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TRANSCRIPT
CUSTOMERCENTRIC MARKETING
THEAGENDA
1. Who are the Union and why are we here?
2. What is Customer Centricity?
3. A Roadmap
4. The Scottish Friendly experience
THEUNION
UNIONCLIENTS
CUSTOMERCENTRIC MARKETING
OURCLIENTS
DATASHARPENING
CUSTOMERCENTRICITY
“You’ve gotta start with the customer
experience and work backwards to the
technology”
Steve Jobs, Apple
1 DATA
STRATEGY3
ANALYTICS2
DATA & TECHNOLOGY PLATFORMS4
AROADMAP
stated they’d be less likely to buy from a company who sends them multiple communications that are irrelevant and don’t meet their needs.
of consumers say they’re likely to switch brands if a company doesn’t make an effort to personalise communications to them
of retail financial services professionals say that improving the customer experience is their number one objective.
of organisations that invest in personalised consumer experiences agree it significantly contributes to increasing business profitability.
90%
85%
52%
40%
INDUSTRYPERSPECTIVE
10 x more
profitable
Source: rapp dataiq connected consumer report 2017
Only 1 in 10individualise
customer experience
HUGEOPPORTUNITY
COMMON CHALLENGES
}
INFORMATION
WITHOUT ACTIONTOO MUCH DATA AND
SCATTERED INSIGHTS
ORGANISATIONAL
SILOS
SOMERISKS
1 DATA
STRATEGY3
ANALYTICS2
DATA & TECHNOLOGY PLATFORMS4
AROADMAP
1 DATA
AROADMAP
DATA AUDIT
“A single customer view is the nirvana still being sought by the marketing majority”
?• Audit what you already have
• Start with where you are now
• Ask questions.
DATA AUDIT What do you already know?
What data is linked to customers?
What would you like to know?
Is your data easily accessible?
What could we learn by integrating more?
We know this, therefore…
REPORTING PLATFORM
A DATALANDSCAPE
CRM SAP/ERP
EXTERNAL DATA COMPLAINTS DATA
TECHNICAL DATA
GOOGLE ANALYTICS
E-COMMERCE SITE-CORE QUOTES
APPSIS
ENQUIRERS
DATADATAJUST DO ITS BREAKAGES
COMPLAINTS
• No Single Customer View • Data is fragmented across different operational
systems• Reporting platform can’t provide customer
insight or analytics capability
1 DATA AUDIT
ANALYTICS2
AROADMAP
ANALYTIC PLATFORMS
FLEXIBLE
ACCESSIBLE
ROBUST
FACILITATESDATA
ENGINEERING
CARRY OUT TEST
MEASURE &
EVALUATE
DRAW CONCLUSIONS
ESTABLISH IMPLICATIONS
TEST & LEARN
ESTABLISH NEW CONTROL
OPTIMISE & IMPROVE CREATIVE
1 DATA AUDIT
STRATEGY3
ANALYTICS PLATFORM2
AROADMAP
DATA SHARPENING TODELIVER INDIVIDUALISATIONMARKETING
EFFECTIVENESSROI
CUSTOMERS VS. PROSPECTS
MULTIPLE SEGMENTATIONS
BROADCASTCAMPAIGNS
SEGMENTATION MODEL
ONE 2 ONE MARKETING
GOLDEN RULES
SIGNIFICANT DIFFERENTIATION
Real variation actually exists that can be exploited by varying
communications’ content, offer, media channel, etc.
RETURN ON INVESTMENT
Any additional expense incurred by the individualisation by using differentiated
content delivers a measurable and positive uplift in desired outcome
CHOOSING ACONTACT STRATEGY
SEGMENTATIONTreat groups of customers differently:• Proposition• Communications strategy• Different channel strategy
NEXT BEST ACTIONDifferent actions for each customer:• Reduce costs• Offer new product• Enhance existing product
CentralisedDecisions
“We are now using analytics-driven product recommendations on our inbound contact
centre channel.
Because the suggestions are targeted and relevant, we have seen an eight percent uplift in our conversion rates.”
Stephen Ingledew, Standard Life, 2016
SET CLEAR
OBJECTIVES FOR
THE MODEL
CONSIDER HOW
MUCH DIFFERENTIATION
YOU CAN
COPE WITH
START WITH YOUR
CURRENT DATA
AND CURRENT
MARKETING
STRATEGY
DECIDE HOW
THE MODEL WILL
BE IMPLEMENTED
AND USED
SEGMENTATIONSUMMARY
NEXTBEST ACTION
Triggered spend and save life events
BEST PRODUCT / ACTION SEGMENT 1
BEST PRODUCT / ACTION SEGMENT 2
BEST PRODUCT / ACTION SEGMENT 3
Triggered spend and save life events
CUSTOMERCENTRIC TRIGGER
BEST ACTION BEST TIME SEGMENT 3
BEST ACTION BEST TIME SEGMENT 2
BEST ACTION BEST TIME SEGMENT 1
1 DATA AUDIT
COMMUNICATIONS STRATEGY3
ANALYTICS PLATFORM2
AROADMAP
DATA & TECHNOLOGY PLATFORMS4
• Data Audit• Start with what you have and know
• Connect Channels when you can and when you need to
• Use Analytics to learn what works• Introduce predicitive modelling (machine learnt or human)
• Consider your sales attribution models
• Test and Learn approach – fail fast and often if you can afford it
• Determine your Contact Strategy• Next best action
• Segmentation
• Don’t• Invest in a Technology Platform too early
• Spend money on integration until you prove it works
CHECKLIST FORCUSTOMER CENTRICITY
FOR MORE INFORMATION PLEASE CONTACT DANIEL BATEY
uniondirect.co.ukunion.co.uk
THANK YOUVERY MUCH