Best CX Company People’s Choice profiles: CBA’s customer feel-good factor

CBA recognised for listening to customers, finding out their painpoints

The Commonwealth Bank of Australia (CBA) has been awarded the CX Company People’s Choice in the finance, banking and insurance category for its efforts to improve how it communicates with customers to find out what services they want from the bank.

The award was presented as part of the inaugural Best Customer Experience Companies List in Sydney. The list was developed and presented by customer engagement strategy consultancy, Fifth Quadrant, and supported by CMO and event sponsor, Oracle.

“The journey CBA has gone through from a customer experience perspective is nothing short of extraordinary,” said a CBA spokeswoman.“Over the past few years, there have been co-creation workshops and imbedding the strategy into our frontline staff that it’s less about selling products and more about how you make the customer feel.” In addition, CBA has been contacting its clients to try and develop the services or relationship with the bank they want.

“It seems so simple to just pick up the phone and find out what your customer wants- is it a transactional relationship? Or are they looking to build a partnership with you? The only way we are going to understand that is by asking them," said the spokeswoman.

Because CBA is a large organisation with approximately 40,000 staff, a customer experience and advocacy centralised department is being created to share information and strategies.

“It’s not all about success stories but the other stuff that happens like complaints and the steps we have taken to eradicate that [complaint] and take it further,” said the spokeswoman. “We want continuous improvement and to help make it [customer experience] better.”

Commenting on the Best CX Company People’s Choice Finance, Banking & Insurance award, the spokeswoman said the awards are a “fantastic reflection” of the fact that the financial services industry has changed.

“It’s not about focusing on the products that you are selling but on the way you make your customers feel. That’s very important to CBA at the moment with client centric activities and finding out what their pain points are,” she said.

More from the inaugural Best CX Companies List

Follow Hamish Barwick on Twitter: @HamishBarwick

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia

Signup to CMO’s new email newsletter to receive your weekly dose of targeted content for the modern marketing chief.

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

Top tips to uncovering consumer insights for business innovation

An in-depth understanding of consumers sits at the heart of what we all need to do, but we know it’s not always easy to uncover insights that will unlock a true innovation opportunity.

Matt Whale

Managing director, How To Impact

Is your customer experience program suffering bright shiny object syndrome?

You may have heard of ‘bright shiny object syndrome’. The term is used to describe new initiatives undertaken by organisations that either lack a strategic approach, or suffer from a failure to effectively implement.

Leveraging technology to stand out in the sea of sameness

The technology I'm talking about here is data and marketing automation. Current digital marketing methodology, much as it is practiced at Bluewolf, dictates the need for a strategy that does four things: Finds the right audience, uses the right channel, delivers the right content, and does all of that at the right time.

Eric Berridge

CEO and co-founder of Bluewolf, an IBM Company

Lead Management is very important part of the process. For anyone running Facebook Lead Ads I would recommend using this service.Get your...

Dirk Lo

How this fintech startup is improving content marketing and lead generation

Read more

I am agreeing with Mr. Tyron Hayes that a measured test-and-learn approach could be missing opportunities to not only better engage custo...

rush essay reviews

CMO interview: How Curtin University’s marketing chief is using test and learn to cope with complexity

Read more

Excellent!

Dr Sadasivan,US

Shakespeare shows data and creativity aren’t Montagues and Capulets

Read more

Great article! Agreed with all... Matthew Lerner, Deeps De Silva... When a company has a great product that solves customers needs, a gre...

James Tyler

Why marketers are embracing growth hacking techniques

Read more

Very good article, Social media analytics helps in problem identification. They can serve as an early warning system for negative custome...

BizVinu

Four ways to use social media to boost customer loyalty

Read more

Latest Podcast

More podcasts

Sign in