Kate Feather's presentation on banking and credit unions path to success. 3 steps: understand, repair, and innovate.
transcript
1. Want the slides? info.peoplemetrics.com/think By Kate
Feather
2. August Wilhelm Von Hoffman (1838-1907) Royal College of
Chemistry in London
3. Lets cure malaria!
4. Dont we all take work home?
5. Chemical mauveine
6. Look familiar?
7. How about this?
8. Yards and yards of purple fabric goes on top
9. For Perkin, this stuff
10. became this stuff.
11. Honestly, why is purple mucus important to my credit
union?
12. Source: We Have Entered The Age of the Customer,
Forrester
13. Source: We Have Entered The Age of the Customer,
Forrester
14. Experiences are a distinct economic offering as distinct
from services as services are from goods. Experiences are memorable
events that engage each customer in an inherently personal way and
thereby create a memory as the hallmark of that experience. -Joseph
Pine II
15. The best strive towards the day they leave behind the
safety net
16. Business-to-Consumer Auto Parts and Service (Retail) Cable
and Satellite TV Insurance (Auto & Home and Health Insurance)
Internet TV Restaurants Retail Banking Wireless
Business-to-Business Accounting and Tax Telecommunications Office
and Business Supply Services
17. In the last 12 months, in your opinion, what has happened
to the state of your credit unions customer experience? It has
gotten worse It has remained unchanged We have made marginal
improvements in customer experience We have made great strides in
improving our customer experience I dont know A b c d e
18. of executives said the customer experience delivered by
their bank/credit union has improved in the past 12 months Source:
PeopleMetrics Most Engaging Customer Experiences Study
19. of customers said the customer experience delivered by
their bank/credit union has improved in the past 12 months Source:
PeopleMetrics Most Engaging Customer Experiences Study
20. CUSTOMERS ranked ONLINE AND MOBILE TECHNOLOGY among their
top three priorities for improvement from their bank
21. FUTURE IMPROVEMENT PRIORITIES Ranked Importance CUSTOMER
PRIORITIES EXECUTIVE PRIORITIES PRODUCTS ACTING ON FEEDBACK/
IMPROVE SERVICE FIND AND KEEP TALENTED EMPLOYEES CUSTOMER-FACING
TECHNOLOGY (MOBILE, DIGITAL) PUT CUSTOMER FIRST VoC/ ASKING FOR
FEEDBACK INTERNAL TECHNOLOGY/ CUSTOMER-FACING PROCESSES PHYSICAL
BRANCHES 4 1 FALSE
22. FUTURE IMPROVEMENT PRIORITIES Ranked Importance CUSTOMER
PRIORITIES EXECUTIVE PRIORITIES PRODUCTS ACTING ON FEEDBACK/
IMPROVE SERVICE FIND AND KEEP TALENTED EMPLOYEES CUSTOMER-FACING
TECHNOLOGY (MOBILE, DIGITAL) PUT CUSTOMER FIRST VoC/ ASKING FOR
FEEDBACK INTERNAL TECHNOLOGY/ CUSTOMER-FACING PROCESSES PHYSICAL
BRANCHES 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 8
23. 71% 60% 63% 69% 29% 21% 29% 42% Take individual action on
customer feedback Disciplined decision making around the customer
Common understanding of Cx Established goals for improvement Growth
Banks Non-Growth Banks 33 pts 42 pts 40 pts 27 pts
24. 71% 60% 63% 69% 29% 21% 29% 42% Take individual action on
customer feedback Disciplined decision making around the customer
Common understanding of Cx Established goals for improvement Growth
Banks Non-Growth Banks 33 pts 42 pts 40 pts 27 pts Focus on these
two
25. Three Steps to Business Growth
26. CUSTOMER UNDERSTANDING REPAIR INNOVATE
27. CUSTOMER UNDERSTANDING REPAIR INNOVATE
28. Rackers love technology almost as much as they love their
customers.
31. Source: Forrester Customer Experience Index Enjoyable Easy
Meets Needs T R U S T
32. In an increasingly price competitive world, differentiating
on the client experience was Signatures last line of defense
33. In 2006, we identified ACCOUNTABILITY as key to their
success
34. Daily shift briefings Daily shift meetings
35. CUSTOMER UNDERSTANDING REPAIR INNOVATE
36. 25ptlift in engagement 16,000 fewer problems 30% increase
in revenue 24% increase in worldwide locations
37. CUSTOMER UNDERSTANDING REPAIR INNOVATE
38. 9 national bank Net Promoter Score 46 community bank Net
Promoter Score
39. 54% of national banking customers LOVE their institution
76% of community bank customers LOVE their institution
40. 27% of national banking customers report a neutral or
negative emotional memory 13% of community bank customers report a
neutral or negative emotional memory
41. Enjoyable Easy Meets Needs 83% 89% 84% 90% 63% 78% NATIONAL
COMMUNITY 15 pts 6 pts 6 pts T R U S T Source: Forrester Customer
Experience Index
42. Enjoyable Easy Meets Needs 83% 89% 84% 90% 63% 78% NATIONAL
COMMUNITY 15 pts 6 pts 6 pts T R U S T You already have this
Source: Forrester Customer Experience Index
43. -Marie Curie Nothing in life is to be feared. It is only to
be understood.
44. Kate Feather, EVP kate.feather@peoplemetrics.com Tel: +1
215.979.8037 @PeopleMetrics Want the slides?
info.peoplemetrics.com/think