CONFIDENTIAL
Building better Customer Experiencesat Credit Suisse
November 2007Bojan Blecic, VP Customer ExperienceClient Insight Management
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Credit Suisse - Facts & Figures 2006
Source: http://www.credit-suisse.com/investors/doc/facts_figures_usd_en.pdf
Founded in 1856
Active in over 50 countries.
Approx. 45'000 employees
Assets under management in trillions
$ 1.2
Net income in billions
$ 9.8
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A lot of customers are interacting with us
Every month in Switzerland...
More than 225,000 calls are handled by the contact center
Approximately 600,000 client visits are served in our branches
More than 3.5 million envelopes are mailed out There are over 400,000 log-ins into the e-
banking tool
...we have countless personal interactions with clients and prospects....
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Why we started to care deeply about the Credit Suisse Experience
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Gap to leading position
37%
42%
58%
79%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Credit Suisse
Retail Banking Clients
Percent of clients willing to recommend main bank
Source: Basisbankenstudie 1. Semester 2004
oth
er
banks
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Customers considering to change Bank (including:"yes, I will change soon / " yes, I have already thought about it")
Ø 14%
25%
25%
17%
13%
12%
12%
6%
9%
The risk of loosing customers is higher than the average...
1%
1%
2%
2%
1%
2%
3%
3%
8%
5%
10%
10%
12%
15%
22%
22%Credit Suisse
oth
er
banks
yes, will change soon
yes, I am thinking about it
Source: Basisbankenstudie 1. Semester 2004
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A visit to the branch
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Which button would you push?
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What happens when we 'think' we know what is good for the customer
?
Discretion?Comfort?Clarity?
Everything here is rarely, if ever seen
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Within a framework agreement (duration of 1 - 10 years), individual tranches (duration of 3 - 12 months) are fixed. You can choose your preferred duration for a tranche, giving you direct influence on the length of your fixed interest rate periods. Once a tranche has expired, you can select a new tranche within your framework agreement depending on how you see future interest rates developing. Alternatively you can take the opportunity in accordance with the agreement - to switch to a different mortgage model from our extensive range.
Even the language we use with our customers isn't quite what they need...
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And the Employee Experience
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At the intranet as well, there are some things that might be confusing users....
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So, why do bad experiences ever get created in the first place?
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I just don't understand it...
Figure out what went
wrong
Customers react
The reason that customer experiences are poor is down to how they are created within the business
Launch it Build it Generate ideas internally for new products
Hey, I've got a great idea for a new product...brochure... website...HR policy... branch...software...
Customers are gonna love it!
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Culturepatterns of human activity and the structures that give them significance and importance.
http://en.wikipedia.org/wiki/Culture
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Focus on the customer!Be customer focused!
How the heck do I do that?
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We have our mouths full of customers, but our practice is full of ourselves.
M. Rijsberman
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The Work
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The Result
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The First step in improving any customer experience is understanding that customer experience.
The first step in understanding a customer experience is developing....
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"You can't know your customer until you've gone through your customer experience yourself." - CX Team
"You can't know a person until you've walked a mile in their moccasins." - American Indian Saying
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Filling out a form is not always easy...
Increase in comprehensibility in content and usability
Reduction of error rate in form completion to 9.3% (from 18.5%)
Higher external and internal customer
satisfaction
~ 50 %less mistakes
...in fact 18.5% of the forms have mistakes
Authors
Clients
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Experience Immersion
is a technique you can use to develop customer empathy in yourself and those around you.
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" If you tell me I will forget, If you show me, I will remember If you involve me, I will understand "
Confucius
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Private Banking Retail BankingCorporate Banking
Very satisfied
Satisfied
Dissatisfied A B C A B A B C
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Does anyone know where the salt is?
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We now have client metrics on our management scorecards.
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Improvements in the branch
Increase in sales leads: 100%
Traffic moved from cash-desk to ATM:30%
Marketing awarness: 400% increase
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Do it yourself
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involve your people
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Bojan BlecicCustomer Experience, Credit Suisse
Thanks
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