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Putting the Customer in the Driver’s Seat

Putting the Customer in the Driver’s Seat. Millicent Calinog, Senior Vice President Customer Advisory Councils. Customer Advisory Board .org Annual Conference 2011, Boston, MA May 3, 2011. Agenda. Wells Fargo Advisory Council Overview Evolution From Focus Group to Strategic Partner

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Putting the Customer in the Driver’s Seat

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  1. Putting the Customer in the Driver’s Seat Millicent Calinog, Senior Vice President Customer Advisory Councils Customer Advisory Board .org Annual Conference 2011, Boston, MA May 3, 2011

  2. Agenda • Wells Fargo Advisory Council Overview • Evolution From Focus Group to Strategic Partner • Lessons Learned • Benefits • Challenges • Other initiatives • Questions?

  3. Wells Fargo Advisory Council Program Overview • Objective • Ensure that Wells Fargo continues to be the leading cash management bank • Incorporate the voice-of-the-customer • Active discussion about cash management trends and needs • Focus: Wholesale Banking/B2B • Businesses who use Wells Fargo Cash Management Services • CFOs, Controllers, Treasurers

  4. In the beginning….Started out as a Focus Group • Born in 2004 • Primarily a Feedback Tool for Banking Portal • We got good feedback. VERY candid feedback. • Participants loved the concept • “Do it more formally and more frequently” • Our customers talked to each other, and liked it!

  5. And then…..the Wells Fargo – Wachovia Merger • Doing more with less • Doubled customer base = doubled # of councils • Kept dedicated staff of 3 • Focus on Development and Delivery • Product, Service, Strategy and Communication

  6. Today: Advisory Board of Strategic Partners • 12 groups/24 meetings each year • Same objective • Cross-industry • By Market Segment & Region • Some industry specific • Pool of 500+ Active Alumni • Bi-annual conference calls • Industry and bank-sponsored conferences

  7. Starts at the top….

  8. What we’ve learned… • Listen! • In-person • The magic number: 10-12 • Customers like to have input • Squeaky wheels • Time, trust and commitment • Location & Food • Pre-qualification

  9. What we’ve learned… • Size • Candor • Accountability • Thick Skin • Executive Commitment • Continuous Improvement

  10. What do we ask for? The Good, the Bad and the Ugly!

  11. Benefits • Properly prioritized product roadmaps • Pool of pilot participants, user and focus groups. • Sales and Relationship Teams love the Councils • A differentiator • Deeper relationships – more sales opportunities • Customer References • Relationship extensions – CRITICAL!!! • Bank & Industry Conferences • Wells Fargo “offsites” • The Annual Report • Informal Customer References • Peer networking • LinkedIn

  12. Benefits • We get to know our customers and our customers get to know us. • If done right, the Council becomes the answer to the question • “What do our customers think/want?”

  13. Benefits

  14. Challenges • Budget • Client perception • Fixed resources v. staying connected with growing Member base • Growing Alumni Base • Bi-annual Calls • Newsletters • Community

  15. What else are we doing? • Social Media • Community • Blogs • Ask An Expert • Expanding into cross-channel customer views • Alignment with Ethnography & User Experience Teams • Assessing Customer “Labs”

  16. Questions? Millicent Calinog 415-517-6193 calinomi@wellsfargo.com

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