Client Centricity Dontá Wilson Chief Digital & Client Experience Officer Digital, Client Experience and Marketing Investor Day 2018
Client CentricityDontá WilsonChief Digital & Client Experience Officer
Digital, Client Experience and Marketing
Investor Day 2018
2
Key Takeaways
1Creating a
distinctive client
centricexperience
Inspired by the
Voice of the
Client and
data insights23 Empowered
by dynamic
technology 4 Driving digital
revenue and
account growth
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How We Create Client Centricity
Voice of the Client
Insights-Driven Client Experience
Revolutionary Marketing
Digital Transformation
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Digital, Client Experience and Marketing
7.6MM clients
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Voice of the Client
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Voice of the Client (VOC)
Digital platform launched in 2018
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How Are We Using VOC Cx Platform and Feedback?
▪ Identifying at risk clients, solving their problems quickly and preventing attrition through our Client Delight Opportunity process
▪ Using the verbatim comments and text analytics tool to identify key strategic pain points
▪ Using the VOC data to perform linkage analysis allowing us to determine the appropriate call wait time before negatively impacting client satisfaction
scores.
▪ Using near real time VOC feedback for coaching, trend evaluation and client
experience improvements.
▪ Flexibility is key – we can add and remove question modules as needed (system outage, Marketing Awareness, etc.)
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Established Client First Council with the Chief Digital
and Client Experience Officer as the Executive
Sponsor
Six Sigma team dedicated daily to discover, uncover
and dissolve multi-channel client and associate
challenges related to the client experience
Extreme enterprise level focus across all
business lines
Continuous improvements driving towards client
experience distinction
Client First Solutions
Driven to eliminate client friction and effort by
incorporating immediate needed changes or
enhancements with policy, process, and/or product
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Most Impactful Initiatives By Category
Policy Change Process Change
Increased Authority for Community Bank
Revised PC Teller Case-by-Case Deposit Holds Process
Product Change
Implemented “Click to View” Overdraft Related
Fees within the U Platform
Expanded local commercial
leadership authority
Empowering our retail branch
staff (i.e. check cashing limits)
Eliminating unnecessary holds
while maintaining strong risk
coverage
Hold Reduction of 67% or 91k in
first two weeks
Accounted for 60% of
opportunities presented in
branches
Introduced online solution to
clients in December 2017
33Client Enhancements
YTD
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4851
54 5451
5456
59
62%65%
67% 67%64%
66% 67%70%
23%20% 21% 21%
23% 22% 22%20%
14% 14% 13% 13% 13% 12% 11% 11%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Feb Mar Apr May June July Aug Sept
NPS Promoters (T2B)
Passives (M2B) Detractors (B7B)
68% 69% 70% 69% 68% 70% 72% 73%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Feb Mar Apr May June July Aug Sept
OMNI: 2018 Year-to-Date Statistics(Date range 02/14/2018 – 09/30/2018)
2018 YTD NPS = 53.2Net promoter score = % Top 2 (Promoters) - % Bottom 7 Box (Detractors)
NPS
Survey Question: How likely are you to recommend BB&T to a friend or colleague?
Monthly Trend: Likelihood to Recommend l NPS
2018 YTD BB&T OSAT = 70.0%BB&T overall satisfaction = % Top 2 Box
Survey Question: Overall, please tell us how satisfied you are with BB&T.
Monthly Trend: Overall Satisfaction with BB&T
Source: Convergys
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Insights-Driven Client Experience
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Moving Beyond Analysis to Synthesis
Analysis Synthesis
How Why
Inward looking Outward looking
Reductionism Expansionism
Machine age Systems age
Product Holistic client experience
Emphasis on answer Emphasis on question / client need
Knowledge Understanding / insights
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Client Experience Data Lake Scope
Client
Data
Phone
Records
Web
Traffic
50+ other data
sources Client Experience
Data Lake Platform
Enabling the right information to be delivered to the right person at the right time through the right channel.
