FUTURELAB The future of finance is human! Technology driven, but human-centric 22/11/2017 1
FUTURELAB Stefan Kolle Some credentials All nice & well … but I still need to grow! Welcome Allow me to introduce myself
Our Purpose To make the world a more Our Promise We help you make customer experience happen. Why we exist customer-friendly place (for fun & profit) What we deliver Profitably. Our Activities Strategic Programmes Design Implement Accellerate Sustain What we do • Develop a customer mindset • Transform the organisation Develop customer Translate ideas into Enthuse all Ensure continued • Challenge the industry processes, KPI’s, programmes based on stakeholders so they momentum and current and future trainings, that ensure (pro-)actively innovation across the needs. implementation. contribute. business. Tactical interventions • Increase customer value • Manage multi-channel journey • Improve employee effectiveness • Improve commercial impact • Align departments, processes and systems around the customer. Strategy Experience Culture Customer Voice Enablers Industry solutions One of the strongest customer strategy teams in EMEA World-class credentials Automotive A structured approach for automotive firms to embed the customer perspective in every aspect of their business, from customer journey development to POS training. (Mass-affluent) Finance An approach for financial retailers, insurers and asset managers to capture the attention of mass-affluent & high-net- worth customers. Telecommunications A structured approach for telecommunication firms to embed the customer perspective in every aspect of their business. We make Customer-Centricity happen. Profitably.
FUTURELAB The future of finance is human! Technology driven, but human-centric 22/11/2017 4
Is that so? A difficult question 22/11/2017 5.
Remember these? ...Or these? How about these? My pain I’ve been a technology preacher all my life 22/11/2017 6
FUTURELAB My pain I’ve heard a lot of buzzwords. Even made some up. 22/11/2017 22/11/2017 7
FUTURELAB My pain And finally the future is here! 22/11/2017 8.
FUTURELAB Silly Question What is this? 22/11/2017 9.
FUTURELAB The future is here My car can drive itself 22/11/2017 10.
FUTURELAB The future is here Marty McFly would be happy with these 22/11/2017 11.
FUTURELAB The future is here There is an app for everything, even loan quotes App scans car ads to generate car loan quotes
FUTURELAB My pain What is next – pre-cog delivery? 22/11/2017 13.
FUTURELAB Challenge But... is this what I wanted? 22/11/2017 14.
FUTURELAB Challenge What do you tell a shopkeeper in Cuba? 22/11/2017 16.
FUTURELAB My pain This is madness! 22/11/2017 17
FUTURELAB Low Value What Service? High Value High Tech Affinity What we thought Low Value High Value was not exactly true... High Tech High Tech Affinity Affinity How Service? Low Value High Value Low Tech Affinity Low Tech Affinity Low Tech Affinity Service Design It all goes too fast We can’t keep up
FUTURELAB It’s a chatbot It’s a human! It all goes too fast We become suspicious 22/11/2017 19.
FUTURELAB … ??? It all goes too fast We can’t manage 22/11/2017 20.
FUTURELAB It all goes too fast As failures keep on piling up... 22/11/2017 21
FUTURELAB It all goes too fast We have a serious trust crisis on our hands 22/11/2017 22
FUTURELAB http://www.information-age.com http://bankinnovation.net It all goes too fast With financial industry taking the biggest hit... 22/11/2017 23
FUTURELAB Challenge CEOs (and CFOs) have the toughest balancing act ever 22/11/2017 24.
FUTURELAB Question 2. How do you convince and align? 22/11/2017 25.
FUTURELAB Question 3. And with everyone running into the same direction... 22/11/2017 26.
FUTURELAB Question 3. ...How DO you differentiate? 22/11/2017 27.
FUTURELAB So… what about that “human - centric” approach? Answering the difficult question 22/11/2017 28.
FUTURELAB 1. Design tech around people, not people around tech 2. Put the customer back into financial conversation 3. You have (human) assets – use them I have a variety of solutions, but will limit this presentation Three main ways to human-centric technology
FUTURELAB 1. Design tech around people, not people around tech 2. Put the customer back into financial conversation 3. You have (human) assets – use them I have a variety of solutions, but will limit this presentation Three main ways to human-centric technology
FUTURELAB Solution One The experience counts at every step of the journey 22/11/2017 31
FUTURELAB Customer Experience Management Is about managing emotions at each step of the journey
FUTURELAB This can provide you with a radically new perspective Case: An Automotive Brand The Traditional Perspective Pre-sales Sales After Sales The Customer’s Reality Search Evaluate Try Select *** Wait *** *** *** Search * * * = Confidential 22/11/2017 33
THE CUSTOMER PERSPECTIVE Lexi the dog Case: Lexus Use advanced DB management to create delight moments
Am I insured? I did pay for it… Case: Touring Immediate policy after payment to eliminate stress
Please accept our condolences Case: ING After news about a sad event, send an agent with pre-filled docs 22/11/2017 36
FUTURELAB Real life case: what can you contribute? Who decides on the layout of the customer invoices? (cc) miguelb
FUTURELAB 1. Build your tech around emotion. 2. Manage every step of the journey. 3. Tech should help going through the steps easier, not harder. I have a variety of solutions, but will limit this presentation Design tech around people, not people around tech
FUTURELAB 1. Design tech around people, not people around tech 2. Put the customer back into financial conversation 3. You have (human assets) – use them I have a variety of solutions, but will limit this presentation Three main ways to human-centric technology
FUTURELAB “Let’s go WOOOOOWW!!” “Let’s spread love & hug ” “Let’s be like Disneyland” The problem I have always had with customer experience thinking Being human-centric is NOT about the fluffy stuff
It is about hard cash. “ Why should I allocate precious budget to experience ?” FUTURELAB
Customers who are so happy that they recommend... spend more negotiate less stay longer as customers are more open to upselling are easier to service upgrade quicker are ready to refer to others increase staff morale etc. Experience is about making money You know it very well: human emotion = money
FUTURELAB The worst I’ve ever seen The best I’ve ever seen 5:1 6000:1 Experience is about making money Happy customers are most profitable Personal experience in 15 industries … and counting
FUTURELAB Human happiness… do you spell it with € or €€ ? Why focus on Customer Experience? Suddenly every executive likes customer experience
FUTURELAB • Car margin € 1.000 How to build a (simple) business case FUTURELAB • Let’s calculate Average life: 5 years • Avg. service visit margin: € 50 Detractor Promoter Passive 0-1-2-3-4-5-6 9-10 7-8 # Purchases over life time ___________ ___________ ___________ Purchase margin of car ___________ ___________ ___________ ___________ ___________ ___________ Value service visits over life time ___________ ___________ ___________ Customer Value ___________ ___________ ___________ Word-of-mouth effect (+/-) ___________ ___________ ___________ Total Customer Value Value
FUTURELAB • Car margin € 1.000 How to build a (simple) business case FUTURELAB • Let’s calculate Average life: 5 years • Avg. service visit margin: € 50 Detractor Promoter Passive 0-1-2-3-4-5-6 9-10 7-8 # Purchases over life time 4 1 2 ___________ ___________ ___________ € 4.000 € 1.000 € 2.000 Purchase margin of car ___________ ___________ ___________ € 1.000 € 200 € 500 ___________ ___________ ___________ Value service visits over life time € 5.000 € 2.500 € 1.200 ___________ ___________ ___________ Customer Value ___________ ___________ ___________ Word-of-mouth effect (+/-) ___________ ___________ ___________ Total Customer Value Value
FUTURELAB Word of Mouth Impact at a Global Luxury Car Brand How many customers How many customers did you stop from did you bring us? choosing us? 1 4
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