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C U M A Conference Where credit union managers connect 2002 Don’t gamble with C U M A Conference Where credit union managers connect 2002 Don’t gamble with your future

Welcome Developing a Customer Centric Business Welcome Developing a Customer Centric Business

Introduction • Dean Wasylyk - Principal Consultant for Way. Point Consulting • Way. Point Introduction • Dean Wasylyk - Principal Consultant for Way. Point Consulting • Way. Point Consulting provides management consulting services. • Currently engaged at Member Savings C. U.

Session Objectives • Provide a definition of a “Customer Centric” business. • Describe a Session Objectives • Provide a definition of a “Customer Centric” business. • Describe a methodology that has helped other organizations successfully transition to customer centric business models. • Presented with 4 case studies. • Question & Answer.

Audience Survey • Who is considering, but not yet started a CRM initiative? • Audience Survey • Who is considering, but not yet started a CRM initiative? • Who has a formal CRM initiative currently in progress? • Who has already implemented a CRM strategy and/or CRM tools?

Who gets a headache when they hear the term CRM? Who gets a headache when they hear the term CRM?

What is a “customer-member centric” business? • A business that has an intimate relationship What is a “customer-member centric” business? • A business that has an intimate relationship with its customers, such as a small town merchant might have with his/her customers. Or • A business that is able to at least simulate this type relationship through the use of information technology.

How do I know if my business is Customer/Member Centric ? • A customer How do I know if my business is Customer/Member Centric ? • A customer centric business can answer these types of questions for each one of its customers. – What might customer X need? – When should I try to sell it to him/her? – How should I communicate with this customer? • A product centric business might say to itself: – Let’s promote product X to our customers.

Financial Service Industry Trends • Market Research (CI Update and CGYE) Indicates: – Financial Financial Service Industry Trends • Market Research (CI Update and CGYE) Indicates: – Financial products and services are becoming commodity items. – Polarizing of financial institutions … “product producers” or “orchestrators of superior experiences”. – Credit Unions best positioned to continue being “orchestrators of superior member experiences”.

What is Compelling Businesses to Consider CRM Strategies? • Your Customer’s rising expectations. – What is Compelling Businesses to Consider CRM Strategies? • Your Customer’s rising expectations. – Customers are looking for additional “value add” from businesses: • Product Superiority • Low Cost • Familiar/Intimate Relationship

What is Compelling Businesses to Consider CRM Strategies? (continued) • Competitive pressures. – Competition What is Compelling Businesses to Consider CRM Strategies? (continued) • Competitive pressures. – Competition wants your profitable business. – Proactive selling products and services.

Post Technology “Bubble Burst” An opportunity to focus on customer needs & business objectives. Post Technology “Bubble Burst” An opportunity to focus on customer needs & business objectives. • Some lessons learned from the recent “dot-com melt down”. – Business fundamentals still matter. – Businesses with “bricks and mortar” aren’t doomed to mass extinction. – Ask your customers what they want. • Examples of technical capabilities getting ahead of demand: – Financial Institutions suspending wireless banking services. – Smart Card pilot put on hold

Methodology Introduction • Helped a number of corporations successfully implement CRM strategies. (AMEX, Fidelity, Methodology Introduction • Helped a number of corporations successfully implement CRM strategies. (AMEX, Fidelity, 3 M, GE, Microsoft, Pitney Bowes, Toro, Changepoint). – Plan “customer centric” business strategies, • New ways to market & sell products • New ways to service customers – Redesign functional activities, – Reengineer work processes, – Support with CRM technology.

Project Phases • Sequence of Project Phases – Plan Customer Centric Strategies • • Project Phases • Sequence of Project Phases – Plan Customer Centric Strategies • • Enterprise Goals Customer Perspectives Market Conditions Competition Customer Profiles Internal Assessment Prioritized Strategies – Re-define Functional Activities – Re-engineer Work Process • Workflow Analysis • Process Re-engineering – Support with CRM Technology – Repeat as necessary

Don’t gamble by leading with technology • Your customer needs & business must dictate Don’t gamble by leading with technology • Your customer needs & business must dictate the appropriate supporting technology. – Simple exposure to “Best Practices” offered by CRM software solutions can’t affect organizational change on their own.

