Title: Peter Weill on Digitally Driven Customer-Centricity
Description: Peter, you and your team have been studying digitization for some time now, and you are a thought partner of companies worldwide that are seeking to utilize digitization to achieve greater customer-centricity. In your experience, what key changes must a company make to succeed on this front, and how drastic do the changes need to be for a company to achieve sustainable advantage?
To dramatically increase the quality of the customer experience using digitization usually does require fairly radical organizational surgery. USAA, for example, added a customer experience group, organized by life events, that sits between product ownersthose responsible for the companys product lines (including credit cards, car loans, and mortgages)and the customer. (See Customer-Centricity in Financial Services Goes Digital, BCG article, August 2013.) In financial services companies that use this type of arrangement, the customer experience group is responsible for ensuring a great multiproduct customer experience, measured with such metrics as the companys Net Promoter Score and cross-selling effectiveness. The product owners are typically measured by the P&Ls for their respective products and by their degree of innovation.