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Branding Ma Francis
 

Branding Ma Francis

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    Branding Ma Francis Branding Ma Francis Presentation Transcript

    • Special Libraries Association Branding: It’s Importance and Impact M.A. Francis National City 28 February 2003
    • Brand is . . . . . . a promise by a company to its customers that differentiates its products and services over time. The objective is customer loyalty.
    • Understanding the Brand Promise We want to do business with you on your terms-- when you want, where you want. Low prices are just the beginning. With our singular focus on customer service, we provide the most useful and ethical financial services in the world. With all of us working together to provide our customers with the best service and products, we are forming a model for the industry’s future. We are Citigroup. Being the most successful computer company in the world at delivering the best customer experience in markets we serve. THE RITZ-CARLTON We are ladies and gentlemen serving ladies and gentlemen. The brand promise defines the customer’s expectations for the experience.
    • Assessing Moments of Truth … and assessing their impact on customer's perceptions of the organization and their dependence on employees. Ability to improve customer perception of organization Ability to Weaken customer perception of organization Involves Direct Human Contact Problem Resolution Receive Statement(s) or Bill( s) Place Automated Transaction Routine “Customer” Service Branch Visit Visit Web Site View Advertisement Open Account Source: Mercer
    • Changing Customer Satisfaction Impacts “Business” Highly Satisfied to Highly Satisfied Highly Satisfied To Satisfied Highly Satisfied To Satisfied Satisfied To Less Than Satisfied Satisfaction Over Time What Happens to “business” When Satisfaction Changes? ($1,400) ($1,000) $4,500 $4,800 $5,000 $4,000 $3,000 $2,000 $1,000 $0 ($1,000) ($2,000) Source: HBR, March-April 1999
    • Challenges: The Employee Perspective Employees often experience severe disconnects between what customers expect and what they are able to expected to do. Customer Expectations Fast Service Personalized service Convenience One-stopping shopping Answers Problems resolved Appropriate cross-sell Employee Perspective “ I’m rewarded for servicing as many customers as possible.” “ I don’t have the customer information I need.” “ We’re understaffed.” “ Other departments are not responsive.” Brand Promise
    • Misaligned Investments Many companies under-invest in employees, which can dilute the impact of investments in brand, product development, and technology. 100% Importance 100% Spend Image Perceptions Customer Service Perceptions Product Perceptions Other Community Activities PR Customer Advertising Customer Service Training Product Advertising Investments Relative to Brand Impact Source: Mercer Consulting Group Disguised Client Example Importance to Building Brand Current Investments
    • Brand at “Special Libraries Association” Decade of Name Change Like many companies, you have invested in image advertising:
      • 1992
      • 1997
      • 1998
      • 2000
      • 2001
      • 2002
      • 2003
      What is “your” history?
    • Current Positioning The National City example: The gateway to a broad range of financial services, National City is in business to bring together resources for our customers Working with them, we identify and offer the best solutions that meet their financial needs at every stage of their business and personal lives And by providing the assurance of continuity and excellence, our friendly, knowledgeable and experienced employees make it easy to do business with us.
    • The Data Implies Change
      • The current positing statement is sound but we’d like to update it to reflect current customer demands
      • The positioning statement should be crafted as a Brand Promise
      • NCC has opportunity to differentiate itself with customers by delivering consistently and intentionally on its promise
    • Building the Customer Champion Culture
      • How do you get there?
      • Agreement on need for new Brand Promise
      • Consensus around Customer Champion Brand Promise
      • Motivated management team
      11
    • Building the Customer Champion Culture
      • The Key Implementation success factors
      • Define the roadmap and the destination
      • Commit to implementation
      • Be prepared to stay the course
      • Communicate and Reinforce
      12
    • The Brand Promise Branded Customer Experience Micro-Market Segmentation Revenue Initiatives Service Quality Business Process Improvement Leadership Initiative Compensation (Incentives) Sale and Service Culture Employee Hiring/ Retention Internet Technology, Operations Investments Marketing/ Advertising 13
    • Brand Strategy Development
      • A team should utilize multiple sources to develop the brand positioning.
      • Executive interviews
      • Review of existing customer / employee research
      • Competition review
      • Assessment of key value drivers and performance gaps
      • Strategic alternatives
      14
    • Brand Strategy Development
      • Feedback from customers, employees and management
      • Preliminary discussions with other Lines of Business
        • - What is their strategy?
      • Preliminary discussions with the Leadership Development Group to select the implementation teams
      15
    • Brand Positioning Target Audience For Customers who expect to be regarded as valued individuals Frame of Reference - Markets served - Demographics - Footprint - Competition 16
    • Brand Positioning State the Brand Promise “ National City” cares about what’s right for customers 17
    • The “Customer Champion” Position at National City Key Elements
      • Provide high level of overall service quality (convenience, speed and accuracy)
      • Conveys sense of recognition and appreciation for the customer’s business
      • Resolves problems in an efficient and personalized manner
      • Proactive as well as responsive
      • Provides unbiased financial advice
      • Always offers the customer fair value
      • Establishes and nurtures long-term relationships
      18
    • National City cares about Doing what’s right for customers Peace of Mind Recognition/ Self Esteem Service Quality Customer care Proactively Trusted Advice Ease of Doing Business Program Breadth + Emotional Rational National City Brand Promise 19
    • Emotional Peace of Mind Recognition /Self Esteem
      • Offers fair value
      • Bank takes ownership of customer problems
      • No surprises, no hidden charges
      • Provides personalized service at each point of contact
      • Shows appreciation for each customer’s business
      • Values each customer’s business
      • Recognizes customers by name
      20
    • Rational Service Quality / Customer care Trusted Advice Ease of Doing Business Product Breadth Proactively
      • High levels of accuracy, speed, and convenience, exceeding customer expectations
      • Demonstrates appreciation
      • Rewards loyalty
      • Friendly environment
      • Staff anticipates problems or needs
      • Staff looks for ways to help customer achieve financial goals
      • Customers are informed about better options to manage their money
      • Staff provides trusted, unbiased and sound advice
      • Customers are referred appropriately throughout the organization
      • Each channel provides a convenient and efficient way of doing business with NCC
      • Simplified products and pricing, allowing customers to understand what is best for them
      • Efficient problem resolution and error correction
      • Offers full range of products for life stages / financial situations
      • Products are focused on wealth creation
      • Products offered are high performance whether proprietary or not
      21
    • Implementation and Communication
      • Accountability
        • Employees ARE the brand
        • Take responsibility for customer satisfaction EVERY TIME and “delight” them occasionally
        • - Resolve problems without blaming others
      Employee Behaviors 22
    • Employee Behaviors
      • Respect
        • Treat one another with respect; value differences across LOB’s and units
      • WE ARE ONE
        • - Treat each customer interaction with respect, empathy, in an atmosphere of caring
      23
    • Employee Behaviors
      • Friendliness
        • Greet customers politely; recognize them and their relationships
        • Listen
        • Thank them for their business; make it easy for them
      24
    • Next Steps
      • Step #1 Invest in the people delivery of brand
      • Step #2 Introduce promise elements in specific customer interactions with greatest customer value
      • Step #3 Communicate the promise to customers Driven by success with #1 and #2, not by time
      • Examples: Problem Resolution
          • Customer Care
      25
    • Invest in the People Delivery of Brand Training Communication HIRING Recognition & Reward Measurement “ The Brand” 26