CI Barometer 2011: Recovery or Breakdown

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The Client Intimacy Barometer reveals three major goals among companies: simplification of the client experience, personalization of the company client relationship, and increased responsiveness / better organization and use of client information.

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CI Barometer 2011: Recovery or Breakdown

  1. 1. Client Intimacy Barometer 2011RECOVERY ORbREakdOwn?CSC
  2. 2. Opinions expressed by contributors are their own. Reproduction in whole or in part without written permission is strictly prohibited. © Copyright CSC 2011. All rights reserved.2
  3. 3. CSC In TOUCH wITH CURREnT TREndSWithin the framework of its I.D.E.A.S programme (Inspiration, Debate,Executive, Annual Surveys). CSC carries out a number of “barometers”every year to analyse trends and perspectives from key roles within theboardroom (human resources, finance, IT, procurement…) at the Europeanor global level. Each of these studies, carried out with the assistanceof independent survey institutions (IFOP and TNS Sofres), involve theparticipation of hundreds of managers from large businesses and publicadministrations. The results of these studies are revealed during highlevel events, organised in different cities (Paris, Madrid, Barcelona, Milan,Brussels, Lisbon, etc.), and are also relayed by partners from the media andfrom academia (universities and elite business schools). 3
  4. 4. Client Intimacy Barometer 2011RECOVERY ORbREakdOwn?
  5. 5. TABLE OF CONTENTS 1 SUmmaRY PAgE 9 2 1 RESUlTS PAgE 17 3 1 TESTImOnIalS PAgE 31 32. guSTAvO BARRETO. Coordinating Manager Marketing Department - Ocidental Seguros Millennium bcp Ageas 34. PhILIPPE BERNARD. Executive vice President group Sales & Care - Orange 36. JEFF BOEkSTEIN. group Sales & Marketing Director - Belron® 38. YvES DE BOhAN. general Manager - Laurent-Perrier Belgium 40. PASCAL DELORME. Commercial, Marketing and IS Director - SNCF Voyages 42. ThIERRY DugNY. International general Director - Parfums Christian Dior 44. XAvIER FLAMAND. general Manager - fnac.com 46. FRANCESCO FRATES. Managing Director - Roset Italia Srl 48. YANNICk gRéCOuRT. Strategy and Marketing Director - Deutsche Bank Belgium 50. SOPhIE hELLER. vice President Marketing and Communications - ING Direct France 52. RENAN LEvY. Chief Executive Officer - ActivePath 54. BRuNO LuCAS. Assistant general Manager for Clients, Services and Partners - Employment Centre 56. BéATRICE PâquES. Marketing and Sales Manager - Thalys 58. MIChEL PhAN. Marketing professor - LVMH Chairholder, ESSEC 60. JACquES RIvOAL. Managing Director - Volkswagen France 62. kRIS vERvAET. vice President Marketing - Belgacom 4 1 analYSIS PAgE 65 64. CLAuDE CzEChOWSkI. President and CEO South & West Europe - President, global Consulting / Technology/ ERP Practices. CSC 66. Luxury in the era of social media 5 1 ClIEnT InTImaCY aS a dIffEREnTIaTIOn STRaTEgY PAgE 715
  6. 6. THE CUSTOmER InTImaCY baROmETER IS a STUdY COndUCTEd bY CSC, In paRTnERSHIp wITH TnS SOfRES, fOR THE fIRST TImE. IT dRawS On a QUanTITaTIVE analYSIS Of IndUSTRY TREndS and THE pERSpECTIVES Of maRkETIng, SalES, dISTRIbUTIOn, and CUSTOmER RElaTIOnS dIRECTORS fROm a SamplIng Of maJOR EUROpEan COmpanIES.6
  7. 7. ClIEnT InTImaCYbaROmETERA EUROPEAN SURVEYAPPROACH AND METHODOLOGy TARGET AND SAMPLEThe first edition of the Client Intimacy Barometer Private and semi-public companies:was conducted in collaboration with the TNS Sofresindependent research firm, based on a sampling of • With a minimum of 1.000 employeesmarketing, sales, distribution, and customer relations • Located in Belgium, France, germany, Italy, Portugal,directors working for European companies that employ Spain and united kingdom.more than 1,000 staff members. These executives wereinterviewed regarding the role, concerns, performance, 82 managers were interviewed (with no specific criteriaand perspectives of the marketing, sales, distribution, in terms of industry or company size). These managers represent the following target positions:and customer relations functions within their company. • Marketing, sales, distribution, or customer relationsINTERVIEw METHOD directors or managers..The questionnaire was administered by the TNS Sofres In the end, the sample was adjusted to ensure that itindependent research firm, using the CATI method (Computer accurately represented all European companies in theAssisted Telephone Interview), in October and November of 2010. target sectors having at least 1,000 employees. 7
  8. 8. 8
  9. 9. 1RECOVERY ORbREakdOwn? CLIENT INTIMACY BAROMETER SUmmaRY 9
  10. 10. SUmmARY ClIEnT InTImaCY baROmETER pUTTIng THE CUSTOmER fIRST In bUSInESS TRanSfORmaTIOn THE 2011 CUSTOMER INTIMACy BAROMETER HIGHLIGHTS THE CHANGES THAT COMPANIES SHOULD MAKE IN A SITUATION IN wHICH THEy ARE LESS AND LESS IN CONTROL OF THEIR RELATIONSHIP wITH CUSTOMERS A continuously expanding assortment of products and CLIENT INTIMACy: A KEy STRATEGIC AREA services, increasingly unpredictable consumption patterns, FOR COMPANy DIFFERENTIATION consumer empowerment at the expense of brand image, the development of new technologies that facilitate market The studies conducted as part of the CSC research access and competition... The list goes on and on. The programme show that companies have a choice between past ten years have had a profound and lasting impact three different customer focused market approaches, all of on consumer behaviour. During the economic crisis, the which lead to very different business models. consumer has become more demanding and less loyal. Customers are in a never-ending hunt for the best prices, Companies focusing on operational excellence seek to convenience, and service. The development of the internet, be number one in terms of price and convenience. They social networks (Facebook, Twitter, etc.), blogs, and mobile offer middle-of-the-line products at the best price with few technology (smartphones and digital tablets) has led to the hassles. proliferation of potential customer relationship channels. Acting as both the force behind and the observers of these Companies focusing on product leadership are constantly developments, businesses have to adapt to a competitive innovating in an effort to produce a continuous flow of environment where product innovation and cost control better and better products and services while staying are no longer sufficient. They have no choice but to focus ahead of the market. These companies serve customers on developing a closer relationship with their customers as a who are less sensitive to price and they benefit from very way to differentiate themselves. widespread distribution of their offering.10
  11. 11. Companies focusing on client intimacy aim to satisfy theneeds of each individual customer rather than the marketas a whole. Constantly adapting their products and servicesbased on an increasingly specific definition of the customer,they cultivate relationships and specialise in meeting needs THE ClIEnT InTImaCYthat are sometimes only apparent to them, thanks to theirbond with their clientele. The Client Intimacy Barometer baROmETER REVEalS THREEindicates that customer intimacy is an important strategic maJOR gOalS amOngfactor for 53% of the companies surveyed, with a marked COmpanIES: SImplIfICaTIOndifference from country to country. France leads in this Of THE ClIEnT EXpERIEnCE,regard with almost 60%, far ahead of its northern neighbourssuch as great Britain (at only 38%) or germany (50%). 30% of pERSOnalISaTIOnthe companies base their strategy on operational excellence Of THE COmpanY-and only 14% on product leadership. The Client Intimacy ClIEnT RElaTIOnSHIp,Barometer reveals a recent realisation among French and InCREaSEdcompanies of the need to put greater emphasis on customervalue as part of their strategy. RESpOnSIVEnESS / bETTER ORganISaTIOn and USE OfSource : Treacy, Michael and Wiersema, Fred, The Discipline of Market Leaders: ChooseYour Customers, Narrow Your Focus, Dominate Your Market, Addison-Wesley. ClIEnT InfORmaTIOn. 11
