Ce diaporama a bien été signalé.
Le téléchargement de votre SlideShare est en cours. ×

Leveraging Big Data to Drive Bank Customer Engagement and Loyalty


Consultez-les par la suite

1 sur 34 Publicité

Plus De Contenu Connexe

Diaporamas pour vous (20)

Similaire à Leveraging Big Data to Drive Bank Customer Engagement and Loyalty (20)


Plus récents (20)

Leveraging Big Data to Drive Bank Customer Engagement and Loyalty

  1. 1. Leveraging Big Data to Drive Customer Engagement and Loyalty The Future of Retail Banking 2012 28th November, 2012 Jim Marous @MarketforceRB #RBconf
  2. 2. Surrounded by ‘Big Data’?        THE   FINANCIALBRAND.COM   London Heathrow Yesterday November 22 Monday @MarketforceRB #RBconf 2
  4. 4. Big Data Already at Work •  Amazon recommends products customers are likely to buy •  Netflix recommends the next movie their customer would like to see with repeated success •  Pandora describes its service as “personalized radio that plays music you’ll love.” •  LinkedIn identifies, “people you may know”, with extremely high accuracy @MarketforceRB #RBconf 4
  5. 5. Big Data Opportunity For Banks •  Banks have customer demographic, financial, and transaction insight that provides a wealth of insight •  Big data is already being used with risk and fraud monitoring successfully •  Banks can reach sophistication in targeting that no other industry can achieve •  Better targeting ensures a better response as well as optimization of the marketing investment @MarketforceRB #RBconf 5
  6. 6. Big Data Challenge For Banks •  Consumers have transient relationships with multiple banks •  Banks no longer monopolize a consumer’s financial transactions thanks for PayPal, Amazon, Google, etc. •  Social profile becoming as important for view of preferences, buying patterns and networks •  Not all data is stored and far less is analyzed •  Lack of unified customer view and sharing across enterprise •  Privacy regulations @MarketforceRB #RBconf 6
  7. 7. Bank Marketers Are Multitaskers @MarketforceRB #RBconf 7
  8. 8. CMO Alignment With C-Suite @MarketforceRB #RBconf 8
  9. 9. CMO Alignment With C-Suite @MarketforceRB #RBconf 9
  10. 10. Creating A Full Customer Profile @MarketforceRB #RBconf 10
  11. 11. Big Data For Engagement & Loyalty •  Acquisition: Propensity models based on customer and prospect insight •  Engagement: Behavior and transaction driven promotions with geo-locational opportunities •  Social Graph Analysis: Customers with most social ‘clout’ •  Sentiment Analysis: Brand and product sentiment •  Cross-Selling: Recommendation engine for next best product, product propensity, etc. •  Customer Experience Analysis: Across channels •  Customer LTV: Current and potential value analysis •  Churn Analysis: Event triggers and attrition patterns @MarketforceRB #RBconf 11
  12. 12. The ‘Learning Relationship’ @MarketforceRB #RBconf 12
  13. 13. Digital Retargeting @MarketforceRB #RBconf 13
  14. 14. Personalized Email Offers @MarketforceRB #RBconf 14
  15. 15. PFM Transactions Drive Offers @MarketforceRB #RBconf 15
  16. 16. Discover Redemption Reward Recommendations @MarketforceRB #RBconf 16
  17. 17. American Express/Foursquare 17 @MarketforceRB #RBconf
  18. 18. Non-Financial Loyalty Offers @MarketforceRB #RBconf 18
  19. 19. Chase Community Giving @MarketforceRB #RBconf 19
  20. 20. Amex Small Business Saturday @MarketforceRB #RBconf 20
  21. 21. Movenbank Cred Score @MarketforceRB #RBconf 21
  22. 22. CBA Augmented Reality Mortgage App @MarketforceRB #RBconf 22
  23. 23. Big Data Crowdsourcing Engagement Fidor Bank First Direct Bank @MarketforceRB #RBconf 23
  24. 24. Big Data Maturity Curve Russell Ackoff, "From Data to Wisdom" @MarketforceRB #RBconf 24
  25. 25. New Data Paradigm •  Benefits. Most consumers are willing to share their personal data, given sufficient awareness on the benefits of digital identity applications and the implications for data collection and usage. •  Responsibility. Personal data needs to be recognized as a highly valuable asset, requiring an adequately high level of security, and a limitation to the least sensitive data for the targeted use. •  Transparency. By being open and clear about their data processes, organizations effectively mitigate confidence risks and attract more informed customers to their platforms and applications. •  Control. Individuals' preferences regarding data sharing differ widely. Easy-to-use options and controls allow individuals to adapt their sharing to their specific needs. @MarketforceRB #RBconf 25
  26. 26. MAKE SURE YOU NEED A BIG DATA SOLUTION Review volume, velocity and variety needs @MarketforceRB #RBconf
  27. 27. USE MORE DIVERSE DATA NOT JUST MORE DATA Combining multiple data sources can yield the most interesting insights @MarketforceRB #RBconf
  28. 28. DATA DOESN’T HAVE AN EXPIRATION DATE Keep data longer than you would think you would need to @MarketforceRB #RBconf
  29. 29. EXPECT DATA TO GROW EXPONENTIALLY Adding mobile and geo-locational data expands the amount of insight significantly @MarketforceRB #RBconf
  30. 30. DON’T MISTAKE REPORTS FOR INSIGHT Ask if the data is yielding meaningful insights that affect the success of the business @MarketforceRB #RBconf
  31. 31. DATA BECOMES MORE VALUABLE THE MORE PEOPLE WHO USE IT Broaden access across the organization @MarketforceRB #RBconf
  32. 32. SOLVE SMALL DATA ISSUES FIRST Eliminate internal data silos before tackling the larger issue of big data @MarketforceRB #RBconf
  33. 33. Big Data Staged Execution Novantas, 2012 @MarketforceRB #RBconf
  34. 34. Jim Marous SVP, Corporate Development New Control Cleveland, Ohio 1-216-218-4257 @jimmarous BANK MARKETING STRATEGY WWW.JIMMAROUS.BLOGSPOT.COM @MarketforceRB #RBconf 34