Other factors contributing to failure of CRM projects • Lack of executive sponsorship • Other factors contributing to failure of CRM projects • Lack of executive sponsorship • Underestimating scope • Lack of project management expertise, and a “part time” attitude towards project

Case Study # 1 Enterprise Software Vendor Presented by Dean Wasylyk Case Study # 1 Enterprise Software Vendor Presented by Dean Wasylyk

Case Study #1 - Enterprise Software Company • Changepoint - Professional Services Automation software Case Study #1 - Enterprise Software Company • Changepoint - Professional Services Automation software (CRM module part of solution). • Role - “Director of Sales Development” • Inherited ownership of internally deployed CRM technology. – Not being used by sales force. – Not providing process/reports to support business objectives.

Enterprise Software Company • Business Strategies & Goals Confirmed. – Corporate revenue objectives. – Enterprise Software Company • Business Strategies & Goals Confirmed. – Corporate revenue objectives. – 500 qualified leads per quarter. • Built a Sales Development operation. – Contact Centre staffed by Sales Development Associates. – General Business Sales Representative. – Pre Sales Consultants.

Enterprise Software Company • Modified CRM tools to support process • “Patchwork” of technology. Enterprise Software Company • Modified CRM tools to support process • “Patchwork” of technology. (Re-configured Changepoint CRM, Delano, Spreadsheets, Nortel Symposium ACD, Crystal Reports). • Result - Business goal achievement, sales force using system, motivated staff, relevant management reports available.

Case Study # 2 Niagara Credit Union Presented by Sean Jackson CEO of Niagara Case Study # 2 Niagara Credit Union Presented by Sean Jackson CEO of Niagara CU

CRM “MRM” Helping NCU grow lives Sean Jackson, President and CEO Niagara Credit Union CRM “MRM” Helping NCU grow lives Sean Jackson, President and CEO Niagara Credit Union

NCU - Our Heritage • Founded in 1945 by a group of area farmers NCU - Our Heritage • Founded in 1945 by a group of area farmers in Virgil, Ontario • Grew to 15 branches across the Niagara peninsula, including 3 Commercial Banking Centres and a Contact Centre • Currently 86, 000+ members • Assets owned and managed - over $1. 2 Billion - largest CU in Ontario

NCU - Our Market • Operate in the beautiful Niagara Peninsula – bordered by NCU - Our Market • Operate in the beautiful Niagara Peninsula – bordered by Lake Erie, Lake Ontario, the Niagara River – Niagara stretches from Grimsby to NY State – 450, 000 residents – Tourism, agriculture, manufacturing • Compete head to head with the Big 5 – market includes many other CU’s – ING and PC Financial making inroads • We own about 20% market share - and climbing!

NCU - Our Fundamentals • NCU has a strong history of growth and market NCU - Our Fundamentals • NCU has a strong history of growth and market success • New foundations for future success – – Vision / Mission / Commitment statements Our Values Brand Strategy Retail, Commercial, and Electronic Delivery Strategies

NCU - Our Brand • Brand Strategy – new “lives grow here ” positioning NCU - Our Brand • Brand Strategy – new “lives grow here ” positioning launched in February 2001 – developed after 24 months of market, member, and staff research – clearly positions and differentiates NCU in the market – supported by an integrated approach - marketing, products, retail delivery, external relations, staff training all tied to brand positioning • Results – 96% awareness, 20% share, #1 in consideration in market

MRM - Our Fundamentals • NCU’s “Fundamental” approach to MRM – Know who you MRM - Our Fundamentals • NCU’s “Fundamental” approach to MRM – Know who you are - tailor MRM to suit our needs – Know what you’re passionate about: - we’re great at building relationships - MRM had to enhance what we already do well – Know your economic engine - understanding profitability while balancing it with members needs

