Marketing Cloud, Trailhead...
PensionBee takes the sting out of saving for retirement with trailblazing mobile app
PensionBee is a hive of innovation with Salesforce.
Digitalisation makes the complex simple.
Flexible technology enables growth.
Mobile app provides real-time balance updates.
The balance of technology and human-centric services has been critical to PensionBee’s growth strategy. “Automating certain processes has let us scale and grow at our current rate,” explained CEO, Romi Savova. “But it’s the way we integrate those efficiencies with a hands-on approach to customer service that delivers the best outcomes for our customers.”
BeeKeepers – dedicated account managers – oversee the account setup and funds transfer from start to finish for every customer, keeping in touch via live chat, email, or by phone. Customers can then see when their funds have been transferred on the PensionBee app, which is built on Heroku.
“Customers love having their pension in their pocket,” said Martens. “Many of them log in weekly to check their balance and a third make monthly contributions averaging £300 a month.” To ensure balances are displayed in real-time, PensionBee uses Heroku Connect to sync data between Service Cloud and its mobile app.
A true customer-first approach.
With over 350,000 customers (and many more in the sign-up process), PensionBee wanted a way to service everyone in a truly digital way, and across any channel. So, the team chose Service Cloud. Now, teams have one consolidated place to manage and optimise every customer experience, journey and relationship.
“Service Cloud allows us to take a holistic approach to customer centricity. We can effortlessly monitor and refine macro trends and micro behaviours into clear improvement opportunities. It means we can respond quickly to individual customer needs while also making larger product changes with absolute confidence,” explained Priyal Kanabar, Customer Research Manager.
For example, PensionBee recently analysed its performance against the Financial Conduct Authority’s guidance on treating customers fairly. “Using Service Cloud, I easily built a dashboard that gave me visibility into our performance,” said Kanabar. “Knowing metrics – like how long it takes a customer to transfer their pension out – is instrumental in supporting our company ethos: giving people freedom over their pensions.”
Faster and simpler website changes.
PensionBee’s website is underpinned by Heroku, which means updates can be applied in record time. “We have a red button in the office that we press every time a change goes live,” revealed Lister Parsons. “Sometimes the button gets pressed five times a day. Heroku has really stepped up our agility.”
Thanks to Heroku’s simple interface and GitHub integration, changes can be executed by PensionBee’s marketing and product teams without involving any developers. “If there’s volatility in the market, we can post a topical blog to keep our customers informed,” added Lister Parsons.
Personalised content enriches customer onboarding.
PensionBee uses personalised content and journeys to better nurture prospects and onboard customers. “With Marketing Cloud, we can carry out personalised on-boarding on a massive scale,” explained Martens. “It enables us to send tailored messages that are more likely to grab people’s attention.”
And the personalised approach is already reaping rewards. In January 2019, around 15% of new customers sign-ups were triggered by emails from Marketing Cloud. PensionBee used Trailhead and Salesforce Accelerators to maximise the potential of Marketing Cloud, which went live in 2018. And that’s not all. PensionBee used Marketing Cloud Connector to bring the platform’s capabilities into Service Cloud. This enables the team to have all customer data in one place, while ensuring every prospect and customer receives relevant, personalised message, regardless of what stage of the journey they’re in.
As a regulated company, PensionBee needs to ensure the integrity of customer records. With Salesforce Shield, it can track changes to website fields and recover lost data. It also uses a range of apps from the AppExchange to simplify processes such as friend referrals, customer satisfaction ratings, and contract signings.
“Salesforce provides us with an environment where it’s easy to achieve a high level of trust,” said Lister Parsons.