First Horizon Corporation · NYSE:FHN
First Horizon — Investor Day (November 2018)
21 slides from First Horizon's investor day presentation, Nov 6, 2018
Slide 1: Transforming the Customer Experience
Transforming the Customer Experience Proven | Focused | Better Dawn C. Morris | Chief Digital Banking & Marketing Officer
Slide 2: Non-GAAP and forward-looking statements
Portions of this presentation use non-GAAP financial information. Each of those portions is so noted, and a reconciliation of that non-GAAP information to comparable GAAP information is provided in a footnote or in the appendix at the end of this presentation. Annualized, pro forma, projected and es
Slide 3: Our Road Map to an Enhanced Customer Experience
Our Road Map to an Enhanced Customer Experience Our commitment to excellence yields customer and 1 employee loyalty 2 We have expansive customer profitability insights We will connect existing profitability insights to a 3 greater understanding of customer needs 4 We use profitability insights to un
Slide 4: Transforming the customer experience starts with building on our strengths
Transforming the customer experience starts with building on our strengths Proven 3
Slide 5: Our culture is locally and nationally recognized for a commitment to excellence
BEST PLACES TO WORK Our culture is locally BEST PLACES TO BANK and nationally recognized for a commitment to excellence AWARD WINNING BEST BANK VALENCE1 B2B 0 200 CONSUMER 0 150 Proven 1May 2018, Annual Brand Tracker, Brand Valence (emotional connection). 4
Slide 6: Loyalty runs deep with our employees and customers
FRONT LINE EMPLOYEES: 10 YEARS BUSINESS CUSTOMERS: Loyalty runs deep with our employees and customers 11 YEARS CONSUMER CUSTOMERS: 12 YEARS Proven Average employee tenure for front-line, FTB personnel serving target segments. 5
Slide 7: Transformation Is in Our DNA
Transformation Is in Our DNA Bonefish transformed our business from the inside-out Today, Bonefish permeates every part of our organization Proven 6
Slide 8: Connecting profitability knowledge with customer-centric insights
Connecting profitability knowledge with customer-centric insights Focused 7
Slide 9: Our Mission: An Outside-in Application of Our Proven Bonefish Process
INSIDE OUT Our Mission: An Outside-in Application of Our Proven Bonefish Process OUTSIDE IN By applying customer centricity to our strategy, we can drive deeper levels of profitability Focused 8
Slide 10: Customers aren't one size fits all
A 5% improvement in customer profitability is worth ~$75mm in annualized revenue HIGH PROFITABILITY, LOW TENURE (HP/LT) HIGH PROFITABILITY, HIGH TENURE (HP/HT) Customers aren’t PROFITABILITY one size fits all LOW PROFITABILITY, LOW TENURE (LP/LT) LOW PROFITABILITY, HIGH TENURE (LP/HT) TENURE Focused
Slide 11: High profitability, low tenure customers
HIGH PROFITABILITY, LOW TENURE (HP/LT) HIGH PROFITABILITY, HIGH TENURE (HP/HT) High profitability, low CUSTOMER INSIGHT: Reducing customer tenure customers offer attrition rate PROFITABILITY and improving net promoter-score one of our biggest LOW PROFITABILITY, LOW TENURE (LP/LT) (NPS) offers a key
Slide 12: High profitability and tenure customers
HIGH PROFITABILITY, LOW TENURE (HP/LT) HIGH PROFITABILITY, HIGH TENURE (HP/HT) CUSTOMER INSIGHT: High profitability and Prioritize increasing both advocacy and PROFITABILITY tenure customers offer net-promoter-score (NPS) LOW PROFITABILITY, LOW TENURE (LP/LT) LOW PROFITABILITY, HIGH TENURE (LP/HT) o
Slide 13: Low profitability and tenure customers
HIGH PROFITABILITY, LOW TENURE (HP/LT) HIGH PROFITABILITY, HIGH TENURE (HP/HT) Low profitability and PROFITABILITY tenure customers offer an opportunity to optimize LOW PROFITABILITY, LOW TENURE (LP/LT) LOW PROFITABILITY, CUSTOMER INSIGHT: HIGH TENURE (LP/HT) and streamline Reducing cost to acquire
Slide 14: Low profitability, high tenure customers
HIGH PROFITABILITY, LOW TENURE (HP/LT) HIGH PROFITABILITY, HIGH TENURE (HP/HT) Low profitability, high tenure customers PROFITABILITY offer an opportunity to LOW PROFITABILITY, LOW TENURE (LP/LT) LOW PROFITABILITY, HIGH TENURE (LP/HT) refine and reallocate CUSTOMER INSIGHT: Reduce cost to serve and
Slide 15: Optimization through deep customer insights
BETTER UNDERSTANDING MOMENTS OF ASPIRATION IDENTIFY OR ANXIETY CUSTOMER Optimization through DISCONNECTS deep customer insights UNCOVER RECOGNIZE INNOVATION OPPORTUNITIES FRICTION POINTS Better 14
Slide 16: Focusing First on Our Highest Priority Customers
Focusing First on Our Highest Priority Customers Better 15
Slide 17: Focusing Next on the Highest Priority Moments
Optimize under / over invested moments Focusing Next on the Highest Priority Moments to increase customer lifetime value (CLTV) Reduce high cost / low value moments Identify & improve key moments Better 16
Slide 18: Transforming the customer experience will drive improved profitability
Transforming the customer experience will drive improved profitability Better 17
Slide 19: A Business Case for Customer Experience
DRIVE PROFITABLE GROWTH TARGETED NTB: CROSS- WOM: NEW TO SELL INVESTMENTS WORD OF BANK OPPORTUNITY MOUTH CUSTOMERS OPTIMIZE EXPENSE A Business Case for RETENTION CTS: CTA: Customer Experience OF TARGET CUSTOMERS COST TO COST TO SERVE ACQUIRE Transforming the customer experience creates INCREASE oppo
Slide 20: Our Road Map to an Enhanced Customer Experience
Our Road Map to an Enhanced Customer Experience Our commitment to excellence yields customer and 1 employee loyalty 2 We have expansive customer profitability insights We will connect existing profitability insights to a 3 greater understanding of customer needs 4 We use profitability insights to un
Slide 21: Transforming the Customer Experience
Transforming the Customer Experience Proven | Focused | Better Dawn C. Morris | Chief Digital Banking & Marketing Officer