From ToTraditional Databases Big Data Technology
Expensive Storage Cheaper Storage
Data Silos Data Integrated
Batch Data Loads Near Real Time when possible
Security and Controls
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Client Insights and Analytics
▪ Established a client insights and
analytics team that is focused on
client data integration, robust
analytics, insights and client
journey mapping
▪ Using data analytics and predictive
modeling to automate (Machine
Learning) the “Next Best Action” to
better assist bankers with client
engagement prioritization
▪ Leveraging data analytics and
predictive modeling to improve
client retention and drive digital
marketing success
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Revolutionary Marketing
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The Ultimate Client Experience
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Marketing Maturity
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Marketing Timeline
2015 2016 2017 2018
2016▪ 138 marketing campaigns (42% have a digital
component)▪ 14.6MM emails sent▪ 4.4 MM in direct mail pieces sent▪ Launched first social influencer campaign
2018 ▪ 332 marketing campaigns (94% have a digital component)▪ 63.6MM emails sent YTD▪ 18MM direct mail pieces being sent▪ Launched IGNITE – 5-year integrated marketing household
growth strategy – generated over 46,000 new to bank clients▪ 10 always on campaigns ▪ Updated Digital Marketing Roadmap▪ Marketing campaign investments generating 2 to 1
revenue to Marketing campaign expense▪ Introduced Agile Methodology into Marketing work
environment
2015▪ 108 campaigns (25% have a digital
component)▪ 3.2MM emails sent▪ 3.4MM direct mail pieces sent▪ Implemented Marketing Automation platform▪ Manual process used to track campaign
performance
2017▪ 191 marketing campaigns (75% have a digital component)▪ 52.6MM emails sent▪ 8.2 MM in direct mail pieces sent▪ Designed and launched initial always-on campaigns▪ Rebranding effort resulting in All We See Is You▪ Hired Director of Digital Marketing▪ Launched Instagram and Proactive Twitter Handle▪ Automated, designed and utilized tool to track campaign effectiveness
(dashboard)▪ Automated and enhanced campaign effectiveness ROI ▪ Launched Marketing Automation Enhancements and Client Experience
Data Lake projects
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Traditional Marketing
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Digital Marketing
Online Marketing Mobile Marketing
Website Optimization
Search Engine Marketing
Video Advertising
Social Media
Email Marketing
Messaging (SMS & MMS)
Mobile InternetMobile In-App Advertising
Online Display Advertising
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Content Strategy
Brand – “Attention” Commercial
Product/Feature – “BB&T P2P Zelle” Commercial
Client Journey – “Bankcard Journey” Commercial
Brand Journalism – “Community Impact” Commercial
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Digital Transformation
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Inspireinspiring our associations to seek ways
in which we can create client
experience distinction
Innovateinnovate with client centricity and
business efficiency as top priorities
Investinvest for the future and invest now
Igniteignite an elevated level of revenue
and household growth
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Inspire
▪ Client Inspired: feedback through our
digital VOC platform and other
feedback channels
▪ Associate Inspired:
recommendations from associates
such as our Client First Solutions team
▪ Co-Inspired: co-created solutions
derived from working with clients in
our digital community and labs (40
UX/UI professionals to include 7 PhDs)
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Inspire: Co-Creation with Clients
Evaluate Current Experience Design Future Experience
User Feedback
41,200unsolicited comments analyzed in 2018
Sources of Feedback: Mobile App Store Reviews, CEO Line, Social Media, Email, Chat Transcripts, CMG complaints, Associate feedback, etc.
Platform Surveys
62,000completed surveys in 2018
OAO Survey: After clients complete application,
they’re invited to give feedback.
(Currently: ROAO, BOAO, PMA/YMA)
Performance Benchmarking
350completed test sessions in 2018
Study: Clients perform 12-14 top tasks, evaluate speed, success and errors. Compare year over year. (BBT.com, U Web, U Mobile App, ROAO, MOAO, BOAO, CCOAO)
User Community
29,800completed test sessions in 2018
Community: 2K clients that frequently take surveys and usability assessments to guide future design
Usability Testing
150 In person sessions in 2018
Lab Studies: Observe clients using our prototype designs
Beta Testing
30beta testers in 2018
Betas: Clients and Associates are invited to try a new feature before public availability
Survey
U
? ?
