Case Story: Customer Centricity
Stand in the customer’s shoes: What’s best for the customer is best for the business
In the context of financial stress and extreme uncertainty, the bank’s pathway to building businesses with enduring advantages in serving core customers was divided into three phases: separating core businesses from non-core, winning in the core and extending the core. Having completed the first phase, they were focused on mapping capabilities for future business growth, and developing a compelling strategic narrative as a rallying point for key stakeholders.
We fostered a shared sense of direction for the next phase by putting the customer at the center of business success. By focusing on how customers might prefer to access banking services, executives from across the business were able to understand the attributes required to win in the core. This framing also enabled them to effectively communicate the story of what needed to happen to deliver business outcomes in the next phase.
This intervention provided tangible tools for developing customer insight, customer foresight, and competitor intelligence. It further enabled leaders to work cross-functionally to solve customer problems and deliver better service to customers.