Mike Pratt. Turning conversation into sales CRM at Westpac

Transcription

1 Turning conversation into sales CRM at Mike Pratt Group Executive, Business & Consumer Banking Retail Finance Asia-Pacific Conference & Expo Kuala Lumpur 30 th March Agenda Background Key challenges for CRM at Future Needs Leads & Relationship Builder Dashboard & Executive Reporting 2

2 Background - Banking Corporation today Australia s First Bank Established in 1817 Position as at 30 September 2004 Total assets A$245bn Total deposits A$146bn Net profit A$2,539m Market Capitalisation A$34bn 1,065 points of representation 8.2 million customers 25,683 employees Composition of cash earnings (as at 30 September 2004) New Zealand & Pacific Banking 16% BT Group 8% Institutional Bank 19% Other 5% Business & Consumer Banking: Consumer 27% Business & Consumer Banking: Business 25% Total Business and Consumer Banking 52% 3 Background - Reputation/sustainability enhancing returns Sustainability - supporting the value chain Staff s Returns A great place to work Improved staff retention Enhance ability to attract quality staff Number 1 in customer service Ethical and responsible Trustworthy Enhance sustainability of returns Reduce cost of staff turnover Improve customer share of wallet Number 1 financial institution globally in Dow Jones Sustainability Index 2003/04 - for the third year in a row. Australia Number 1 company overall RepuTex Social Responsibility Ratings Only company to receive a AAA rating. 4

3 Background - s strategy is founded on increasing customer focus to become the No 1 service organisation in the financial services industry Vision To be a great Australasian Company A great place to work A superior customer experience 1 st quartile shareholder returns A good corporate citizen Mission To be the No 1 service organisation in the financial services industry by Sept 2005 Values Teamwork Integrity Internal Service Quality Focus DNA Strategy How? Outcomes Our high performance culture: Quality people Effective processes Values and mind-set Superior Experience Loyalty Core Group Objectives 2005 Increase employee commitment by at least 5% Improve customer satisfaction by at least 5% Deliver cash earnings growth of 7% to 9% Top 5 corporate citizenship ranking Employee Shareholder Employee Commitment Employee Retention Employee Productivity Differentiator: Superior Execution Service Profit Chain Satisfaction Revenue Growth Profitability Shareholder Value Ask Once 5 Key Challenges for Targeting the right customers Increase customer satisfaction Improve sales discipline and leadership 6

4 CRM at - Our CRM Program was conceived as a 5 year initiative and core to achieving our competitive advantage Sales & Service Transformation Sales Skills Upgrade CRM at Marketing Transformation Technology Delivery Transformation Capture future customer needs and profiles Lead actioning Easy to do referrals, service requests, single customer view, etc. Proactively call customers Disciplined sales management Dashboards for visibility From above and below-the-line to Integrated Marketing From intuitive customer selection to needs and event-triggered campaigns Install market-leading packaged applications Integrate these applications with existing systems Strategic jointdevelopment Strategic Benefits Revenue uplift Competitive advantage through CRM capability leadership Superior customer experience Operational excellence & staff satisfaction 7 CRM at - The CRM capabilities drive revenue growth and support our Ask Once strategy They extend across Service, Sales and Fulfilment. Service Sales Fulfillment Continuous conversation can see current position of customer across all channels Sales force management and measurement future needs and follow up Referrals and service requests Lead generation and actioning Integration with other applications (e.g. lending fulfilment) to support continuous conversation 8

