Financial Services Forum presentation highlighting how brand is included (or not) in financial services companies customer experience. With specific examples where branded CX is working and how to ensure brand stays on the agenda.

2. “THE IMPACT OF BRAND ON
CUSTOMER EXPERIENCE”
IMPACT

3. WE HELP BRANDS ACHIEVE A COMMERCIAL
ADVANTAGE FROM CUSTOMER STRATEGIES
COMMERCIAL
CUSTOMER EXPERIENCE CUSTOMER VALUE PROPOSITIONS
INSIGHT OPTIMISATION MARKETING RESOURCES EFFECTIVENESS
christopherbrooks@lexdengroup.com | Lexden Ltd
The Courtyard, Wind Hill, Bishops Stortford, Herts, CM23 2ND
+44 (0) 1279 902205| +44 (0) 7968 316548 | lexdengroup.com | @consultingchris

4. BRAND IS AN EASILY IDENTIFIABLE
DIFFERENTIATING MARQUE IN GOOD ADVERTISING
IDENTIFIABLE

5. BRAND IS LESS RECOGNISABLE WHEN
PRESENTED THROUGH CUSTOMER EXPERIENCE
We put our customers' needs first
We will listen and then help you find solutions that meet
your needs
We make banking easier
We will help you bank with us in the simplest and most
convenient way
We are there whenever you need help
We will take personal responsibility when you need
support from us
We are fair and honest
We will explain the features and pricing of our products
clearly and simply
“WE’RE COMMITTED TO BECOMING THE UK’S
MOST HELPFUL BANK”
Customer charter is primary deliverable of
customer experience strategy
RECOGNISABLE

6. IF OUR SERVICE
WAS ANY MORE
PERSONAL WE’D BE
DOING YOUR
LAUNDRY
BRAND IS LESS RECOGNISABLE WHEN
PRESENTED THROUGH CUSTOMER EXPERIENCE
RECOGNISABLE

7. CONFUSION OVER POLICY WORDING PUT THE
DAMPENERS ON ONE CUSTOMER’S HONEYMOON
M&S couldn’t get RAC to budge. So
Flo persisted with RAC who agreed
a £99 refund off the new policy.
Flo, hubby and child arrive back
from Marrakech honeymoon.
Drove home in hubby's car &
broke down on M6.
Flo wasn’t convinced she wasn’t
under her original policy, so
contacted M&S and found she was
covered all along!
Flo has been left with a poor
impression of RAC & M&S because
their customer experience is broken.
Called RAC (member via M&S) to
check if Flo’s cover extended to
other cars. Told it wasn’t and would
need to take new policy out instead.
‘I called my Dad to
get the details
because I wasn’t
happy getting in our
car to retrieve them
from the glove box,
because it was
smoking’
‘They kept saying
it was my fault for
calling a wrong
number!!! And of
the £99 I only ever
received £42’
THE STASIS THE QUEST THE OUTCOME
THE TRIGGER THE REVERSAL
Customer used to have high regard
for RAC, but was left feeling
vulnerable and exploited.
M&S didn’t push as hard as they
could either which disappointed Flo.
‘I took out a new
policy and I was
told the car would
be towed and
inspected and
taken max another
50 miles if needed.
We were 100 miles
from home so had
to go to Dad’s, as
closer, instead. Not
ideal end to hols’
The problem still exists and no doubt
more customers will get caught too.
EXAMPLE FROM LEXDEN’s VEXVOX BRAND REPORT – HIGHLIGHTING EMOTIONAL
IMPACT OF POOR CUSTOMER EXPERIENCE ON BRAND PERCEPTION

8. WHAT CAN HAPPEN WHEN BRAND IS BAKED
INTO THE CUSTOMER EXPERIENCE
BAKED
SOURCE: NUNWOOD TOP 100 CX BRANDS IN USA 2013

9. LOCAL & FUN BRAND POSITIONING BROUGHT
TO LIFE THROUGH CUSTOMER EXPERIENCE
BRAND POSITIONING
Economist – “Barclays predicts by the end of next year, Umpqua’s return on equity will be 14%, far above the average”.
-“MAKING EVEN THE MOST
MUNDANE TRANSACTION A TREAT”

10. HOW MUCH BRAND IMPACTS THE CUSTOMER
EXPERIENCE IS DEFINED BY HOW THE BUSINESS
APPROACHES CX
CUSTOMER

11. Make sure brand is involved from the start. It’s a challenge because the first improvement
phase of most CX programmes focus on fixing those ‘sector basics’ which driving down
sector performance rather than define the brand apart from others.
Reproduced with kind permission from cxtalent.co.uk

12. BRAND ISN’T REPRESENTED AT THE START OR
EVEN WHEN THE GONGS ARE HANDED OUT!
28 AWARDS
850 ATTENDEES
0 BRAND MANAGERS
Winner
Insurance
Services
200 ENTRIES
BRAND

