Case Study: A Leading Financial Institution

Maritz Virtual Customer Research Provides a Multi-Scenario Mystery Shop Solution to Ensure a Premier Customer Experience

Situation
A major financial services and banking institution identified the need for a vendor to assist in understanding their customers’ experience at their 2000+ retail locations – and the successful application of sales, service and merchandising standards by their front-line employees.

Program Methodology
Turning to Maritz Research for help, the client identified key performance areas, with associated objectives, for monitoring and measurement throughout the calendar year:

• Sales Approach
  On a quarterly basis and, based on customer loyalty survey results, the client identifies and communicates to Maritz, 4 under-performing locations in each region to receive Sales mystery shops.
• Service Approach
  On a quarterly basis and, based on customer loyalty survey results, the client identifies and communicates to Maritz, 4 under-performing locations in each region to receive Service mystery shops.
• Merchandise Application
  On a quarterly basis all locations are targeted for Merchandising Mystery Shops to measure the gap between established merchandising standards and actual execution. And the Maritz solution ensures greater cost-effectiveness by including scheduled Merchandising Mystery Shops as part of the Sales and Service Mystery Shops at targeted locations.

For Sales and Service shops, Maritz Mystery Shoppers follow pre-defined scenarios that allow measurement of a location’s front-line employees in meeting client sales/service principles and behaviors, welcoming and engaging customers, and articulating products and services. The scenarios also measure location level standards such as wait time(s) transaction processing and accuracy and overall location condition and lighting.

In performing Merchandising shops, Maritz Mystery Shoppers measure location level application of promotions to include exterior and interior signage currency and condition, availability and placement of supporting PoP and evidence of non-approved signage (e.g., handwritten signage).

Managing the program, with its multiple scenario and reporting elements, 9800+ annual shops, and cyclical application requires constant coordination and communication. Throughout the process a dedicated Maritz Account and Project Management team stays in close contact with client stakeholders, monitoring design and execution to ensure location, schedule and budget challenges are quickly addressed.

The Results – A Powerful Coaching Tool
Mystery Shop results are provided to client stakeholders through an interactive web-reporting site. Within 72 hours of shop completion, front-line managers can access detailed, location-level results for immediate follow-up, action planning and targeted support. Regional and corporate leaders can access a variety of organization-level reports to identify significant anomalies and trends that require additional analysis and strategic oversight.

The results of this initiative are continuously felt throughout the client organization as sales and service practices are enforced and enhanced to ensure greater customer service – and merchandising execution is continuously revised to capture market share.

The client recognizes that program success relies on receiving accurate and timely Mystery Shop results and their leader’s commitment to providing quality and consistent coaching based on those results. Maritz will be there to ensure continued compliance with the client’s retail approaches and practices.

For more information, please visit Maritz at www.maritz.com or call (877) 4 MARITZ.