/ Customer Experience

Consulta Keeps Mercantile Bank Ahead of the Game

  • Mercantile Bank (Business Bank) outperforms its 4 major competitors.
  • In most Business Units Mercantile Bank exceeds customer expectations.
  • Mercantile’s customers are highly likely to refer the bank to friends, colleagues and other contacts.

Results

REAL TRANSFORMATION
The program has resulted in significant improvements in customer service.

MEANINGFUL INSIGHTS
Real comments from real customers have resulted in actionable change.

REAL TIME BUSINESS SUPPORT
The program is flexible and iterative.

BETTER RESULTS FOR BETTER CUSTOMER SATISFACTION
Mercantile Business Bank outperforms its main competitors on Customer Satisfaction Scores.

As with any customer-centric organisation Mercantile Bank needs to continuously understand the relationship between its customers and front-line staff, in this case its Relationship Managers (e.g. are customers are satisfied with the service they are receiving, are there are underlying problems that the bank is unaware of).

Based on continuous surveying, Consulta provides Mercantile Bank with a dashboard view of the relationship between its customers and its Relationship Managers. This includes Questions/Statements relating to the specific value proposition of Mercantile Bank. It also tracks how effectively problems are resolved by the Relationship Managers.

Consulta sends out emails to customers to invite participation in the process which enables clients to complete surveys in their own time. Non-responders are followed up by the Relationship Managers. Results are shared with both client and the Relationship Managers. Action plans are also provided to improve service delivery.

Over time Consulta was able to develop shorter questionnaires to meet customer needs without compromising the credibility of results.

A major insight revealed that there are very different segments within the customer base (e.g. Low Touch that need contact every 6 months and High Touch that want contact every week).

Benefits:

RETAINED PERFORMANCE THROUGH TRANSITION

Mercantile Bank is able to immediately adapt to client relationship issues as they are identified.

TRUSTWORTHY ACTIONABLE INSIGHTS

The program gives Mercantile Bank a clear understanding of where problems lie and what they have to do to fix them.

FULL PROCESS PROJECT MANAGEMENT

Consulta provides a full, end-to-end solution.

PRIORITISED IMMEDIATE RESPONSE

Mercantile Business Bank is able to access the information it needs as soon as it as available.