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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
Putting the Customer in the Driver’s SeatMillicent Calinog, Senior Vice PresidentCustomer Advisory Councils
Customer Advisory Board .org Annual Conference 2011, Boston, MA
May 3, 2011
© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
Agenda
Wells Fargo Advisory Council Overview Evolution From Focus Group to Strategic Partner Lessons Learned Benefits Challenges Other initiatives Questions?
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
Wells Fargo Advisory Council Program Overview Objective
– Ensure that Wells Fargo continues to be the leading cash management bank• Incorporate the voice-of-the-customer• Active discussion about cash management trends and needs
Focus: Wholesale Banking/B2B – Businesses who use Wells Fargo Cash Management Services– CFOs, Controllers, Treasurers
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
In the beginning….Started out as a Focus Group Born in 2004 Primarily a Feedback Tool for Banking Portal We got good feedback. VERY candid feedback. Participants loved the concept
– “Do it more formally and more frequently” Our customers talked to each other, and liked it!
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
And then…..the Wells Fargo – Wachovia Merger Doing more with less Doubled customer base = doubled # of councils Kept dedicated staff of 3 Focus on Development and Delivery
– Product, Service, Strategy and Communication
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
12 groups/24 meetings each year– Same objective– Cross-industry– By Market Segment & Region– Some industry specific
Pool of 500+ Active Alumni– Bi-annual conference calls– Industry and bank-sponsored conferences
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Today: Advisory Board of Strategic Partners
© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
Starts at the top….
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
What we’ve learned…
Listen! In-person The magic number: 10-12 Customers like to have input Squeaky wheels Time, trust and commitment Location & Food Pre-qualification
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
What we’ve learned…
Size Candor Accountability Thick Skin Executive Commitment Continuous Improvement
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
What do we ask for?
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The Good, the Bad and the Ugly!
© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
Benefits
Properly prioritized product roadmaps– Pool of pilot participants, user and focus groups.
Sales and Relationship Teams love the Councils– A differentiator– Deeper relationships – more sales opportunities– Customer References
Relationship extensions – CRITICAL!!!– Bank & Industry Conferences– Wells Fargo “offsites”– The Annual Report– Informal Customer References
Peer networking– LinkedIn
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
Benefits
We get to know our customers and our customers get to know us.
If done right, the Council becomes the answer to the question – “What do our customers think/want?”
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
Benefits
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
Challenges
Budget– Client perception– Fixed resources v. staying connected with growing Member
base Growing Alumni Base
– Bi-annual Calls– Newsletters– Community
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
What else are we doing?
Social Media– Community– Blogs– Ask An Expert
Expanding into cross-channel customer views Alignment with Ethnography & User Experience
Teams Assessing Customer “Labs”
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© 2011 Wells Fargo Bank, N.A. All rights reserved. Internal use only.
Questions?
Millicent Calinog415-517-6193
calinomi@wellsfargo.com
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