The Head of In-life Growth and Retention will be responsible for leading and executing Nest’s existing customer value strategy across both the Member and mass B2B customer bases. Reporting to the Member Proposition Director, this role is key to creating the strategies that encourage Nest’s customers to stay and do more with it, ensuring long-term value creation for Nest and its diverse member base and B2B clients. The role involves managing a team of In-life Growth and Retention Managers. his senior leadership position is pivotal in delivering Nest’s objectives around customer loyalty and growth and works closely with various stakeholders to ensure that customer experience and value remain at the heart of all activities.
Accountability
- Leads a team of In-life Growth and Retention Managers
- Works collaboratively across matrix peers, including within the B2B segment
- Owns the end to end customer in-life growth and retention process, from discovery and ideation, to prioritisation and delivery, run and monitor, delivered via matrix working
- Accountable for Nest in-life growth and retention KPIs
- Represents Nest Member Propositions at appropriate industry forums, internal and external governance forums etc.
Deliverables
Strategy Development & Execution:
- Providers the leadership and strategy for best practice existing customer value management across Nest
- Leads the development and execution of customer value management strategies and tactics across both Member and B2B segments to drive retention and in-life growth, aligning to Nest’s Purpose and Values
- Identifies Nest-specific benchmarks vs. the pensions market and other relevant service industries and agrees the goals and plans to meet / exceed them
- Works with data and analytics to deliver a segmented base management strategy
- Executes with a consistent approach of testing and learning, across multiple channels and levers
Leadership & Team Management:
- Leads Nest on best practice for customer value management, across all the necessary disciplines (data and analytics, segmentation strategies, customer value journey optimisation)
- Leads and mentors a team of In-life Growth and Retention Managers, fostering a high-performance culture that creates satisfying careers as well as achieving business objectives.
- Ensures the team is aligned with the wider business strategy, and has the tools, resources, and support necessary to succeed
- Fosters a test and learn approach and matrix agile ways of working
- Ensures the team has great instincts for balancing commerciality vs. great customer outcomes
Customer Insights & Analytics:
- Drive the use of customer insights and data analytics to understand customer behaviour and preferences, identifying key drivers of in-life engagement, growth and churn.
- Uses insights to inform strategic decisions around customer value management initiatives, ensuring they are grounded in evidence
- Ensures that KPIs for customer retention, growth and lifetime value are monitored, reported, and optimised
Cross-functional Collaboration:
- Collaboratively builds a backlog of ideas and objectively score and prioritise them for delivery
- Collaborates with key stakeholders across all internal functions and TCS (and other relevant partners) to develop initiatives across the ‘ps of marketing’ that deliver improved customer life-time value and retention
Financial & Commercial Accountability:
- Lead on annual planning process for in-life growth and retention, ensuring that a 3-year (or longer) strategic plan is supported by clear, budgeted annual activities and associated benefits
- Own the customer value management budget, ensuring effective allocation of resources and demonstrating clear ROI on all retention and growth activities.
- Lead the development of business cases for customer value initiatives, ensuring they are commercially sound and aligned with Nest’s strategic objectives.
- Regularly report on the performance of customer value initiatives, ensuring senior leadership is informed of progress, challenges, and successes.
- Represent growth and retention in governance forums, including the Customer Committee, Member & Employer panel etc.
Customer Value Management (CVM) tools:
- Help Nest identify, build and deliver market leading omnichannel tools that will make its CVM function best in class
Relationships and autonomy
- As a senior role, delivering a crucial function for Nest, the role will confidently operate with Head of peers and Directors, ExCo and Board
- It must work collaboratively with every part of Nest and key partners such as TCS to ensure Nest’s in-life growth and retention strategy is understood and successfully delivered
- It will manage the achievement of KPIs and will seek and manage the appropriate budget and resources to do so
- As well as being an expert on Nest’s customers, their behaviours and needs, the role will continue to seek external sources of best practice including working with relevant partners, industry forums, peer-to-peer opportunities and influencers
Experience and technical skills
- Extensive experience at Head of level (or similar such as GM or Director) for customer value management or existing customer management roles, covering in-life growth and retention, ideally within Financial Services or similar regulated service industries and with bases of many millions of customers
- Extensive strategy development and execution skills, with ability to demonstrate previous success in transforming an organisations in-life growth and retention capabilities and performance
- Proven ability of influencing including to Board level, with strong communication and ‘story telling’ skills
- Strong track record of managing and delivering improved in-life growth and retention KPIs and proven ability to improve lifetime value, using a variety of levers (propositions, offers, engagement, journey improvement) to achieve this
- Excellent understanding of data analytics and customer segmentation, with experience using insights to drive strategy and decision-making.
- High comfort with in-life customer base management related tools and models such as CRM, CLV
- Significant and successful team leadership experience, with a demonstrated ability to hire, grow and motivate a high-performing team and strong commercial acumen and financial management skills, with experience in building business cases and managing budgets effectively.
- High comfort with matrix agile ways of working
Personal attributes
- Naturally, passionate about customers and continually seeking news way to understand and anticipate their needs
- Equally passionate about high performing teams and fostering continuous sources of motivation, inspiration, innovation, accountability and collaboration
- Strategic thinker with the ability to translate high-level objectives into actionable plans that deliver measurable outcomes.
- Strong communicator and influencer, able to engage and build relationships with stakeholders at all levels.
- Adaptable and resilient and able to manage multiple priorities effectively.
- Able to balance patience and tenacity when leading an organisation to create new capabilities whilst having competing priorities
- Happy to balance the blend of creative and commercial on a day to day basis
Differentiators
At Nest we do things differently. In-life growth and retention activities are not all about maximising profit – they are about making sure Members understand their personal requirements for their financial wellbeing, specifically their retirement, and are able to make informed decisions with regard to their Nest pension and the contributions they make. We are transparent and fair in all our interactions with them.
We are open to discussing working patterns.
We welcome all internal applicants to apply for our roles, regardless of your current working pattern or hours. We will aim to accommodate your request and match your current working arrangements.
Don't worry if you think you don't have all the key skills, it might be worth taking the few minutes to apply as we're good at spotting potential and offer a generous training budget.
Please download a full job description to find a full scope, deliverables, experience and personal attributes required for this role.
Please note the closing date is: 22 January 2025.
Reward and recognition
- A discretionary bonus scheme
- Reward and recognition scheme
- Enhanced auto enrolled pension – your contributions start at the default 5% while ours are higher at 8%. If you up your contributions to 6% we raise ours to 9%. If you contribute 7% or more we’ll contribute 10%.
- Income protection scheme – is an insurance benefit that provides you with income if you cannot work due to illness or incapacity.
Flexible and agile working
Everyone's personal situation is different.
To make the most out of hybrid working, we've introduced different ways of working, which include (subject to role requirements):
- hybrid of office (Canary Wharf, London) and home working (there will be an expectation to attend the office, once - twice a week, or more, as required)
- reduce or vary working hours
- reduce or vary the days worked
- work compressed hours
- job share
For more information about our recruitment process click here