Engaging with Vulnerable Customers: A Case Study

Never has customer vulnerability been in the spotlight as much as it is today. And understandably so. Over recent years, owing to the cost-of-living crisis and continued economic uncertainty, there has been a sharp increase in the number of consumers who require extra support, particularly through a financial lens. Indeed, studies by the Financial Conduct Authority (FCA) reveal that 60% of all adults in the UK struggle to stay on top of their bills. It’s a reality compounded by the fact there is a distinct vulnerability awareness gap among the population – only 17% of UK consumers self-identity as vulnerable, yet a staggering 67% could be deemed so when benchmarked against FCA vulnerability criteria.

For businesses across the board, this massive gulf in understanding and perception represents a huge problem – on two counts. First, it prevents them from ever delivering a truly personalised brand experience and truly meeting their customers where they are. And second, there are significant penalties associated with failing to apply special protocols when it comes to engaging with consumers in vulnerable circumstances.

This podcast explores what customer management leaders can do to combat all that. TDX Group’s Head of Strategy and CX, Isobel Crosse and Chief Strategy and Transformation Officer, Beth Whelan together share a host of best practices around how to manage and engage effectively with vulnerable consumers and how to empower them with the tools they need to take control of their financial journey.

We dive into:

• Strategies to help make vulnerable customers feel safe
• How to cater to generational nuances and tailor communication tactics accordingly
• TDX Group’s new in-house digital engagement solution
• Ways to ensure data collection policies are watertight against evolving regulation
• How the industry can keep the vulnerability conversation moving forward

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For sponsorship opportunities, reach out to katie.judd@iqpc.co.uk

To register an interest in becoming a guest, get in touch via simon.hall@iqpc.co.uk

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