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Sales and Service Transformation Leads to Exceptional Performance STEP Up!

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Presentation on theme: "Sales and Service Transformation Leads to Exceptional Performance STEP Up!"— Presentation transcript:

1 Sales and Service Transformation Leads to Exceptional Performance STEP Up!

2 2 Sales and Service Transformation Leads to Exceptional Performance Why STEP Up!? STEP Up! is what we need to Improve on 2008 Performance Consistent approach to achieving exceptional performance with identified best practices Straightforward clear operating model, every branch, every day, all the time Detailed process guidance to support the team on the one best way to execute Inspection system with standards that are defined and well-articulated

3 3 Sales and Service Transformation Leads to Exceptional Performance What is STEP Up!? Tool to Improve Sales & Service Performance Consistent National Process Specific Activities & Frequencies Inspection & Accountability Investment that will support and enable execution Training & Communication Tool kit Inspection Process What STEP Up! is Not Not invented in Court Square Not just a message to do more Not a one-time event

4 4 Sales and Service Transformation Leads to Exceptional Performance Where Did STEP Up! Come From? Field Feedback Accelerated Development Timeframe 8/12 – 14 Division Sales Directors 8/19 – 22 Field Participants 9/9Division Managers – 1 st Draft 9/11Senior Team – Green Light 10/6Division Managers – Final Review

5 5 Sales and Service Transformation Leads to Exceptional Performance Cross Functional Division Teams Area Directors Branch Managers Personal Bankers Business Bankers AODs and Assistant Branch Managers Commercial Banking

6 6 Sales and Service Transformation Leads to Exceptional Performance How Was STEP Up! Developed? Documented Top Seller & Manager Techniques Core Tasks Agreed Standards Documented Best way to Execute in the Process guide Meetings Communications and Team meetings Branch visits and performance reviews Business reviews Coaching Administrative Activities Sessions / Account Opening Sales & Service Activities Sales activity planning Telemarketing and National Call Nights Outbound sales POS utilization Micromarketing Lobby and line management In-Branch activities Core Tasks

7 7 Sales and Service Transformation Leads to Exceptional Performance How Does STEP Up! Fit in? Manage Activities Daily Huddle, Midday inspection, EOD recap Telemarketing (LMS), Outbound Leverage POS Micro-Marketing Events Leverage Partnerships Measure Sales Dashboards Activities MIS CitiMax Assessment Worksheet Teller / CSR Referral Tracker Action X Frequency = Results Plan Activities Weekly, Monthly, Quarterly, Annual Recognize & Reinforce Provide Coaching & Training Observation & Feedback (RTSS) Success Share Inspect Sales & Service Activities + Process Guides & Standards + Inspection

8 8 Sales and Service Transformation Leads to Exceptional Performance Commercial Banking Interaction STEP Up! also launches for CB Team on Jan 1 Kickoff timing is December – Retail Management Will be Invited Includes: Retail Partnership Sales & Service POB calls with Branch Managers, BBs, and RMs COI development, events, local community groups/businesses Joint calling with Branch Staff Coaching & Mentoring Sharing best practices and product expertise Field Activities Introduce Branch Manage, BB, RM to new to bank customers Share pipeline reports with Retail Area Managers Branch Manager/BB on changes in customer relationship – line/loan increases or services issues Share best practices RM, BDO, CB AD Standards Sales and Service Portfolio/Production Reviews Visit two Top 50 Customers weekly Strengthen internal product and business partnerships Field Activities Pre-call planning presentations Development Product Training Joint POB calls with CB Area Director / Division Manager

9 9 Sales and Service Transformation Leads to Exceptional Performance How do We Know this Works? Our Best Sellers & Managers Top Sellers 6X to 10X productivity 20% - 35% Lift In Institutions that Have Implemented This Type of Program

10 10 Sales and Service Transformation Leads to Exceptional Performance What Goes Away / Improves – Highlights Project Liberty 1 and 2 HR – New Employee Onboarding – GEID, SOEID, RITS ID, , LAN Access Communications Division Meetings Limited to Three Hours Weekly Weekly CitiMax Area Director Meeting Eliminated Simplified MIS, Easier to Use, More Clickthroughs Micromarketing – MasterCard Purchasing Card, in Pilot, to Eliminate Diners>T&E>Approval Complications and provide Immediate Payment Capability …More to Come Were Looking at HR, Finance, Operations, Micromarketing…Everything

