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  • Wells Fargo: Value Proposition / Cluster

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    Honeylyn SM Araneta
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    Wells Fargo uses a balanced scorecard approach to improve its value proposition to customers. The scorecard helps Wells Fargo focus on key metrics across financial, customer, internal process, and learning & growth perspectives. Specifically, it aims to increase revenue per customer by getting existing customers to purchase more services through a single delivery channel while keeping costs fixed. It also seeks to reduce costs per customer by expanding e-options and automating call centers to make banking more convenient with better services. The balanced scorecard helps Wells Fargo communicate its strategy and align goals to maximize profits.

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    CMA Wells Fargo

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    Wells Fargo uses a balanced scorecard approach to improve its value proposition to customers. The scorecard helps Wells Fargo focus on key metrics across financial, customer, internal process, and learning & growth perspectives. Specifically, it aims to increase revenue per customer by getting existing customers to purchase more services through a single delivery channel while keeping costs fixed. It also seeks to reduce costs per customer by expanding e-options and automating call centers to make banking more convenient with better services. The balanced scorecard helps Wells Fargo communicate its strategy and align goals to maximize profits.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    72 views5 pages

    Wells Fargo: Value Proposition / Cluster

    Uploaded by

    Honeylyn SM Araneta
    Wells Fargo uses a balanced scorecard approach to improve its value proposition to customers. The scorecard helps Wells Fargo focus on key metrics across financial, customer, internal process, and learning & growth perspectives. Specifically, it aims to increase revenue per customer by getting existing customers to purchase more services through a single delivery channel while keeping costs fixed. It also seeks to reduce costs per customer by expanding e-options and automating call centers to make banking more convenient with better services. The balanced scorecard helps Wells Fargo communicate its strategy and align goals to maximize profits.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 5

    Wells Fargo

    Value Proposition / Cluster

    Target Segments + Key Benefits


    Offered + Unique
    Capabilities > Value Proposition

    Online Account
    38 Years Old Access and Bill First e-Banking
    Pay, Transfer Products
    Funds

    Household Income Conduct Stock and Internet and Wells Fargo OFS
    75k-100k Bond Trades Branch Banking Provides
    Innovative
    Banking, Focusing
    on Creating a
    Customer Driven
    Nontraditional Convenient
    Heavy Borrower 24/7 Service Hours
    Delivery Channels Service

    Tech-Support,
    Excellent
    Carry High Balance Phone-Support,
    Customer Service
    and Email- Agent

    Purpose of Balance Scorecard


    1 Traditional Financial Measures Mislead Strategy
    2 Balance Between Finance, Operations, Human Resources and Growth

    How Balance Scorecard Change the Culture in Wells Fargo


    1 Measurable and Manageable Strategy
    2 Focus on Maintaining Skilled Human Resource

    Balance Scorecard Helped to Communicate Strategy


    1 Aligning Goals and Pricing Limitation on Measures
    2 Measurement Utilized to Achieved Goals
    Wells Fargo
    Increase Revenue Per Customer
    Learning Growth Internal Customer Financial

    Enhanced OFS Focus Profitable 1. More Services

    Maximize Profit
    Modules Thru One Delivery

    Squeeze /
    Increase Functionality Shutdown Burden 2. Cost of Delivery
    Remain Fixed
    Modules

    Continue Reduce 3. Facilitate


    Development Transaction Errors Purchase

    Deploy Scorecard Increase Security 4. Promote Up sell


    Wells Fargo
    Increase Revenue Per Customer

    BSC
    Objectives Measures
    Perspective
    Number of services purchased by an
    average customer
    Financial Revenue per Customer
    Revenue per transaction

    Cost of transaction
    Customer More Services Via One Delivery
    Average number of transaction performed per session/call

    Percentage of erroneous transaction


    Internal Process Reduce Transaction Errors
    average Cost of fixing and error

    Number of human errors per month


    Wells Fargo
    Reduce Cost per Customer
    Learning Growth Internal Customer Financial

    Enhanced OFS Expand E-Options 1. Online


    Enrollment

    Reduce Cost
    Customer
    Increase Functionality Acquisition Via 2. Making Banking
    Convenient
    Mergers

    Continue Automated Call 3. Offer Better


    Development Centers Services

    Increase Agent's
    Deploy Scorecard
    Productivity
    Wells Fargo
    Reduce Cost per Customer

    BSC
    Objectives Measures
    Perspective

    Cost Per Transaction

    Cost per service call


    Financial Cost per Customer
    Call Length

    Numbers of service call

    Customer Convenient Services The percentage of transactions / services performed online among all transaction/services

    Transaction time

    The percentage of services that are automated among all services.


    Internal Process Automating the Call Center
    Number of customer representatives

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