Anthony stepped down as Chair of Metro Bank in December 2012. He outlines how the effect the customer experience-driven policies of MetroBank have had on performance, and on the aim of turning customers into advocates / fans. Introduction: about Metro Bank, founding ideas and ideals, history, growth throughout the South East, forward strategy; Customer Experience strategies: rewarding employees for satisfaction levels, not sales targets; These strategies have lead to: customer satisfaction scores, rates of recommendations, organisational growth How the use of social media / different channels (“touch points”) supports the CE-based strategy of the bank.

1. Rethink your CX strategy and
become truly customer centric
Anthony Thomson
Founder and former chairman
Metro Bank

2. Customer-centric banks?

3. A customer-centric bank?
• Opened July 2010
• 18 locations
• >700 colleagues
• 170,000 accounts
• £1 billion balance sheet
• 93% of customers
‘satisfied or very
satisfied’
• 8/10 would recommend
to a friend

4. A customer-centric banker?
• Founder & CEO City
Financial Marketing
• Founder & Chairman
The Financial Services
Forum
• Founder and Chairman
Metro Bank plc
• Founder and
Chairman…

5. Being truly customer-centric
• It’s not about re-thinking, it’s about belief
• It’s not about lots of things, it’s about one
thing
• It’s about the three rules followed by
exceptional companies
• It’s about the role of profit

6. Copyright Erik Denali Vision
Belief one thing three rules profit

7. photographer, Per Morten Abrahamsen
Belief one thing three rules profit

8. Belief one thing three rules profit
• At Metro Bank we believe:
• Customers care about value, not price
– Service, convenience
– Transparency, consistency
– First class not second class
• They expect a great retail experience -
However they interact with you

10. Belief one thing three rules profit
Retail banking considers the customer relationship as its only
real asset. All other traditional assets or balance sheet
items are nothing but manifestations of this relationship.
Dr. Stephan W. Kaminski
10

11. Belief one thing three rules profit
Great businesses create fans
not customers

12. Belief one thing three rules profit
1. Build a differentiated model
2. Create a culture to reinforce the model
3. Execute relentlessly
And you will create fans not customer

13. Creating fans

14. Belief one thing three rules profit
• Exceptional companies, when
faced with tough choices,
follow three rules:
• 1. Better before cheaper. They
rarely compete on price.

15. Belief one thing three rules profit
• Exceptional companies, when
faced with tough choices,
follow three rules:
• 1. Better before cheaper. They
rarely compete on price.
• 2. Revenue before cost. They
drive profits through price and
volume, not thrift.
25,000 companies’ data
Over four decades

16. Belief one thing three rules profit
• Exceptional companies, when
faced with tough choices,
follow three rules:
• 1. Better before cheaper. They
rarely compete on price.
• 2. Revenue before cost. They
drive profits through price and
volume, not thrift.
• 3. There are no other rules.
Everything else is up for grabs.
25,000 companies’ data
Over four decades

17. Belief one thing three rules profit
• It’s not about re-thinking, it’s about belief
• It’s not about lots of things, it’s about one
thing
• It’s about the three rules followed by
exceptional companies
• It’s about the role of profit

18. at_anthonythomson
at@anthonythomson.co.uk