CUSTOMER CENTRIC MARKETING 1. Who are the Union and why are we - PowerPoint PPT Presentation

CUSTOMER CENTRIC MARKETING

1. Who are the Union and why are we here? THE 2. What is Customer Centricity? AGENDA 3. A Roadmap 4. The Scottish Friendly experience

THE UNION

CUSTOMER CENTRIC MARKETING UNION CLIENTS

OUR CLIENTS

DATA SHARPENING

CUSTOMER CENTRICITY

“You’ve gotta start with the customer experience and work backwards to the technology” Steve Jobs, Apple

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of organisations that invest in 90% personalised consumer experiences agree it significantly contributes to increasing business profitability. of retail financial services 85% professionals say that improving the customer experience is their INDUSTRY number one objective. PERSPECTIVE of consumers say they’re likely to 52% switch brands if a company doesn’t make an effort to personalise communications to them stated they’d be less likely to buy from a company who sends them 40% multiple communications that are irrelevant and don’t meet their needs.

HUGE OPPORTUNITY 10 x 10 On Only 1 in 10 more mo in indiv ivid idualis lise pr profitabl ble cu customer er ex exper erien ence ce Source: rapp dataiq connected consumer report 2017

COMMON CHALLENGES

SOME RISKS INFORMATION ORGANISATIONAL TOO MUCH DATA AND WITHOUT ACTION SILOS SCATTERED INSIGHTS }

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DATA AUDIT “A single customer view is the nirvana still being sought by the marketing majority”

? DATA AUDIT What hat do o you ou al alread eady know know? What hat dat ata a is s linked nked to o cust custom omer ers? s? What hat woul ould you ou like ke to o know know? Audit what you already have • Start with where you are now • Ask questions. • Is s your our dat ata a easi easily accessi accessible? e? Wh What could we learn by y integrating more? We e know know thi his, s, ther heref efor ore… e…

EN ENQUIRER ERS A DATA LANDSCAPE SITE-CO SI CORE QUOT QU OTES E-CO COMMERCE CE CRM CR SAP/ SAP/ERP GOOGLE ANALYTICS EXTERNAL APPSI APPSIS DATA COMPLAINTS DATA REPORTING PLATFORM CO COMPLAINT NTS No Single Customer View • Data is fragmented across different operational • TECHNICAL DATA systems JU JUST DO DATA DA DA DATA BRE BREAKAGES ITS IT Reporting platform can’t provide customer • insight or analytics capability

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FLEXIBLE FACILITATES ANALYTIC DATA ACCESSIBLE ENGINEERING PLATFORMS ROBUST

TEST & LEARN CARRY OUT TEST OPTIMISE & MEASURE IMPROVE & CREATIVE EVALUATE ESTABLISH DRAW NEW CONTROL CONCLUSIONS ESTABLISH IMPLICATIONS

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DATA SHARPENING TO DELIVER INDIVIDUALISATION MARKETING CUSTOMERS VS. MULTIPLE EFFECTIVENESS PROSPECTS SEGMENTATIONS ROI SEGMENTATION BROADCAST MODEL ONE 2 ONE CAMPAIGNS MARKETING

GOLDEN RULES RETU RE TURN RN O ON I INVESTM TMENT SIGN SI GNIFICAN ANT DIFFERENTIATION ON Real variation actually exists that Any additional expense incurred by the can be exploited by varying individualisation by using differentiated communications’ content, offer, content delivers a measurable and media channel, etc. positive uplift in desired outcome

CHOOSING A CONTACT STRATEGY SEGMENTATION NEXT BEST ACTION Treat groups of customers differently: Different actions for each customer: Proposition Reduce costs • • Communications strategy Offer new product • • Different channel strategy Enhance existing product • •

Centralised Decisions

“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

SEGMENTATION SUMMARY SET CLEAR CONSIDER HOW START WITH YOUR DECIDE HOW OBJECTIVES FOR MUCH CURRENT DATA THE MODEL WILL DIFFERENTIATION AND CURRENT BE IMPLEMENTED THE MODEL YOU CAN MARKETING AND USED COPE WITH STRATEGY

NEXT BEST ACTION BE BEST PRO RODUCT / ACTIO ION SEGMENT 1 Triggered spend and save life BE BEST PRO RODUCT / ACTIO ION SEGMENT 2 events BE BEST PRO RODUCT / ACTIO ION SEGMENT 3

CUSTOMER CENTRIC TRIGGER BE BEST ACTIO ION BE BEST TIME SEGMENT TI NT 1 Triggered spend and BE BEST ACTIO ION BE BEST save life TIME SEGMENT TI NT 2 events BEST ACTIO BE ION BE BEST TIME SEGMENT TI NT 3

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CHECKLIST FOR CUSTOMER CENTRICITY 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 •

THANK YOU VERY MUCH FOR MORE INFORMATION PLEASE CONTACT DANIEL BATEY daniel.batey@uniondata.co.uk uniondirect.co.uk union.co.uk