MRM - Our Fundamentals • MRM is simply a component of our Retail Delivery MRM - Our Fundamentals • MRM is simply a component of our Retail Delivery Strategy – Introducing tools & procedures to enable staff to grow our members lives – Organization wide

MRM - Member Relationship Management • NCU’s approach has always been: – Modest - MRM - Member Relationship Management • NCU’s approach has always been: – Modest - resist high investment and long term payback – Integrated - took the time to understand the needs of all stakeholders – Build on best practices - use existing platforms where applicable (ACE), and build only where there are “real” business gaps (Profitability) – Staged - Introduce components in a phased approach

MRM - NCU’s Architecture MRM Segmentation Profitability Householding Contact Management Our Business Model MRM - NCU’s Architecture MRM Segmentation Profitability Householding Contact Management Our Business Model

MRM - NCU’s Architecture Contact Management MRM Segmentation Profitability Householding Contact Management Our Business MRM - NCU’s Architecture Contact Management MRM Segmentation Profitability Householding Contact Management Our Business Model • Seamless Communication between channels • “Sharing” of member information • Electronic “trail” of conversations • Simplify/automate referrals across the organization • Automates reporting

MRM - NCU’s Architecture Householding MRM Segmentation Profitability Householding Contact Management • Groups members MRM - NCU’s Architecture Householding MRM Segmentation Profitability Householding Contact Management • Groups members according to joint relationships • Allows for staff assignment Our Business Model • Simplifies communication • Enables quick and accurate view of member data that includes a “loyalty view” - the full relationship

MRM - NCU’s Architecture Profitability MRM Segmentation Profitability Householding Contact Management Our Business Model MRM - NCU’s Architecture Profitability MRM Segmentation Profitability Householding Contact Management Our Business Model • “Relative” • Member Level • Household Level • Product Level • Enables good pricing decisions

MRM - NCU’s Architecture Segmentation MRM Segmentation Profitability Householding Contact Management Our Business Model MRM - NCU’s Architecture Segmentation MRM Segmentation Profitability Householding Contact Management Our Business Model • Segments linked to brand • Based on members life-stage • Simplifies sales conversations • Allows for targeted marketing materials and products based on life-stage

MRM In closing …. • At NCU, we know who we are, we know MRM In closing …. • At NCU, we know who we are, we know what we’re great at, and we know where we’re going • We have solid Brand Delivery Strategies that houses MRM as a key component - not as the driver • Our investment in MRM is modest, and responsible • Our implementation is staged, to ensure benefit from each phase of development • We’re excited about “Growing Lives”, and MRM will help us do an even better job

Thank You! Thank You!

Case Study # 3 Member Savings Credit Union “Member Connect 2002” Presented by: Sharon Case Study # 3 Member Savings Credit Union “Member Connect 2002” Presented by: Sharon Kent General Manager

Background Ø Assets = $53 million Ø Members = 5, 800 - 75% LCBO Background Ø Assets = $53 million Ø Members = 5, 800 - 75% LCBO Employees 15% Honeywell Employees 2% AT&T Employees 2% Shell Employees 6% Other Ø Branches = 3 - Main Branch (LCBO Head 0 ffice) - Honeywell Plant & AT&T Office Ø Employees = 14 Full Time

Back to square one… Ø Fall 2001 – Redefined our Mission § Why would Back to square one… Ø Fall 2001 – Redefined our Mission § Why would someone choose Member Savings? § How would we achieve success? § How would we measure success?

Why choose Member Savings Credit Union? q. Superior products? q. Lowest cost provider? þSuperior Why choose Member Savings Credit Union? q. Superior products? q. Lowest cost provider? þSuperior service?

Superior Member Experience How? þUNDERSTAND and ANTICIPATE individual member needs. Superior Member Experience How? þUNDERSTAND and ANTICIPATE individual member needs.