  12. 12. IMPLEMENTING A CLIENT INTIMACy STRATEGy ENTAILS MAJOR CHANGES TO A COMPANyS BUSINESS MODEL CSCs analysis shows that companies that are industry leaders in the area of client intimacy know how to meet client expectations in two of the three value disciplines while excelling at building a close relationship with their clients. These companies use business models that focus on: • In-depth knowledge of their market environment (client expectations and needs, competitive positioning, etc.). • Total fulfilment of client demands at every point in the interaction between the client and the company, not just at the moment of sale (information, customer service before, during, and after the sale, etc.). • A quest for maximum profitability based on long-term client potential and not just a single transaction (thanks to a firm understanding of the value perceived by clients regarding the product and service offering). • Continuous adaptation to shorter and shorter design, development, and marketing cycles for products and services, in favour of increased responsiveness to requests and a staunchly interactive approach to direct and indirect client relations. This closeness with clients also requires that a bond be forged in an environment where the company has less and less direct control over this very relationship. Companies now are responsible for a relationship that is outside of their power and in which they are not the only stakeholder. For more information on the value disciplines model, see section 5.12
  13. 13. CHANGES IN THEIR BUSINESS mODEL, TRANSVERSE TECHNOLOGY INVESTmENTS(ESPECIALLY IN mOBILE TECHNOLOGIES), A SHIFT IN CORPORATE CULTURE TOWARD THECLIENT—THESE ARE JUST SOmE OF THE mANY ACTIONS BEING TAKEN BY COmPANIES TOmAKE THE CLIENT THE FOCAL POINT OF THEIR STRATEGY.MAIN OBJECTIVES wHEN BUILDING CLIENT traditional approaches to determine client expectationsINTIMACy (periodic or post-purchase satisfaction questionnaires), the human aspect is key when it comes to understandingSIMPLIFYINg ThE CLIENT EXPERIENCE needs, expectations, and frustrations. In addition to formal feedback from the salespeople inThe Client Intimacy Barometer indicates that we have the field (mainly in B2B markets), information from thetransitioned from the era of marketing to the era of network (agencies, shops, etc.) helps to make all playersenhanced client experience, in all aspects of client-company increasingly involved and accountable and generatesinteraction. For 43% of the companies surveyed, their first added value for marketing and sales managers. Yet, thepriority is to simplify the client experience and to improve Client Intimacy Barometer indicates that these feedbackthe quality of the interaction with the client. Increased channels are still under-utilised—only 14% of the companiesclient satisfaction takes precedence over the cost of surveyed believe that they use these tools to their fullmanaging client relationship channels. This satisfaction extent.pertains not only to the quality of the sales process, butalso incorporates service quality before and after the sale. uSINg ELECTRONIC ChANNELS TO ENhANCE ThE CLIENT EXPERIENCEPERSONALISINg ThE COMPANY-CLIENT RELATIONShIP Even though we are convinced of the need to developFor 36% of the companies surveyed, simplifying the client a strong presence on social networks and electronicexperience begins with personalisation of the relationship channels, the Client Intimacy Barometer illustrates theacross all channels. Personalisation of the product/service difficulty encountered by many companies in identifyingoffering (28%) and multichannel development (27%) are the added value of projects that focus on these channels;also considered priorities. only 16% of respondents are able to quantify a positive return on investment and only 8% are going to launchINCREASINg RESPONSIvENESS/IMPROvINg such projects on a short-term basis. however, 24% of theORgANISATION AND uSE OF CLIENT INFORMATION companies—primarily in B2B industries—prefer to focus their investments on traditional channels and for 23% ofIn keeping with a business model that supports all client companies that have carried out these kinds of projects, itintimacy strategies, 33% of companies plan to make short- is still too early to assess the added value.term investments to improve their responsiveness andthe quality of their interaction with clients. Their second BuILDINg ThE BRAND ON SOCIAL NETWORkSpriority relates to enhancing the way they collect andstructure client information (30%). And their third priority The rise of social networks is shaking up client relationships.relates to the use of information on clients (24%). Companies are no longer the only ones talking about themselves. Individuals are able to talk about companiesA NEED TO TRANSFORM BUSINESS MODELS on social networks—sometimes offering their praise, but often criticising. It is only natural for consumers to be moreDeveloping a client intimacy strategy requires the profound influenced, outside their family, by what their friends or eventransformation of a companys business model. strangers say than by what a company says in its corporate communications or advertising. The internet is where trustDEvELOPINg TOOLS TO LISTEN TO CLIENTS is both built and destroyed; 78% of consumers trust their friends opinions, whereas only 14% trust advertisements.The Client Intimacy Barometer shows that 46% of One out of every five tweets on Twitter is brand-related.businesses are attentive to their clients needs and desiresin an effort to improve their offering and provide better DEvELOPINg AN INTEROPERABLE MuLTIChANNELservice. 33% go even further, anticipating these needs and STRATEgYincorporating them when designing and developing newproducts and services. 48% of companies favour the development of websites (and B2B extranets) among the channels available toINvOLvINg LOCAL PLAYERS IN ThE STRATEgY them. Social networks come in second (at 39%), followedClient intimacy requires companies to "act local." The by local sales forces (at 29%).Client Intimacy Barometer demonstrates the importanceof involving players who are in the field and truly in contact Only 34% of the companies surveyed offer their clientswith the clients; although companies still mainly use a variety of interoperable channels of interaction. The 13
