ecew 2013 anthony thomson - the proven benefits of metro bank's ce strategy
DESCRIPTION
Anthony stepped down as Chair of Metro Bank in December 2012. He outlines how the effect the customer experience-driven policies of MetroBank have had on performance, and on the aim of turning customers into advocates / fans. Introduction: about Metro Bank, founding ideas and ideals, history, growth throughout the South East, forward strategy; Customer Experience strategies: rewarding employees for satisfaction levels, not sales targets; These strategies have lead to: customer satisfaction scores, rates of recommendations, organisational growth How the use of social media / different channels (“touch points”) supports the CE-based strategy of the bank.TRANSCRIPT
Rethink your CX strategy and become truly customer centric
Anthony Thomson
Founder and former chairman
Metro Bank
Customer-centric banks?
A customer-centric bank?
• Opened July 2010
• 18 locations
• >700 colleagues
• 170,000 accounts
• £1 billion balance sheet
• 93% of customers ‘satisfied or very satisfied’
• 8/10 would recommend to a friend
A customer-centric banker?
• Founder & CEO City Financial Marketing
• Founder & Chairman The Financial Services Forum
• Founder and Chairman Metro Bank plc
• Founder and Chairman…
Being truly customer-centric
• It’s not about re-thinking, it’s about belief
• It’s not about lots of things, it’s about one thing
• It’s about the three rules followed by exceptional companies
• It’s about the role of profit
Copyright Erik Denali Vision
Belief one thing three rules profit
photographer, Per Morten Abrahamsen
Belief one thing three rules profit
Belief one thing three rules profit
• At Metro Bank we believe:
• Customers care about value, not price
– Service, convenience
– Transparency, consistency
– First class not second class
• They expect a great retail experience -However they interact with you
Belief one thing three rules profit
Retail banking considers the customer relationship as its only real asset. All other traditional assets or balance sheet
items are nothing but manifestations of this relationship.
Dr. Stephan W. Kaminski
10
Belief one thing three rules profit
Great businesses create fans not customers
Belief one thing three rules profit
1. Build a differentiated model
2. Create a culture to reinforce the model
3. Execute relentlessly
And you will create fans not customer
Creating fans
Belief one thing three rules profit
• Exceptional companies, when faced with tough choices, follow three rules:
• 1. Better before cheaper. They rarely compete on price.
Belief one thing three rules profit
• Exceptional companies, when faced with tough choices, follow three rules:
• 1. Better before cheaper. They rarely compete on price.
• 2. Revenue before cost. They drive profits through price and volume, not thrift.
25,000 companies’ data
Over four decades
Belief one thing three rules profit
• Exceptional companies, when faced with tough choices, follow three rules:
• 1. Better before cheaper. They rarely compete on price.
• 2. Revenue before cost. They drive profits through price and volume, not thrift.
• 3. There are no other rules. Everything else is up for grabs.
25,000 companies’ data Over four decades
Belief one thing three rules profit
• It’s not about re-thinking, it’s about belief
• It’s not about lots of things, it’s about one thing
• It’s about the three rules followed by exceptional companies
• It’s about the role of profit
