ecew 2013 anthony thomson - the proven benefits of metro bank's ce strategy

Rethink your CX strategy and become truly customer centric

Anthony Thomson

Founder and former chairman

Metro Bank

Customer-centric banks?

A customer-centric bank?

• Opened July 2010

• 18 locations

• >700 colleagues

• 170,000 accounts

• £1 billion balance sheet

• 93% of customers ‘satisfied or very satisfied’

• 8/10 would recommend to a friend

A customer-centric banker?

• Founder & CEO City Financial Marketing

• Founder & Chairman The Financial Services Forum

• Founder and Chairman Metro Bank plc

• Founder and Chairman…

Being truly customer-centric

• It’s not about re-thinking, it’s about belief

• It’s not about lots of things, it’s about one thing

• It’s about the three rules followed by exceptional companies

• It’s about the role of profit

Copyright Erik Denali Vision

Belief one thing three rules profit

photographer, Per Morten Abrahamsen

Belief one thing three rules profit

Belief one thing three rules profit

• At Metro Bank we believe:

• Customers care about value, not price

– Service, convenience

– Transparency, consistency

– First class not second class

• They expect a great retail experience -However they interact with you

Belief one thing three rules profit

Retail banking considers the customer relationship as its only real asset. All other traditional assets or balance sheet

items are nothing but manifestations of this relationship.

Dr. Stephan W. Kaminski

10

Belief one thing three rules profit

Great businesses create fans not customers

Belief one thing three rules profit

1. Build a differentiated model

2. Create a culture to reinforce the model

3. Execute relentlessly

And you will create fans not customer

Creating fans

Belief one thing three rules profit

• Exceptional companies, when faced with tough choices, follow three rules:

• 1. Better before cheaper. They rarely compete on price.

Belief one thing three rules profit

• Exceptional companies, when faced with tough choices, follow three rules:

• 1. Better before cheaper. They rarely compete on price.

• 2. Revenue before cost. They drive profits through price and volume, not thrift.

25,000 companies’ data

Over four decades

Belief one thing three rules profit

• Exceptional companies, when faced with tough choices, follow three rules:

• 1. Better before cheaper. They rarely compete on price.

• 2. Revenue before cost. They drive profits through price and volume, not thrift.

• 3. There are no other rules. Everything else is up for grabs.

25,000 companies’ data Over four decades

Belief one thing three rules profit

• It’s not about re-thinking, it’s about belief

• It’s not about lots of things, it’s about one thing

• It’s about the three rules followed by exceptional companies

• It’s about the role of profit

at_anthonythomson

at@anthonythomson.co.uk