  14. 14. implementation of a true multichannel strategy requires client relationships (transactional marketing, relationship a profound organisational transformation and represents marketing, and brand experience) and that they are able a substantial investment. Almost 50% of the companies to reach clients without being intrusive. These various surveyed admit that there is room for improvement in their channels must thus be interoperable across multichannel multichannel approach—whether they are structurally and structures that make it possible to: primarily single channel while their clients have multichannel • Combine "client" and "employee" (salesperson, advisor) expectations or whether they offer their clients various roles using web-based architectures, for instance channels of interaction that are not truly interoperable (silo by making outside sources of information available effect). (intelligence gathering, blogs, consumer opinions, etc.) • Increase the flexibility of client-facing interfaces to huMANS REMAIN ThE CORNERSTONE OF CLIENT support, or even anticipate, changing consumer RELATIONShIPS behaviours • Eliminate monolithic, silo approaches The Client Intimacy Barometer shows that the role of • have all marketing and sales actions authorised and humans is key to any client intimacy strategy: 22% of prioritised by a central authority to ensure consistency. companies anticipate strong growth in this area and 45% believe that it is important to maintain a balanced mix STRENgThENINg CuSTOMER RELATIONShIP TOOLS between electronic relationships and human involvement, FOR gREATER MOBILITY depending on the phase in the client experience. The arrival of new distribution channels—such as cellular DEvELOPINg A SERvICE POLICY TO STRENgThEN telephones and smartphones—has also impacted client BRAND LOYALTY relationships. Cell phones are quickly becoming the worlds leading mode of communication. They make it possible The Customer Intimacy Barometer shows that companies to respond in real time, to directly access services or are still not innovative enough when it comes to services. information, and to take advantage of a relationship based Only 50% believe that they have developed an effective system. Ironically, according to the survey, companies are service policy. however, all companies that excel in building not giving high priority to future investments in mobile client intimacy have developed service policies that allow channels, unlike their investments in the internet and social them to stand out from the competition by offering services networks. Nevertheless, mobile channels make it possible to that excite their clients. Furthermore, by integrating these boost client intimacy, without being intrusive, and provide services within their product offering, companies boost clients with value added information and services that are their long-term profitability through a price policy that more adapted to their mobile situation; in transportation, improves the client experience as a whole instead of just tourism, distribution, and entertainment, for example, the product. this technology is being applied in myriad ways and such examples deserve to be examined in detail. TECHNOLOGyS LEADING ROLE DEvELOPINg TOOLS TO gAThER AND uTILISE CLIENT Any client intimacy strategy should also draw on robust, INFORMATION interoperable, flexible information systems that support mobility. Companies also believe that they will soon have new technological tools at their disposal to help them better gREATER FLEXIBILITY IN ALL OPERATIONAL understand their clients. They consider their plans to PROCESSES structure the various client databases scattered throughout their organisation and to improve use of this data as top The architecture of the information systems should not only priorities over the next two years. promote the free flow and sharing of information throughout the company but also the personalisation of products and EVOLUTION OF CORPORATE CULTURE services and dynamic production management. The IT department also needs to develop its relationship with all For companies that develop a client intimacy strategy, it entities within the company—sales, marketing, and finance, is important that employees at all levels be involved in the as well as operations, production, logistics, and R&D. development of a client centric culture. DEvELOPINg TRuLY INTEROPERABLE MuLTIChANNEL INvOLvINg ALL EMPLOYEES TO DEvELOP A CLIENT STRuCTuRES CENTRIC CuLTuRE The number of marketing channels—especially electronic To do this, companies need to provide their employees channels—is on the rise (websites, cell phones, social with information on client expectations and priorities, as networks, and blogs); these media bring together the well as their sources of satisfaction. Likewise, they need to essential information expected when a client makes initial listen to what their clients have to say, whether positive or contact. Organisations that want to be present across negative, via direct proprietary feedback channels (e.g., all channels need to make sure that their messages are their physical network) as well as virtual, non-controlled consistent with regard to the three main aspects of channels (social networks, blogs, etc.).14
  15. 15. Currently the feedback from physical contacts (local INvOLvINg CLIENTS IN BuSINESS PROCESSESsalespeople, physical networks) still plays a predominant (CO-CREATION, SuPPORT, SALES)role, but this should quickly change to take new consumerbehaviours (websites, social networks, mobile technologies) Although a culture of client service is being cultivated byinto account. A client centric culture also needs to be the worlds most successful companies, they need to go onesupported by client relationship management tools. These step further if they want to involve clients in their businesstools should allow the company to measure its image and processes:reputation, as well as its performance in the area of client • For marketing, which is traditionally based on the analysissatisfaction, throughout the process of client-company of market studies, it is necessary to involve clients notinteraction (before, during, and after the sale). only when qualifying ideas or product concepts or when gathering ideas via ideation platforms. It is also importantDEvELOPINg NEuTRAL WAYS TO INTERACT to engage fans throughout the product development and launch processes. In addition, traditional relationshipAccording to the Client Intimacy Barometer, most marketing ("push" marketing that may be somewhatcompanies have implemented rather traditional systems targeted based on specific points in the clients life) hasto listen to clients and understand their expectations, e.g., limits when it comes to a personalised, interactive dialoguesatisfaction surveys (34%), visit reports from salespeople that takes the client’s reactions into account to triggerin the field (25%), and post-purchase satisfaction pertinent messages.questionnaires (23%). Yet there is still progress to be • For client service, the objective is still to transform expertmade in order to move from a method that is primarily users into a first or second degree form of support onreactive to a more structured, supervised approach to forums or even to create interactive platforms and openclient intimacy—in the absence of the power to control knowledge bases for users.it—based on neutral systems for listening and responding • Lastly, for sales, the objective is to transform truly loyalto clients. These systems should be adapted to the new clients into advocates of the companys products.modes of communication being used by clients. 