2. Build strong infrastructure for capacity development. To build strong infrastructure, firstly the management of merged bank must ensure to align all of supportive function. Each function must move together to same direction. The marketing function knows well regarding who is targeted customer, what is customer's value and what is competitive essence that must be offered. The operation and IT function know how to translate these needs into capacity development and how to build operation service model that meet customer expectation. Human resources function knows how to provide talented resources, what kind of treatment (such as training or workshop) needed for excellent service. The key is leadership and clear communication. Second is developing needed capacity to meet consumer's expectation. In order to deliver excellent customer experience, the merged bank must translate its competitive essence into daily business organizing and service operation model. Simply, it's to answer these three questions:
1. What capabilities merged bank need to achieve competitive essence?
2. Where these capabilities come from?
3. How to build these capabilities?
3. Building strong brand. Branding is critical in merged bank. It's how bank establish their position in the market. Branding shows to customer what merged bank's competitiveness offered to customer. Further it also plays an integral role to unify staff. Here are steps to build strong brand. First is translating and visualizing the competitive essence of merged bank into merged bank's logo, symbol, and jargon. The visualization must communicate "what is bank's competitive essence" and "who is targeted customer". Second is building internal branding of merged bank. Everyone in merged bank must deeply understand that it's new model. Third is build strong and extensive communication with customer. Every part of merged bank should show off the new of merged bank.
4. Optimization of cost management. To deliver excellent experience, the merged bank face constrain of high cost. That's why there must be optimization cost management. Simply cutting available budget for cost saving will ruin customer value that in the end give them more reasons to switch to competitor. And the opportunity cost is too huge since it'll be more difficult to attract the switching customer. The writer sees balancing short and long optimization cost management while stay focus on building sustainable future value and strengthening market position is the key for high performance. To optimize cost management, the writer suggests developing customer centricity cost management. This management focuses on innovative cost treatment base on targeted customer value. The key is customer centric, effective simple treatment, and root problem solving.
Three activities to win customer are:
1. Developing excellent customer service operation model. This covers what kind product offered to customers and how to deliver it to customer. The key is simple product based on need, behavior, attitude of customers and flexible distribution channel approach, especially digital technology based.
2. Reaching customer with right channel at right time. The customer trend tell that customer want multiple channel. There's tendency they use more secure, simple, and self-service channel. The key is capturing technology optimization.
3. Keeping consistency of delivering excellent service operation. Trust and loyalty can't be achieved by single movement. The merged bank must keep its consistency to deliver excellent service for targeted customer. Keeping consistency means that every effort of merged bank corresponds to capture and win customer trust and loyalty. That's why it is needed for bank to do its best performance in detail way while stay alert to changing. The key is balancing short term excellence performance and long term strategy.
4. Total execution to win customer's trust and loyalty. In this stage, the writer suggests to translate the constructed strategies in focus area into detail strategy execution. There must be clear guideline that covers all of execution activities. Real time table for execution is critical to ensure that there's no execution postpone. Clear communication is needed to ensure that everything move to the same direction with harmony. Further, having every bank's employer, especially the ones who keep in touch with customers, understand regarding execution model is critical. And the end, we conduct measurement of result realization. The key is clear coordination and real time execution.