sales and service transformation leads to exceptional performance step up!
TRANSCRIPT
Sales and Service
Transformation Leads to
Exceptional
Performance
STEP Up!
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Sales and Service Transformation Leads to Exceptional Performance
Why STEP Up!?
STEP Up! is what we need to Improve on 2008 Performance→ Consistent approach to achieving exceptional
performance with identified best practices→ Straightforward clear operating model, every branch,
every day, all the time→ Detailed process guidance to support the team on the
one best way to execute→ Inspection system with standards that are defined and
well-articulated
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Sales and Service Transformation Leads to Exceptional Performance
What is STEP Up!?
Tool to Improve Sales & Service Performance→ Consistent National Process→ Specific Activities & Frequencies→ Inspection & Accountability
Investment that will support and enable execution→ Training & Communication→ Tool kit→ Inspection Process
What STEP Up! is Not→ Not invented in Court Square→ Not just a message to do more→ Not a one-time event
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Sales and Service Transformation Leads to Exceptional Performance
Where Did STEP Up! Come From?
Field FeedbackAccelerated Development Timeframe
→ 8/12 – 14 Division Sales Directors
→ 8/19 – 22 Field Participants
→ 9/9 Division Managers – 1st Draft
→ 9/11 Senior Team – Green Light
→ 10/6 Division Managers – Final Review
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Sales and Service Transformation Leads to Exceptional Performance
Cross Functional Division Teams
Area Directors
Branch Managers
Personal BankersBusiness Bankers
AODs and Assistant Branch
Managers
Commercial Banking
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Sales and Service Transformation Leads to Exceptional Performance
How Was STEP Up! Developed?
Documented Top Seller & ManagerTechniques
→ Core Tasks
→ Agreed Standards
→ Documented Best
way to Execute in the
Process guide
Meetings
→ Communications and Team meetings
→ Branch visits and performance reviews
→ Business reviews
Coaching
Administrative Activities
Sessions / Account Opening
Sales & Service Activities
→ Sales activity planning
→ Telemarketing and National Call Nights
→ Outbound sales
→ POS utilization
→ Micromarketing
→ Lobby and line management
→ In-Branch activities
Core Tasks
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Sales and Service Transformation Leads to Exceptional Performance
How Does STEP Up! Fit in?
Manage Activities Daily Huddle, Midday
inspection, EOD recap Telemarketing (LMS),
Outbound Leverage POS Micro-Marketing Events Leverage Partnerships
Measure Sales Dashboards Activities MIS CitiMax Assessment Worksheet Teller / CSR Referral
Tracker
ActionX
Frequency=
Results
Plan Activities Weekly, Monthly,
Quarterly, Annual
Recognize & Reinforce Provide Coaching &
Training Observation & Feedback
(RTSS) Success Share
Inspect
Sales & Service Activities + Process Guides & Standards + Inspection
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Sales and Service Transformation Leads to Exceptional Performance
Commercial Banking Interaction
→ STEP Up! also launches for CB Team on Jan 1→ Kickoff timing is December – Retail Management Will be Invited→ Includes:
Retail Partnership
→ Sales & Service POB calls with Branch Managers, BBs,
and Citi@Work RMs COI development, events, local
community groups/businesses Joint calling with Branch Staff
→ Coaching & Mentoring Sharing best practices and product
expertise
→ Field Activities Introduce Branch Manage, BB,
Citi@Work RM to new to bank customers
Share pipeline reports with Retail Area Managers
Email Branch Manager/BB on changes in customer relationship – line/loan increases or services issues
Share best practices
RM, BDO, CB AD Standards
→ Sales and Service Portfolio/Production Reviews Visit two Top 50 Customers weekly Strengthen internal product and
business partnerships
→ Field Activities Pre-call planning presentations
→ Development Product Training Joint POB calls with CB Area Director /
Division Manager
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Sales and Service Transformation Leads to Exceptional Performance
How do We Know this Works?
Our Best Sellers & Managers→ Top Sellers 6X to 10X productivity
20% - 35% Lift → In Institutions that Have Implemented
This Type of Program
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Sales and Service Transformation Leads to Exceptional Performance
What Goes Away / Improves – Highlights
→ Project Liberty 1 and 2
→ HR – New Employee Onboarding – GEID, SOEID, RITS ID, Email, LAN Access
→ Communications
→ Division Meetings Limited to Three Hours Weekly
→ Weekly CitiMax Area Director Meeting Eliminated
→ Simplified MIS, Easier to Use, More Clickthroughs
→ Micromarketing – MasterCard Purchasing Card, in Pilot, to Eliminate
Diners>T&E>Approval Complications and provide Immediate Payment Capability
→ …More to Come
We’re Looking at HR, Finance, Operations, Micromarketing…Everything
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Sales and Service Transformation Leads to Exceptional Performance
How Can You Help?