27%of the companies surveyed use these systems starting It is the companys duty to thus break the glass wall standingfrom the product design and development phases; 46% between employees and client s in order to benefit from thebelieve that they have made major progress in terms of wealth of ideas and support that consumers have to offer, atinformation sharing to improve interactions with clients. all organisational levels. wHAT THE FUTURE HOLDS... Client intimacy is key for any company that wants forming three-part working groups consisting of differentiate itself in the eyes of its clients. however, to employees, suppliers, and clients. embrace the changes in todays world, organisations need • In tomorrows world, companies will use the word to fundamentally transform their business model. "partners" more and more. • The boundaries between marketing, sales, and Each company needs to become an influencer that client relations will be broken down in favour of acts like the conductor of a symphony orchestra when overseeing its reputation—especially its reputation in the a more integrated model that promotes greater digital world—and that interacts with its environment responsiveness and interaction among the (clients and suppliers) even via channels over which it has players within the organisation. no control. • All of the companys analytical capacity will focus This (r)evolution, which we call "Client Intimacy 2.0", on understanding the social behaviour of its will be the driving force behind the following trends: clients, using a continuous monitoring approach • A new position will arise—that of the Chief to identify the influence that a client has over their Reputation Officer—who will be on par with friends and family, their risk of attrition, etc. the Communications Director on the executive • Lastly, the organisation will become thoroughly committee. and socially multichannel by integrating all • Employees—especially those who interact with social media as a new mode of communication clients—will spend as much time interacting and and interaction, with its own set of rules and posting on social media as performing their conventions, that enjoys the same status as the traditional work (responding to direct requests). traditional media being used today. • Suppliers and clients—especially those who are most involved in the company and its offering— will have spaces (both virtual and real) and will be assigned tasks within the organisation (support, For more information on the value disciplines model, see product design, promotion, etc.), thereby section 5. 15
  16. 16. 16
  17. 17. 2RECOVERY ORbREakdOwn? CLIENT INTIMACY BAROMETER RESUlTS 17
  18. 18. BREAKDOwN OF RESPONSES The interviews were carried out in seven European countries: France, Italy, the united kingdom, germany, Spain, Portugal, and Belgium. The group of respondents was composed solely of people from major corporations. Most of the companies surveyed employ a workforce of between 1000 and 5999 permanent employees. The breakdown of interviews by sector shows that a majority of the companies or organisations hail from the services sector, while industry represents a quarter of the interviews. COVERAGE 82 interviews were conducted in Europe. Targets: marketing, sales, distribution, and customer relations/customer service directors and managers. 16 questions were asked, focusing on five main themes: • Strategic alignment • Customer processes and organisation • Multichannel approach • use of customer information 9% France France 9% 23 % Industrie Industry 25 % Italie Italy Commerce Trade UK UK 10 % Transportation Transport Germany Allemagne Services 58 % Services Espagne Spain 10 % Portugal Portugal 15 % 21 % Belgique Belgium 7% 15 % Do sais pas Ne not know 10,000 employees or more 10 000 salariés et plus 16 % De 1 000 à 2 999 2,999 employees From 1,000 to salariés 6% 47 % From 6,000 6 000 à 9 employees De to 9,999 999 salariés 6% 25 % From 3,000 to 000 à 5 999 salariés De 3 5,999 employees18
  19. 19. CLIENT INTIMACY BAROMETER 2011STRATEGIC ALIGNMENTRegarding CSCs value disciplines model, most respondents (53%) consider customer intimacy to be the strategic areain which their company differentiates itself. This figure differs from country to country, with 100% of Belgian respondentsselecting customer intimacy as the key factor in company differentiation, while the uk had a greater mix of responseswith only 38% for customer intimacy. France is one of the top supporters of customer intimacy with nearly 60%. Anotherpoint to take away: almost half of all respondents consider simplification of the customer experience and improvement ofcustomer-company interaction to be major factors in any strategy to promote customer intimacy.KEY STRATEGIC AREA FOR COMPANY DIFFERENTIATIONAs consumer behaviour changes, companies need to be more mindful of the need to put customers first when designing andimplementing their strategy. Businesses seem to be aware of this evolution and have made customer intimacy one of theirtop strategic priorities; more than half of the respondents selected customer intimacy as a way to differentiate themselves.Approximately 30% of companies base their strategy on the concept of operational excellence and only 14% on productleadership. For more information on the CSC value disciplines model, see section 5 of this document. Ne sais pas Do not know Product leadership Supériorité produit 3% 14 % 53 % Operational excellence Excellence opérationnelle Customer intimacy Intimité Client 30 %CURRENT COMPANY MATURITY LEVELCompanies seem to have adapted their organisation to the growing need to integrate the customer in their strategy. Over 75%of respondents are attentive to their customers needs and desires in an effort to improve their offering and provide betterservice. One-third are going one step further and carefully listening to their customers and anticipating their changing needs,which allows them to exceed customer expectations. Only 20% still use rather limited approaches to customer intimacy and, atbest, content themselves with identifying such needs once the customer enters into a relationship with them. Little-known or unknown customers, Clients peu / mal Do not know Ne sais pas connus, raisonnement en offered focus on products/services and transactions completed termes de produits/services offerts et de transactions réalisées Anticipation of customer needs via Anticipation des besoins Customers are identified and Clients identifiés, systematic monitoring that includes clients via une écoute 2% reconnus à chaque recognised each time contact is made their expectations for change contact systématique, intégrant 6% leurs attentes d’évolution 13 % 33 % 46 % Mise en place de dispositifs to listen to Implementation of systems d’écoute clients afinto improve products/ customers in order d’améliorer l’offre et de mieux les servir services and better serve them 19
  20. 20. STRATEGIC ALIGNMENT MAIN OBJECTIVE IN PROMOTING CUSTOMER INTIMACY The main objective in any effort to foster customer intimacy is to simplify the customer experience and to improve the quality of the interaction between customers and the company, across all interaction and marketing channels. This helps reduce the cost of customer relationship management, while increasing the customer satisfaction rate. In a highly competitive environment, where it is increasingly difficult to understand the end client, companies are aiming to differentiate themselves by offering customers superior quality and by simplifying relations with the company. quality, at a reasonable cost, is a guarantee of recurrent future revenue. Ne not know Do sais pas Simplify the customer experience and Simplifier l’expérience client Développer le CA en Boost revenue by building improve the quality la qualité des et améliorer of interactions 3% favorisant la fidélisation, loyalty, repeat business, etc. with theinteractions,cut costs while customer to pour réduire les ventes récurrentes,… les coûts en augmentant le increasing satisfaction taux de satisfaction 26 % 43 % 28 % Improve products/services to gain new Améliorer l’offre pour gagner de nouveaux better