Over 3 days this course will give you an opportunity to:
-
Fully understand the impact on your bank’s growth and revenue opportunities, product development and customer requirements following the global credit crunch issues
-
Learn from a retail personal finance expert with over 35 years hands on experience in the UK and the international markets
-
Develop, design and understand marketing and distribution strategies used by leading retail banks to meet the changing needs of your customers
-
Acquire new techniques to maximise your sales and improve performance across all distribution channels
-
Implement strategies to enhance cost efficiency and productivity by creating an environment where customers buy more of your products and services
Who should attend
Designed for delegates who wish to make a real impact on the banking experience of their customers worldwide. We suggest that the following finance professionals attend:
Methodology
Euromoney Training together with renowned expert in the field, John Berry, have developed this highly practical 3-day programme to teach the disciplines outlined.
-
The emphasis is on practical and interactive exercises and real-life case studies.
-
The course will also involve group work, presentations and discussions.
-
The third day of the programme will comprise external visits and an opportunity to see how banks compare with leading retailers.
-
The programme will draw upon case studies and learnings from a range of banks and non-banks including: HSBC, Bank of America, ING, DeutscheBank, HBOS, Marks & Spencer, Disney Corporation, Tesco and Wal-Mart
Course Overview
The retail finance sector is currently one of the most competitive in the banking industry. However, in order to succeed in such a dynamic market place, successful retail bankers require many and varied skills, such as the ability to demonstrate a deep understanding of consumer needs, an ability to develop new market entry and customer retention strategies, application of new business models and knowledge to translate them into revenue generating projects and programmes.
Only with a combination of successful product development, effective distribution and an efficient marketing programme will today’s retail banks secure competitive advantage in the market place.
Day 1
Programme introduction
- What will be covered over the course of the event
- What will be the priorities for retail banks and yours in particular
- What are the latest issues and trends impacting personal retail financial services at the moment and in the foreseeable period ahead
- An opportunity for all participants to share the challenges they face in their market places and set out their course expectations
- Guidance on how attendees may gain maximum value from the programme through thinking less as bankers and more as customers and retailers
- How to learn / gain insights that will lead to opportunities for achieving competitive advantage when attendees return to work
Retail banking today
- Impacts from the credit crunch
- What does it mean for customers, shareholders and staff
- What impact has there been on current and future strategies
- The balance between revenue growth, cost management and customer centricity and productivity
- Key issues to be discussed around the role and importance of trust; sales vs. advice and guidance; distribution strategies; product innovations; approach to fees and charges; creation of customer buying behaviours
Current priorities / alternatives
- Achieving a balance between the priorities of stakeholders, customers, shareholders and staff
- What are the key drivers of success
- What can you influence and how to make it work for your benefit
- Distribution – where to focus expenditure and which channels give the best value for the business and the customer.
- Matching customers to channels / multi channel management
- Delivering excellence in balancing people, environments and processes
Revenue growth
- Has the credit crunch changed priorities?
- Are the key areas of profit, acquisition and retention just as key today as in the past
- Establishing and understanding the key areas of opportunity
- Importance of brand development and brand fit
- Role of customer behaviour in managing growth
- Impact of external developments and how to manage in a rapidly changing world
- Areas to focus on in product development and margin management
- The power of the customer experience – the new arena of competitive advantage
- Staff motivation and focus to deliver results
- Management of conversion rates and activity
- Managing the process of change and innovation
Day 2
Marketing and communication
- Customer insights – how to be one step ahead of the competitionUnderstanding and overcoming barriers to purchase
- Role of marketing – balance between products, research, advertising and merchandising
- Managing the brand
- Segmentation – the importance and the benefits – who does what
- Communications – internal and external – alternatives for best practice
- Innovation – how to manage those challenging the status quo
Distribution
- Channel choices – what are the options? Who decides? Where is the value creation greatest
- Discussion on alternate channels – what works where, learning from the leaders
- Understanding the role of individual channels – their importance and value to customers and the business
- Branches – how to improve their contribution and create an experience that adds value
- The role of the branch in the community
- Working in partnership – does it work / can it create value
- Importance of design – can design and layout make a difference to performance
- The importance of process, people, brand and environment to the customer journey
- How can you understand and manage the customer journey
- Measuring performance from the perspective of customers, staff and shareholders
- Creating the appropriate culture to deliver results
Productivity
- Acquisition and retention of customers – how the leaders achieve much better revenue results over the first 3 years
- Strategies for success in delivering improved profit performance
- Managing target systems that don’t negatively impact overall performance
- How the leaders gain results that are over 20% better than the competition through their methodologies
- Characteristics of the leading retail banks that make them more productive
- Sales productivity – how can it be improved – what are the triggers
- Measurement and reward systems – the role they play in delivering excellence
People
- The importance of the “front line”
- Key learnings from the best on how to recruit, train and manage employees for improved performance
- What are the most appropriate structures
- What does it mean to be customer focussed?
- Create an experience to give you the edge – how you achieve it and what needs to happen
- Creating a more empowered business model for business success
- Alternative reward structures
- What to measure and what to reward
- Power of the voice of the customer and the staff – how to capture and use for maximum advantage bank upon their return.
- Preparation for the presentations and discussions on day four with the course director John Berry
Day 3
Customer service
- Should you invest in service or just focus on the numbers
- Is there evidence of value creation
- What does service mean – balance between sales and service
- Measurement criteria. How frequently to measure results
- Link between rewards and recognition and service results
- Fit with the customer journey
- Creating the experience
- Developing a quality service cycle
- Power of a service theme / developing service standards
- Deliver change-in service delivery
- Power of advocacy – a new way of measurement / just what is possible
Future business focus
- Creating a framework for change
- What major elements need to make up the framework
- Interrelationship between sales, operations and marketing
- Creating the focus for profit, acquisition and retention
- Impact on business objectives and structures
Summary and actions
- Key priorities identified
- Actions for change in the short to medium term
- Plans for delivering profit and performance improvements
Course summary and close
-
The course director is one of the leading specialists in the world of retail financial services. He has extensive experience at all levels of retail banking as well as expertise in international markets, having both managed international businesses and projects in Australia and Europe.
He is a well known speaker at international conferences in Europe, the Far East and the USA and has published work showing how retail banks can improve frontline performance. At Abbey National he worked as Marketing Director, Sales Director, Transformation Director, and Managing Director.
He received international recognition for introducing innovative ideas such as Costa Coffee and franchising. He is a pragmatic and challenging course director who will make delegates think about their business’ current performance and provide them with important tools, techniques and practical ideas to implement for improved sales results.
Courses run by this instructor
Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.