Champion STEP Up!
→ Don’t Underestimate Change Management
→ Focus on Inputs / Activities, Not Just Outputs
→ High Performers as well as Lower Performers
→ Inspect
→ Launch with Your Teams – Videos available 11/6
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Sales and Service Transformation Leads to Exceptional Performance
Building a
Customer-Centric
Culture.
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Sales and Service Transformation Leads to Exceptional PerformanceSales and Service Transformation Leads to Exceptional Performance
→ Problem Incidence increased in both syndicated and proprietary studies 33% of Citibank customers reported experiencing a problem Most frequent problems revolve around policy-driven issues and poor
service in interpersonal interactions
→ Problem Resolution has increased but improvement still needed 34% of all problems remain unresolved compared to
industry average of 25% On average, Citibank customers have to wait 11 days to get problems
resolved which is substantially higher than the industry average of 6.2 days
→ In-Person Transactions represent the greatest opportunity for us Below industry average in ’08 Courtesy and Friendliness show our largest gap versus the competition
Where Should We Focus?
Index WeightsIndustry
MeanCitibank Wtd. Gap
In-Person 40.5% 7.98 7.80
Amount of time spent waiting 21.3% 7.57 7.36 85Speed of completing the transaction 16.0% 7.87 7.62 76Courtesy and friendliness of the teller/representative
29.3% 8.11 7.78 182Knowledge of the teller/representative 15.4% 7.76 7.48 82Range of services that can be performed 18.0% 7.65 7.48 58
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Sales and Service Transformation Leads to Exceptional Performance
Brand Purpose and Beliefs“What we believe”
We are relentless in driving winning performance for our clients and our franchise any time, anywhere.
Shared Purpose, Guiding
Values and Principles“What we value”
We are relentless in partnering with our customers... building lifetime relationships...one customer at a time... to anticipate and meet customers’ needs...
→We always start with the customer’s needs and have a desire to surpass their expectations . . .
→We are determined to win for our customers and company. . .
→We create an easy and inviting place for our customers to do business
Customer Experience
Model“Our Promise to our
Customers”
W 3
Driven by Nine Action Principles
Moments of Truth
“How we execute on the Promise”
→ Always Make the first Move (Connect in a great Way)→ Every Complaint is an opportunity (Recover with your heart)→ Lifetime Customer relationship (Build Loyal Fans with dare)
Sales and Service Transformation Leads to Exceptional Performance
How do we Build a Customer-Centric Culture?
Client success is our success→ Build long-term relationships→ Anticipate client needs→ Be approachable and connect→ Offer solutions
→“Woo” Engagement→“Wow” Resolution→“Win” Loyalty
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Sales and Service Transformation Leads to Exceptional Performance
A Balanced Customer – Centric Model
→ Clear, Consistent Customer-Centric Strategy for the Business Unified message, proven training,
Process improvement Discipline
→ Consistent Balanced Approach to Running the Business Balance across our key drivers
→ Accountability for Results Clear expectations, internal and external
metrics
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Sales and Service Transformation Leads to Exceptional Performance
Ultimate Secrets – A Catalyst for Cultural Change
→ Program adopted across multiple organizations within the US and Globally – building towards a common language and customer experience 26,000 Citi Employees have been trained between March 2006 – August 2008
→ Ultimate Secrets is a cultural change in the way we interact with our clients Directly links and reinforces Client First, Shared Values and One Citi branding The Customer Interaction Model is based on a relationship vs. a transaction
→ Simple, easy to understand, and proven training experience Incorporates the best concepts from iconic brands like the Ritz-Carlton, FedEx
and Singapore Airlines
→ Supports the “One Citi” vision Creates a consistent, branded service delivery across multiple touch points
including branches, back office, call centers, etc.
→ Links to overall Citi Business Strategies and drives Quality Metrics Net Promoter Score, Loyalty Factors, mystery shop, external benchmarks Supports better Problem Resolution at first point of contact – a key
opportunity for Citi
Sales and Service Transformation Leads to Exceptional Performance
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Sales and Service Transformation Leads to Exceptional Performance
Customer Experience Progression Model
Sales and Service Transformation Leads to Exceptional Performance
Better Deeper Greater
Share of Mind + Share of Wallet + Share of Heart
Customer
ENGAGEMENT
To Better
ATTRACT
Customers
“WOO”
Service
RECOVERY
To Improve
RETENTION
Of Customers
“WOW”
Customer
LOYALTY
To Secure
LOYAL
Customers
“WIN”
Relationship Profitability = Quality + Longevity
Build Relationships New
and Existing
Portfolio GrowthReferrals
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Sales and Service Transformation Leads to Exceptional Performance
What are the Nine Action Principles?
