Lynx – Turning the online broker into a customer centric organization

A long-standing partnership dedicated to expanding and implementing customer thinking on all levels

Lynx is an online broker that enables customers to trade and invest in financial markets around the world. Founded in the Netherlands, the company is currently operating in 10 different countries across Europe. We have been working with Lynx since 2013 and have since partnered on almost 20 different projects. Our aim was to make the brand more relevant throughout all levels of the organization – from brand positioning to creating customer knowledge, and from service design to organizational culture. As a result of our continuous collaboration Lynx became a more customer centric organization, more than doubled their employee count, and established itself as one of the go-to brands in online brokerage.

A clear direction for customers and employees through brand identity

The power of brand lies in the focused direction it provides, both for employees and for customers. When we started collaborating with Lynx, the brand stood for price leadership, a position which was getting challenged by new market entrants. After extensive analysis of internal and external factors in Germany, Netherlands and Belgium, we re-positioned the brand in the overlap between authentic internal strengths and first-hand collected customer needs, and therefore created a truly “customer-centric brand”. This helped Lynx to find their true voice and establish a clear and motivating guiding star among employees. The brand positioning also acted as unifying framework for their biggest branches in Europe, synchronizing their efforts and making them more efficient and effective. For implementation towards customers, we helped to translate the brand into corporate design, brand claim, communication, and digital touchpoints. Towards employees we set up culture-guiding principles that put customer benefits into the core of every action, laying the foundation to a customer centric organization.

Syncing European branches with a customer journey

After the successful brand relaunch, we were assigned to dig deeper into the customer experience. Using the approach of “customer journey”, we mapped customer pain and wow points across the entire customer life cycle, drawing from inputs from all European branches. In a collaborative effort between those branches we established the journey as a shared point of reference between them. Subsequently, this common language was used for information exchange and inspiration between branches, further inspiring synchronicity and a stronger focus on the customer.

Increasing acquisition and retention through customer experience

In one of the next projects on our path towards a customer centric organization we tackled an important step within the customer journey – the customer onboarding process which involves a sequence of digital and analog touchpoints. Here we used a combined approach of service design and branding to create a “branded customer experience”. Based on research we created a new flow of events that reduced effort for customers and increased efficiency for Lynx. Additionally, the brand promise was brought to life by using “signature experiences”. Summing up the results of our work, we achieved higher conversion of applicants and extended the principle of customer centricity internally into digital and analogue product design.

Bringing customer knowledge deep into the organization

As customer understanding is key to a customer centric organization, we kept digging further into customer needs and behaviors in various subsequent projects and spread those insights across the organization. For one, we looked at inactive customers and ran one-on-one interviews with them to assess why they did not trade. Our insights helped Lynx to understand the needs of this customer group better and act accordingly. In another project, after interviewing 6.500 traders across Europe, we created a psychologically based customer segmentation and typology. This valuable customer knowledge was introduced to employees responsible for customer journey and marketing during workshops conducted in all European branches. Here we enabled participants to adapt their daily work practices accordingly. For marketing, media planning, product and service design staff we created a “user manual” which described the different types and their behaviors to be put into action. We also introduced the types to every employee at Lynx through a set of post cards that contained short, descriptive characterizations. The knowledge we accumulated in this research served as a data base of insights that is mined on demand as Lynx is progressing into the future.
 
 
The results of our long-standing collaboration with Lynx are manifold: From a clearly articulated brand to more aligned management, countries and employees, and from better, on-brand customer experience to deeper knowledge about customers. This helped LYNX to raise the quality of their customer base by attracting and binding more of their explicitly articulated target customers. As a result of our continuous collaboration, Lynx has become a more customer centric organization, has more than doubled their employee count, and established itself as one of the go-to brands in online brokerage.
 

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In the time working with Rlevance, after we launched all those initiatives, we grew from 70 employees to 100 employees. I believe that Rlevance had a relevant impact on that.

Klaus Schulz

Germany Branch Manager, Lynx B.V.

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