EARNED VS.

CAPTIVE LOYALTY:
Customer experience you can bank on

Welcome to Today’s Webinar

EARNED VS. CAPTIVE LOYALTY:
Customer experience you can bank on
Mike Perkowski
Co-Founder & Partner
New Reality Media, LLC
Mike Perkowski is co-founder and partner of New Reality Media LLC. Mike has nearly 30 years of
experience following the computer industry as a reporter, editor, publisher and marketing
executive. Before co-founding New Reality Media, he was co-founder and chief operating officer of
Microcast Communications, a media company covering the IT and municipal broadband
marketplaces. Previously, he spent 10 years at Ziff Davis Media in a variety of executive roles,
including VP and general manager of Ziff Davis’ Market Experts Group; vice-president of corporate
marketing; publishing director of Smart Partner, and associate publisher for marketing at PC
Magazine. Mike also spent 13 years at CMP Media in various editorial and publishing leadership
roles, including editor-in-chief and publisher of Computer Systems News. He has directed the
development and implementation of numerous integrated marketing programs for his clients at Ziff
Davis, CMP and as an independent marketing consultant specializing in new-product launches, and
has led such disciplines as market research, customer event programs and sales training.
EARNED VS. CAPTIVE LOYALTY:
Customer experience you can bank on
Kristy Brandon
Senior Vice President, eBanking
Comerica Bank
Kristy Brandon serves as Senior Vice President of eBanking Retail Products at Comerica
Bank, one of the top 25 banks in the US. In this capacity, she leads Comerica’s retail, wealth
and small business eBanking channels including online and mobile. She is a member of the
Consumer Banker’s Association Digital Committee and the Fiserv Digital Banking Executive
Council. Kristy’s 20 year career with pioneering online and mobile Banking industry
companies started as employee #42 with National Payment Clearinghouse. During her
adventures in eCommerce with Intuit, CheckFree and Fiserv, Kristy has been instrumental
in helping many of the top 50 US Banks and Credit Unions orchestrate and implement
world-class online strategies. She also directed large operations involving staff and vendors
around the world. Throughout her career she has received numerous awards for her
combined technical and strategic excellence. Kristy actively posts timely financial news on
Twitter @eBankingGirl. She currently resides in metro Detroit.
EARNED VS. CAPTIVE LOYALTY:
Customer experience you can bank on
Jason Conrad
Vice President
ForeSee
Jason Conrad oversees ForeSee’s retail banking business and is a long-
time advocate for delivering great experiences. He is the author of
numerous articles about customer experience in financial services
industry and speaks frequently about CX analytics and best practices.
Jason is a member of the Digital Analytics Association (DAA)and the
Customer Experience Professionals Association (CXPA) and is a
recipient of the coveted “ForeSee Builder Award”. He is an alumni of
California State University, Northridge.
EARNED VS. CAPTIVE LOYALTY:
Customer experience you can bank on

Karaline Venezia
Banking Expert
ForeSee

Karaline Venezia partners with ForeSee’s Financial

Services clients to help them build and scale enterprise
level CX programs. She has over 12 years of experience
consulting with Fortune 500 companies to help them
leverage data to drive business decisions. She earned
her BS in Applied Economics and Management from
Cornell University.
Customer Experience
You Can Bank On
 AGENDA

1. FXI Banking Report: Customer Experience Findings

2. Leading with CX at Comerica

3. CX Strategy and Solutions

4. Q & A
 W H Y C X M AT T E R S

Bank and credit union customers who have a great CX are:

76% 63% 86% 58%

more likely to more likely to more likely to more likely to
buy additional continue their recommend trust the bank
services relationship the bank
with the bank (NPS)
 YOUR CUSTOMERS WOULD
SWITCH IF IT WERE EASY TO

of bank customers
are loyal only because
1/4 it's hard to switch

If it were as easy
would definitely consider their to switch banks as
primary bank when in the it is to switch cell
38% market for new services
phones, would
you do it?
21%
SAY YES
Y O U R C U S T O M E R S WA N T F I N T E C H

of people would

53%
ON AVERAGE
use fintech services
through their bank
if they were offered.
 Branch + Online = Happy Customers