Sales and Service Transformation Leads to Exceptional Performance
1. P roject Professionally2. R espond Actively3. O bserve Intently4. M ake Personal
Connections5. I dentify Service Gaps6. S olve Issues Promptly7. E stablish Emotional Bond8. M eet Unexpressed Needs9. E ncourage Commitment
Ultimate Secrets centers around Nine Action Principles comprised of our promise to the client and creating the foundation to Woo, Wow and Win with every interaction, every day with our clients!
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Sales and Service Transformation Leads to Exceptional PerformanceSales and Service Transformation Leads to Exceptional Performance
MissionTo ATTRACT Customers By Establishing Immediate Rapport and Initiating Meaningful Customer Conversations
Action Principles
PRO→Please→Reach→Out
Service Secret # 1:WOO The Customers
1. Project Professionally2. Respond Actively3. Observe Intently
VISUAL: How You LookVERBAL: What You SayVOCAL: How You Say It
Check Your Image Connect In A GREAT Way
Assess Satisfaction
Radiate Interest
Thank Warmly
Greet First
Extend Help
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Sales and Service Transformation Leads to Exceptional PerformanceSales and Service Transformation Leads to Exceptional Performance
MissionTo RETAIN Customers By Providing Delightful Experiences And Delivering A Sustainable Value Proposition
Action Principles
MIS→Make →It→Special
Service Secret # 2:WOW The Customers
4. Make Personal Connections5. Identify Service Gaps6. Solve Issues Promptly
Apply the FEEL Skills
EliminateTDIs
Feel Their Pain
Live InThe
Moment
Express
Your Concer
n
Recover With Your HEART
Empathize Sincerely
Regain Trust
Accept Shortcoming
Hear Out
Take Action
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Sales and Service Transformation Leads to Exceptional PerformanceSales and Service Transformation Leads to Exceptional Performance
MissionTo Secure LOYAL Customers By Establishing Deep Connections And Creating Reciprocal Lifelong Relationships
Action Principles
EME→Exceed →My→Expectations
7. Establish Emotional Bond8. Meet Unexpressed Needs9. Encourage Commitment
Apply the CARE Skills Build Loyal Fans With DARE
Service Secret # 3:WIN The Customers
ReflectPositiveEnergy
ChooseYour
Attitudes
ExpressYour
Gratitude
Ask forNegativeFeedback
Exceed Expectations
Recover Service
Accept Responsibility
Delight Each
Moment
LIFETIMECUSTOMER
RELATIONSHIP
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Sales and Service Transformation Leads to Exceptional Performance
Citibank Client Services (CCS) Results
Sales and Service Transformation Leads to Exceptional Performance
Results:20% improvement in Top Box
Customer Satisfaction 44% (Jul’07) 64% (Aug’08)
Results:20% improvement in Top Box
Rep Sat 53% (Jul’07) 73% (Aug’08)
Business Group FY’07 (Top Box)
Aug ‘08 Movement
Client Escalation Unit 38.4% 55.3% Up 16.9%
TeleSales 48.4% 70.7% Up 22.3%
Premium Client Services 52.5% 73.5% Up 21.0%
Business Banking Client Services 50.6% 73.5% Up 22.9%
Primerica 62.3% 75.7% Up 13.4%
Internet Client Services 44.7% 56.0% Up 11.3%
New Account Servicing 34.9% 56.0% Up 21.1%
New Account Opening 56.2% 57.1% Up 0.90%
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Sales and Service Transformation Leads to Exceptional Performance
Next Steps
→ Ultimate Secrets Training for CBNA Leadership
→ Revise existing programs and service measurements to align with Ultimate Secrets Refine internal metrics to be statistically valid and random 1Q
’09 Revise Mystery Shop categories and questions to align –
Target 1Q ’09 Revise Real Time Feedback categories and questions to align
– Target 1Q ’09
→ Develop a “Meeting in a Box” to launch program to field 1Q ’09
→ Create training plan and schedule for full in the branches Determine best strategy for implementation Develop metrics and tracking to monitor progress
Sales and Service Transformation Leads to Exceptional Performance