Job Purpose
The role holder will be responsible for developing and implementing strategies to retain existing customers and enhance their overall experience with the bank's products or services, building strong relationships with customers, increasing customer loyalty, and ensuring their continued engagement with the brand. This position reports to the Head of Customer Experience & Communication.
Key Accountabilities
Strategic Communication Planning: Develop and implement comprehensive communication strategies aligned with the organization's CX objectives. Define and oversee the communication framework, ensuring consistency across all channels.
Customer Engagement Programs: Create and manage customer engagement programs to keep customers interested and involved with the brand.
Retention Strategies: Develop and execute customer retention strategies to reduce churn and increase customer loyalty. Analyze customer data, identify potential issues, and implement initiatives to address them.
Customer Segmentation: Align customer communication with customer segments based on behavior, preferences, and demographics, and tailor retention and engagement strategies to specific groups.
Cross-Selling and Upselling: Collaborate with sales and marketing teams to identify opportunities for cross-selling and upselling to existing customers to increase customer lifetime value and strengthen relationships.
Competitor Analysis: Monitor competitors' customer retention and engagement efforts to identify areas of improvement and stay ahead in the market.
Monitoring Key Performance Indicators (KPIs): Track and analyze relevant KPIs related to customer retention and engagement, such as customer churn rate, dormancy, products per customer, customer lifetime value (CLV), and Net Promoter Score (NPS).
Collaboration with Other Departments: Work closely with business, product development, and customer support teams to align strategies and ensure a seamless customer experience.
Continuous Improvement: Continuously monitor and evaluate the effectiveness of customer retention and engagement strategies. Implement improvements and adjustments based on performance analysis.
Qualifications
Education and Work Experience:
Bachelor's degree in a business-related field.
Minimum of 10 years' experience in a financial institution.
Knowledge, Skills & Competencies:
A track record of developing & implementing communication, engagement & retention strategies.
Knowledge of customer engagement & retention techniques and principles.
Demonstrated ability to design and deploy customer engagement & retention initiatives and tracking impact.
Conceptual and Analytical Skills: Ability to quickly grasp and understand customer needs and keen to detail.
Technology Skills: Knowledge of data analysis and tracking tools.
Creative and resourceful.
Detail-oriented.
Strong reporting skills.
Coaching skills.
Customer Focus
Customer satisfaction
Customer loyalty
Channel satisfaction
Employee satisfaction
Business Systems & Infrastructure
Customer Engagement & Retention Tracking
Process review with customer impact in mind
Process management