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
In the third and final episode of our 3-part CMO50 video series exploring modern marketing and why it’s become a matter of trust, we’re delighted to be joined by Telstra’s former CMO and now digital services and sales executive, Jeremy Nicholas, and Adobe VP Marketing Asia-Pacific and Japan, Duncan Egan.
Flash back to the classic film, Willy Wonka and the Chocolate Factory. Television-obsessed Mike insists on becoming the first person to be ‘sent by Wonkavision’, dematerialising on one end, pixel by pixel, and materialising in another space. His cinematic dreams are realised thanks to rash decisions as he is shrunken down to fit the digital universe, followed by a trip to the taffy puller to return to normal size.
Why is it there is no shortage of leadership development materials, yet outstanding leadership is so rare? Despite having access to so many leadership principles, tools, systems and processes, why is it so hard to develop and improve as a leader?
As a nation united by sport, brands are beginning to learn money alone won’t talk without aligned values and action. If recent events with major leagues and their players have shown us anything, it’s the next generation of athletes are standing by what they believe in – and they won’t let their values be superseded by money.
Enterprisetalk
Mark
CMO's top 10 martech stories for the week - 9 June
Great e-commerce article!
Vadim Frost
CMO’s State of CX Leadership 2022 report finds the CX striving to align to business outcomes
Are you searching something related to Lottery and Lottery App then Agnito Technologies can be a help for you Agnito comes out as a true ...
jackson13
The Lottery Office CEO details journey into next-gen cross-channel campaign orchestration
Thorough testing and quality assurance are required for a bug-free Lottery Platform. I'm looking forward to dependability.
Ella Hall
The Lottery Office CEO details journey into next-gen cross-channel campaign orchestration
Great Sharing thoughts.It is really helps to define marketing strategies. After all good digital marketing plan leads to brand awareness...
Paul F
Driving digital marketing effectiveness