meeting their needs customers by clients en répondant mieux à leurs besoins MAIN ACTIONS TAKEN DURING THE LAST TWO YEARS TO PROMOTE CUSTOMER INTIMACY Over the past two years, strategies focusing on customer intimacy have most often taken the form of efforts to improve the quality of the interaction between the company and the customer. In addition, the personalisation of customer relationships across all channels represents a key action for more than a third of the respondents. Over half of all respondents also mentioned personalisation of their product or service offering, as well as development of efficient, truly interoperable multichannel distribution policies. however, companies do not seem to have invested very much in projects to unify and enhance their customer databases. This can be explained by a lack of cross-company sharing of customer data, coupled with difficulties in using the information collected in an effective manner. Often, existing databases do not yield the results anticipated due to complex consumer behaviours, multiple customer identities, or boundaries between the different channels of interaction. Similarly, projects related to improving the operational performance of sales teams do not seem to have been a high priority in recent years, even though (as indicated below) local sales forces are a priority for businesses with regard to distribution channels. Also of note is the relatively low—or delayed—priority given to investment in new electronic channels (e.g. social networks).20
  21. 21. CLIENT INTIMACY BAROMETER 2011 Personalisation of customer relationships Personnalisation de la relation avec les 36 % clients sur lensembleall channels across des canaux Personnalisation de loffre pour to better Personalisation of the offering répondre 28 % au mieux aux attentes clients meet customer expectations Increasing Fluidification et interopérabilitédistribution the fluidity and interoperability of des canaux 27 % de distribution (multicanal) channels (multichannel) Développement de la rétention 24 % Increasing customer retention through via des actions de fidélisation loyalty-building initiativesRapprochement des organisations marketing, commerciale et service client pour assurer la cohérence des actions 22 % Collaboration between the marketing, sales, and customer service departments to ensure consistency Prise de parole sur de nouveaux 21 % canaux (réseaux sociaux, blogs,…) gaining exposure on new channels (social networks, blogs, etc.) Equipement des forces de vente 18 % pour améliorer lefficacité commerciale Equipping sales forces to improve their performance Unification et enrichissement des bases clients unification and enhancement of customer databases 16 %HIGH PRIORITY PROJECTS TO BE CARRIED OUT DURING THE NEXT TWO YEARS TO PROMOTECUSTOMER INTIMACYOne third of the respondents considered improved responsiveness and interaction quality to be their top priority inregard to customer intimacy. In order to support past projects, companies continue to invest heavily in systems thatcan turn each interaction with their customers into a positive experience. By improving customer service quality or,better yet, developing self-care systems, companies are able not only to maximise customer satisfaction but alsoreduce the cost of managing customer relationships.It is no surprise that companies second priority is to improve the ways in which they gather and organise customerinformation. Although companies are not taking any major steps to unify and enhance their databases in an effort toimprove customer intimacy, such projects will become increasingly popular with the development of new tools in thisarea. Structured, shared databases will provide a more comprehensive, up to date view of customers and will facilitatereal time responsiveness and interaction, as well as the use of such information "after the fact" to support marketingand sales decisions. Contrary to the trends we would expect as a result of the increasing demand to reduce time tomarket, increased interoperability of distribution and interaction channels and projects aiming to better integratemarketing, sales, and customer relations do not seem to be a high priority. Amélioration de la réactivité etand la qualité Improved responsiveness de quality 33 % of interaction with customers des interactions clients Enhanced customer informationla Enrichissement du recueil et de 30 % structuration des informations clients gathering and organisation Amélioration de lexploitation des 24 % Improved utilisation of customer information informations clients Implementation of relationshipen place de campaigns Mise marketing programmes 17 % danimation relationnelle greater use of electronic channels Renforcement des canaux dématérialisés 17 % (Internet, réseaux sociaux,…) (internet, social networks, etc.) Personalisation of the offering loffre pour Personnalisation de to better 16 % mieux répondre aux attentes clients meet customer expectations Improved relations between marketing, sales, and Amélioration des relations entre le marketing, 15 % les ventes customer service et le service clients Increased interoperability between distribution/ Renforcement de linteropérabilité des canaux de 12 % customer interaction channels distribution / dinteraction clients 21
  22. 22. CUSTOMER PROCESSES AND ORGANISATION STRUCTURING THE ORGANISATION TO MANAGE CUSTOMER INTIMACY Companies seem not only to have put the customer first when designing their strategy, but also to have aligned their organisation accordingly. As it happens, customer intimacy brings together the goals of the marketing, sales, and customer service departments; personalising the relationship with customers and the products and services offered requires a solid understanding of customers, which is only possible through cooperation among the various business functions that are in contact with consumers. Furthermore, the development of new channels of interaction and the need for greater responsiveness and interactivity with customers at every step in the business cycle serves to blur the boundary between these functions. Do not know Ne sais pas Clients gérés par plusieurs Customers are managed by multiple Directions interagissant Sales, marketing, and customer selon leurs propres objectifs based departments that collaborate Fonctions Commerciale,unified service functions are 6% on their own interests Marketing et Service Clients within a single department 14 % unifiées sous une seule Direction 36 % 44 % Customer relationships are managed Relation clients gérée au sein de plusieurs Directions très fortement within multiple departments that are intégrées bien qu’indépendantes highly integrated although they are independent of one another22
