Clydesdale bank presentation - Business week 2015
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Customer understanding is a source of sustainable growth. This focus needs to be driven by the leadership team to be part of the company culture, mission and values. It is then cascaded down to engage and most importantly empower employees, creating value in their interface with customers. Only then, actions such as mapping the customer journey, marketing retention and save tools can be created and measured
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Clydesdale bank presentation - Business week 2015
- 2. On a scale of 1 to 5, how successful is your company at customer reten3on? www.sophieappleby.com
- 3. The objec3ve £££ £ 01www.sophieappleby.com
- 4. Outcomes • Ac3vely listen to customers for ac3onable insights • Adjust your company culture & align employees • Create strategic and tac3cal tools – from Customer Journey to prac3cal tools • Monitor with dashboard 02www.sophieappleby.com
- 5. “Walk the talk.” 03www.sophieappleby.com
- 6. Agenda • Intro • Facts : Ignoring customers Vs Engaging customers • What it means : – Customer Understanding & Customer Experience – Culture & Alignment – Reten3on Tool Box Quick Review: Marke3ng & Churn – KPI • Q&A: 20mn 04www.sophieappleby.com
- 7. Agenda • Intro • Facts : Ignoring customers Vs Engaging customers • What it means : – Customer Understanding & Customer Experience – Culture & Alignment – Reten3on Tool Box Quick Review: Marke3ng & Churn – KPI • Q&A: 20min 05www.sophieappleby.com
- 8. $6 Trillion Source : Accenture 2014 06www.sophieappleby.com
- 9. “It costs 6–7 7mes more to acquire a new customer than to retain an exis7ng one.” Source : Bain & Company 07www.sophieappleby.com
- 10. Agenda • Intro • Facts : Ignoring customers Vs Engaging customers • What it means : – Customer Understanding & Customer Experience – Culture & Alignment – Reten3on Tool Box Quick Review: Marke3ng & Churn – KPI • Q&A: 20min 08www.sophieappleby.com
- 11. The cost of ignoring your customers An average company loses between 10 and 30% of its customers annually. 89% of customers switched to a compe3tor following a poor customer experience. It cost £30K to replace an employee. 29% of customers will share a bad experience on social media. 09www.sophieappleby.com
- 12. The reward of caring about your customers Increased reten/on rate by 5% increases your profit by at least 25%. The probability of selling to an exis3ng customer is 60 to 70%. The probability of selling to a new prospect is 5 to 20%. Happy customers, who get their issue resolved, tell 4-‐6 people about their posi3ve experience. More than 50% of customers will look at other customer comments before buying. Engaged employees are 87% less likely to leave the organiza3on than the disengaged. 10www.sophieappleby.com
- 13. Agenda • Intro • Facts : Ignoring customers Vs Engaging customers • What it means : – Customer Understanding & Customer Experience – Culture & Alignment – Reten3on Tool Box Quick Review: Marke3ng & Churn – KPI • Q&A : 20min 11www.sophieappleby.com
- 14. About them … “The non-‐stop customer” • Informed and powerful • Best deal / VFM / Service • A unique rela3onship 12www.sophieappleby.com
- 15. About them “The non-‐stop customer” • Informed and powerful • Best deal / VFM / Service • A unique rela3onship Not you • Listen, understand and act • Recognise & Care • Be transparent and honest • Value => the emo3onal experience • Be on brand 13www.sophieappleby.com
- 16. Unique Journeys 14www.sophieappleby.com
- 17. Mul3 dimensional impacts +10 to 15% + 20 to 30% + 20% -‐15 to 20% Source: Mckinsey 2012 15www.sophieappleby.com
- 18. Crea3ng the right customer journey Iden3fy Key Journeys Understand Current Performances Redesign Experiences & Engage Sustain, Scale, Iterate 4 3 2 1 16www.sophieappleby.com
- 20. Agenda • Intro • Facts: Ignoring customers Vs Engaging customers • What it means : – Customer Understanding & Customer Experience – Culture & Alignment – Reten3on Tool Box Quick Review: Marke3ng & Churn – KPI • Q&A: 20min 17www.sophieappleby.com
- 21. Top Down … • Vision, value & culture • A program with: – Governance structure – Time – Budget – Measurements 18www.sophieappleby.com
- 23. 4 fundamental ques3ons Why are you in business? Where is this value created? Who is crea3ng this value? What is the manager’s role? ⇒ To create value ⇒ In the interface btw employees and customers ⇒ Employees ⇒ To encourage, infuse and enable employees A Business Strategy 20www.sophieappleby.com
- 24. Agenda • Intro • Facts: Ignoring customers Vs Engaging customers • What it means: – Customer Understanding & Customer Experience – Culture & alignment – Reten3on Tool Box Quick Review: Marke3ng & Churn – KPI • Q&A: 20min 21www.sophieappleby.com
- 25. Customer Sa3sfac3on Customer Reten3on Customer Loyalty Customer Advocacy How sa3sfied are you? What else would you like to buy? Upsell & Cross sell Basics & emo3onal engagement Would you recommend us ? From Apathy to Recommenda3on Fans Would you forgive us ? 22www.sophieappleby.com E M O T I O N
- 27. WOW Moments 25www.sophieappleby.com
- 28. Loyalty programs 26www.sophieappleby.com
- 29. Cross sell & Up sell 27www.sophieappleby.com
- 30. “70% of complaining customers will do business with you again, if you resolve their complaint.” Source : Lee Resource Inc 28www.sophieappleby.com
- 31. Welcome Complaints A powerful save tool • Easy to reach you • The right aqtude -‐ be on brand • The right processes • The right culture: – A Save tool box – Empowerment & Accountability 29www.sophieappleby.com
- 32. “96% of unhappy customers don’t complain, however 91% of those will simply leave and never come back.” Source : 1st Financial training services 30www.sophieappleby.com
- 33. Agenda • Intro • Facts: Ignoring customers Vs Engaging customers • What it means: – Customer Understanding & Customer Experience – Culture & alignment – Reten3on Tool Box Quick Review: Marke3ng & Churn – KPI • Q&A: 20min 31www.sophieappleby.com
- 34. Monitoring success 32www.sophieappleby.com
- 37. Conclusion • There is no silver bullet • Start with your customers and employees • Mix of cultural, strategic and tac3cal decisions across the en3re business • Small changes, big impact 35www.sophieappleby.com
- 39. Thank you 37www.sophieappleby.com
- 40. Q & A 38www.sophieappleby.com
- 41. On a scale of 1 to 5, how successful is your company at customer reten3on? www.sophieappleby.com
- 42. Your One Ac3on ? 38www.sophieappleby.com
- 43. Your Feedback Form 39www.sophieappleby.com
- 44. Main Sources • Accenture • McKinsey • Seth Godin • Beyond philosophy • Employees first, customers 2nd – Vineet Nayar • You3lity – Jay Baer • Frank Sonnenberg • And More ….
- 45. Chris King – Sainsbury customers representa3ve answers : Thanks so much for your lener," he wrote last June. "I think renaming 3ger bread giraffe bread is a brilliant idea -‐ it looks much more like the blotches on a giraffe than the stripes on a 3ger, doesn't it?” King then explains the reason behind naming the bread so was because the first baker who made it a "looong 3me ago thought it looked stripey like a 3ger. "Maybe they were a bit silly." He also encloses a £3 giv card for the store and signs the lener "Chris King (age 27 & 1/3)