Case Background
 Largest bank in the region  Focused on corporate business accounts  3 years ago: Retail banking market  New CEO to develop stronger retail consumer orientation

 Extended financial product offering to retail customers

New Banking Technology  Improved Automated Teller Machines (ATMs)  24/7 Automated telephone banking  Central customer service number  Completely renovated user-friendly website  Credit cards with Radio Frequency Identification (RFID)  Improvement of bank staff .

Effect  Significant increase in new accounts  New financial products introduced  Platform staff/New accounts assistants  Product knowledge  Selling skills Tellers  Mix of activities .

Customer Service Program Teller Customer Service Representative (CSR)  2 hours  Recognizing & probing customer needs  Presenting product features & benefits  Overcoming objections  Referring customers to CARs  Basic selling skills .

CSR New Tasks  Prompt & efficient operation on a professional level  Best possible customer service  Sell bank services & maintain customer relations .

Customer Service Program New Accounts Assistant Customer Assistance Representative (CAR)  15 hours (3 separate sessions)  Sales process  Relationship-building  Exploring customer needs. product training  Overcoming objections Consultative selling . solutions  Basic selling.

efficient & friendly service: Existing & Prospective  Identify & respond to customers’ needs  Consultative selling .CAR New Tasks  Prompt.

Customer Service Director New Tasks Assistant Branch Manager Customer Service Director  Supervision of retail product delivery  Highest level of professional & efficient customer service available  Develop sales effectiveness pursuant to market share objectives  Adhere to operational standards  Communicate goals & results of bank .

professional image  Criteria revised . not renewed  Credit allocation per successful referral  Credits in exchange for merchandise gifts  3 months. ineffective  Performance Evaluation  Accuracy.Incentive Programs for CSRs  Cash bonus for successful referrals (product-specific)  $50 per referral of personal credit line account  1 month. speed. interaction. rapport. punctuality.

CSR Evaluation Criteria Direct impact on pay raises & promotion  Identify & respond to customers’ needs  Consultative selling  30% .

University.The Victory Square Branch  CBD. Offices  One of three test branches  Radical interior design  Six 24/7 ATMs  Customer service area  2 Levels of service for teller stations . Retail stores.

The Situation Head CSR position will soon be available  Evaluation of three candidates  Karen Mitchell  Jean Warshawski  Curtis Richter .

well-organized. accurate. consultative selling  Not accurate. tardiness issues Curtis Richter  Intelligent. CAR work familiar  Not exposed to new system. schooling . consultative selling. professional & well-liked  Refuses to sell Jean Warshawski  Cheerful.Head CSR Candidates Karen Mitchell  Fast. personable. smart. friendly.

Problem Statement How can the officers of Menton bank – Victory Square branch best utilize their available resources and choose who will be best to fill in the position of Head CSR? .

Objectives  Identify Menton Bank’s service improvements  Identify target markets  Recommend best candidate for Head CSR  Plan to maximize resources to obtain bank goals .

Areas of Consideration  Tasks & Responsibilities  Existing resources strengths/weaknesses  Standing issues  Qualifications of Head CSR position  Location & target market of branch  Change in target market .

Drivers  Competency of staff  Willingness  Staff Morale .

ATM. students University faculty SMBs/ Retail store owners Self-employed professionals CORP/RETAIL Corp Retail Retail Retail/ Corp (Payroll) Retail Retail SOURCE CBD CBD University University Retail stores Comm’l & prof. ATM. OTC OTC. Tel. Online. Online OTC. ATM TECHNOLOGY ACCEPTANCE Medium Medium Heavy Medium Light Medium . Tel. offices UTILIZATION OF SVC. OTC Online. ATM. Online Online. ATM. Tel.Target Market MARKET Corporations Corp Extensions Univ. OTC OTC.

SWOT . Advancement: ATMs. Internet. Telephone  Strategic location  CSR-initiated sales increased significantly  Increased CARs enthusiasm & commitment .Strengths  Wide range of products & services  Tech.

Weaknesses  Limited product knowledge & selling skills (CSRs)  Morale among CSRs had dropped  Increase in CSR errors .SWOT .

Opportunities  Increased confidence of market in banking tech.SWOT . advancements  Banking convenience as a criteria for choosing a bank: Change in consumers’ preferences  Paperless transactions: Environmental initiative (attract new markets .

Threats  Increased volume of competition (target market)  Technology glitches  Potential systemic threats (cyber attacks/hackers) .SWOT .

Goals Grid .

Goals Grid .

Mitchell as Head CSR STRENGTHS Excellent track record on operational performance WEAKNESSES Poor rating on consultative selling Fast and accurate Smart and professional appearance Refuses to sell .ACA 1: K.

Warshawski as Head CSR STRENGTHS Successful in consultative selling Excellent customer relations skills Excellent at prospecting Well-organized Motivated (for sons’ college fund) WEAKNESSES Tends to be overly chatty Somewhat untidy Room for improvement on accuracy Tardiness issues .ACA 2: J.

ACA 3: Curtis Richter as Head CSR STRENGTHS Prior experience as head CSR Seeking more responsibility Excellent evaluations Currently taking evening courses to finish degree Appears personable and intelligent Experienced in CAR work WEAKNESSES Not previously exposed to consultative selling Doesn’t know current CSRs at Federal Square Currently taking evening courses to finish degree .

Recommendation: Appoint Karen Mitchell as the new Head CSR.  Foundation: Efficient. fast & accurate  Jean: Room for improvement on CSR tasks  Curtis: Needs to be exposed to new processes first .

Action Plan  Jean Warshawski: CAR. motivated  Curtis Richter: Victory Square branch CSR  CSR evaluation criteria – recommend to remove consultative selling  Immerse new CSRs in additional training . courtesy calls.

 Branch. is the marketing tool  Keep in mind the basic component of the operations: Avoid multiple goals that may distract front-liners of the bank in performing their tasks. itself.  CSR evaluation criteria – recommend to remove consultative selling .

End of Presentation .

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