  23. 23. CLIENT INTIMACY BAROMETER 2011MULTICHANNEL APPROACHCompanies understand they need to develop a multichannel approach in order to reach customers who are increasinglyvolatile, busy, and demanding. A variety of channels of interaction are available to them, but those involving humancontact are preferred—especially in B2B industries. When it comes to having a multichannel approach, half of respondentsbelieve that existing processes and IT systems are still too fragmented, hindering true interoperability among the variouschannels that serve customers.IMPORTANCE OF THE CHANNELS USED TO INTERACT WITH CUSTOMERS64% of respondents consider local salespeople to be a major channel for interaction with customers. The importance of thischannel depends, to a large extent, on how much control the company has over customer relationships. The more control ithas, the more the company will be able to utilise and strengthen the direct relationship with the customer; the less control ithas, the more the company will invest in other channels, such as the internet and social media.57% of companies believe websites are an important channel, mainly because they allow customers to carry out theiractivities somewhat autonomously before, during, and after a sale, which also helps reduce costs.About 40% of companies consider social networks to be an essential channel for interaction with customers, which putssocial networks ahead of even call centres. Respondents seem to have abandoned, or de-prioritised, certain direct channels—perhaps because they are overly intrusive, or too expensive—in exchange for interactive channels (the internet and socialnetworks). 64 % Local sales forces Commerciaux "terrain" 57 % Website (and extranet in B2B) Site Internet (et Extranet en B2B) 48 % Paper mailings, email Courrier papier, mail 47 %Réseau physique (magasins, boutiques,offices, etc.) Physical network (stores, shops, agences,…) 39 % Social networks Réseaux sociaux Top 22 (A+B) Top (A+B) 35 % A- Very important A- Très important Call centres (incoming and outgoing calls) Centres dappels (réception et émission dappels) B- Important B- Important C- Somewhat important C- Moyennement important New terminals 17 % D- Not very important D- Peu important E- Not at all important E- Pas du tout importantNouveauxphones, smartphones, tablet computers, etc.) (cell terminaux (mobiles, smartphones, pad,…) Ne s’applique pas àmy company Does not apply to mon entreprise 23
  24. 24. MULTICHANNEL APPROACH HIGH PRIORITY CHANNELS TO BE DEVELOPED OVER THE NEXT TWO YEARS Companies have two priorities: 1 - To account for the increasingly autonomous, proactive behaviour of consumers, by developing tools to automate tasks via the internet or extranets (B2B). 2 - To invest in social networks and in blogs, forums, and other community spaces. In contrast, traditional channels of interaction, such as paper mailings or email, which are costly and may be seen as insufficiently targeted by some respondents, are less popular. The results are surprising in two regards: 1 - The low level of investment in new terminals (cellular phones, smartphones, touch pads), although this type of terminal is one of the most widely distributed. 2 - The high priority given to local sales forces (especially in B2B industries), which reaffirms the role of humans in the channels to be developed by the companies. Website (and(et Extranet en B2B) Site Internet extranet in B2B) 48 % Social networks Réseaux sociaux 39 % Commerciaux forces Local sales "terrain" 29 % Call centres (incoming and outgoing calls) Centres dappels (réception et émission dappels) 18 % Réseau physique (magasins, shops, offices, etc.) Physical network (stores, boutiques, agences,…) 15 % New terminals Nouveaux terminaux (mobiles, smartphones, pad,…) (cell phones, smartphones, tablet computers, etc.) 15 % Paper mailings, email Courrier papier, mail 8% ANTICIPATED CHANGES IN THE ROLE OF HUMANS—"PHYSICAL" CHANNELS VERSUS "ELECTRONIC" CHANNELS The degree of human contact in relationships with customers should be adapted depending on the business context. For 22% of the companies surveyed, the role of humans is expected to increase significantly, which means they will be strengthening the role of local sales forces and employees within the physical network. Only 2% of respondents felt that human contact will gradually disappear in favour of electronic relationships, and only in accordance with customer demands (avatars, websites, automated tasks, social networks). The situation that seems most likely is a mix between actual human contact and electronic relationships, depending on the phase in the customer experience (i.e., before, during, or after the sale). Almost half of the companies surveyed support this scenario. Disparition progressive of the gradual disappearance Ne sais pas Do not know du rôle de l’humainin favour of role of humans au profit du développement de relations electronic relationships dématérialisées Fort développementrole of humans Sharp increase in the 6% du rôle de l’humain 2% 22 % Mix between actual human contact Hétérogénéité (mix entre contact réel et relationships, and electronic Stabilité parthe same as today No change, rapport dématérialisation selon depending on the phase in the à aujourd’hui les étapes du parcours client) 25 % customer experience 45 %24
  25. 25. CLIENT INTIMACY BAROMETER 2011MATURITY LEVEL IN TERMS OF PLANS TO PERSONALISE THE CUSTOMER EXPERIENCETHROUGH ELECTRONIC CHANNELS (THE INTERNET, CELL PHONES, ETC.)The vast majority of the respondents (71%) have already invested in electronic channels, or at least plan to do so in the shortterm. however, companies either seem ill-equipped or it is too soon to measure the impact of this type of project; only 16% ofthe companies surveyed report positive outcomes in the form of increased sales, cross-selling, or increased loyalty. In othercompanies, either the ROI of such projects has not been clearly shown or it is too soon to assess ROI (23%). Ne sais pas Do not know Oui - Réponse à de réellesIn order toclients Yes – attentes NonNoOrientationinvestments in other - - Focus on des investissements meet actual customer et traduction claire en sur projects that offeravec ROI plus d’autres projets more certain ROI 8% 16 % matière dedefinite ROI demands; ROI clairement démontrable 24 % Oui - - After analysing the Yes Après analyse des 21 % résultats,the ROI offered by this results, ROI de ce type de projetproject was clear type of pas clairement 8% démontré No – Project to be implemented 23 % Non - Projet à court terme soon because it is an effective car moyen efficace de générer du revenu generate additional way to additionnel et de fidéliser nos clients loyalty revenue and to build among customers Partially - Projects carried out Partiellement - Projets in this regard, but too early to menés en ce sens, mais assess ROIde recul pour en trop peu évaluer le ROICOMPANY POSITION REGARDING MANAGEMENT OF THE MULTICHANNELToday, it is no longer sufficient to simply provide customers with multiple channels with which to interact with the company.These various channels must also be interoperable. The companies surveyed demonstrate a certain amount of insight as onlyone third of them offer their customers multiple channels of interaction that are truly interoperable; customers can switchfrom one to another seamlessly, according to their situation and desires. The other respondents represent companies that arestructurally single channel (even though their customers may have a real need for a multichannel system) or companies thatoffer their customers multiple, yet non-interoperable, channels for interaction. One possible explanation lies in the fact thatthe implementation of an inherently multichannel contact / distribution strategy often requires a profound transformation ofthe organisation and represents a major business investment (change in processes, de-compartmentalisation of informationflows, etc.). Ne sais pas Do not know Primarily single channel; Est majoritairement this meets customers monocanal. Cela correspond expectations aux attentes clients Customers are offered 4% Propose aux clients 15 % various interoperable plusieurs canaux d’interaction, interopérables of interaction channels 34 % Primarily single channel; Est majoritairement expect however, customers monocanal. Les clients 21 % multichannel capabilities ont pourtant de réelles attentes en matière de multicanal 26 % Propose aux clients plusieurschannels of Customers are offered various canaux d’interactions pas interoperable interaction that are not really réellement interopérables 25
