Customer Satisfaction Surveys

Customer Satisfaction Surveys Listen to the voice of our customers

Toolkit - Customer Experience - June 2014 The insurer for a changing world

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ment, advocacy, growth, lty, satisfaction, recomd loop feedback, success, ustomers voice, surveys, customer centric, custocacy, growth, retention, action, recommendation, dback, success, culture Introduction: Message from Laurence Hontarrède rs voice, surveys, engaomer centric, customer, Listening to Customers, the only way cacy, growth, retention, to ensure Customers’ satisfaction action, recommendation, dback, success, culture 3 key indicators to measure satisfaction rs voice, surveys, engaand recommendation omer centric, customer, Common rules to implement satisfaction surveys cacy, growth, retention, action, recommendation, A common scale for the 3 indicators dback, success, culture A need to capture feedback at the end of each transaction s voice, surveys, engage3 recommended moments of truth centric, customer, loyalA generic questionnaire rowth, retention, closed n, recommendation,From NPS,the analysis of the results success, culture change, to the implementation of action plans e, surveys, engagement, Diagnosis and continuous improvement ntric, customer, loyalty, to be shared with all employees. h, retention, closed loop Communication of the results of surveys mmendation, NPS, custos, culture change, custos, engagement, advocacy, mer, loyalty, satisfaction, n, closed loop feedback, on, NPS, customers voice, e change, customer cenment, advocacy, growth, lty, satisfaction, recom-

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The Customers being the new masters of the game in this fast changing digital world, BNP Paribas Cardif must demonstrate that it is more than just a product-provider but brings added value and best-in-class experience to its customers.It is critical for Cardif to ensure that Customers’ voice and experience are at the core of its strategic positioning, in order to be the favorite insurance company of its 90 millions insured clients and potential ambassadors. We must meet the expectations and full satisfaction of our clients, partners, and employees to gain their recommendation and loyalty.

Laurence Hontarrède

Head of Strategy, Client & Marketing

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Listening to Customers, the only way to ensure Customers’ satisfaction How to manage Customer Experience?

Keeping customers satisfied is vital and the only way you can know for sure how satisfied they are is by carrying out a customer satisfaction survey.

Satisfaction Surveys do not just end up to scores, they are a means of engaging the all company in truly listening to customers and acting on their feedback ; It is critical that everyone at all levels of the organization is bought in and accountable to respond to the needs of customers.

Statistics are bandied around that suggest that the cost of keeping a customer is only one tenth of winning a new one. Therefore, when we win a customer, we should hang on to them.

Real-time Feedback is an indispensable tool for managing the customer experience.

Where do we stand today at Cardif?

Satisfaction surveys are now performed in most countries, however current practices are too heterogeneous to have a transversal view on the results and to benchmark ourselves to market and industry indicators.

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What are the objectives of the toolkit?

This Toolkit gives some guidelines on how to maximize customer value and loyalty, define a methodological approach and optimize processes by implementing and industrializing a continual process of real-time customer feedback management.

Objectives are: • Consistent methodology across countries • Industry benchmark • Harmonize indicators, scale and calculation • Real-time transactional feedback • Analysis of root causes • Implementation of action plans • Communication and Change Management

Satisfied Customers improve: • loyalty • revenues (cross & upsell) • acquisition of new clients • brand image

Unhappy Customers bad-mouth the brand • decreasing revenues • less new customers acquisition • operational inefficiency and costs 7

3 key indicators to measure satisfaction and recommendation Net Promoter Score (NPS), General Satisfaction Score (GSS),and Customer Effort Score (CES) are market recognized indicators that will allow us to have a consistent methodology to measure satisfaction and recommendation in all countries and benchmark ourselves to competitors and other industry. These 3 indicators are complementary and correlated. The combination of them will help us to better understand how to meet the right balance between customers’ expectations and the experience we have delivered, and how to improve our products and services to achieve this goal.

3 complementary indicators GSS

Global Satisfaction Score

NPS

NET PROMOTER SCORE

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Customer Experience

SATISFACTION How would you rate your overall satisfaction? + “Why?”

CES

CUSTOMER EFFORT SCORE

LOYALTY

EASY TO BE OUR CUSTOMER?

How likely are you to recommend Cardif to your friends and family? +“Why?”

How much effort did you personally have to put to get an answer from us? + “Why?”

TheNETPROMOTERSCORE(NPS)

NPS is a customer loyalty metric, which

evaluates the likelihood that the customer will buy again, talk up the company, its products/services and resist market pressure to defect to a competitor.

The calculation of the NPS is standardized: Customers respond on a 0-to-10 point rating scale and are categorized as follows:

Passives (score 7-8) are satisfied but unenthusiastic customers who are vulnerable to competitive offerings.

D etractors (score 0-6) are unhappy customers who can damage your brand and impede growth through negative word-of-mouth.

Promoters (score 9-10) are loyal enthusiasts who will keep buying and refer others, fueling growth.

To calculate your company’s NPS, take the percentage of customers who are Promoters and subtract the percentage who are Detractors If the brand Cardif is not known, the question could be “How likely would you recommend the insurance product/ services sold by partner X to your friends?”