13. WHAT YOU DO WORKS WELL
FOR ME. IT ALLOWS ME TO
GET ON WITH MY DAY
YOU ALWAYS MAKE AN
IMPORTANT DIFFERENCE,
ENABLING ME TO GO FORWARD
WITH MY LIFE PLANS
WHAT GOOD CUSTOMER
EXPERIENCE DELIVERS
WHAT BRAND DIFFERENTIATED
CUSTOMER EXPERIENCE DELIVERS
‘FIX’ ‘BUILD’‘MAINTAIN’ ‘DIFFERENTIATE’
HOW THE BUSINESS
APPROACHES IT
‘PRESERVE’
HOW THE BUSINESS
APPROACHES IT
‘EFFICIENT’‘BEST PRACTICE’ ‘LEADING PRACTICE’
‘PERFRORMANCE STANDARDS’ ‘BRAND STANDARDS’

14. BRAND COMES TO THE PARTY TOO LATE
OPERATIONS
BRAND
LATE
Part 1
Part 2
MODEL USED BY LEXDEN AS PART OF ‘HOW MAD IS YOUR CX?’ REVIEW

15. MOST CUSTOMER EXPERIENCE STRATEGIES
PRIORITISE MAINTAIN TO REDUCE COST OF ISSUES
Source: Developed from workings of Dr. P. Klaus, Brunel University
MAINTAIN
LEXDEN PROVIDE A ‘HOW MAD IS YOUR CX?’ REVIEW TO HELP CLIENTS UNDERSTAND WHAT ROI
THEIR CX STRATEGY WILL DELIVER AND HOW TO MAKE IT MORE VISIONARY AND PROFITABLE

16. CUSTOMER JOURNEY MAPPING TYPICALLY
PRIORITISES ISSUES FOR IMPROVEMENT
MAPPING
APOLOGIES FOR BLURRED IMAGES – THESE ARE BRAND ‘A’S LIVE END TO END RENEWAL
PROCESS MAPS. LEXDEN PROVIDE FULL MAPPING CAPABILITIES WHICH CAN BE SHARED
Defining ‘what matters most’ at which moment of truth (MOT) or moment of vulnerability and exposure (MOVE) is
extremely powerful. However, identifying where the brand is demonstrating differentiation is less straightforward. But
without this applied, customer experience teams destroy brand value created (often unintentionally) in an attempt to
make a touch point more efficient for the customer.

17. CUSTOMER FEEDBACK IS A CRITICAL BRAND
EXPERIENCE OFTEN OVERLOOKEDEXPERIENCE
Often managed by a research house and seen as an administrative function, feedback surveys are critical brand
experience touchponts. Not only should they look and feel like they’ve come from the brand (unless intending to
position them as independent research), but how they are managed needs to be on brand too. If the survey asks for
feedback, ALL queries should be dealt with and dealt with through the tone of voice of the brand. If the brand is the
‘helpful’ brand the worst outcome is for a consumer to think the response wasn’t very helpful! A well executed
brand reflecting survey will also result in an uplift of performance too.
Example of a poorly produced survey by research house for Eurostar. The client only sees the results, meaning they
think their customer experience is worse than it is resulting in unnecessary investment in improvements, where as the
only improvement needed was the feedback survey. http://www.slideshare.net/consultingchris/the-continuous-study-
is-part-of-the-customer-experience-too
DAMAGING BRAND
ENHANCING BRAND

18. CX PERFORMANCE MEASUREMENTS
TYPICALLY EXCLUDES THE BRAND IMPACT
PERFORMANCE
GI providers customer experience measures (without brand impact included)

19. AT LEXDEN , OUR APPROACH PRIORITISES
KEEPING BRAND PART OF THE CX STRATEGY
Keep an ongoing-
’relationship’
objective mind-set
Prioritise customer
experience
opportunities
which impact and
extend the
relationship
Pre-empt and fulfil
‘what matters
most’ to customers
at different touch
points
Build brand
differentiation into
every experiences
to reinforce
customer’s
preferences
1. Keeping pace with the customer
2. Keeping ahead of the competition
CXOPERATINGPRINCIPLESWEAPPLY
LEXDEN,

20. BEWARE OF ‘LEAN’ IMPROVEMENT APPROACHES.
MAKE THE PROCESS BRANDED AND OUR
EXPERIENCE SHOWS THE OUTCOMES WILL BE TOO
BRANDED
LEXDEN LICENCED IMPROVEMENT GAME DESIGNED TO ENSURE IMPROVEMENTS ARE 100% BRAND
DEFINING. AS LICENCED BY PARK INN & RADISSON HOTELS. FULL DETAILS AVAILABLE ON REQUEST

21. IN SUMMARY, A FRAMEWORK TO CREATE A
BRAND DIFFERENTIATING CUSTOMER EXPERIENCE
MAINTAIN
ADVANTAGE
DIFFERENTIATE
BRAND

22. christopherbrooks@lexdengroup.com | The Courtyard, Wind Hill, Bishops Stortford, Herts, CM23 2ND
+44 (0) 1279 902205 | +44 (0) 7968 316548 | lexdengroup.com | @consultingchris