Gartner Report: Nationwide Building Society Succeeds with Multichannel customer relationship managementby
This report by Ed Thompson and Esteban Kolsky of Gartner describes Nationwide’s highly successful implementation of Portrait Software's* process-centric Customer Interaction Management Solution.
According to Gartner "Nationwide Building Society, the largest in Britain with 11 million customers, has demonstrated that multi-channel customer relationship management implementations can be successful in financial-services organizations, if they assess their current positions, align plans accordingly, involve everyone, truly put the customer first and ensure that there are no negative-performance side effects on day-to-day transactions. Personalized service and sales prompts have been financially beneficial to Nationwide and enthusiastically received by its customers."
Using Portrait, Nationwide was able to design and model the processes that drove customer interactions for its 11 million customers, deploy them efficiently and consistently across all channels (in the branch, on the phone and across the web) and manage or change these processes quickly and easily. Nationwide gained market share by cross-selling financial services to existing customers, while offering a truly personalized service to each of them.
The results were impressive:
- Extra sales to established customers from intelligent prompts were 150% ahead of target.
- The benefits delivered by the system are equivalent to 200% of total investment cost.
- Customer satisfaction has gone up with 31% rating service as "excellent".
- Nationwide will comfortably exceed its ROI target with
a less than 30 month payback.
* formerly AIT Group