The CUSTOMER EFFORT SCORE

must take to transact business, the number of times

effort that a customer must expend to interact with a company. This methodology quantifies just how easy or hard it is to do business with a company.

to do to get an answer, influence the experience and the likelihood that customers will want to continue to do business with us again.

CES (CES) measures the amount of they must contact us and multiple actions they have

To improve the customer experience, all touch point experiences should be as smooth and satisfying as possible for most customers—make it easy to do business with us. It requires an understanding of the steps customers

A measurement of customer effort correlates very highly with customer satisfaction. NPS and GSS measure the overall satisfaction and loyalty but do not provide any indication of the issues or fixes required to improve the product or service. The analysis of the 3 indicators will identify the areas of improvement.

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SCALE

Common rules to implement satisfaction surveys A COMMON SCALE FOR THE 3 INDICATORS = FROM 0 TO 10 0

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People are used to the concept of rating things with numerical scores. Once the respondent has been given the anchors of the scale, they can readily give a number to express their level of satisfaction.

The 3 indicators must be measured on the same scale to ensure consistency and correlation analysis. Typically, scales from 0 to 10 are used where the lowest figure indicates extreme dissatisfaction and the highest shows extreme satisfaction. The range of choices is large enough to have a good variance of grades.

When analyzing the grades and regrouping customers by groups of satisfied, unsatisfied, passive, we must pay attention to cultural differences. In some countries the culture more freely allows for giving a 9 or a 10, where in some others this would be perceived as truly exceptional circumstances and providing a rating of 8 may be considered “the best you’re going to get”.

The “Do not know” option should not be proposed. If the customer had an experience with our products/services, he/ she needs to position him/her-self.

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REAL TIME FEDBACK

REAL TIME CHANNEL CAPTURE FEEDBACK We need to capture feedback at the very end of the transactions. Once the claim is paid or rejected, once we have closed a complaint or answered a phone call, we need to survey our clients from 24 hours up to 1 month.

The feedback should be obtained using the multiple channels available to contact the clients: IVR Surveys

Automated phone survey that lets users key in their responses and/or voice-record their feedback.

Mobile/Text Message Feedback Email Surveys

Phone Call Postal Mail Surveys Web Surveys

MOMENTS OF TRUTH

Point of SalesSurveys

RECOMMENDED MOMENTS OF TRUTH (MoT) Recommended MoT f

After paying a claim

answering Other MoT f After a complaint

After refusing a claim

After answering a phone call

After a sale managed

by Cardif

After answering an email

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How likely would you recommend our products and services to a friend/family/Colleague?

How easy was it to reach us?

How satisfied were you with the way your claim was handled?

How likely would you recommend our products and services to a friend/family/Colleague?

How easy was it to get an answer and clear exsplanation from us?

How satisfied were you with the way your claim was handled?

How likely would you recommend our products and services to a friend/family/Colleague?

How easy was it to get an answer from us?

Satisfaction Score

NPS

Customer Effort Score

How satisfied were you with the way your phone call was handled?

After refusing a claim

After paying a claim

Moment of Truth

After answering a phone call

• T he 3 mandatory & complementary measures: NPS, GSS, CES and always add the question why? To let the customers explain his score and gather some verbatim to analyze.

• T he suggested questions: Repurchase Score, satisfaction on specific operational process, …

• T he local operational questions

GENERIC QUESTIONNAIRE

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Local Specific questions

Suggested Commom Questions

XXX

How satisfied were you with the ability to explain the decision to accept your claim?

XXX

Thinking about the person/people whom you spoke to when contacting BNP Paribas Cardif, how would you rate each of the following? a. Attitude and personal manner b. Helpfulness c. Ability to handle your enquiry How satisfied were you with the ability to explain the decision to decline your claim?

Did you understand why/the reasons?

XXX

Please rate the last advisor’s ability to provide information that is clear and easy to understand?

How satisfied were you with the elapsed time between the claim statement and the response for the acceptation or not of your claim?

How satisfied were you with the elapsed time between the claim statement and the response for the acceptation or not of your claim?

How likely are you to purchase a product operated

by Cardif again?

How likely are you to purchase a product operated

by Cardif again?

How likely are you to purchase a product operated

by Cardif again?

ACTION PLANS

from the analysis of the results to the implementation of action plans DIAGNOSIS AND CONTINUOUS IMPROVEMENT The objectives are not only to measure and monitor the scores but more to analysis the root causes and implement action plans for continuous improvement .

We must create closed-loop learning and improvement processes and build them into our daily operations. The results and feedback must be communicated to frontline employees, as this information must be systematically complied and communicated throughout the organization so people individually can take actions and track their results and improvement.

Closed loop feedback

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Structural Improvement

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Call Back clien ts

Priortize Actions

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ENGAGEMENT

PROMOTE CUSTOMER’S SATISFACTION

Communicate externally on local commercial websites

Communicate internally on local intranet websites

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Your most unhappy customers are your greatest source of learning

Advisory, creation and production: Fabrice Malbert - www.fabricemalbert.com

Bill Gates