Enhancing the Customer Experience

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FINANCIAL EDUCATION CENTERS:Enhancing the Customer ExperienceRE-DEFINING THE BRANCH VALUE PROPOSITION

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SECTION 1 :Setting the Stage

SECTION 2 :Creative Process: Goals, Strategy, Design

SECTION 3 :Supporting Strategies

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SECTION 1 :SETTING THE STAGE

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» $1.05 billion in total assets

» 15 locations in southeastern CT

» State chartered, FDIC insured, mutual bank

» #1 in purchase mortgages

» #2 in deposits

» “Outstanding” CRA Rating

» 200+ employees

» 25,000 customers

» Personal and business

» Full range of banking services

» Competing with the world’s biggest banks and others

WE HELP CUSTOMERS AND COMMUNITIES ACHIEVE THEIR SPECIFIC GOALS BY TAKING THEM ON AS IF THEY WERE OUR OWN.

COMPANY OVERVIEW

CONNECTICUT

MYSTIC

NEW LONDON

NEW HAVENBRIDGEPORT

NORWALK

GREENWICH

DANBURY

WATERBURYHARTFORD

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BUSINESS CHALLENGE

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CUSTOMERS WANT TO HAVE BRANCHES AVAILABLE TO THEM WITH CONVENIENT HOURS IN CONVENIENT PLACES, BUT BRANCH TRAFFIC

HAS STEADILY DECLINED FOR YEARS.

?AUTOMATE ?SHRINK ?CLOSE ?REMODEL ?RE-PURPOSE

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... RETAIL STORES

APPLE

AT&T

WILLIAM SONOMA

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CREATING A NEW VALUE PROPOSITION

IF WE WERE A RETAILER WE’D BE LOOKING AT

REVENUE PER SQUARE FOOT

IT CAN’T BE THE SAME OLD THINGS DONE A DIFFERENT

WAY – NEEDS TO BE SOMETHING NEW AND DIFFERENT AND NOT

JUST AN “EXPERIENCE”

WHAT CAN WE DO TO GET PEOPLE (EXISTING AND

NEW CUSTOMERS) TO VISIT?

WE NEED TO PROVIDE A NEW VALUE PROPOSITION TO OUR

CUSTOMERS AND THE COMMUNITIES WE SERVE

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WE NEED TO RE-THINK THE BRANCH “VALUE PROPOSITION”

ONLINE / PHONE IN BRANCH

ROUTINE ACCOUNT

MANAGEMENT

SALES &

SERVICE

EDUCATION&

ADVICE

STRATEGY & LOGIC

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CUSTOMER’S PERSPECTIVE

POSITION OURSELVES AS EXPERTS WHO CAN PROVIDE ANSWERS & ASSISTANCE ALONG OUR CLIENTS FINANCIAL JOURNEY:

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WITH MY FIRST JOB

HOW MUCH SHOULD I

SAVE?

HOW DO I IMPROVE

MY CREDIT SCORES?

CAN I GET APPROVED

FOR A LOAN?

HOW DO I SAVE FOR COLLEGE?

HOW MUCH DO I

NEED FOR RETIREMENT?

WHAT SHOULD I DO

NEXT?

NOW, HOW CAN I GIVE

BACK?

IGNORANCE KNOWLEDGE HABITS WIDSOM FREEDOMEDUCATION EMPOWERMENT RESULTS

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RE-POSITIONING POV

» Help people GET THE MOST FROM OUR PRODUCTS AND SERVICES

» Help people with their BIG FINANCIAL DECISIONS

» Give people a reason to come in and ENGAGE WITH STAFF

» Every experience should SURPRISE AND DELIGHT

» Local, local, local - WE ARE PART OF AND SUPPORT OUR COMMUNITY

» Create an environment that EMPLOYEES LOVE WORKING IN

RE-POSITION / DESIGN BRANCHES TO FOCUS ON ADVISORY AND SUPPORT SERVICES ON A WIDE RANGE OF RELATED SUBJECTS:

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HYPOTHETICAL CONCEPT: RESOURCE CENTERS

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TECHNOLOGY: » Online Banking » Mobile » Apps

FINANCIAL WELLNESS:

» Saving » Budgeting

HOME BUYING:

FINANCIAL SERVICES:

» Investing » Retirement

SMALL BUSINESS:

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FOUR KEY COMPONENTS

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TECHNOLOGY BRANCH DESIGN

BUSINESS PROCESS EMPLOYEES

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ASSEMBLING A TEAM

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THE NEXT CHALLENGE:FIND A PARTNER WHO CAN HELP US. . .