?
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Innovate: Fostering a Culture of Innovation
– Established a “Test and Learn” Team
• Virtual Assistant, chatbot
– Sponsorship and participation in fintech accelerators and incubators
– Hosted BB&T’s 1st Hackathon in July
▪ We are cultivating innovative ideas through new and different avenues:
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Innovate: Fintech Investment Strategy
▪ We are investing strategically for the future:
– Set aside up to $50 million to invest in and/or acquire emerging digital technology companies to benefit and delight clients and lower operating costs
– Announced a $5 million investment in Enigma, a Data-as-a-Service company headquartered in New York City in September
– In 2019, will have an intense focus on talent acquisition, accelerating Fintech investments, and establishing a National Advisory Board on Digital Transformation
Invest: Digital Investment Themes
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Pursuit of Innovative Technology
Client Experience & Marketing
Intelligent Automation
Data & Analytics
Digital Capabilities
Commerce & Faster Payments
Innovation
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▪ 2017-2019 Estimated Investment $300MM
– Includes 20+ Strategic Digital Initiatives, Platform Enhancements, and Digital Marketing Campaigns
▪ Will complete 1,500+ Digital Platform Releases and ~300 Digital Marketing
Campaigns in 2018
▪ Set aside up to $50MM for Fintech Investment Strategy in 2018
Invest: Accelerating Digital Investments
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Ignite: Digital Performance
19% 36%24% 24% 62%
8x increase in per month transactions
25%
Retail Savings
7%
Business Checking
15%
Retail Checking
9%
Business Savings
15%
Bankcard
*YTD 2018, Unit Sales Growth YOY
3.03MMActive Digital
Users
App
818K
Browser & App
788K
Browser
1.42MM
Mobile App
Momentum
19% YOY
40% YoY growth in transactions
†September 2018 U Web, U Mobile, Small Business, OLB
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Ignite: Driving Digital Channel Revenue
*2018 full year estimated revenue total / OAO production as of September 2018
▪ Digital revenue has shown
strong growth over the past
few years
▪ Excluding Mortgage,
digital revenue growth is
up 18% YTD year over year
2015 2018
11%
143MM Visits
▪ Prospects make up
approximately 11% of total
traffic to BBT.com
▪ This represents an
opportunity for new client
conversion
YTD Traffic to BBT.com(as of Sept 30)
Digital RevenueNet New DDA Accounts
Opened Online(as of Sept 30)
47.3%
Digital
acquisition52.7
Branch
acquisition
▪ 56% of Retail and 20% of
Commercial net new DDA
accounts are derived from
digital acquisition
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Ignite: LOB Digital Enablement to Drive Segment Revenue
Retail
Commercial
Wealth
Enterprise
Digital
Faster Payments Financial Planning Tools Enhanced Investment Management Platforms
Robotic Process Automation Digital Card Controls Redesigned Websites U for Wealth Real-Time Payments
Advisor Mobility Machine Learning RAC Mobile App eSignature Test and Learn Interactive Fraud Alerts
Next Best Offer Wealth View Fintech Investment API Portal U Enhancements Commercial Portal
Chatbot
Client Data Lake
U for Small Business
Cash Manager Online
Replacement
Responsive Retirement Site
Fintech Partnerships
Accelerated ATM Refresh
Wearables
Data Management Platform
Digital Collateral Monitoring
Digital Client Onboarding
Hackathon
Zelle
Data Aggregation
Commercial Portal
Digitizing Loan Funding
Voice Biometrics
Financial Insights
Interaction Analytics
IVR Transformation
Natural Language Processing
New Content Management System Expanded Online Account Opening Automated Client Communication
Enhanced Mobile Treasury Onboarding Brokerage Digital Account Opening eLending
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Key Takeaways
1Creating a
distinctive Client
Centricexperience
Inspired by the
Voice of the
Client and
data insights23 Empowered
by dynamic
technology 4 Driving digital
revenue and
account growth