If your bank’s online

2/3 functionality was

ideal, would you still
want a branch?
of website visitors leave
digital experiences for
another channel when
purchasing additional
49%
SAY YES
products or services.
 M A P P I N G Y O U R C U S TO M E R ’ S PAT H
S TA R T S I N ENDS IN

BRANCH
94%
40%
BRANCH

WEB 73%

36% 22%

WEB
MOBILE
59%
18% 25%
MOBILE
CONTACT
CENTER 67%
10% CONTACT
5% 14% CENTER
M A P P I N G Y O U R C U S T O M E R ’ S PAT H
How To Get & Keep Customers
 L O YA LT Y M AT T E R S

Regional banks have

the most to win and the
Large national banks
most to lose: their Credit unions rely on
have lower confidence
customers are more likely consumer confidence for
scores, but it also matters
to defect when they make loyalty more than other
less for them (it’s a lower
mistakes, but also more types of banks.
priority for improvement)
likely to be loyal when
they provide a great CX.
Comerica’s Customer
Experience Journey
About Comerica Bank
Comerica Bank Promise

The Customer Promise

There are certain people who expect more from their bank. Some are working hard to build their dreams; others
have already worked a lifetime to achieve them. Yet all of these customers demand one thing: the same
unwavering commitment to excellence that defines their own lives.

At Comerica, this is something we’ve understood for over 164 years. Which is why we provide the higher level of
service, the higher level of knowledge, and the higher level of experience that our customers want, and deserve.

It’s also how we deliver on our most sacred promise: to raise the expectations of what a bank can be.
 Comerica Customer Focus

 Evolution of Customer Behavior

Changes
 Movement to Multi Channel
 Began a ForeSee Relationship in 2014
to compliment other customer
satisfaction reporting:
• How are we doing?
• What should we do?
• Why should we do it?
Why ForeSee?

Satisfaction: The Best Unit of Measure

EXPERIENCE & FUTURE FINANCIAL
EXPECTATIONS SATISFACTION BEHAVIORS SUCCESS

Experience and Expectations define Satisfaction

 Satisfaction determines what consumers do next
 Satisfaction drives financial success

Links Customer attitudes with outcomes

Comerica Customer Focus

 Specifically Answer the Questions:

◦ How satisfied are our customers?
◦ How do our customers’ satisfaction levels and experiences compare to those
of our peers?
◦ What’s the demographic profile of our Web and Mobile Banking users, e.g.,
age, gender, income, etc.?
◦ How frequently do they use Web and Mobile Banking?
◦ Which features are most important to them? Millennials have a significantly
lower satisfaction score
◦ Did system problems impact customer satisfaction levels compared to other age groups.
What improvements can we
◦ Did customers like or dislike system enhancements that were implemented make for them?

(e.g., Web Banking Upgrade)?

◦ What types of system changes would provide the greatest lift in customer
satisfaction? Where should we invest our future enhancements?
Comerica and ForeSee Customer Focus

 Multiple engagement point across customer experience

• Web and mobile Desktop Performance and Satisfaction measured Daily

Performance 100
 Regular Insight Reviews 89
91 93
90 85 90 87 90 90
96
91 87 86 89
90
90 89 92
85 86 85 86 86 85 85 88 87 83
87 87 88
83 87 81 83 83 85 85 84
 Prototype Review / Feedback 80 84 80 80 80 78 80
78 75 76 78 76
77 73 74 74
70 72 72 70
69

 Usability Audit Satisfaction

62
58
62

• Mobile experience 41
Outage
33

 Competitive Usability Review

Mobile Performance and Satisfaction measured Daily
• Specific Pain Point Deep Dive Performance 100 100
94
98
96
85 91 90 84 92
86 87 89 8992
86 87 85 84 86 88 85 89 90 8687 8889
8585 85 8986 8680 86
 System Outage Impact 83 79
82 79 80
86
81 8082 80 80 82 80
787275 77 78 78
76 75
74
76 78
7173 74 76 74 72 73 72 77 78
71
68 68 7069 70
6465 65 6662
62
 Contact Center performance 55
56
5047
5456
58 58

• Competitive review Satisfaction

Outage 22

 Pre – Post Launch Review

 Results / Use of Customer Focused ForeSee Data

 Mobile Upgrade
• Executive team high level
updates, real time pulse of
customer reaction
- Satisfaction score
- Ad hoc comments
+5.4
from pervious report

