Putting the Customer in the Driver’s Seat

© 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


Agenda

Wells Fargo Advisory Council Overview Evolution From Focus Group to Strategic Partner Lessons Learned Benefits Challenges Other initiatives Questions?

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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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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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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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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


Starts at the top….

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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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What we’ve learned…

Size Candor Accountability Thick Skin Executive Commitment Continuous Improvement

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What do we ask for?

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The Good, the Bad and the Ugly!

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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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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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Benefits

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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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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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Questions?

Millicent Calinog415-517-6193

[email protected]

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Putting the Customer in the Driver’s Seat

Documents

Transcript of Putting the Customer in the Driver’s Seat