We’re Inspired by a World Beyond Yes and No
By Equifax Canada
Businesses today want - and need - long-lasting relationships with their customers. Ideally, companies want to know customers throughout their financial lives, accommodating their changing needs as they navigate decisions big and small. This knowledge provides up-sell and cross-sell opportunities. Plus, there is the simple truth that it costs more to acquire a new customer than to retain an existing one.
Getting to know your customer well, and treating them well, also has an emotional payoff. There is a huge opportunity to entrench a brand in consumers’ lives as something more than “just a business.” This sense of trust can be passed on from generation to generation. Think about your own choices - do you automatically reach for the same brand of dish soap that was in your childhood kitchen? Did you open your first bank account at the same branch where your parents did their banking? When a brand treats its customers well, it means something.
But there’s a problem here. As businesses grow, their communications, processes, and decision-making can seem increasingly remote. This can lead to customers, even those of many years, feeling taken for granted. It is a real risk - one that many thousands of companies globally have to manage.
Better insights, deeper relationships
At Equifax, we believe in a different world, one in which we improve the work of our clients and the lives of millions of their customers. We offer better insights, deeper client understanding, and more customizable data. This means we don’t just give quick yes-or-no insights. We see your customers in a far more detailed and nuanced light with their own individual circumstances, rather than seeing them as just a number. As a result, the decisions we help you provide can be more targeted and balanced. For consumers, this can result in a greater likelihood of getting what they want. And for us, it means we can be proud of serving our customers. In short, everybody wins.
It is this approach that has benefitted millions of people around the world. In the first half of 2022 alone, Equifax provided data and insights to lenders that helped more than 400,000 Canadians get a mortgage, 1.2 million consumers in the U.K. secure a credit card, and more than 2.6 million people in the U.S. get a student loan. That’s a lot of people making dreams come true, thanks in part to our data.
This dedication to fairness doesn’t just apply to how we treat our clients; it applies to our team members and the environments we work in, too. To us, a world beyond yes and no is not out of reach. It’s a realistic world that we believe our clients, and their customers, deserve. We’re making it a reality.
To find out how you can create A World beyond Yes and No for your clients, Contact Us.
This article is published by Equifax Canada Co.® 2022. All rights reserved. No part of this article may be reproduced, copied or transmitted in any form or by any means, or stored in a retrieval system of any nature, without the prior permission of Equifax Canada Co. This article is for informational purposes only and is not intended to be legal or business advice.