Boosting sales through an end-to-end multichannel approach 07 November 2012

Cette étude est disponible uniquement en anglais. Retail banks are losing large numbers of clients and squandering new business opportunities as a result of fragmentation and poor co-ordination in their distribution channels. Banks increasingly sell products and deliver services in new ways, taking advantage of technologies such as the internet and mobile telephony as well as more traditional outlets such as bank branches and call centres. But their failure to integrate this mosaic of distribution channels is proving expensive for shareholders and frustrating for customers. Customers want a simple relationship with their bank. They want access to the full range of products and services available, tailored to their individual financial needs. Instead, they too often experience cumbersome and complex processes as they move from one channel to another to complete a purchase, request a particular service or seek to negotiate a completely new product. In our experience, the core problem is often the absence of end-to-end integration throughout the purchase process. The products, services and channels across the group are not tied together into a seamless value proposition for the bank’s various customer segments. Such co-ordination has become critical given the disaggregation of the banking value chain, the proliferation of new channels and the expansion of product offerings. Some pioneering banks are achieving significant results having set out to build just such a seamless customer experience across channels. Their efforts have paid off in three different ways: an increase in the rate at which customer enquiries convert into sales (in one case, new accounts and mortgages rose 50–100 percent over 6-12 months); reduced costs (typically 15 percent lower in the short term and 30–40 percent lower in the mid term); and an improvement in the customer experience. Solutions differ, but we see some common features in these initiatives which are all part of what we call a customer-driven/end-to-end (E2E) approach. Such an approach differs from traditional end-to-end approaches by taking a radical customer- oriented view and digging to identify root causes for leakages. By doing so, it simplifies service delivery, clarifies roles and responsibilities across the value chain, and co-ordinates activity across channels. This article, based on our work with leading financial institutions, and the 2012 End-to-End Efma Survey, sets out our thinking on how to implement an E2E solution.
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