Satisfaction Is there anything else you would like to share that we haven't asked about? Date

100 “I was very pleased with the ease of use, clarity of the features, and how quickly they worked.” 9/11/2017

100 “The latest upgrade is a great improvement! I love it!” 9/11/2017

“Layout, speed and functionality are all in the app. Great job! The only problem I had was on the
100 9/12/2017
iPad. The first download didn’t work. Deleted and reloaded, worked.
 Measuring Discrete Touchpoints Across the Customer Journey
AWARENESS SUPPORT

RESEARCH SERVICE
CUSTOMER
CONSIDERATION PURCHASE FULFILLMENT

Browse Call Center

Self-Service Customer Service
Support
Application On-Boarding

Digital
Contribution Account Opening
Mobile App
Email Support
Email
Application Abandon Online Banking

Branch
Live Chat
Customer Service

BUSINESS
GOALS PURCHASE
AFFIRM FULFILLMENT

EDUCATE SERVICE EXPANSION

/RETENTION
INFLUENCE LOYALTY
CRM
 Our Predictive Analysis Model

DRIVERS OUTCOMES
SCORE IMPACT 70.2 IMPACT SCORE

81 Look And Feel 0.3 -4.0 CALL CUSTOMER CARE 64

73 Navigation 2.2 3.5 REMAIN A CUSTOMER 81
71 Tasks and Transactions 0.5 2.5 RECOMMEND 74
78
70
Site Information
Performance
1.2
0.6
0
79.3 100 3.3
2.2
RETURN
BRAND CONFIDENCE
70
76

PATENTED
Which drivers of customer CX SCORE What’s the impact
experience should I address? to my business?
Where am I right now?
Where should I be?
 Prioritize Investments Across the Customer Journey

PRIORITY PRIORITY PRIORITY

#1: Online Banking #2: Contact Center – Service #3: Mobile App

Your customers had a difficult time
understanding your links. Improving
your site navigation and layout will
help customers increase task
accomplishment and defer call
center call volume.
Service Resolution is the most
unsatisfactory part of the call
experience. Focus on improving
resolution timing and completion
to improve customer satisfaction.
Improving your task process and
navigation will help customers
increase task accomplishment and
defer call center call volume.

ForeSee’s patented Priority Index tells you which investments across the business will
have the most impact on your business.
 FORESEE CX SUITE

Executive Analyst Manager …

Dashboard Mobile Apps Alerts Ad Hoc Reporting BYO

UNIFIED UX
API

APPS Partner
& Custom
& TOOLS
Apps
CX CX Priority Feedback Replay Text Case Ratings Survey
Measurements Index Analytics Management & Reviews Builder PRO FESSIO N AL
SERVICES
Strategic Insights &
Architect Services
Platform Components
PLATFORM
Methodology – Customer Experience Journeys – Benchmarks

Data Lake

DATA Contact Online APIs

Web Mobile Branch Social
COLLECTION Center Chat
 CX DRIVES RESULTS ACROSS YOUR TEAMS

EXECUTIVES BRANCHES DIGITAL CUSTOMER CARE

KPIs Selling Model Fulfillment Script Optimization

Prioritization Optimization Product Roadmap Team Leaderboards
Strategic Focus Operationalize VOC Site Optimization Customer Recovery
Dashboards Leaderboards Usability
Customer Recovery A/B Testing
F O R E S E E FINANCIAL SERVICES CLIENTS
 STEP 5
CX BANKING GROWN EARNED LOYALTY
“We don’t know how to measure and discern between
STEPS loyal customers versus retained customers.”

STEP 4
OPTIMIZE THE JOURNEY
“We don’t know how to optimize upsell opportunities
across channels and products to customer segments.”

STEP 3
IDENTIFY THE NEXT BEST ACTION
“We don’t know when to target the next best upsell,
to whom, and through which channels.”

STEP 2
ENRICH SEGMENTATION
“We don’t have enough data on customer attitudes for
key segments and where they are on their lifecycles.”

STEP 1
MEASURE CX - EVERYWHERE
“We don’t have a consistent and proven way to
measure CX across the omnichannel journey.”
Q&A
Thank You