Leveraging Customer Service Support to Enhance Brand Value and Corporate Performance: Evidence from the Fintech Industry

Vladimir Valerevich Syropyatov ()
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Vladimir Valerevich Syropyatov: Postgraduate student of St. Petersburg State University, 62 Tchaikovsky Street, 191194, Saint Petersburg, Russia Author-2-Name: Igor Anatolevich Arenkov Author-2-Workplace-Name: Doctor of Economics, Professor, Head of the Department of Enterprise Economics and Entrepreneurship of St. Petersburg State University, 62 Tchaikovsky Street, 191194, Saint Petersburg, Russia Author-3-Name: Soman Sajid Author-3-Workplace-Name: "Graduate of St. Petersburg School of Economics and Management, marketing expert in IT company, 3 Kantemirovskaya Street, 194100, St. Petersburg, Russia. " Author-4-Name: Daniyal Haider Mahar Author-4-Workplace-Name: "Postgraduate of St. Petersburg School of Economics and Management, 3 Kantemirovskaya Street, 194100, St. Petersburg, Russia. " Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:

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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. Type of Paper - Empirical"

Keywords: Brand value; Brand co-creation; Fintech; Customer service; Performance (search for similar items in EconPapers)
JEL-codes: M14 M31 (search for similar items in EconPapers)
Pages: 9
Date: 2023-12-31
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Published in Journal of Finance and Banking Review, Volume 8, Issue 3

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Persistent link: https://EconPapers.repec.org/RePEc:gtr:gatrjs:jfbr217

DOI: 10.35609/jfbr.2023.8.3(1)

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