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

CUSTOMER CENTRIC MARKETING

THE

AGENDA

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

THE

UNION

UNION

CLIENTS CUSTOMER CENTRIC MARKETING

OUR

CLIENTS

DATA

SHARPENING

CUSTOMER CENTRICITY

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

Steve Jobs, Apple

1

DA DATA ST STRATEGY

3

AN ANAL ALYTICS

2

DA DATA A & TECHNOLO LOGY PLA PLATFO FORMS

4

A

ROADMAP

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.

• f consumers say they’re likely to

switch brands if a company doesn’t make an effort to personalise communications to them

• f retail financial services

professionals say that improving the customer experience is their number one objective.

• f organisations that invest in

personalised consumer experiences agree it significantly contributes to increasing business profitability.

90% 85% 52% 40%

INDUSTRY PERSPECTIVE

10 10 x mo more pr profitabl ble

Source: rapp dataiq connected consumer report 2017

On Only 1 in 10 in indiv ivid idualis lise cu customer er ex exper erien ence ce

HUGE

OPPORTUNITY

COMMON

CHALLENGES

}

INFORMATION WITHOUT ACTION TOO MUCH DATA AND SCATTERED INSIGHTS ORGANISATIONAL SILOS

SOME

RISKS

1

DA DATA ST STRATEGY

3

AN ANAL ALYTICS

2

DA DATA A & TECHNOLO LOGY PLA PLATFO FORMS

4

A

ROADMAP

1

DA DATA

A

ROADMAP

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 hat do

• you
• u al

alread eady know know? What hat dat ata a is s linked nked to

• cust

custom

• mer

ers? s? What hat woul

• uld you
• u like

ke to

• know

know? Is s your

• ur 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

• re…

e…

REPORTING PLATFORM

A DATA

LANDSCAPE

CR CRM SAP/ SAP/ERP

EXTERNAL DATA

COMPLAINTS DATA TECHNICAL DATA GOOGLE ANALYTICS E-CO COMMERCE CE SI SITE-CO CORE QU QUOT OTES APPSI APPSIS EN ENQUIRER ERS

DA DATA DA DATA JU JUST DO IT ITS BRE BREAKAGES CO COMPLAINT NTS

• No Single Customer View
• Data is fragmented across different operational

systems

• Reporting platform can’t provide customer

insight or analytics capability

1

DA DATA A AUDI AUDIT AN ANAL ALYTICS

2

A

ROADMAP

ANALYTIC

PLATFORMS

FLEXIBLE ACCESSIBLE ROBUST FACILITATES DATA ENGINEERING

CARRY OUT TEST MEASURE & EVALUATE DRAW CONCLUSIONS ESTABLISH IMPLICATIONS

TEST & LEARN

ESTABLISH NEW CONTROL OPTIMISE & IMPROVE CREATIVE

1

DA DATA A AUDI AUDIT ST STRATEGY

3

AN ANAL ALYTICS S PL PLATFORM

2

A

ROADMAP

DATA SHARPENING TO

DELIVER INDIVIDUALISATION

MARKETING EFFECTIVENESS ROI

CUSTOMERS VS. PROSPECTS MULTIPLE SEGMENTATIONS BROADCAST CAMPAIGNS SEGMENTATION MODEL ONE 2 ONE MARKETING

GOLDEN RULES

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

CHOOSING A

CONTACT STRATEGY

SEGMENTATION

Treat groups of customers differently:

• Proposition
• Communications strategy
• Different channel strategy

NEXT BEST ACTION

Different actions for each customer:

• Reduce costs
• Offer new product
• 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

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

SEGMENTATION

SUMMARY

NEXT BEST ACTION

Triggered spend and save life events

BE BEST PRO RODUCT / ACTIO ION SEGMENT 1 BE BEST PRO RODUCT / ACTIO ION SEGMENT 2 BE BEST PRO RODUCT / ACTIO ION SEGMENT 3

Triggered spend and save life events

CUSTOMER CENTRIC TRIGGER

BE BEST ACTIO ION BE BEST TI TIME SEGMENT NT 3 BE BEST ACTIO ION BE BEST TI TIME SEGMENT NT 2 BE BEST ACTIO ION BE BEST TI TIME SEGMENT NT 1

1

DA DATA A AUDI AUDIT CO COMMU MMUNI NICA CATI TIONS NS STR TRATE TEGY

3

AN ANAL ALYTICS S PL PLATFORM

2

A

ROADMAP

DA DATA A & TECHNOLO LOGY PLA PLATFO FORMS

4

• 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 FOR

CUSTOMER CENTRICITY

FOR MORE INFORMATION PLEASE CONTACT DANIEL BATEY

daniel.batey@uniondata.co.uk uniondirect.co.uk union.co.uk

THANK YOU VERY MUCH