VISUALIZE                        ORGANIZE                           MONETIZE              OPTIMIZE                     Qui...
VISUALIZE                ORGANIZE                  MONETIZE         OPTIMIZE BofA’s letter from Brian Moynihan, Chairman, ...
VISUALIZE                   ORGANIZE                     MONETIZE             OPTIMIZE              Customer’s Experience ...
VISUALIZE                   ORGANIZE                     MONETIZE             OPTIMIZE             The Customer’s Experien...
Objectives for Each *Interaction          (SLA’s for each box)          1.        Identify Customer                       ...
VISUALIZE                ORGANIZE                         MONETIZE                       OPTIMIZE        Giving an example...
CxC Customer Experience Matrix                                                                                            ...
Customer Worthy                                                                      Think Like a Customer!               ...
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Customer experience letter Bank of America thoughts

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Bank of America's Chairman's letter to 270000 employees about customer experience got my attention as a customer and a customer experience strategist. Why does the bank suddenly care about customer experience? Will my experience change? Will change be for better? Whom will be affected by change? What are the costs? How will employees think differently? How will customer experience be made visible to employees? Connected to roles? Who is ultimately responsible for BofA's customer experience?

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  • Hoffman Q3
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  • Customer experience letter Bank of America thoughts

    1. 1. VISUALIZE ORGANIZE MONETIZE OPTIMIZE Quick Thoughts Re: Huffington Post BofA Customer Experience Article http://www.huffingtonpost.com/2013/01/28/brian-moynihan-letter- employees_n_2570595.html?utm_hp_ref=business Bank of America’s Letter to 270,000 Employees Sent to Their Homes Quick Thoughts as Customer & Customer Experience From Customer© 2002. All rights reserved. ClientXClient Inc. Worthy Book All rights reserved. Client X Client 908.542.1134 @ Amazon
    2. 2. VISUALIZE ORGANIZE MONETIZE OPTIMIZE BofA’s letter from Brian Moynihan, Chairman, struck me as a customer (I plotted my customer experience below…then spent 15 minutes mapping statements (see following slides) from letter to CxC Customer Experience Matrix. I don’t think, as a customer, I’ll be affected by changes. Is that good? CxC Customer Experience Matrix TM: Customer Process Awareness Identification Selection Purchase Use Support Return Branch Retail X Events Field Sales Call Center X X Web X Email Direct Mail X X Affiliate l e nna h C Partner Wholesaler 3rd Pty web Outdoor Community X From Customer© 2002. All rights reserved. ClientXClient Inc. Worthy Book All rights reserved. Client X Client 908.542.1134 @ Amazon
    3. 3. VISUALIZE ORGANIZE MONETIZE OPTIMIZE Customer’s Experience Starts with Awareness of a need: • “I need a loan” • “I need my available balance” • “I need advice” CxC Customer Experience Matrix TM: Customer Process Awareness Identification Selection Purchase Use Support Return Branch Retail Events Field Sales Call Center Web Email Direct Mail Affiliate l e nna h C Partner Wholesaler 3rd Pty web Outdoor Community From Customer© 2002. All rights reserved. ClientXClient Inc. Worthy Book All rights reserved. Client X Client 908.542.1134 @ Amazon
    4. 4. VISUALIZE ORGANIZE MONETIZE OPTIMIZE The Customer’s Experience with a company, i.e., Bank of America, is the sum of the interactions between the customer and company(s) in each Channel as the customer seeks to resolve their need. CxC Customer Experience Matrix TM: Customer Process Awareness Identification Selection Purchase Use Support Return Branch Retail Events Field Sales Call Center Web Email Direct Mail Affiliate l e nna h C Partner Wholesaler 3rd Pty web Outdoor Community From Customer© 2002. All rights reserved. ClientXClient Inc. Worthy Book All rights reserved. Client X Client 908.542.1134 @ Amazon
    5. 5. Objectives for Each *Interaction (SLA’s for each box) 1. Identify Customer Key Point!!! 2. Recognize Customer Bank of America’s greatest 3. Serve/resolve Issue Challenges? 4. Upgrade 5. Extend Offer(s) 6. Grow Relationship Greatest threat to business? 7. Educate Getting this wrong! 8. Collect Data/Learn 9. Gain referrals Each interaction has a cost and potential revenue *Could make company enormously unprofitable (SLA Service Level Agreement)© 2002. All rights reserved. ClientXClient Inc. All rights reserved. Client X Client 908.542-1134
    6. 6. VISUALIZE ORGANIZE MONETIZE OPTIMIZE Giving an example of how to improve customer service, Moynihan says in the letter that customer call centers should provide the same "problem-solving approach" to helping customers as the banks Merrill Lynch financial advisers and U.S. Trust private bankers, which work with wealthier clients. The letter also highlights efforts to provide more clear communications with customers and initiatives to put investment specialists and mortgage loan officers in branches. Huffington Post http://www.huffingtonpost.com/2013/01/28/brian-moynihan-letter-employees_n_2570595.html?utm_hp_ref=business Per letter, Do They Have Customer CxC Customer Experience Matrix TM: Experience Covered? Customer Process Awareness Identification Selection Purchase Use Support Return Branch Retail Events Field Sales Call Center Web Email Direct Mail Affiliate l e nna h C Partner Wholesaler 3rd Pty web Outdoor Community From Customer© 2002. All rights reserved. ClientXClient Inc. Worthy Book All rights reserved. Client X Client 908.542.1134 @ Amazon
    7. 7. CxC Customer Experience Matrix TM:If they are serious, they must address fundamental Customer Experience: Missed Hand-offs; Customer Context; How do you measure whatdoesn’t happen? 1. Awareness 2. Information 3. Identification 4. Selection 5. Negotiation 6. Contract 7. Logistics 8. Delivery 9. Acceptance 10.$ Collection 11. Use 12. Care & Support 13. Repair 14. Community Geography Digital Location 3rd Party One-On-One Community Recommendations: Plot First Time Customer vs Repeat Customer Plot for Market Area Plot Seasons Report Card vs Competitor Plot For Customer Segments Automate Path Current Situation vs Future Plot New Business/Product Business Process Management Disaster Recovery Communications Planning Business Performance Management System and Department Integration SLA’s by Department From Customer © 2002. All rights reserved. ClientXClient Inc. Worthy Book All rights reserved. Client X Client 908.542.1134 @ Amazon
    8. 8. Customer Worthy Think Like a Customer! VISUALIZE ORGANIZE MONETIZE OPTIMIZE From Customer Worthy Book @ Amazon Customers are the final arbiter of business success. In order for companies to succeed and command superior profit margins and sustainable business growth, they must understand customers and co-manage their customer’s experience across all interactions and across each customer life stage.. The CxC Customer Experience Matrix provides a method to visualize, organize, monetize, analyze and optimize customer experience. For more information & share to your thoughts Michael Hoffman 908.542.1134 mrh@customerworthy.com © 2002. All rights reserved. ClientXClient Inc. All rights reserved. Client X Client 908.542.1134

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