US Bank 2008 Annual Report Download - page 10

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8 U.S. BANCORP
Building
Building deeper relationships with our customers also builds customer
satisfaction and loyalty, resulting in opportunities to increase revenue.
Wholesale Relationship Reviews help us
better understand our customers’ day-to-day
fi nancial operations, their needs and
challenges and find opportunities to be
better fi nancial partners and expand
relationships.
U.S. Bank launched its fi rst national
media advertising campaign in
August 2008. The national television
and print media campaign focused
on communicating our Company’s
strength and soundness. The campaign
kicked off with a full page ad in the
Wall Street Journal and expanded
to Barrons, Fortune, The Economist
and other fi nancial and consumer
publications. Television programming
included national sports, targeted
national cable stations and fi nancial
news networks. We credit the
effectiveness of this campaign with
helping drive the “fl ight to quality”
as customers brought new business
to U.S. Bank.
The better we know our customers,
the better we can anticipate their needs,
make the best recommendations and
offer new products and services.
Every transaction is an opportunity
to better understand our customers’
needs. Through our Enterprise
Revenue Offi ce (ERO), we have
developed 15 initiatives to ensure
that we make it easy to bank
with U.S. Bank. These help us to
communicate more frequently with
our customers and ensure that the
communication fl ows both ways and
that we are listening and responding.
A primary focus of the ERO is to
create ways across the Company to
deepen customer relationships.
Getting to know customers better
Our new U.S. Bank Customer
Council is comprised of 27 senior
managers representing every major
business unit and support area.
These leaders are focused on
identifying new revenue growth
opportunities and identifying
ways to serve the customer and
grow revenue across business
lines through collaboration,
revenue sharing, enhanced
tracking and incentives.
We have created new bundled
packages of most-used accounts for
consumers and for small businesses.
Customers get better rates and
increased rewards when they choose
among several value-added packages
of key checking, savings and credit
products. The bundles were developed
with customer input, and nearly
half of new checking customers are
selecting a Consumer Package.
Our Wholesale Banking “Voice
of the Customer” initiative is an
ongoing program that solicits
customers’ payment services
feedback. Customer response allows
us to gain insights into market
direction of the payments business,
to develop market-driven new
product concepts and deepen
customer relationships. We survey
customers through a variety of
channels and have initiated
Customer Roundtable discussions
about our payments services with
corporate customers. In collaboration
with the Enterprise Revenue Offi ce,
we are evaluating expanding the
roundtable process to a number of
other customer segments in 2009.
Looks Brighter With US”
“The Future
National Ad Campaign