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; solutions Basic selling; product training Overcoming objections Consultative selling

CAR New Tasks

Prompt, efficient & friendly service: Existing & Prospective
Identify & respond to customers needs Consultative selling

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

Incentive Programs for CSRs

Cash bonus for successful referrals (product-specific)

$50 per referral of personal credit line account

1 month; not renewed Credit allocation per successful referral

Credits in exchange for merchandise gifts

3 months; ineffective Performance Evaluation Accuracy, speed, interaction, punctuality, rapport, professional image Criteria revised

CSR Evaluation Criteria

Direct impact on pay raises & promotion

Identify & respond to customers needs Consultative selling

30%

The Victory Square Branch

CBD, University, Retail stores, Offices
One of three test branches

Radical interior design

Six 24/7 ATMs

Customer service area

2 Levels of service for teller stations

The Situation
Head CSR position will soon be available Evaluation of three candidates

Karen Mitchell
Jean Warshawski

Curtis Richter

Head CSR Candidates

Karen Mitchell

Fast, accurate, smart, professional & well-liked Refuses to sell

Jean Warshawski Cheerful, friendly, well-organized, consultative selling Not accurate, tardiness issues Curtis Richter Intelligent, personable, CAR work familiar Not exposed to new system; consultative selling; schooling

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 Banks 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

Target Market
MARKET Corporations Corp Extensions Univ. 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 Comml & prof. offices UTILIZATION OF SVC. OTC OTC, Tel, ATM, Online Online, ATM, OTC Online, ATM, OTC OTC, Tel, ATM, Online OTC, Online, Tel, ATM TECHNOLOGY ACCEPTANCE Medium Medium Heavy Medium Light Medium

SWOT - Strengths
Wide range of products & services Tech. Advancement: ATMs, Internet, Telephone Strategic location CSR-initiated sales increased significantly

Increased CARs enthusiasm & commitment

SWOT - 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. advancements
Banking convenience as a criteria for choosing a bank: Change in consumers preferences Paperless transactions: Environmental initiative (attract new markets

SWOT - Threats
Increased volume of competition (target market)
Technology glitches

Potential systemic threats (cyber attacks/hackers)

Goals Grid

Goals Grid

ACA 1: K. 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 2: J. 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 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 Doesnt 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; courtesy calls; motivated
Curtis Richter: Victory Square branch CSR CSR evaluation criteria recommend to remove consultative selling Immerse new CSRs in additional training

 Branch, itself, 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.

CSR evaluation criteria recommend to remove consultative selling

End of Presentation