insights roadshow 2017 - melbourne | singapore · •customer stories •cx dictionary •direct...

Copyright 2018 Pepper. Confidential. ‹#›

Customer Experience

Joanne Thrift

Chief Customer Experience Officer

Pepper Money

Copyright 2019 Pepper. Confidential.


2

Agenda

01Identifying

the

problem

02Developing

the CX

strategy

03Taking

action

Copyright 2019 Pepper. Confidential. 2


Pepper is customer focused …



But the landscape is permanently changing

• Lack of service being shown by the major banks to customers who are experiencing real life.

• There is a growing cohort of Australians who are getting knocked back because of the changing bank policies

• Strong culture and ethos to help customer’s, but it’s been some time since we took a step back to assess how we are performing relative to customer expectations and the industry benchmark

• Onus has been on function leaders to make improvements within their areas of responsibility, without necessarily having a broader and connected view of the sort of experience we want a customer to have.

• Made a lot of investments into new technology platforms like Salesforce and EpiServer and expanded our operations into Manila, but we knew we could derive a lot more benefits for the customer

“How do you position your business to attract new customers?”



Customer Experience Diagnostic

Setting expectations with the customer is your job to help them get what they need, but it’s also important to protect their interests

We needed to baseline our CX performance

• Qualitative research with customers on the experience

• Diagnostic of our service operations across people,

process and technology

• Customer journey maps with pain points

• Attitudinal segmentation

• Understanding of where we were above/below industry

benchmark in terms of service and operations

• Full report and 58 recommendations

RecommendationImprove Customer

Conversation

Reduce Customer

Effort

Increase Customer

Retention

Optimise Efficiency

& Effectiveness

Number or

Recommendations9 16 6 27



We also completed a broader review

External considerations and headwinds that Pepper faces in the short to longer term


Customer Value Proposition Erosion1 Widening Market Segment2

Pepper has a unique CVP by servicing a segment of the market that has historically been underserved

The composition of customers we serve has changed, increasing competition.

Disruption3 Regulatory and Compliance4

Disruption to the financial services industry in Australia is coming from multiple directions.

Outcomes of the Royal Commission and other regulatory changes.


Developing the strategy


Copyright 2019 Pepper. Confidential.

Right size the

approach to

fit Pepper



Objectives of the CX strategy

Conversion

Measured by applications, Settlement % and Lead to Application metrics

To commence the journey to be a

customer centred business

Customer Satisfaction + Advocacy

Measured by NPS, CSAT and FCR

Retention

Measured by CPR% and NIM



Part of the business strategy

Internal Comms plan

Time it with the financial forecasts

Secondment of people from within

Build the ideas together

Inclusive of programs already on the go

Toggling between building capability and making customer experience changes

Cultural readiness

Existing Priorities

Solving for large, existing problems

Customer

Internal factors

External factors

Financial factors

CX Strategy journey is very important

Obvious

Less

obvious

Research Consider Work together Executive endorsement



Taking action



Three things we needed to do to start work

Build out the next level of detail and start the work

2

1

3

Transition the Marketing Team to be ‘Customer Experience and Marketing’

Broad understanding, support and permission to change



Represent Customer Design Experiences Measure

• Market Smarts

• Attitudinal Segmentation

• Customer Stories

• CX Dictionary

• Direct Sales journey

• Collections & Hardship journey

• CX Principles

• Triggered journey surveys

• Voice analytics - Sentiment

• bX, cX, dX Metrics

We design exceptional experiences through our expertise in brand, digital and

customer and ensure every interaction delivers on our promises

How

Why

What


Copyright 2019 Pepper. Confidential. ‹#›Copyright 2018 Pepper. Confidential.

Our principles

• Do what is right and fair for

the customer

• Speak truth to power

• Prove the commercial benefits

• Enable everyone to be useful

for the customer

• Lean into others for support


insights roadshow 2017 - melbourne | singapore · •customer stories •cx dictionary •direct...

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