BRANDAGENCIES

STRATEGY FIRMS

DESIGN FIRMS ARCHITECTS INTERIOR

DESIGNERS

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SECTION 2 :CREATIVE PROCESS: GOALS, STRATEGY, DESIGN

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KEY PROJECT GOALS

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CREATE AN ENVIRONMENT THAT FOSTERS, LEARNING, CONNECTING

& PROBLEM SOLVING

GIVE PEOPLE A REASON TO ENGAGE WITH BRANCH STAFF

CREATE A FUN ENVIRONMENT THAT EMPLOYEES

WANT TO WORK IN

ONE TWO THREE

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KEY PROJECT GOALS

INSIGHT:The Brand Equity in the community is strong and extremely leverageable

INSIGHT:The vault of customer stories gathered over the years needs to be shared more effectively, using different media to allow the stories to communicate the emotional message of service

INSIGHT:Financial well-being requires more than access to information. To succeed, CGB must change customer behaviors and reinforce education in a “cradle to cradle” manner

INSIGHT:There’s an opportunity to combine programs to further leverage their effectiveness. Create interceptions to cross-leverage current efforts between small business, personal banking, local business highlight, foreign language programs

HERITAGE SERVICE EDUCATION COMMUNITY

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LEARNING CENTERS

HORIZON BCBS OF NJMISSION:Horizon BCBSNJ’s mission is to make health care work by improving the health care experience for our members and the communities we serve.

Horizon BCBSNJ is changing the way members think of us, and leading the way to a more personal, better health insurance experience. The new Horizon Connect retail center is dedicated to connecting with members in South Jersey where they live and work. It is a concrete way for us to bring members convenient, face-to-face interaction and support. The 4,500SF center’s open floor plan offers workstations, private consultation rooms, in-teractive self-service area, children’s entertainment area, event space and digital messaging screens. Events include open enrollment meetings, health fairs and seminars/events featuring local health care professionals.

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HYPOTHESIS

1. ULTRA-SERVICE 2. MONEYWI$E 3. CG LIFE

Create and patent a new customer service protocol, one that is unlike

anything else in the world, yet totally Chelsea Groton

Think of companies that have made the customer service and customer interaction the key

differentiator for their business.

Build a community of learning where CG’s members and associates share

experiences and financial knowledgein a “club-like” atmosphere.

Think: “Come curious—leave knowing” Creating a third place where customers gain the wisdom that leads to

financial freedom. Transform the environment to accommodate social events and community building.

Transform CG to a lifestyle brand at the epicenter of a community of like-minded

individuals who seek events and sessions with a lifestyle focus.

Think of companies that are the center of their customer’s lifestyle - Harley Davidson, Whole Foods, Planet Fitness,

Hard Rock, W Hotels, REI

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BRAND POSITIONING

MONEYWI$EChelsea Groton delivers value to its members by providing exceptional service & knowledge that lead to financial well-be-

ing. CG amplifies this value by providing a place for members of the community to gather, promoting learning through story

sharing and mentorship. As a result, CG members gain the wisdom of how to achieve financial well-being, enabling them to

pay it forward. CG redefines the transactional purpose of its branches into local financial community centers that transcend

what other financial institutions offer.

Chelsea Groton is the center of our member’s financial life. CG provides the knowledge that inspires it’s members to want to learn more, share in the knowl-edge of its membership and become wise in the ways of financial well-being. Our members are united in the pursuit of financial well-being, engaging with our coaches to create and achieve goals for the milestones in their lives and businesses. CG accomplishes this by providing both education and the forum for dialogue within a social backdrop which aligns with our member’s lifestyle. CG is local to its members and as such, is deeply embedded in the commu-nities it serves.