5 CRM at Employee Partner Multi Channel Access Branch Web Call Centre Face to Face ATM Managing the Experience Contact Management Future Need-based Leads Leads (NCR Relationship Optimiser) Event-based Leads Product/Transaction History Relationship Builder Feedback/Complaints (Siebel ebusiness) Profile & Needs Capture Enabling the Sales & Service Team Sales & Service Skills Opportunity/Pipeline Management The Way Sales & Service Leadership Analytical Optimisation Managing Business Dashboards & Scorecards Alerts Dashboard & Insights (Siebel Analytics) Aligned Targets Event Behaviour & Detection Leads Preference (Relationship Optimiser) Value Needs & Risk Adjusted Enterprise Propensities Modelling Environment Pricing (SAS eminer) Credit & Fraud Metadata Siebel management Analytics Managing (Real-Time) Information Operational data Data warehouse store NCR Teradata/Oracle MQ Middleware Series/ Websphere 9 CRM at - The footprint will cover approx 20,000 staff and also enable the retirement of 5 legacy applications and drive simplified MIS BEFORE CRM CAPABILITIES DEPLOYMENT Roles Reg/Bran Mgr TL & BFM CSR2 CSR1/ Teller 2,888 RM Wealth 711 Private Bank 171 HFM DS&S BCB Non sales staff BTSS contact 1,789 Multiple sales systems cause : Confusion for staff Missed opportunities Lack of visibility on sales activity COLTS ITS ASTS CIS WL RB CRM Tools MRS BBPRS Dashboard GDW Roles AFTER CRM CAPABILITIES DEPLOYMENT Reg/Bran Mgr TL & BFM CSR2 CSR1/ Teller 2,888 RM Wealth 711 Private Bank 171 HFM DS&S BCB Non sales staff BTSS contact 1,789 Full Deployment of one Management system will : Drive productivity Simplify processes for staff Provide management with timely sales information Drive cost reduction WESTPAC LEADS RELATIONSHIP CRM CAPABILITIES BUILDER 10 Reach deployment with additional funding in FY05 DASHBOARD GDW

6 Future Needs - Systemising proactive customer contact and leads is the heart of CRM at Review daily transactions / vouchers Pick high potential customers Make this consistent across 20,000 staff 11 Future Needs - CRM Capabilities allow for future customer needs to be captured, remembered and actioned at the appropriate time 12 Relationship Builder

7 Leads & Relationship Builder - How does it work? Profile and Future Needs Banker enters the Future Need in Relationship Builder (RB) need & profile discussed Outbound Call At some time in the future, Leads delivers the lead to a Banker via Relationship Builder $ $ / Banker Talk CRM Relationship Builder passes the Future Need to Leads Leads Business Benefits Corporate memory capitalising on sales opportunities which may otherwise be forgotten A continuous conversation with the customer 13 Leads & Relationship Builder Lead Generation & Distribution work in concert to manage interaction Lead Distribution via Relationship Builder Interaction Management Advertising & PR Mail House Direct Mail Advisers Leads CRM ATM s Internet Relationship Managers Call Centre (Inbound & Outbound) Branch Contact through channel response captured and fed back to Leads Website Qualified, quality leads Relevant sales channel Right information to support the campaign Applies exclusion and recency rules Automated Channel Management Systems Internet Banking ATM SMS IVR Communication with customer managed based on : responses to each step of the campaign contact Business rules in the Leads Communication Plan 14

8 Leads & Relationship Builder In business banking, CRM is a key part of our strategy and ability to execute Segmentation and Technology Product & Risk Management Banking Distribution Experience + Relationship Builder Credit Reengineering + Industry Solutions + SME Centre BFM Wealth Business Direct Middle Markets & Priority Senior RM CM RSM Recruitment, Training and skill development People Key: RM RSM CM - Banking Service Representative - Relationship Manager - Relationship Sales Manager - Manager (service) 15 Dashboard & Reporting - The Dashboard provides real-time sales management, visibility of the sales pipeline and sales effectiveness metrics Sales Results Ratios Feedback What is our targets? x = Results 16

9 Dashboard & Reporting - The Dashboard can support the cascading of the corporate scorecard throughout the organisation Aggregation Organisational Vantage Points Executive Managerial Team Leadership Individual Contribution Sales Results Ratios Feedback Sales Results What is our SLA and FPOC? Ratios Sales Results Feedback What is our SLA and FPOC? Segments Ratios Feedback Sales Results What is our SLA and FPOC? Campaigns Products Channels Ratios Feedback Drilldown What is our SLA and FPOC? Cross Functional Vantage Points 17 Disclaimer The material contained in this presentation is intended to be general background information on Banking Corporation and its activities. The information is supplied in summary form and is therefore not necessarily complete. Also, it is not intended that it be relied upon as advice to investors or potential investors, who should consider seeking independent professional advice depending upon their specific investment objectives, financial situation or particular needs. The financial information contained in this presentation includes non-gaap financial measures. For a reconciliation of these measures to the most comparable GAAP measure, please refer to financial statements filed with the Securities Exchange Commission and Australian Stock Exchange. 18