Post on 12-May-2015
description
How We Can Help
Opportunities
Approaches and Best Practices
Alignment
Misalignment
CMO and CX
3 SMARTPHONES
2020 2.5 BILLION
Customer Current Landscape and CMO Issues 1
2
4
5
6
7
HOW TO BE MORE CUSTOMER CENTRIC?
“Customers are sharing their experiences in real time. Banks with poor service have no where to hide.”
CUSTOMER LANDSCAPE
Source: Forrester Research Inc
“Getting to Know You: Building a Customer-Centric Business Model for Retail Banks,”PwC FS Viewpoint, April 2011.
CMO PROBLEMS
UNDERSTAND THE
CUSTOMER
BREAK DOWN
THE SILOS
ENHANCE THE
CUSTOMER EXPERIENCE
Source:PwC
Cus
tom
er
Anal
ytic
s Process Im
provement
Source: Gartner
CMO and CX
GETTING IT RIGHT
Zuno is the fastest growing back in Eastern Europe. They welcome a new customer every 8 minutes
www.zuno.eu
GETTING IT RIGHT
www.simple.com
MOBILE
GETTING IT RIGHT
www.triodos.com
It is not about you, it is about your story
GETTING IT RIGHT
www.commbank.com.au
Search By likes By need By tools Shortcuts
CUSTOMER MAPPING
http://www.touchpointdashboard.com
LEVELS OF CUSTOMER CENTRICITY
Level 1 Lip Service
Level 2 Some Targeting
Level 3 Customising Solutions
Level 4 Customer Orientation
Assure customers are at the center of business but continue to market own products and services
Gather Date on customers and understand they are different and tailor offering according
Focus on problems customers are trying to solve and then package those offerings to address those problems
Focus on solving customer problems and center around customer needs. Less focus on means and more focus on ends
Ranjay Gulati, Harvard Business School professor and author of Re-organise for Resilience
KEY INSIGHTS
Unburden me 1.
2.
4.
3.
5.
6.
7.
I don't like to feel burdened or stressed and seek ways to free myself from any burden as quick as I can. I particularly dislike when companies make life harder than it needs to be, when they themselves add to my burdens. If they were to do this, I’d most likely start looking around for another supplier to be free of them
Make it easy, simple and quick for me
My finances are a focal point in my life. I don't want to have to think about it. So make it as easy as possible to interact with you, easy for me to understand you, and get things sorted as quickly as possible
Help me avoid surprises
I don’t like surprises. Because surprises most often cost me a lot of money. Set and manage my expectations throughout the relationship - particularly at the connection, transfer and disconnection stages
Empower me to make better decisions about my power consumption each month. It’s hard to make good decisions about Finance because it’s so confusing. I’m not sure where to start, I don’t know what I need to know, and I have no clear way to make comparisons or navigate through it. Everyone appears to be offering the exact same thing - but with widely different prices
Empower me to make better choices
Value me If you care about me you’ll do your best to make every experience with me a good one. Treat me like a human, not a property. Understand me and my needs. Show that you value me as a customer
Help me be to stay connected without having to pay for it
I’m a mobile technology savvy person so give me the choices to stay connected with you. I expect you to be technology savvy also. I’m don’t want to pay for the privilege of being connected. I don’t think
about it…
Most customers don’t think about their options because I’m too busy going to work to earn the money. You need to be proactive in helping and advising me.
Source: Axient
Existing customers are confused when they receive a welcome pack….or think this demonstrates a lack of continuity in their relationship with ABC Finance
Receive two welcome packs – one for Credit, the other for Savings which causes confusion and drives calls to call centre
Contact details difficult to find causing frustration
Insight
Welcome pack with account details arrives 3 weeks after purchase
WELCOME PACK
.
Give customers access to their account details and the details of their new account as soon as they sign up via and SMS and email
Provide one account number per customer, not per account
Follow up within 2 to 3 days of sign up with a personal phone call to welcome the customer to ABC Finance
New opt-in paper option, i.e. default paperless
Combine credit and savings welcome into one to avoid confusion
Don’t welcome existing customers – thank them for staying with us
WELCOME PACK
Recommendations
Provide one bill per customer (combine credit and savings)
Provide breakdown of costs
Educate them as to how to save more and spend less
Improve bill comprehension by adding graphs to improve comparison ability and tracking of expenditure
Reference FAQ website and contact details more prominently
Highlight options to add customer value – high interest, promotion
CREDIT CARD STATEMENT
Recommendations
SHOW HOW YOU ARE LISTENING
Source: Aussiefarmers
REAL RESULTS
TANGIBLE INTANGIBLE Increased expected hit rate from 3% to an actual hit rate of 20% Marketing responds to competitors from idea to execution within 8 hours (Dong Energy) Denmark
Greater brand consistency and alignment of post-sales communications
Consolidated 7 pages down to 2 Annual savings of over $2.5million Euros (Postbank)
Improved staff engagement and satisfaction
Created a common graphic profile and reduced the number of varying documents in circulation from 200 to about 50 80% of the millions of documents distributed annually are now transmitted electronically, Nordea Liv & Pension)
Increased direct debit payment and Accelerated cash collection
Increased policy contract renewal rate by 11% delivering additional revenue of $2,711,212 per annum
Single platform to integrate communication processes into core business systems and processes
99.78% billing accuracy 17% decrease in billing inquiries to call centre 20% faster handling of billing inquiries (Source Gas)
Reduce costs by 30% for publications for customers Reduced costs by 10% for publications to debtors (BNP Paribas)
Source: Axient
WHAT WE CAN DO FOR YOU
We would like to meet with you to have a conversation. Look out for our follow up materials or visit www.axientcx.com.au
Wicked technology + innovative services + customer centric communications. The result: We make your customer insights and your customer experience strategy happen in pre and post-sale communications
Wicked Technology
and Services
Have you asked a customer about your pre- and post sale customer communications?
We create customer satisfaction by improving the customer communications, to help company’s improve on the customer experience.
WHAT WE DO
Some of our customers
RESOURCES We will be sending a link of the webinar to you with these resources
The ROI of Correspondence Management 2009 Forrester Research Inc. 1.
Reducing Costs and Increase Profit with Customer Communications. Pitney Bowls 2.
The customer lead bank – Bain and Co 3.
Getting to know you: Building a customer centric business model for retail banks. PwC 4.
Ernst & Young Global Consumer Banking Survey 2012 5.
Disconnected Report Retail UK, 2011 6.
Customer Think Webinar on Banking sector : Digital Vs. Human Experiences 7.
Outside In – Harley Manning and Kerry Bodine 8.
Banking on customer centricity, Transforming banks into customer centric organizations – McKinsey and Company 9. How to make your company think like a customer – Accenture, 11. Winning the customer decision journey – McKinsey and Company 10. The Impact of Customer Relationship Management Implementation on Cost and Profit Efficiencies: Evidence from the U.S. Commercial Banking Industry,” A. Krasnikov, S. Jayachandran and V. Kumar, Journal of Marketing, November 2009 11.
The journey towards great customer centricity Ernst & Young 12.
Customer centric strategies taken to a new level in financial services industry, 13.
Akendi.com Experience Lifecycle Strategies 14.
customercentricity.biz Becoming Customer Centric. 15.