Identifying And Enabling Opportunities For Sustainable Growth. Barbara Mason Executive Vice-President, Marketing, Sales & Service

Transcription

1 Identifying And Enabling Opportunities For Sustainable Growth Barbara Mason Executive Vice-President, Marketing, Sales & Service Agenda Marketing supporting the growth objective The emerging affluent segment Attractiveness Sizing the prize Capitalizing on the opportunity Pilot results 29

2 Supporting The Growth Objective To be the best at helping customers become financially better off by providing relevant solutions to meet their unique needs. Savers & Borrowers Emerging Affluent Small Business Affluent Commercial Needs-Based Selling Advice-Based Solutions All needs Full financial plan Packaged product On-going Excellent Service 30 Effective Advertising Increasing Propensity To Buy Relevant Customer Messages Customer propensity to buy again 80% Overall market propensity 38% Media Buy Effectiveness 31

3 Driving Growth With Database Marketing Predictive models 70 Models Event triggers 10,000 / Day Permission-based 6MM in MM in Optimizing Offers Across Channels Data Warehouse Online Call Centres Branch Direct ABMs Prospects Mail Statements +14 million pro-active customer contacts annually 33

4 Agenda Marketing supporting the growth objective The emerging affluent segment Attractiveness Sizing the prize Capitalizing on the opportunity Pilot results 34 Segmenting Canada s Investors 10% 60% 25% Affluent 32% Emerging affluent 65% 8% Savers Households Investments + Deposits 12 Million $1 Trillion+ 35

5 Rate of Investable Asset Growth Faster With Emerging Affluent Mass Market Emerging Affluent +5% CAGR $456B +3% CAGR $284B $90B $118B Diversified Needs And Products 100% 50% 0% Mortgage Line of credit Credit Card Mutual Fund GICs Mass Emerging Affluent 37

6 Average Wallet Size Is Larger Balances Per Household 3x higher $180,000 $65,000 Mass Emerging Affluent 38 Investment Holdings Not Yet Consolidated Average Number of FIs Used % higher 2 0 Mass Emerging Affluent 39

7 Emerging Affluent Attractive Segment Sizeable market (HH & $) Strong, steady sustainable balance growth Diversified product mix Higher average balances Unconsolidated as yet 40 Agenda Marketing supporting the growth objective The emerging affluent segment Attractiveness Sizing the prize Capitalizing on the opportunity Pilot results 41

8 Increase Our Investment Share of Wallet Share of Investment Wallet 39% 26% 32% 6% Mass EA Current EA - Opportunity 6% = $4.4B in Investment Balances 42 Growing Investments With Small Business Existing Retail/SMB Customers SMB Only Retail Elsewhere 20,000 New Emerging Affluent Customers Retail Only SMB Elsewhere $1.3B in Investment Balances 43

9 Acquiring New Emerging Affluent Households 1% increase in EA households 36,000 households = 38 per branch $3B in Investment Balances 44 Emerging Affluent: The Growth Opportunity Opportunity Grow investment share of wallet Small Business Focus 1% increase in emerging affluent households Total Potential Increase in Investment Balances $4.4B $1.3B $3.0B $8.7B 45

10 Agenda Marketing supporting the growth objective The emerging affluent segment Attractiveness Sizing the prize Capitalizing on the opportunity Pilot results 46 Capitalizing On The Opportunity Overall Value Proposition Dedicated financial advisor Needs-driven full financial plan Financial portfolio review Simple investment switch Annual, on-going reviews 47

11 Capitalizing On The Opportunity Value Proposition Dedicated financial advisor Solution Branch based PFP accredited advisor Customer alignment 48 Capitalizing On The Opportunity Value Proposition Dedicated financial advisor Needs-driven full financial plan Solution Branch based PFP accredited advisor Customer alignment Scotia Blueprint TM Financial portfolio review Portfolio Analyzer 49

12 Capitalizing On The Opportunity Value Proposition Dedicated financial advisor Needs-driven full financial plan Solution Branch based PFP accredited advisor Customer alignment Scotia Blueprint TM Financial portfolio review Portfolio Analyzer Simple investment switch Centralized fulfillment 50 Capitalizing On The Opportunity Value Proposition Dedicated financial advisor Needs-driven full financial plan Solution Branch based PFP accredited advisor Customer alignment Scotia Blueprint TM Financial portfolio review Portfolio Analyzer Simple investment switch Centralized fulfillment Annual, on-going reviews Blueprint online & performance triggers 51

13 Agenda Marketing supporting the growth objective The emerging affluent segment Attractiveness Sizing the prize Capitalizing on the opportunity Pilot results 52 Excellent Results From Pilot Mutual fund sales 2.5 x higher Investment sales 2 x higher Referrals to wealth 55% higher Identified off-us holdings 11% higher 53

14 Supporting The Growth Objective To be the best at helping customers become financially better off by providing relevant solutions to meet their unique needs. Savers & Borrowers Emerging Affluent Small Business Affluent Commercial Needs-Based Selling Advice-Based Solutions All needs Full financial plan Packaged product On-going Excellent Service 54