Financial Services Corporate Business:

Service improvement strategy – national sales force B2B

The Situation:

This corporate business aspired to be recognised as the No.1 service organisation in its sector; to deliver an ‘Ask Once’ strategy.

The result of an annual customer satisfaction research programme indicated high overall level of customer satisfaction. However, there were variances in individuals’ service delivery, behaviours and capabilities that masked true results.  While customers ‘like’ their account managers (AMs) and were satisfied with the basic service, gaps (and therefore opportunities) existed beyond delivering the basics. The results contributed to staff performance indicators and bonus reviews.

Evident, was the lack of a) a clear channel strategy that aligned with corporate objectives, b) common and objective definition of customer service for the segment.

Working with the GMs, sales managers and teams, Nicky developed a service map that identified current service performance against a desired set of performance levels and supported stakeholder through the national roll-out introduction and implementation process.

In addition,management acknowledge that other disparities; the bonus structure drove short-term transactional behaviours; silos existed between business units servicing the same customers; a lack of an effective CRM system resulted in inconsistent account management and overlooked SOW opportunities.

Opportunity existed to lift the game across 60% of the AMs; to consistently deliver leading industry services and align the business to provide a total package of business solutions, resulting in improved customer experience, retention and cross sell and up sell opportunities.

The Goal:

• Increase the percentage of very satisfied customers – measured against consecutive years.
• Identify and embed benchmark service levels  that customer perceived as ‘excellence’.
• Transparency; communicate strategy and activity to customers, staff and stakeholders.
• Raise the performance of 60% behind the service benchmark through needs identification, performance development, mentoring and training.

The Action:

Group heads and sales managers agreed to take responsibility for service improvement across their division and to support, mentor and grow team capability. The research and customer feedback helped establish the service benchmarks, with the business teams agreeing to create a model for the introduction, delivery and measurement.

Personal assessments were conducted across the teams – GMs and SMs included, identifying pockets of strengths and weaknesses and, any commonality that pinpointed successful behaviours and strategies, thus providing further proven performance benchmarks. It was important to understand the different styles, behaviours and abilities in relation to the levels of satisfaction customers’ experienced with individuals.

Equally important was to assess the internal environment and not just the customer environment. Reviews of internal processes were undertaken: performance measures and bonus structures; CRM requirements; internal and external communication channels etc.

Risks and critical success factors:

Teams and business units had to believe in the initiative to ensure buy-in and consistent execution.

• The process and outcomes were aligned to the needs of the customers, individuals and teams – with the realisation that one-size-fits-all does not fit all.
• Teams needed assurance that the business genuinely supported and was committed to ‘customer centricity’ – that this initiative was not just another intangible corporate vision.

 

Call Nicky on 027 276 5657 or email nicky@themarketingtherapist.org to discuss how we can help your business.