How do we measure success? þHigh member satisfaction þProfitable growth þPrimary FI How do we measure success? þHigh member satisfaction þProfitable growth þPrimary FI

What next? ? ? Member Prospective • June 2002 - Launched “Member Connect 2002” What next? ? ? Member Prospective • June 2002 - Launched “Member Connect 2002” – Comprehensive survey sent to all members. – Survey objective …. Understand member’s perspective and identify significant differences among members. – $1, 000 cash prize = received 17% response rate

Ongoing activity… • Member Profiles – Survey results provided basis for profiling and segmenting Ongoing activity… • Member Profiles – Survey results provided basis for profiling and segmenting members – Survey provided insight into the significant difference among members. • Internal Assessment – Business insights being gained

Immediate Plans… Member Intelligence - Updating main data system from all new loan apps. Immediate Plans… Member Intelligence - Updating main data system from all new loan apps. (Income, Year and Make of Car, Mortgage Info, etc. ) Enhance Member Communication - Dedicated MSR to contact all new accounts as well as inactive accounts. Increase Profitability - Flag the accounts identified as unprofitable for specific marketing campaigns. Increase Training – Better communicate business goals and objectives with entire team. Get them involved… Reward success!!!

A work in progress… Ø Redefined Roles - Sales Development Associates - Updating Existing A work in progress… Ø Redefined Roles - Sales Development Associates - Updating Existing Compensation Plans Ø Information Flow & Work Process - Will detail the process to be supported by the CRM technology Ø Technology - Investigational at this time - Interim solution possible

Case Study # 4 St. Willibrord CU Provided by St. Willibrord CU Presented by Case Study # 4 St. Willibrord CU Provided by St. Willibrord CU Presented by Dean Wasylyk

Case Study # 4 - St. Willibrord CU • St. Willibrord has been an Case Study # 4 - St. Willibrord CU • St. Willibrord has been an early adopter of a customer centric model. Relationship banking model first adopted in 1988. • Enterprise Goal – St. Willibrord “Mission Statement” describes a CU who’s value add is the relationships that it builds with its owners. • Quote from St. Willibrord “As a part of core strategy, CRM results in an ‘above and beyond’ service culture and the development of more intimately relevant relationships with member-owners – the glue that keeps them satisfied and loyal for the long term. ”

St. Willibrord CU • Owner/Member Perspectives – Owner Surveys – Internal Market Research – St. Willibrord CU • Owner/Member Perspectives – Owner Surveys – Internal Market Research – Proactively asking for feedback • Owner/Member Profiles – Segmentation of owner/member base. Segments include Select, Premier and Commercial accounts. Also Urban, Rural differentiation.

St. Willibrord CU • Owner Centric Strategies Include: – Contact Centre implemented. – Proactive St. Willibrord CU • Owner Centric Strategies Include: – Contact Centre implemented. – Proactive sales capability developed. – Marketing to segments & sub-groups based on demographics, behavioral profiles, profitability, other criteria.

St. Willibrord’s Sales Capability • Roles and Incentive of Staff: – Tele Service Reps St. Willibrord’s Sales Capability • Roles and Incentive of Staff: – Tele Service Reps staffing contact centre • Leads provided and product sales. – Financial Service Reps managing “Select” owners • Product sales and customer satisfaction. – Relationship Managers managing “Premier” owners. – Account Manager managing “Commercial” accounts • sales, portfolio growth, portfolio profitability, customer satisfaction, loan performance, internal development, etc. – All sales staff involved in proactive “prospecting”.

St. Willibrord CU • Success linked to “Owner Centric” strategy – – Owner Satisfaction St. Willibrord CU • Success linked to “Owner Centric” strategy – – Owner Satisfaction 8. 84 /10 Owner profitability continually increasing. Increased asset size 1987 > 2002 …. 400% increase. Increased membership 10. 3% last year. • Technology – ACE product developed to support owner centric business model. • Quote: “ACE provides the infrastructure to enable St Ws business model run effectively and efficiently providing seamless service across all channels to all owners”.

Questions? Questions?

C U M A Conference Where credit union managers connect 2002 Don’t gamble with C U M A Conference Where credit union managers connect 2002 Don’t gamble with your future