  26. 26. USE OF INFORMATION THE BEST SYSTEMS FOR LISTENING TO CUSTOMERS AND UNDERSTANDING THEIR EXPECTATIONS Companies still tend to use fairly traditional systems to receive customer feedback and to track their expectations and needs. For example, 34% of the companies use customer satisfaction surveys and 23% use post-purchase questionnaires. For 25% of the companies surveyed, local sales forces play an important role in listening to customers. As they are in direct contact with consumers, they are perhaps best positioned to identify their demands. however, the results of the Barometer indicate that feedback from channels that are actually in contact with the customer (physical network, call centre, mail) is used quite sparingly, even though these channels often represent the customers first point of contact. In addition, projects involving the analysis of social networks or the implementation of direct information gathering tools are still rare. Only 12% of marketing and sales directors seem to value these types of systems for monitoring customer needs. Periodic administration of satisfaction surveys Administration périodique de 34 % baromètres de satisfaction visit reports from local salespeople Comptes-rendus de visites des 25 % commerciaux "terrain" Systematic administration of Administration systématique de questionnaires 23 % post-purchase satisfaction questionnaires de satisfaction post-achat Processing of letters, emails Traitement des courriers papier, mails 16 % FeedbackRemontée depuis les centrescentres from customer service call dappels 16 % au service des clients Ad hoc surveys Réalisation denquêtes ad hoc 15 % Feedback from the physical network 14 % Remontée depuis le réseau physique Analysis and presence on social networks Analyse et présence sur les réseaux sociaux 12 % Dedicated information gathering tools Mise à disposition des clients doutils 12 % made available to customers de recueil dédiés PRIMARY USES FOR THE CUSTOMER INFORMATION COLLECTED The Barometer shows that the information gathered by companies is actually used both for customer relationships (interaction quality) and for marketing (improved offering). Only 5% of respondents say that they make very little use of customer data. It is clear that respondents understand that customers have a unified vision of the company that does not always correspond to the companys actual organisation; in almost half of the companies surveyed, the marketing, sales, and customer service functions share the information they collect with other departments within the company, thereby improving the overall quality of interaction between the customer and the company. The information collected is shared with other Partage de linformation collectée avec les autres départements, departments; the information is used to improve 46 % utilisation pour améliorer globalement la qualité des interactions the overall quality of customer interaction UtilisationThe information is used in a reactive manner des informations de manière très réactive pour 31 % corriger des organisational or process-related issues to correct problèmes dorganisation ou de processus The informationdes informations collectées Utilisation collected is used mainly 27 % à des fins for marketing purposes principalement marketing 16 % The information is used in a reactive manner Utilisation des informations de manière to improve the product/service offering 27 % réactive pour améliorer l’offre The information is used systematically in the early stages Intégration systématique des informations dans les phases 26 % of the product design cycle amont de conception de nouveaux produits 12 % very little use of information Très faible utilisation des informations (collecte «au cas où») 5% (information collected "just in case")26
  27. 27. CLIENT INTIMACY BAROMETER 2011CUSTOMER SERVICE POLICyUSING CUSTOMER INTIMACY TO DEVELOP A SERVICE POLICYThere is somewhat of a balance between the companies that strive to provide innovative customer service versus thosethat merely offer basic services (18% vs. 22%). The remaining respondents (half of the total group) believe that they providethe same services as their competitors, but in a more efficient manner, which allows them to stand out thanks to increasedcustomer satisfaction.Most companies thus do not believe that service policies are a key factor in differentiating themselves from the competition;instead they seem to be under the impression that they only need to be on par with their competitors so as not to beoutdone. We thus see reactive attitudes when it comes to improving service quality, as opposed to true proactive strategiesto differentiate the company through customer service. Do not know Ne sais pas highly innovative customer Proposition deare offered, inbase, en ligne Basic services services de line with the Forte innovation en matière de service, very much ahead 10 % avec les concurrents of service quality competition in terms en termes services, très en avance par rapport de qualité des prestations offertes aux concurrents of the competition 22 % 18 % 50% Proposition de servicesidentical to those offered The services offered are identiques auxcompetitors, except with betterperformance by concurrents, mais meilleure delivery du "delivery" 27
  28. 28. SUMMARy COMPANY-WIDE POSITION ON CUSTOMER INTIMACY The vast majority of the companies believe that their processes and organisation are consistent and customer-oriented. This shows that companies, whether they base their competitive advantage on customer intimacy (53%), operational efficiency (30%), or product leadership (14%), are putting the customer first and adapting their organisation and strategy accordingly. Their use of the information collected, development of a multichannel approach, and implementation of a customer service policy are lower priorities; companies that have chosen customer intimacy as the way to differentiate themselves tend to focus more on aligning these strategies than companies that have chosen other value disciplines. In keeping with the previous question, only 50% of respondents feel that the implementation of an innovative service policy makes it possible to truly stand out in terms of customer intimacy. Consistent, customer-oriented 78 % Cohérence des and organisation processes processus et de l’organisation, orientés vers le client 73 % Strategy is aligned based on the concept Alignement de la stratégie sur le concept d’Intimité Client of customer intimacy 61 %The informationExploitation de linformation collectée collected is used and shared throughout et partage au sein de lorganisation the organisation 56 % Actual development of a Développement effectif d’une approche multicanal multichannel approach Top 22 (A+B) Top (A+B) A- Agree completely A- Tout à fait d’accord 50 % B- Agree B- D’accord An innovative customer des concurrents Différenciation services policy is C- Ni en désaccord, ni disagree C- Neither agree nor en accord via une politique de services innovante D- Pas d’accord D- Disagree used to stand out from the competition E- Pas du tout d’accord E- Disagree completely Ne s’applique pas à my company Does not apply to mon entreprise 28
