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Speaking up: The voice of the commercial client and how it should drive your business
Teri Ginther Emprise Bank
Mike Horrocks Experian
#vision2014
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A single positive review and interaction can increase lead conversations by
20% Source: PowerReviews
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Survey question
What business goal
can be most
impacted by an
effective customer
experience strategy?
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Goals impacted by an effective customer experience strategy
Churn 1%
14%
Retention
11% Net Promoter Score
17%
Customer satisfaction
12%
Marketing ROI
9%
Profit
37% Revenue
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How does customer experience impact your bottom line?
73% 22%
5% 0%
Heavily Somewhat A little Not at all
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Emprise Bank
Original charter from 1910 (Stockyards National Bank)
W.A. “Mick” Michaelis Jr. and partner purchased oil company in 1965 – included $20 million Stockyards National Bank
Family owned for 48 years
Over $1.5 billion in assets
38 locations in Kansas
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It all started …
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Assumptions
► We know already how they will react
Not responding to changes
Not willing to ask for feedback
Not responding once we have the feedback
Dangerous roads
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Are we doing the wrong thing?
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Broad market surveys
Small business
Strategic commercial clients
Listening / segmenting best practices
Local market forums and focus groups
What our commercial clients told us
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Balance how we are servicing our clients
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Reward me!!
Is it still all about price?
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Survey question
At the end of the day,
is it really only
pricing that matters?
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Focused only on wins
► “Our clients love us”
Not having a formal action process in place
Not having executive buying in place
Potential
pitfalls
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The resolution Listen to clients, change and grow
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Customer sentiment
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Survey question
What are the top
decision drivers for
your clients?
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“Emprise is interested in making a long-term business relationship.”
"Emprise said, 'Yes, we will figure something out. We can work with this.‘”
“We wanted to see if the banks seemed to be flexible enough, were very much business oriented, and viewed themselves as partners rather than just a lender.”
“We like the way they deal with us after the loan is done.”
“I think the key at Emprise is that we worked with a group of probably six different people as a team. It was not a one off where you talk to this guy about that and this guy about that. They were all involved in the whole thing.”
Great customer reviews
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“I've known Emprise forever and they're easy to get along with. They're good bankers, and they have good common sense. They don't hassle us with a lot of financial information, like other banks. If they did I wouldn't borrow any money."
“I don't know of anything we don't like, except that they probably are not as aggressive on rates as some of the other banks.”
“Honestly, I felt more comfortable with Emprise, but it was strictly about the rate.”
Opportunities to change
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Key takeaways
Focus on losses
as much as the wins
Have a formal “next steps”
program in place
Balance your feedback
If you are not willing to take action
on what you will hear, don’t ask
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For additional information, please contact:
[email protected] | @mikehorrocks
Hear the latest from Vision 2014
in the Daily Roundup:
www.experian.com/vision/blog
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