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NEW YORK CHICAGO LONDON PARIS DUBAI MUMBAI SHANGHAI SEOUL TOKYO www.cedar-consulting.com
Driving Short, Sharp and Successful Customer Experience
March, 2017
Cedar Management Consulting International LLC (Rep. Office)P O Box 41785, 25D, Level 25, Jumeirah Emirates Towers, Sheikh Zayed Road, Dubai, UAETel + 971 4 330 4447, Fax +971 4 330 0448Confidential Document v1
NEW YORK CHICAGO LONDON PARIS DUBAI MUMBAI SHANGHAI SEOUL TOKYO www.cedar-consulting.com
Customer Experience Transformation
5 steps to short-sharp-successful customer experience transformation
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What |Refine the proposition. Offering, pricing and experience
Who |Define your customer. Segmentation
How |CRM. Processes. People
Where|Channels. Branch + Digital
So-What |Performance measurement
NEW YORK CHICAGO LONDON PARIS DUBAI MUMBAI SHANGHAI SEOUL TOKYO www.cedar-consulting.com
Key Drivers | Customer Experience
1. Segmentation
� Value based segmentation
� Profile based segmentation
� Segment based value proposition
2. Processes
� Customer life-cycle across channels
� Best-in-class sales & service processes
� Organisation design
� Aignment across business units
3. Organization 4. Metrics
� Customer Satisfaction Metrics
� Service Turnaround Times
� Transaction Costs
5. Technology
� Digital Channels� Operational &
Analytical CRM� Core Product
Platforms� Customer
Centric model
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Customer Experience transformation was enabled by five key drivers
NEW YORK CHICAGO LONDON PARIS DUBAI MUMBAI SHANGHAI SEOUL TOKYO www.cedar-consulting.com
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Profile of customer segment driven by analysis of actual data and experiences
1. Customer Segmentation
Key Insights
Profile of Customer Segment
Typical product holding and channel usage for a
segment
Potential Segment Upgrades / Downgrades Customer profiles
No. of customers / accounts
No. of new customers/ accounts added
No. of accounts due to mature
Consolidated relationship size per customer
Business performance vis-à-vis industry
Analysis
Data Building Blocks
Customer & Account Behavior Scores
Customer Identification Relationship & Transaction History Account Balances
Product Information
Channel Usage
Industry & Competitor Benchmarks
Inbound & Outbound Communication
NEW YORK CHICAGO LONDON PARIS DUBAI MUMBAI SHANGHAI SEOUL TOKYO www.cedar-consulting.com
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2. Customer Interaction Processes
Customer Interaction & processes modelled consistently across channels
CUSTOMER
Branch Network
IVR / Call Center
Internet Banking
Kiosk Banking
RelationshipManagerE-mail/
Social Media
Mobile Banking
Interactive Teller
Machines
NEW YORK CHICAGO LONDON PARIS DUBAI MUMBAI SHANGHAI SEOUL TOKYO www.cedar-consulting.com
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Well defined functional unit model, defined across segments
Frau
d m
anag
emen
t
Lifecycle processes tailored to segment: acquisition, service, retention & win back
Mar
ketin
g
Prod
uct
deve
lopm
ent
Sale
s
Bran
ches
Chan
nel
man
agem
ent
Billi
ng
Colle
ctio
ns
Serv
ice
cent
re
Rete
ntio
n Gr
oup
Othe
r dep
ts
Segment A(retail)
Segment B(corporate)
Segment C(insurance)
Functional unitsFunctional units with no integration of segment
processes
HNI
Affluent
Mass Retail
3. Organizational Enablers
Functional Units
Prod
uct
Deve
lopm
ent
Mar
ketin
g
Sale
s
Billi
ng
Colle
ctio
ns
Frau
d M
anag
emen
t
Serv
ice
Cent
er
Rete
ntio
n Gr
oup
Chan
nel
Man
agem
ent
Bran
ches
Oth
er
Dept
s.
Functional Units with no integration
of segment processes
Lifecycle processes tailored to segment: acquisitions, service,
retention & win back
NEW YORK CHICAGO LONDON PARIS DUBAI MUMBAI SHANGHAI SEOUL TOKYO www.cedar-consulting.com
4. Performance Measurement Framework
Performance Measurement
TAT/ Wait Time
Analysis
Complaints & Attrition
Analysis
Mystery Shopping
� By channels� By services� By zones
� Branch management� Across products
� Call Centres – satisfaction, knowledge & communication
� Branches – greeters, CSR, Helpdesk, Teller
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Effective performance measurement framework put in place
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NEW YORK CHICAGO LONDON PARIS DUBAI MUMBAI SHANGHAI SEOUL TOKYO www.cedar-consulting.com
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Objectives and measures defined using the Balanced Scorecard framework
4. Customer Experience Scorecard
Customer Experience
Metrics
� Customer focus and profitable� Segmentation through restructuring� Improve operating Efficiency
� Transactional Convenience� Reliable & consistent service� Efficient remote channel service
� Cost Effective Delivery Channels� Consistent TAT� Competitive Service Levels
Financial
Customer
Internal Process
Organizational� Focus on business needs� Objective performance management� Training to personnel
� Net Profit %� Segment Profit %� Op. Expense./Total Income
� Customer Index� Volume
� Service cost / channel� % SLAs met� # of transactions over CCS
� # of Customer Service JDs� # of positions with KRA� Key milestones
Objectives Measures
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NEW YORK CHICAGO LONDON PARIS DUBAI MUMBAI SHANGHAI SEOUL TOKYO www.cedar-consulting.com
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5. Technology Enablers
Channels
Technology – aligned to deliver customer experience
CRM� 360 view of customers� Service Management� Customer Analytics
BPM� Service TATs� Transaction Workflow� Roles & Responsibilities
Core Systems
� Product Features� Account Features� Limits and Collaterals
Business Intelligence
� Product Profitability� Organization Performance Metrics� What-if Scenario Analysis
Enablers
Technology Infrastructure
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Customer Insight Predictive Analytics
ExecutionMeasurement
NEW YORK CHICAGO LONDON PARIS DUBAI MUMBAI SHANGHAI SEOUL TOKYO www.cedar-consulting.com
Customer Centric Culture
Customer centric culture developed using key considerations
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Customer Centricity
Engage
Customer Centric Culture
Map Customer Feedback into processes and behaviors
Align Operating model to enable customer centricity
EngageExecutives and Leaders
IntegrateDisparate business unit culture
Measurechange using key metrics
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