EXPERIENCE ‘18

Demonstrating CX Impact

Srikant Narasimhan, Medallia Director, CX

Strategy & Insights

Matt Hug, Citi SVP of Global

Customer Experience

Lakshmi Vanam, Citi SVP of Voice of Customer and

Journey Impact

Add Your Company © Copyright 2018.

Financial Impact TrackWhat you will hear

∞ How are other companies measuring the impact of customer experience?

∞ What types of behaviors should you expect from customers who have great experiences?

∞ How can you start to measure the impact of customer experience in your business?

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Add Your Company © Copyright 2018.

Why Measure the Impact of CX?Importance of measuring impact

∞ Demonstrate the value of a CX program to key stakeholders

∞ Quantify the impact of a customer’s experience on their future spending habits

∞ Enable financial evaluation of customer experience improvements

∞ Identify strategic customer segments for revenue retention and growth

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The Ultimatum Game

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Driving Financial Results Through Customer CentricityCiti

MAY 22, 2018

Citi Overview

• 100 million customers• Manages $418B in average assets• 2,450 branches, 12,500+ ATMs globally

• Credit Cards, Banking, Lending, Investing

Wealth managers speak to customers inside a Citibanamex branch in Mexico

Modernized branch in Poland

Online banking in Taiwan

• Global Consumer Bank—19 markets

Source: http://www.citigroup.com/citi/about/consumer_businesses.html 6

Array of Credit Card Products

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Citi’s Global VOC Program

• Collect feedback in 13 different languages

• Social data, survey responses,

agent call data, etc.

• KPIs (NPS, OSAT, Problem

Incidence)

• Globally consistent Closed Loop and

Complaint Monitoring

Source: http://www.citigroup.com/citi/about/consumer_businesses.html. Information is from 2016 8

Promoters Generate Value in the long term

Promoters Attrite Less …. …Engagement increases over time Recommend Product to Others

Detractors Promoters Detractors Promoters Detractors Promoters

Generate Significantly higher Value in the long term

Detractor Revenue Trend Promoter Revenue Trend

100% 98%92%

Year 0 Year 1 Year 2

100%

84%77%

Year 0 Year 1 Year 2

18% Higher RevenueOver 2 years

+33% +12% 3x

2 year revenue based on matching FICO, Tenure & Rates for Detractors and Promoters 9

Pulling The Levers That Matter

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Customer Centricity

With client engagement rapidly shifting to digital channels, mobile continues to be at the core of a simpler, better customer experience.

Lever 1: Create Great Digital Experiences

Lever 2: Detect and quickly resolve customer frustration points

http://www.citigroup.com/citi/about/consumer_businesses.html 11

Delight Detractors, Deliver To Promoters

Traditional Channel Analysis

• Number of calls needed

• Ability of agent to handle requestDrain on

NPS

• Ability of agent to handle request

• Agent clarity of communication

Promoter Negative

Sentiment

Extreme Detractor Promoter

Likelihood of Customer to move to Digital

1.4x

1.3x

Power of Text Analytics

Notes: Contact Center Data 2017; Citi Digital User Data from Jan to Nov. 2017 12

Lever 1: Create Great Digital Experiences

• Customers go paperless

• Customers grow relationship with CitiQuick Wins From Digital

Mobile Banking saves customers an average of 45 minutes per month1

1. https://www.multivu.com/players/English/8313051-citi-mobile-banking-study-2018/ 13

Digital Behaviors Change Our Customer

• Understand My Spend

• Disputes Process on Mobile

• Card Lock

• Mobile alerts

New Behaviors

Technology is enabling smarter, more efficient decisions about what products and services are best suited for them.1

Increase Spend with Citi Manage Financial Life Better

Learn more here:

https://www.multivu.com

/players/English/831305

1-citi-mobile-banking-

study-2018/

1. http://www.citigroup.com/citi/about/consumer_businesses.html 14

Digital Usage—a Win-Win Scenario

In a world that is increasingly digital by default, we are intently focused on servicing our cardmembers where they want and when they want . . . we’re excited to further elevate the digital experience and reimagine what mobile banking looks like.1

Alice Milligan, Chief Digital Client Experience Officer, US Consumer Bank, Citi

2017 2018

US Citi Mobile App Usage1

25% Increase

Financial Impact of Digital

Digital50%

Non-Digital50%

CardUsage

Balance of Accounts

44%22%

27%U.S. Acquisitions

Cost toAcquire

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Lever 2: Detect and quickly resolve customer frustration points

• Online Chat• Social media

• Online surveys• SMS

Customer Listening Channels

Customer Listening detects systemic issues earlier and customer pain points that previously went unnoticed

Break/Fix Faster

Avoided Contact Center Costs

Prevented Negative Digital Experiences

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Real-time Listening In Action

Customer Listening:Detects Issue in Real Time

Feedback comes in IT Ticket is Opened

Customer’s Frustration Removed!

Ticket is closed!

Customer Listening can minimize negative customer experiences by acting in real time.

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Financial Impact of Resolving Customer Frustrations

Fixing What’s Broken

75%Faster

Real-time monitoring

Prevented Negative

Experiences

Avoided Contact Center Costs

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How do you enable this for your company?

Identify Promoters & measure their value

Determine key pain points & moments of truth

Work to remove pain points

Surprise & Delight your customers

Prove ROI early

OrganicGrowth

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Thank You!#EXP18Medallia