Closed Loop Feedback. Accelerating Customer Obsession through Feedback. Sarah Maguire Head of Products Analytics RBS

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1 Closed Loop Feedback Accelerating Customer Obsession through Feedback Sarah Maguire Head of Products Analytics RBS Information Information classification: classification: Internal Internal 1

2 Accelerating Customer Obsession is key to us becoming #1 for Service, Trust & Advocacy Jeff Bezos, Amazon 2

3 What we will cover 1 What is Closed Loop Feedback 2 Customer Measurement 3 Inner Loop 4 Outer Loop 5 Idea to Implementation 6 Results 3

4 What is Closed Loop Feedback? 4

5 What is CLF? What is Closed Loop Feedback? Closed Loop Feedback is about doing 3 simple things and doing them better than anyone else Listen to what customers and employees say Learn What you and your team need to do Act on what you have learned 5

6 What is CLF? There are 3 components of Closed Loop Feedback INNER LOOP OUTER LOOP RELIABLE METRIC / CUSTOMER INSIGHT 6

7 Customer Measurement 7

8 Customer Measurement We ask and understand across customer relationships Strategic 1.Relationships How do our customers perceive the bank vs. competitors? e.g. Banking with NatWest NPS 2. Goals How well did we help the customer meet their goals? e.g. Owning a Home (Mortgage) Operational 3. Journeys How well did we meet specific customer needs along the way? e.g. Applying for a Mortgage NPS 4. Interactions How did customers feel about single interactions? e.g. Talking to a Direct Mortgage Adviser 8

9 Customer Measurement How likely are you to recommend us to a friend? Our customers loyalty is measured through the Net Promoter Score Extremely likely 9-10 Promoters 7-8 Passives Detractors 30 Extremely unlikely NPS = Promoters - Detractors 9

10 Customer Measurement Would you recommend us to a friend? Why? And what are the most important reasons for giving us this score? Verbatim Feedback Would you be willing to discuss your experience with one of our team members so we can learn more about how to best serve you in the future? Yes No Do you have any outstanding issues we can help you with? Yes No Is there any other information you can provide that may assist us with resolving your issue? Verbatim Feedback 10

11 The Inner Loop 11

12 Inner Loop Listen, Learn, Act INNER LOOP OUTER LOOP RELIABLE METRIC / CUSTOMER INSIGHT 12

13 Inner Loop Everyone is doing it! 13

14 The Outer Loop 14

15 Outer Loop Outer Loop escalations are driving systemic change INNER LOOP OUTER LOOP RELIABLE METRIC / CUSTOMER INSIGHT 15

16 Outer Loop Listen, Learn and Act Listen It s good to have staff greeting me in the banking hall but do they have to be asking how they can help me as soon a I have a foot in the door Learn 15 similar inner loop comments Focus group with Branch Managers & Personal Bankers Act Re-position meeter greeters further back in banking hall Consistent access to ipads Closing the loop Positive feedback coming through Increase in customers helped through digital options 16

17 Idea to Implementation 17

18 Ways of Working One Team, Same Mission Start to full roll-out in 6 months Agile approach to delivery CLF Team drawn from 19 teams, all with one purpose In partnership with Maritz CX 18

19 The Results 19

20 The Results Closed Loop Feedback is fuelling Service Excellence Customers so engaged they re responding 3x more than they typically would Receiving more customer feedback in 1 day than used to receive in 1 month 1k Outer Loop escalations identifying new areas to improve the customer experience 1.5m Responses 90k Customer Call Backs NPS uplift of 17 points when we close the loop 20

21 In summary Closed Loop Feedback has taken Customer Obsession to another level Inner Loop We ve empowered our staff to listen, learn and act on customer feedback We ve motivated them to make our customers fans of the bank Outer Loop We ve identified new areas to improve the experience of all of our customers Agile is our new normal, with agile Journey Management teams delivering systemic change 21

22 We will win on what we do for customers, and becoming the best bank for serving and solving customers needs will always be our goal Ross McEwan, CEO RBS Group 22

23 THANK YOU 23