Maybank: Customer Relationship Management

Chua Xin Ni CrystalDevki KhoslaKoh Zhen YangLim Sim Yee, DesireeNah Yi Yun DeirdreStine Slinger

OUTLINE OF PRESENTATION

2

Introduction

Design Methodology

Survey Findings

Recommendations

Summary

Improve customer relationship given

SGD400,000

Business Overview

Overview of Maybank

3

Humanizing financial services

22,000 branche

s

20 countries

Revenue: RM 574B

Mission Statement

SWOT Analysis

4

Strength:Solid CRM Foundation

Opportunities:

Weakness:

Threat: Market

saturationFinancial

legislation

Porter’s Five Forces

Threat of New Entrant

• High capital• Anti-trust laws• Financial

regulationsRivalry

• Little differentiation

• Strong competitors

Supplier Power

• Subjected to regulations

• End-consumers

Buyers Power

• Low switching costs

• Many available options

LOW MODERATE

Threat of Substitutes

• Technological substitutesMODERATE

LOW

HIGH

Porter’s Five Forces

Threat of New Entrant

• High capital• Anti-trust laws• Financial

regulationsCompetitionSupplier Power

• Subjected to regulations

• End-consumers

Buyers Power

• Low switching costs

• Many available options

Threat of Substitutes

• Technological substitutes

• Little differentiation• Strong competitors

Porter’s Five Forces

Threat of New Entrant

• High capital• Anti-trust laws• Financial

regulationsCompetition

• Little differentiation• Strong competitors

Supplier Power

• Subjected to regulations

• End-consumers

Buyers Power

• Low switching costs

• Many available options

Threat of Substitutes

• Technological substitutes

Overall: Competitive industry

Pertinent to have effective CRM

Research Methodology

Research Methodology

Methodology

Primary research

Focus group

Online survey

Observational study

Secondary research

Official sources

Industry report

Maybank ReportUser

generated

10

Primary Research Overview

Focus Group

11 individuals

Between 48 to 60 years old

Survey

Convenience sampling

70 data points

Objectives: Determine potential customer

satisfaction drivers, learn consumers’ vocabulary

28

31

11

Respondents

MaybankDBSUOBObservation Study

2 hours at Maybank’s North Bridge Road branch

Survey Findings

NPS Scores

-32%

-9%

25.8%

Negative NPS scores might be attributed to bad practices in the banking

industries

Perceptual Mapping

13

Yuppie banks

Traditional banks

Key findings

Traditional banks: Value, family, safe,

established

Yuppie banks: Young, exciting, professional

Maybank: Doesn’t fall in the groups above;

Absence of strong customer perception

Model and Model Fit

0.415

0.039

0.328

0.052

0.308

Legend:

Significance level below 0.05 is indicated with *.

Significance level below 0.01 is indicated with **.

Significance level below 0.001 is indicated with ***.

Relatively good model fit

Insights likely to be insightful

Identifying the “Hot Buttons”

Maybank’s Perceived Performance

16

Maybank’s Perceived Performance

17

Significant drivers

Maybank: Performs well for perceived value

Maybank: Service Quality and Efficiency are potential roots of

dissatisfaction

Non-significant drivers

Maybank: All below industry average

Recommendation Priorities

18

Recommendations

Overview of Recommendations

Objectives

Improve Maybank’s performance in Service and Efficiency

Improve customer satisfaction and customer retention

Overview of Recommendations

Human capital management: Staff

selection, staff training, staff empowermentConsistency of

tangibles

Improvement of awareness of other

channels

Retail Outlet Improvements

Human Capital Management

21

Increase product knowledge and ability to react to unpredictable situations

Improve service quality and efficiency

Staff Training

Example: Role playing Technique/ Adjusting SOP

Staff Empowerment

Monetary empowerment

Recognition of service excellence

Staff Selection

Personality test

Specific customer-centric characteristics

Enhance customer service oriented culture

Consistency of Tangibles

22

Uniforms

Convey professional image and service quality

Improve service quality and reputation

Consistency Across Outlets

Consistent brand image to resonate in

people’s minds

Uniforms for front-line service staff

Furniture, wall decoration, floor

layout, procedures

Awareness of other Channels

23

Other channels

Better advertise mobile application, website with more detailed steps as to where they can obtain information

Example: Place physical signage at their retail outlets

Results

Improve efficiencyincreases customer satisfaction

Reduce the waiting time due to reduced need to visit the bank

Retail Outlet Improvements

24

Improvements

Service ambassador

Beverages

SMS service

TV

Results

Improves efficiency

Reduces perceived waiting time

Increase emotional value

Impact of Change

25

Current

Projected

Increasing 1% customers from

passive to promoter category

and 1% from detractor to

passive category brings about an

increased contribution of

0.38%

Budget

Customer Portfolio Management

27

It is important for Maybank to

convert younger customers

Aggressive Branding and

cross-selling to younger

customers

80% of Satisfied Customers are 61years and above

60% of the above customers have no intention to revisit

100% of customers aged 26 to 30 are only moderately satisfied

Customer Satisfaction

Conclusion

28

Short-term

Human Resource Management

Mid-term

Target youth and Young Professionals

Retail Outlet Improvements

Channel Awareness

Consistency of Tangibles