talk about the need to better understand the customer. This usually relates to needs based on identifiable habits. But what about the understanding customers personalities? Richer profiling opportunities open up new ways for segmenting your clients across the personality dimensions.
For example, if you can identify customers who are most interested in social impact and charitable legacies, you can market products and services to them; or if you know those who are most likely to need reassurance after a major market event, you can get in touch with them quickly to encourage them not to sell and aid customer retention.
Dr Alex Chase, Head of Product, Oxford Risk