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BRAND PLATFORM SUMMARY

PERSONAL BANKING BUSINESS BANKING

SEGMENTS BOOMERS GEN X MILLENNIALS SMALL

ATTRIBUTES

DIFFERENTIATORS

FUNCTIONAL

EMOTIONAL

OCCASIONS

VISION

MISSION

PURPOSE

HELPFUL TRUSTWORTHY EXPERT LOCAL FIRST CLASS SPECIAL

SERVICE EDUCATION COMMUNITY

EXPERT FRIENDLY PRODUCTIVE RELEVANT OUTREACH LOCAL

REASSURED CARED FOR ENABLE INFORMED CONNECTED AUTHENTIC

TRANSACT CONSULT RESOLVE CLASS WORKSHOP SOCIAL GIVE BACK

WE WILL REDEFINE ALL THAT A BANK CAN BE AND DO FOR PEOPLE, BUSINESSES AND COMMUNITIES.

TO SHARE RESPONSIBILITY WITH OUR CUSTOMERS & COMMUNITIES IN ACHIEVING THEIR SPECIFIC GOALS.

ENABLING FINANCIAL WELL-BEING.

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EXPERIENCE DESIGN

ATTRACT ENGAGE INFORM TRANSACT EXTEND

ARRIVAL DWELL CONVERT RETURN

MARKETING / PR WEB, SOCIAL

GREETING ORIENTATION

BROWSEEDUCATE, CONSULT

DEPOSIT, WITHDRAWAPPLY

LOYALTY, CRMCOMMUNITY

MOBILE / ONLINEPR, AD, WEB

BEFORE DURING AFTER

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ENGAGE: ARRIVAL, ENTRY, ORIENTATION, SERVICE

AS I WALK IN, IT’S OBVIOUS THIS IS GOING TO BE A DIFFERENT EXPERIENCE. THE SPACE IS BRIGHT & OPEN AND THE FIRST THING I SEE IS A LARGE COMMUNITY/CLASSROOM SPACE. I CAN BROWSE ON MY OWN, SIGN-UP FOR A FUN “LEARN & PLAY” CLASS OR SET UP A ONE-ON-ONE APPOINTMENT.

Concierge Desk - The CGB brand ambassador is a host enabled by hand-held tablets & a geofencing system that recognizes your arrival. This associate will service your inquiries, welcome you with juice, coffee and a variety of seating options, depending on the purpose of your visit. Enjoy a coffee or water in the workshop lounge near the front- which encourages you to dwell, charge-up & and gain insights in an atmosphere of camaraderie.

Community Dashboard - The community events board ‘dashboard’ sends a message of speed & convenience— a ‘coming up next’ departure board features upcoming neighborhood events, realtime market trend, and in-branch upcoming events.

Financial milestones bar - The area uses technology & visual merchandising to demonstrate, in a simple and fun way, how & when to act, based on specific key financial events in the life of a custom-er: new car, home, vacation, wedding, home repair, school/college, hobby, health, elder care, retirement…

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DIAGRAMS

CENTER STAGE / BACKSTAGE WISDOM EPICENTER WISE IS THE PRIZE WISE PYRAMIDS

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FLOOR PLAN: ZONAL

EDUCATE1 - CONFERENCE ROOM / CLASSROOM

2 - LIBRARY / DIGITAL TOUCHPOINT

SOCIALIZE3 - BREAK AREA / KITCHENETTE

4 - LOUNGE / FLEX MEETING SPACE

TRANSACT5 - TELLER LINE

6 - DRIVE-THRU

7 - ATM / NIGHT DEPOSIT / VAULT

8 - CHECK DESK

CONSULT9 - CONSULTATION OFFICE(S)

10 - BRANCH MANAGER OFFICE

BACK OF HOUSE

CONSULTFLEXIBLE MEETING OFFICE

SPACE FOR PRIVATE DISCUSSIONS AND

MEETINGS 4-5 PERSONS

SOCIALIZELOUNGE AREA WITH

TOUCH-DOWN MEMBER WORKSTATIONS,

KIDS INTERACTIVE SCREEN, PERIODICALS AND LOUNGE SETTING

TRANSACTTELLER LINE WITH OPTION

STOOLS AND DRIVE THROUGH SERVICE

CONSULTGREETER STATION &

FLEXIBLE BOOTH SPACE FOR QUICK DISCUSSIONSAND TUTORIALS AND/OR

USE BY LOCAL BUSINESS PARTNERS

SOCIALIZEGREATER AREA DISPLAY AND EVENT RECEPTION

SPACE. LOCAL BUSINESS/PRODUCT FEATURE - SEASONAL DISPLAY.