11 11 Sales and Service Transformation Leads to Exceptional Performance How Can You Help? Champion STEP Up! Dont Underestimate Change Management Focus on Inputs / Activities, Not Just Outputs High Performers as well as Lower Performers Inspect Launch with Your Teams – Videos available 11/6

12 12 Sales and Service Transformation Leads to Exceptional Performance Building a Customer-Centric Culture.

13 13 Sales and Service Transformation Leads to Exceptional Performance Problem Incidence increased in both syndicated and proprietary studies 33% of Citibank customers reported experiencing a problem Most frequent problems revolve around policy-driven issues and poor service in interpersonal interactions Problem Resolution has increased but improvement still needed 34% of all problems remain unresolved compared to industry average of 25% On average, Citibank customers have to wait 11 days to get problems resolved which is substantially higher than the industry average of 6.2 days In-Person Transactions represent the greatest opportunity for us Below industry average in 08 Courtesy and Friendliness show our largest gap versus the competition Where Should We Focus? IndexWeights Industry Mean CitibankWtd. Gap In-Person40.5% Amount of time spent waiting21.3% Speed of completing the transaction16.0% Courtesy and friendliness of the teller/representative 29.3% Knowledge of the teller/representative15.4% Range of services that can be performed18.0%

14 14 Sales and Service Transformation Leads to Exceptional Performance Brand Purpose and Beliefs What we believe We are relentless in driving winning performance for our clients and our franchise any time, anywhere. Shared Purpose, Guiding Values and Principles What we value We are relentless in partnering with our customers... building lifetime relationships... one customer at a time... to anticipate and meet customers needs... We always start with the customers needs and have a desire to surpass their expectations... We are determined to win for our customers and company... We create an easy and inviting place for our customers to do business Customer Experience Model Our Promise to our Customers W 3 Driven by Nine Action Principles Moments of Truth How we execute on the Promise Always Make the first Move (Connect in a great Way) Every Complaint is an opportunity (Recover with your heart) Lifetime Customer relationship (Build Loyal Fans with dare) Sales and Service Transformation Leads to Exceptional Performance How do we Build a Customer-Centric Culture? Client success is our success Build long-term relationships Anticipate client needs Be approachable and connect Offer solutions Woo Engagement Wow Resolution Win Loyalty

15 15 Sales and Service Transformation Leads to Exceptional Performance A Balanced Customer – Centric Model Clear, Consistent Customer-Centric Strategy for the Business Unified message, proven training, Process improvement Discipline Consistent Balanced Approach to Running the Business Balance across our key drivers Accountability for Results Clear expectations, internal and external metrics

16 16 Sales and Service Transformation Leads to Exceptional Performance Ultimate Secrets – A Catalyst for Cultural Change Program adopted across multiple organizations within the US and Globally – building towards a common language and customer experience 26,000 Citi Employees have been trained between March 2006 – August 2008 Ultimate Secrets is a cultural change in the way we interact with our clients Directly links and reinforces Client First, Shared Values and One Citi branding The Customer Interaction Model is based on a relationship vs. a transaction Simple, easy to understand, and proven training experience Incorporates the best concepts from iconic brands like the Ritz-Carlton, FedEx and Singapore Airlines Supports the One Citi vision Creates a consistent, branded service delivery across multiple touch points including branches, back office, call centers, etc. Links to overall Citi Business Strategies and drives Quality Metrics Net Promoter Score, Loyalty Factors, mystery shop, external benchmarks Supports better Problem Resolution at first point of contact – a key opportunity for Citi Sales and Service Transformation Leads to Exceptional Performance

