Building better Customer Experiences at Credit Suisse November 2007 Bojan Blecic, VP Customer Experience Client Insight Management
Credit Suisse - Facts & Figures 2006 Source: http://www.credit-suisse.com/investors/doc/facts_figures_usd_en.pdf <ul><li>Founded in 1856 </li></ul><ul><li>Active in over 50 countries. </li></ul><ul><li>Approx. 45'000 employees </li></ul><ul><li>Assets under management in trillions </li></ul><ul><ul><li>$ 1.2 </li></ul></ul><ul><li>Net income in billions </li></ul><ul><ul><li>$ 9.8 </li></ul></ul>
A lot of customers are interacting with us <ul><li>Every month in Switzerland... </li></ul><ul><li>More than 225,000 calls are handled by the contact center </li></ul><ul><li>Approximately 600,000 client visits are served in our branches </li></ul><ul><li>More than 3.5 million envelopes are mailed out </li></ul><ul><li>There are over 400,000 log-ins into the e-banking tool </li></ul><ul><li>...we have countless personal interactions with clients and prospects.... </li></ul>
Why we started to care deeply about the Credit Suisse Experience
• Empfehlungsbereitschaft - in der Schweiz Achtung kleine Fallzahlen! 37% 42% 58% 79% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Credit Suisse Retail Banking Clients Percent of clients willing to recommend main bank Source: Basisbankenstudie 1. Semester 2004 other banks Gap to leading position
- Vorausgesagte Verlagerung der Aktivitäten zu einer anderen Bank (2) Customers considering to change Bank (including:"yes, I will change soon / " yes, I have already thought about it") 25% 25% 17% 13% 12% 12% 6% 9% The risk of loosing customers is higher than the average... 1% 1% 2% 2% 1% 2% 3% 3% 8% 5% 10% 10% 12% 15% 22% 22% Credit Suisse other banks yes, will change soon yes, I am thinking about it Source: Basisbankenstudie 1. Semester 2004 Ø 14%
What happens when we 'think' we know what is good for the customer Discretion? Comfort? Clarity? Everything here is rarely, if ever seen ?
Even the language we use with our customers isn't quite what they need... Within a framework agreement (duration of 1 - 10 years), individual tranches (duration of 3 - 12 months) are fixed. You can choose your preferred duration for a tranche, giving you direct influence on the length of your fixed interest rate periods. Once a tranche has expired, you can select a new tranche within your framework agreement depending on how you see future interest rates developing. Alternatively you can take the opportunity in accordance with the agreement - to switch to a different mortgage model from our extensive range.
At the intranet as well, there are some things that might be confusing users....
So, why do bad experiences ever get created in the first place?
• Empfehlungsbereitschaft - in der Schweiz Figure out what went wrong Customers react Achtung kleine Fallzahlen! The reason that customer experiences are poor is down to how they are created within the business Launch it Build it Generate ideas internally for new products I just don't understand it... Hey, I've got a great idea for a new product...brochure... website...HR policy... branch...software... Customers are gonna love it!
Culture patterns of human activity and the structures that give them significance and importance . http://en.wikipedia.org/wiki/Culture
Focus on the customer! Be customer focused! How the heck do I do that?
We have our mouths full of customers, but our practice is full of ourselves. M. Rijsberman
The First step in improving any customer experience is understanding that customer experience. The first step in understanding a customer experience is developing....
"You can't know your customer until you've gone through your customer experience yourself." - CX Team "You can't know a person until you've walked a mile in their moccasins." - American Indian Saying
Filling out a form is not always easy... ...in fact 18.5% of the forms have mistakes Increase in comprehensibility in content and usability Reduction of error rate in form completion to 9.3% (from 18.5%) Higher external and internal customer satisfaction ~ 50 % less mistakes Authors Clients
Experience Immersion is a technique you can use to develop customer empathy in yourself and those around you.
• Empfehlungsbereitschaft - in der Schweiz Achtung kleine Fallzahlen!
" If you tell me I will forget, If you show me, I will remember If you involve me, I will understand " Confucius
Private Banking Retail Banking Corporate Banking A B C A B A B C Very satisfied Satisfied Dissatisfied