EDUCATE & CONSULTFLEXIBLE MID-FLOOR AREA FOR SMALL GROUP OR ONE TO ONE

DISCUSSIONS AND CONSULTATION OR EVENT STYLE PRESENTATIONS

CONSULTFLEXIBLE MEETING OFFICE

SPACE FOR PRIVATE DISCUSSIONS AND

MEETINGS 4-5 PERSONS

EDUCATEBAR-HEIGHT SEATING

FOR QUICK DISCUSSIONSAND TUTORIALS

1 210

4

7 6

5

4

8

9

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MESSAGING LOGIC DIAGRAM

FINANCIAL WELLBEING

RESULTS

SUPPORT

EDUCATION

CG LIFEWI$E OVERARCHING MESSAGEEmphasizes the dual benefits of service & lifestyle as a purposeful path to financial wellbeing.

Membership is redefined as a differentiator and a means to attract new customers. The

message is personal with heartfelt client stories that connect emotionally.

LAYER 1 (Education):The first layer emphasizes the benefits of education. The Message starts or ends with a

question. “Do/Did you know?” it promotes curiosity and motivates members to dig deeper.

LAYER 2 (Support):The CG community of coaches and mentors will encourage members along the way, it’s

a support group to further motivate members in the pursuit of FW. Community also means

outreach, bank and members give back.

LAYER 3 (Results):Inspirational stories from our personal & business banking members in the form of

testimonials will be the most direct way to communicate the success of our new approach.

LAYER 4 (Financial Wellbeing):“Membership has its benefits.”.The opportunity to redeem rewards and/or give back to the

community is our strongest message for this layer of communication.

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COMMUNICATION ZONES

MAKE ME CURIOUS » VESTIBULE

» ENTRY LOBBY AREA

» GREETER

EDUCATE ME » BOOTH

» KNOWLEDGE BAR

» EDUCATIONAL LOUNGE

» LIBRARY

KEEP ME ON TRACK / SHOW ME RESULTS

» BOOTH

» TELLER

» DRIVE-THRU

» OFFICE / CONFERENCE ROOM

BACK OF HOUSE

RESULTS RESULTS

RESULTS

EDUCATEEDUCATE

EDUCATE

EDUCATE

CURIOSITY

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MOOD BOARD: ARCHITECTURE

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CHELSEA GROTON

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INTERIOR VIEW: ENTRY

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INTERIOR VIEW: MID FLOOR

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INTERIOR VIEW: KNOWLEDGE BAR (DAYTIME)

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SECTION 3 :SUPPORTING STRATEGIES

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FOUR KEY COMPONENTS

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TECHNOLOGY BRANCH DESIGN

BUSINESS PROCESS EMPLOYEES

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EMPLOYEES ARE THE DRIVER OF SUCCESS

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CLEARLY DEFINED TRAITS,

BEHAVIORS & EXPECTATIONS

CONVERTING TO UNIVERSAL

STAFF REQUIRES NEW JOB

DESCRIPTIONS

FINE TUNE RECRUITING AND HIRING PROCESS

CERTIFICATE PROGRAM FOR

SUBJECT MATTER EXPERTS

UPGRADE AND EXPAND

TRAINING CURRICULUM

EMPOWERMENT

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BUSINESS PROCESS

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Financial profilesFinancial Check-ups (am I on track?)

