Taking ‘Steps’ to a Better Customer Experience at Wells Fargo

Wells Fargo CXThis week Wells Fargo & Company announced its ‘Steps to Better Banking’ initiative, which makes the customer experience of opening an account easier for the millions of consumers who choose a banking relationship with Wells Fargo.

Wells Fargo serves more than 22 million Retail Bank households, and through May of this year, household growth was the strongest in four years, and primary consumer checking customers increased 5.6 percent year-over-year.

Most recently, a new customized welcome email was introduced that is sent to a customer within one hour of opening a checking or savings account. The email thanks the customer for choosing Wells Fargo and its extensive network of approximately 6,200 retail bank locations, 24/7 phone bank, and 12,800 ATMs. It includes a summary of the deposit accounts opened with Wells Fargo, and details about how to avoid service fees.

What’s more, the welcome email provides several ways to contact the bank, including online, by phone and by visiting a branch. The email is signed by the banker and store manager, with a phone number that connects directly to the branch. The email also includes other helpful resources related to the customer’s new Wells Fargo relationship.

Loyalty360 caught up with Wells Fargo spokesperson Richele Messick to find out more about this unique customer experience initiative.

What factors prompted the creation of these ‘Steps’ and what are Wels Fargo’s goals for them from a customer engagement aspect?Wells Fargo CX advantage

The ‘Steps to Better Banking’ initiative is just one effort to produce outstanding experiences for our customers. Opening a checking or savings account is something millions of Americans do every year and is a foundational part of their relationship with their bank. We want to ensure this experience is as easy and straightforward as we can make it. When someone starts a relationship with Wells Fargo we want them to feel that they were given all the information they needed to understand how their accounts work. Additionally, that we helped them get their accounts set up properly and introduced them to a wide array of features and services they can use to manage their accounts. We want them to feel knowledgeable, supported and welcomed.

How important is customer experience to WF and how can these steps impact that?

At Wells Fargo, our goal is to create seamless and outstanding customer experiences, no matter how our customers engage with us. For our company, customer experience starts with our team members. They are the single biggest influence on our customers and our competitive advantage. For us, good service means a good conversation. We want to sit down with every customer to understand their financial priorities and needs so that we can do our best to provide them guidance and connect them with the financial tools and services to help them achieve their goals.

Providing an excellent experience for our customers is a key part of our vision and values, and critical to our success. We want our customers to feel valued, that we get things right for them the first time and that we follow through on what we promise.

How do you define customer loyalty and has that definition changed or evolved in recent years?

We are always working to develop an even more in-depth understanding of customer loyalty and what we can do, both in and outside of our retail banking locations, to create an experience that builds it. In addition, we have a focus on creating a seamless experience across our many channels to improve the experience and customer loyalty.  As we have in the past, we continue to measure our customer loyalty based upon the customer’s stated overall satisfaction with Wells Fargo, their stated likelihood to continue to do business with and recommend Wells Fargo to others.

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