Paragon
Navigant Consulting, 2008
Customer retention strategy - buy-to-let mortgages
Summary
Paragon asked Navigant to help devise a customer retention strategy for its buy-to-let mortgage business. In contrast to most conventional projects, however, the company didn’t want Navigant to research and design this strategy by themselves but to work closely with a group of its most experienced middle-managers. It was important, too, that these managers brought the perspectives of different areas of the business to bear: although the project was nominally run by Paragon’s marketing department, it was as much an operational, customer service and product development challenge. Finally, both Paragon and Navigant were keen to avoid the fate of many such strategies: gathering dust on a shelf. The aim here was to devise a practical plan, one that could be implemented.
To achieve this, the work was divided into three phases. The first phase was a “quick strike/drains-up” analysis of Paragon’s mortgage business. This was followed by the development of the customer retention strategy itself, while the third and final phase involved drawing up a project plan for delivery.