17 17 Sales and Service Transformation Leads to Exceptional Performance Customer Experience Progression Model Sales and Service Transformation Leads to Exceptional Performance Better Deeper Greater Share of Mind + Share of Wallet + Share of Heart Customer ENGAGEMENT To Better ATTRACT Customers WOO Service RECOVERY To Improve RETENTION Of Customers WOW Customer LOYALTY To Secure LOYAL Customers WIN Relationship Profitability = Quality + Longevity Build Relationships New and Existing Portfolio Growth Referrals

18 18 Sales and Service Transformation Leads to Exceptional Performance What are the Nine Action Principles? Sales and Service Transformation Leads to Exceptional Performance 1.Project Professionally 2.Respond Actively 3.Observe Intently 4.Make Personal Connections 5. Identify Service Gaps 6.Solve Issues Promptly 7.Establish Emotional Bond 8.Meet Unexpressed Needs 9.Encourage Commitment Ultimate Secrets centers around Nine Action Principles comprised of our promise to the client and creating the foundation to Woo, Wow and Win with every interaction, every day with our clients!

19 19 Sales and Service Transformation Leads to Exceptional Performance Mission To ATTRACT Customers By Establishing Immediate Rapport and Initiating Meaningful Customer Conversations Action Principles PRO Please Reach Out Service Secret # 1: WOO The Customers 1. Project Professionally 2. Respond Actively 3. Observe Intently VISUAL: How You Look VERBAL: What You Say VOCAL: How You Say It Check Your Image Connect In A GREAT Way A ssess Satisfaction R adiate Interest T hank Warmly G reet First E xtend Help

20 20 Sales and Service Transformation Leads to Exceptional Performance Mission To RETAIN Customers By Providing Delightful Experiences And Delivering A Sustainable Value Proposition Action Principles MIS Make It S pecial Service Secret # 2: WOW The Customers 4. Make Personal Connections 5. Identify Service Gaps 6. Solve Issues Promptly Apply the FEEL Skills Eliminate TDIs Feel Their Pain Live In The Moment Express Your Concern Recover With Your HEART Empathize Sincerely Regain Trust Accept Shortcoming Hear Out Take Action

21 21 Sales and Service Transformation Leads to Exceptional Performance Mission To Secure LOYAL Customers By Establishing Deep Connections And Creating Reciprocal Lifelong Relationships Action Principles EME Exceed My Expectations 7. Establish Emotional Bond 8. Meet Unexpressed Needs 9. Encourage Commitment Apply the CARE Skills Build Loyal Fans With DARE Service Secret # 3: WIN The Customers R eflect Positive Energy C hoose Your Attitudes E xpress Your Gratitude A sk for Negative Feedback Exceed Expectations Recover Service Accept Responsibility Delight Each Moment LIFETIME CUSTOMER RELATIONSHIP

22 22 Sales and Service Transformation Leads to Exceptional Performance Citibank Client Services (CCS) Results Sales and Service Transformation Leads to Exceptional Performance Results: 20% improvement in Top Box Customer Satisfaction 44% (Jul07) 64% (Aug08) Results: 20% improvement in Top Box Rep Sat 53% (Jul07) 73% (Aug08) Business Group FY07 (Top Box) Aug 08Movement Client Escalation Unit38.4%55.3% Up 16.9% TeleSales 48.4%70.7% Up 22.3% Premium Client Services52.5%73.5% Up 21.0% Business Banking Client Services 50.6%73.5% Up 22.9% Primerica62.3%75.7% Up 13.4% Internet Client Services 44.7%56.0% Up 11.3% New Account Servicing 34.9%56.0% Up 21.1% New Account Opening 56.2%57.1% Up 0.90%

23 23 Sales and Service Transformation Leads to Exceptional Performance Next Steps Ultimate Secrets Training for CBNA Leadership Revise existing programs and service measurements to align with Ultimate Secrets Refine internal metrics to be statistically valid and random 1Q 09 Revise Mystery Shop categories and questions to align – Target 1Q 09 Revise Real Time Feedback categories and questions to align – Target 1Q 09 Develop a Meeting in a Box to launch program to field 1Q 09 Create training plan and schedule for full in the branches Determine best strategy for implementation Develop metrics and tracking to monitor progress Sales and Service Transformation Leads to Exceptional Performance


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