  29. 29. CLIENT INTIMACY BAROMETER 2011SECTOR-WIDE POSITION ON CUSTOMER INTIMACYIn general, the companies surveyed feel they are working in a business sector that is, as a whole, less focused on customerintimacy than they are (this applies to all sectors).This observation is especially apparent for the item "Strategy is aligned based on the concept of customer intimacy" (only 54%of respondents believe that the sector is aligned, whereas 73% of respondents claim that their company itself is aligned). 74 % Consistent, customer oriented processes Cohérence des processus et de l’organisation, orientés vers le client and organisation 57 % An innovative customer services policy is Différenciation des concurrents via une politique de services innovante used to stand out from the competition 55 % The information collected is used and Exploitation de l’information collectée et shared throughoutde l’organisation partage au sein the organisation 54 % Strategy is aligned based onstratégie sur le Alignement de la the concept of concept d’Intimité Client customer intimacy Top 22 (A+B) Top (A+B) A- Agree completely A- Tout à fait d’accord 50 % B- Agree B- D’accord Développement effectif d’une Actual development of a C- Ni en désaccord, ni disagree C- Neither agree nor en accord approche multicanal D- Disagree multichannel approach D- Pas d’accord E- Disagree completely E- Pas du tout d’accord Ne s’applique pas àmy company Does not apply to mon entrepriseCOMPANY-WIDE VS. SECTOR-WIDE POSITION ON CUSTOMER INTIMACY (COMPARISON OFAVERAGES, ON A 5-POINT SCALE) 4,2 33 %In keeping with the previous question, companies de lorganisation, Cohérence des processus et give a more positive self-evaluation of themselves in terms of customer orientés vers le clientintimacy than do their competitors from the same sector, except for the item "An innovative customer services policy is used to 4stand out from the competition." While it may seem easy to be objective regarding the consistency of the products and servicesoffered by one’s competitors, it is harder to judge their customer intimacy policy in light of ones own efforts. 4 Alignement de la stratégie sur le concept dIntimité Client 3,7 Consistent, customer oriented processes and 4,2 33 % Cohérence des processus et de lorganisation, organisation orientés vers le client linformation collectée 3,8 Exploitation de 4 et partage au sein de lorganisation 3,6 Strategy is aligned based on the concept of 4 Alignement de la stratégie sur le concept dIntimité Client Développement effectif 3,6 customer intimacy 3,7 d’une approche multicanal 3,5 3,8 The information collected is used andcollectée Exploitation de linformation shared et partage au sein de lorganisation 3,5 Différenciation des concurrents throughout the organisation 3,6 via une politique de services innovante 3,8 3,6 Développement effectif Actual development of a multichannel approach d’une approche multicanal Company Organisation 3,5 Secteursector Business d’activité An innovative customer services policy is used to 3,5 Différenciation des concurrents stand out from the competition via une politique de services innovante 3,8 Organisation 29 Secteur d’activité
  30. 30. 30
  31. 31. 3RECOVERY ORbREakdOwn? CLIENT INTIMACY BAROMETER TESTImOnIalS 31
  32. 32. "THERE IS apSYCHOlOgICalISSUE In anTICIpaTIngTHE CRISIS, wHICHCaUSEd a CHangEIn COnSUmpTIOnpaTTERnS."32
  33. 33. TESTIMONIALSgUSTaVO baRRETOCOORDINATINg MANAgER MARkETINg DEPARTMENTOCIDENTAL SEGUROSMILLENNIUMBCP AGEASHOW HAVE mARKETS AND CUSTOmERS REACTED TO THE ECONOmIC CRISIS? mANAGERS IN THE BANKINGAND INSURANCE SECTORS CAN HELP US ANSWER THIS qUESTION. WE SPOKE WITH GUSTAVO BARRETO,COORDINATING mANAGER OF THE mARKETING DEPARTmENT AT OCIDENTAL SEGUROS mILLENNIUmBCPAGEAS, ABOUT THE FINANCIAL SITUATION AND HOW mARKETING CAN ADAPT TO TAKE ADVANTAGE OF THEOPPORTUNITIES IT OFFERS.wHAT IMPACT HAS THE CRISIS HAD ON yOUR customers also recognise our focus on quality of productFUNCTION? and service: in non-life, for instance, we carried out an independent survey on Médis, our health insurance brand,There was a clear impact in 2010, and I anticipate the same and the satisfaction index of our customers was 97%. Wewill be true for 2011. But I would say the greatest impact are very proud to have satisfied customers and employees,was in 2008, and it was on the underlying financial risks which is a driver for improving the top line and profitability.of investment products. We had to adjust our investmentpolicy and the asset mix accordingly; however, this turned wHICH CONCRETE ACTIONS ARE yOU TAKING TOout to be a good opportunity to reduce the risk of the REFOCUS THE ATTENTION OF yOUR ORGANISATIONportfolios and to communicate it to our customers. We ON THE CUSTOMER?kept our finger on the pulse of the market, and when shiftsoccurred – for example, when credit spreads significantly In 2011 we are adapting the marketing plan to reflect ourincreased and deposit interest rates came down – we commitment to client focus and our ‘Four Ps’ strategymade sure our customers were able to take advantage of (product, price, place and promotion). We are focusingthe market environment. In non-life, especially in lines of on the entire customer experience, from prospectingbusiness such as property, automotive and health, it was through to purchase and then on to loyalty and ultimatelyimportant to be very close to our customers. This allowed retention. Client focus, at individual or corporate level, isus to improve our understanding of our customers’ in my opinion the greatest commitment a company canneeds, which in turn boosted customer acquisition, undertake.loyalty and retention. In fact, there is a psychologicalissue in anticipating the crisis, which caused a change in wHAT IMPACT HAVE SOCIAL MEDIA HAD ONconsumption patterns. The crisis also resulted in customers THE wAy IN wHICH yOU INTERACT wITH yOURpaying greater attention to the trade-off between price CUSTOMERS?and perceived risk. People interact to a much greater extent today, and IHOw HAS CUSTOMER BEHAVIOUR EVOLVED IN think word of mouth is in fact heavily influenced by theRECENT yEARS? HOw HAS yOUR ORGANISATION internet. The impact one can have by using email, socialADAPTED TO THESE CHANGES? networks or blogging is far larger than one can achieve in interpersonal relationships; given this, it is essentialThere are of course different behaviours and approaches. that businesses adapt and remain alert to these changesThe concerns of financially aware customers are often in consumer behaviour. We do this at all levels, not onlyrelated to the risk of the underlying assets, in particular through the internet but also by examining our brandthe solidity and safety of the credit issuers. They therefore positioning and what people say about us. Our approachtend to prefer products with shorter maturities and cash is to build the entire brand structure on solid foundationscollateral. We thus needed to adjust our investment strategy that we can maintain and reinforce. With this in mind, weto this new risk perception and to the corresponding ask for independent external surveys every year, we closelyproduct appetite: our response was to increase the weight monitor results and we take appropriate action. We use aof sovereign debt of the strongest economies in our 360° approach to ensure that we evaluate the perceptionsproducts. And our strategy delivered very flattering results: of all stakeholders.Ocidental vida was awarded best life insurance companyfor the second consecutive year, based on criteria such assolvency, profitability, financial strength and solidity. Our 33
  34. 34. "CUSTOmER InTImaCY,OR CRm 2.0: THE dawnOf a nEw ERa."34

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