The document sheds light on the needs of today's consumers; the marketing paradox and consumer touch points. Communication through various channels.
The document also elaborates on the concept of Marketing as a bridge, Customer Experience Management and the Customer Analytics framework.
Latency, Need based marketing, Channel innovation and the optimization process is also mentioned in the document.
5. Its’ a Fan
It’s a
wall
Its’ a
Spear
Its’ a
Rope
Its’ a
Tree
6. What does the customer need?
Credit Card
Discount
Offers
Insurance
Trade
Finance
Home
Loan
7. The Marketing Paradox
“The very things • Statement stuffers
that marketers are • Junk mail
doing to build • Pop-up ads
relationships with • And…
customers are
often the things
that are destroying
those
relationships.”
Harvard Business Review
January, 1998
8. Customer Touchpoints
Customer today is value hunting across multiple channels!
Website Call Centers
POS Customer Mobile
Buying
E-Mail
9. Channel Communication
Confidence among consumers for marketing communications
across media
Title in here
87%
Word Of Mouth
Newspapers 77%
Online Opinions 73%
Brand Websites 72%
Television 65%
Magazines & Radio 64%
41%
Search Engine Ads
Online Banner Ads, Mobile Ads 29%
Source : AC Nielsen
10. Expectations Hype
There is a huge gap between the Customer’s expectations and the actual fulfillment
Plan &
Sell
Identify and communicate with the
Plan&Sell right target audience
Carry out the actual fulfillment
Execute
Analyze
Execute
Success
Analyze Measure the results and determine
Success success
12. Marketing as a Bridge
With EMM
CEO CFO The earlier complaints :
- Marketing not aligned with CFO concerns
- Not tracking the right metrics
- Not Playing a role in critical strategy
Now :
- More closely aligned with Cash flow drivers
- Tactical as well as Strategic function
Speak the language of finance
Title in
here
13. Typical Customer View
Mr Jain
Mr Jain is an
attractive target
Married, 2 children,
Marketing for home loans Marketing
Joint family
Mr Jain
No problem of re-payment is a good customer
Collections Collections
of 2-wheeler loan
Mr Jain is a hot lead
Call Mr.Jain called up thrice last for a personal loan Call
Center Month for loan against home Center
Mr.Jain may be moving
Mr.Jain’s 2-wheeler is co.
On to a new job
Risk Financed and there is a Risk
Fore-closure request
Is Mr Jain a potential customer? Is he safe?
14. Need of the hour
Alignment!
Future
Vision
Historical Strategy
Performance
15. Customer Experience Management
Optimization
Experience Offer Management
Service Management
Management
Response
Management
Age of Consumerism!!!
16. One Integrated Customer View
Mr Jain
Event Treatment
Marketing
Married, 2 children,
Marketing Joint family
Mr.Jain has
possibly
Married, 2 children, lost/changed his Collections
No problem of re-payment Joint family, No job and we need
Collections of 2-wheeler loan Problem on repayment to validate his
Of 2 wheeler loan. employment
Enquiring for loan
Mr.Jain called up thrice last
status and credit Call
Against home and
Call Month for loan against home worthiness before Center
There is a foreclosure
Center proceeding with
Request on 2 wheeler
Loan. any new business
Mr.Jain’s 2-wheeler is co. with him.
Risk Financed and there is a Risk
Fore-closure request
Financial
Department
Consolidation Closed Loop
Learning
17. Customer Analytics Framework
Customer
Segmentatio
n
Propensit
Response y Models
Capture
Customer
Analytics
Single
Use of Customer
EMM Tool View
18. Imagine a full stadium with 70,000 people
Which of those people are open to buy NOW ?
Suppose that it is only 0.2%
TIMING RELEVANCE SPEED
(which means 140)
Who are those 140 people? (timing)
What do they want to buy? (relevance)
How much time do you have left to sell? (speed)
19. Latency / Need based Marketing
• While the CSR is still talking/listening to the
customer
• While the customer is still using the ATM
• While the web page is still in front of the
Business event customer
• Speed of Response = Higher Revenue
Data
latency Data captured
Value
Analysis
Intelligence delivered
latency
Decision Action
latency taken
Point-of-Sale Call Center
Action time
Source: Bolder Technology
20. Channel Innovation – ATM Insufficient Funds
• EBM Campaign Overview
– Identify customers who are
using ATM for cash • Success Criteria
withdrawals but having
insufficient funds in their – Customer Accepting PL
savings accounts
• Benefit
– These customers will have be
offered personal loan to
manage and plan their finance
– Customer can enjoy different
pricing according to their Low High
behavior score Customer Need
Low High
– Higher cross sell ratio Potential ROI
Low High
• Offer Strategic Value
– ICICI bank will offer a personal Ease of Execution
Harder
P
Easier
loan to the customer Longer Quicker
Time Sensitivity
• Preferred Channels Harder Easier
– Outbound calling - PL Measured Easily
Longer Quicker
– DM & SMS – PL Measured Quickly
21. Where we want to be…..
Strategic Customer Insight Seamless Execution
Channels Segments
Source Data Leads/ Offers
Reports & Analytics
Enterprise Data
Web
Loans Warehouse
Purchase Profitability Segmentation
Modeling Call
Social
Center Butterfly
Cross Sell
Multi-Channel Campaign Automation
Email
Liabilities Campaigns
Mailer
Query Campaign Campaign
Design Automation High Flyers
Investment Agent or
s Account
Event-Driven Marketing Manager
Credit Real Time Enterprise
Cards Events Rules SMS
Traditionalists
Responses
23. Optimization Process
Generate, Best Leads Frequency, Max # Leads Process Deliver to
Prioritize, and Across Recency, & Per Cycle By Channel Channel
Dedup Leads Communications Preference Total Comm
Marketing
Priority #1
High Value
Communications
Call Center Customers
Call Centre
Execute Channel Rule
Priority #2 Database
Channel
Capacity = 6
Low Value
Priority #3 Customers
Email
Priority #4
Electronic
Channels
Database
Segment Channel Responses
Plans
Prioritize
Dedup Across Max # Channel
W/Comm Comm Limiting Leads Capacity
Unrealized Opportunities
Data Warehouse
24. Optimization Effect
OFFERS CHANNELS CUSTOMERS
X X
Optimising Contacts
“Thousands” “Multiples” “Millions”
CONSTRAINTS
Product Targets Channel Capacity Customer Fatigue
Product Budgets Min mail Volume Preferences
Optimisation mathematically determines…..
The Best Offer & The Best Channel to Maximise the ROI of all campaigns
25. EBM :Turn the conventional model on its head
Triggers
Simplistic Transactional Changes
involving update of Single Field
High INR 50 K Deposit
Secondary Events
Business Value
Triggers coupled with additional
rules to determine significance to
the individual
Significant Deposit, Deposit is 2*
average
Patterns
Patterns
Secondary Events Combination of multiple triggers &
Secondary events occurring in
Low Triggers sequence over a period of time
Change in Employment.
Simple Complex INR 50K was redundancy, Salary
Event Complexity stopped.
Regular payments received from
new employer 4 weeks later