LOOK AT EVERY-THING FROM THE

CUSTOMER’S PERSPECTIVE AND

SCRIPT THE EXPERI-ENCE YOU WANT

“CLEAR THE DECKS”

BROAD ARRAY OF SEMINARS

AVAILABLE MORNING, NOON

& NIGHT

DETERMINING NEEDS AND GOALS

HANDSHAKE MARKETING

ABILITY TO MAKE APPOINTMENTS

ONLINE

OUTREACH TO CUSTOMERS THAT DON’T COME INTO

THE BRANCHES

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SCENARIO PLANNING

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WELCOME UNDERSTAND ACT / THANK RESPOND ACT /

EDUCATEENHANCE / EDUCATE

THANK / INVITE BACK

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EXPERIENCE PROTOCOLS

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EXPECTATIONS CUSTOMER EXPERIENCE BRANCH CUSTOMER CARE SPECIALIST ACTIVITIESWELCOME (Concierge Desk)

I am welcome

» Greet (smile, make eye contact), Polite, Upbeat and Positive Tone of Voice » Express Appreciation for Customer / Prospect’s Visit » State Name (introduce self) » Ask for Customer / Prospect’s Full Name » Demonstrate a Willingness to Help

UNDERSTAND (Concierge Desk) My need / question / issue is understood

» Review Profile and Accounts (if applicable) » If Necessary, Ask Appropriate Questions to Understand Customer / Prospect’s Request and Confirm Understanding » Access Customer / Prospect’s Time Availability

RESPOND (Booth, Consultation Rooms)

I approve of how my request or question is getting addressed

» Answer Information Question » Suggest a Solution Which Meets the Consumer / Prospect’s Request » Describe how the Solution / Suggestion Works and Why is Best for the Customer / Prospect

ACT & EDUCATE (Booth, Consultation Rooms, Knowledge Bar, Library Collaborate)

My approval gets acted upon immediatelyMy knowledge has increasedI have learned a new process / toll

» Follow all Necessary Requirements » Explain What the Customer / Prospect Should Anticipate from Chelsea Groton and What Follow-up is Required, if any » Ask Clarifying Question(s) to Check for Customer / Prospect Understanding and / or Satisfaction with Information Provided

ENHANCE & EDUCATE (Booth, Consultation Rooms, Knowledge Bar, Library Collaborate) A quality suggestion based on my need is made

I am cared for (above & beyond my request)I feel empowered

» Share the Clue and Suggest a Need Base Product / Promotion with Benefits » Explain how the Product / Promotion Works » Handle Questions and Concern » Gain Agreement (if customer does not agree accept response reinforcing that Chelsea Groton is always looking for ways to be

of value and move to thank step) » Explain Next Steps » Implement Agreed-upon Recommendations, Completing all Necessary Procedures and Requirements » Explain What Customer Should Expect from Chelsea Groton and What Customer Follow-up is Required

THANK (Invite Back)

I am appreciatedI belong here

» Ask What Other Questions or Needs the Customer / Prospect Might Want to Discuss » Thank Customer / Prospect for Coming in and Invite Them Back

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TECHNOLOGY

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WIRELESS, SECURE VPN FOR

STAFF ACCESS

CUSTOMER FACING WI-FI

BANK OWNED DEVICES AVAILABLE FOR CUSTOMER USE:

• COMPUTERS• PRINTER

ABILITY TO PROJECT/DISPLAY PRESENTATIONS

AND VIDEO

SOUND SYSTEM

INTERACTIVE CONTENT TO

SUPPORT SALES AND SERVICE

CREATE ONLINE DEMOS:

• CONSUMER• BUSINESS

• MOBILE

VIDEO CONFERENCING

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KEY TAKEAWAYSSPEND SOME MONEY ON “R&D”

EXPAND YOUR VISION BEYOND BANKING-LOOK AT LEADERS IN OTHER INDUSTRIES

LOOK AT EVERYTHING FROM THE CUSTOMER’S PERSPECTIVE

UNDERSTAND YOUR OWN BRAND—YOUR USP

HAVE THE RIGHT PEOPLE IN THE ROOM, WORKING COLLABORATIVELY

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CONTACT INFORMATION

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MICHAEL RAUHCEO, Chelsea Groton Banke. [email protected]

DANIEL MONTAÑO LEÓNPartner, Littlee. [email protected]