Transcript Project Viper Steering Committee #2

ANZ Consumer Credit Cards
- putting the focus on customer
service delivery ?
Presentation to SOCAP 2007
ANZ Consumer Finance
September, 2007
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copied, quoted or otherwise referred to without prior written approval of ANZ Group.
Agenda for today’s presentation

ANZ credit card business – an overview

What is customer experience ?

Why is customer experience important to a business?

How can customer service delivery impact customer experience ?

How do you develop and implement customer experience ?
-a case study

Learnings from our experience
P2
ANZ brand is well known in the Australian marketplace
Key features:
• strong brand image
• innovative
• customer focus
Key statistics:
• 1.6M customers
• 2.1M cards on issue
• 19.5% market share
ANZ Credit Cards
Whatever It Takes…
Security
Low Rate
Premium
Rewards
Visa Debit
Help you take
control of card
debt
Enhance your
lifestyle
Real value
from every day
spending
24/7 access to
your own money
Low Fee
Platinum
Frequent Flyer
Prepaid
Let you enjoy
the now
The exclusivity
you deserve
Reward you
with more life
experiences
Reward friends
and family
+
Service
ANZ credit cards … whatever it takes to deliver more
convenient, simple and problem free card services
P3
What is Customer Experience ?
Customer experience is the internal and subjective
response customers have to any direct or indirect contact
with the company or organisation.
For an organisation, customer experience is understanding
the drivers and optimising the choices taken to manage each
step of the process involved in delivering that product or
service to the customer’s expectations.
P4
Why is Customer Experience important ?
• global economic and competitor pressures combined with changing social
behaviours of customer groups has led to significant differences in the
way organisations need to engage with customers
• achieving high levels of customer satisfaction or loyalty involves clearly
understanding what customers want and how they feel when they get it
(or don’t get it) – this is distinctive customer experience
• customer experience is the articulation of the values of the organisation
as shown in how every function and every person in the organisation
performs their role – it’s more than just having a great product or good
pricing !!
P5
Outstanding customer experience is achieved by being distinctive
where it counts and priceless on the “moments of truth”
Dissecting a business into its core elements from product design through
acquisition to servicing enables a better understanding of where attention
and resources need to be directed
Essential Distinctive Priceless
Advocacy
Priceless
Advertising &
Communications
Additional
Usage
Distinctive
Neutral
Product
Development
Acquisition
Transaction
Processing
Essential
Account
Maintenance
Decline
Fraud
Defection
Service
recovery
Dissatisfaction
Satisfaction
Customer Satisfaction
Retention
Collections
P6
How can customer service delivery impact customer experience ?
1. customer services must be prepared to accept that its role is key to a
successful end-to-end customer experience: it’s not just the costs
associated with delivering a product or service
2. customer service standards must be designed into the features of the
product and service and therefore customer services be involved from the
earliest stages of product development
3. by consistently delivering to the customer service delivery standards
agreed with product designers and marketers, customer services “earns
the right to have their say”
4. customer services needs to be prepared to provide senior management
and executive with the relevant information and insights into how the
business is performing and explain what can be done differently
P7
Customer experience is the integration of a cross-section
of sources of information into a dedicated program
Three key elements form the basis of a customer experience program*:
Defining the
Customer
Experience
Model
Developing a
Dashboard
that measures
performance
Taking action
to improve
customer
performance
• defines the model,
its rational, core
elements and
strategic intent
• identifies sources of data
– creates “quantifiable
and analytic” measures
using subjective data
• identifies initiatives that
align to the improvement
of the key customer
metrics
• identifies “moments
of truth” – those
specific customer
activities that will
transform the business
• presents data in a
manner that assists
in drawing conclusions
and making decisions
• closely tracks and
monitors performance of
initiatives
• explains how the
model will lead to
improved business
performance
• uses dashboard results
as a benchmark to
measure performance
improvement
• evaluates extent to which
the model is enhancing
customer satisfaction and
loyalty
* Bliss, 2006; Smith & Wheeler, 2003
P8
Case Study: Customer Satisfaction Model and Dashboard
6.7
People
Valued Customer
7.0
32%
Customer Service
7.0
9%
Communication
8.0
10%
Fees and charges
7.0
15%
Interest Rates
7.0
10%
Relationship
Overall
Satisfaction
7.5
51%
7.5
Channels
8.0
7%
Business
Metrics
Rates and Fees
7.0
25%
Product Features
8.0
7.6
Customer Satisfaction Rating
50%
17%
Customer Importance Weighting
6.0
Click to scorecards
2006 Staff Engagement Result
P9
Customer Service – How are we servicing our customers?
Scorecard - Key Measures
Tracking/Benchmark
ANZ Credit
Cards
Customer
Satisfaction
All Customer Service scores above 8, except on ease of
getting through to the right person (7.5). Highest score on
arrival of replacement card (8.8)
May 07 score 8.4
Dec 06 score 8.2

Complaints
Customer Service related complaints decreased for the
third month in a row.
May=25% of total
complaints Apr= 27%

Enquiries
The dynamics of the top 15 enquiries changed in June with
the increase in enquiries related to card replacement. A
slight reduction in amount of calls requesting change of
details
Card replacement
enquiries June 8% (4%
May)

Customer
Charter
Status
Account maintenance
requests dropped to 3%
in June from 4% in May.
93% of calls to 13 22 73 and 90% of calls to 13 13 14 were May 96% & 92%
respectively
answered within 60 seconds in June
Apr 94% & 92%
Credit Cards processed all applications according to our
respectively
promise

P 10
Learnings – putting service delivery in focus
• customers have become increasingly selective, seek
choice and possess very high expectations and
customer service delivery is one of the key defining
moments for whether they stay with you or go
• “earn the right” to have your say at the management
table – consistently deliver high standards and the
credibility will acknowledged
• don’t be shy in constantly using information to
demonstrate customer impact – but make sure you
present it in a relevant manner
• constantly communicate and encourage all staff to
understand what the organisation stands for and
show them how they contribute to organisation’s
success – drive the internal culture and change
management
P 11