OPTIMIZING THE CUSTOMER JOURNEY USING OMNI-CHANNEL MARKETING By Novantas

Size: px
Start display at page:

Download "OPTIMIZING THE CUSTOMER JOURNEY USING OMNI-CHANNEL MARKETING By Novantas"

Transcription

1 BankersHub.com May 2014 Newsletter Page - 1 OPTIMIZING THE CUSTOMER JOURNEY USING OMNI-CHANNEL MARKETING By Novantas The Omni-Channel Customer Newsletter Article May, 2014 ABOUT NOVANTAS Novantas, Inc. is the leader in customer science and revenue management strategy for the financial industries. Over the past 15 years, Novantas has served more than 300 banks and financial institutions from offices in New York, Chicago, Toronto, McLean, and Boston, providing consulting, advisory, cloud based analytics and information services. Novantas clients include 2/3 of the largest 50 North American Banking Institutions, eight of the top ten card companies, five of the largest global brokerage and investment banks, and twenty of the largest banks in Australia, UK, Asia, Middle East and Latin America. info@novantas.com As in more traditional retail industries, banking customers are embracing mobile, web, , and phone, in addition to branch locations for their sales and service interactions. This accelerating shift away from a storedriven model to one increasingly driven by a customer s desire for flexibility, immediacy, and 24-7 anytime, anywhere access is creating a growing urgency for banks to meet the demands of a new group of banking customers who expect communications to come to them in a variety of different channels. Increasingly valuable parts of a customer s business are being won or lost before they ever visit the branch. Not only are shoppers strongly influenced by information provided to them outside of the branch but more and more are willing to open accounts remotely. These developments are changing the game in customer acquisition and crosssell. According to the Novantas 2012 Omni-channel Survey, 58% of customers review web site information when selecting a new institution, and 50% view user-friendly online banking as a very important decision factor. When established customers get ready to open an additional account, more than 40% prefer to do so outside of the branch, either online or with a live rep over the phone. And the trend has continued to accelerate, leaving many smaller banks scrambling to keep up. ABOUT BankersHub BankersHub was founded in 2012 by Michael Beird and Erin Handel, 2 Financial Services professionals dedicated to educating and informing banks, credit unions, solution providers and consultants in the U.S. and worldwide. BankersHub delivers best practices, research insights, opinions, economic trends and consumer views through online web education, virtual events and conferences, live streaming activities, custom training and content development.

2 BankersHub.com May 2014 Newsletter Page - 2 It All Begins With the Customer Journey The phrase customer journey describes the way a customer moves through a cycle of interactions with your bank over time, from initial research and trial to acquisition, through relationship-deepening and broadening, and finally to a steady state in which a mature, stable, profitable customer relationship can serve as a source of new business. It has historically been used to describe a customer s purchase process in the online world, but it has not been well understood in respect to customers in an Omni-channel world. It is important to develop a mapping of the customer s journey (and there may be more than one) in order to better understand what paths customers typically take through your bank (what products to which customers through what channels). It is important to understand which ones are successful, and which ones result in stagnation or attrition. Each customer must then be monitored as they progress in order to know which marketing strategies will work best for each customer, and which marketing communications in which channels at what time will be most effective at moving customers to more profitable states in their relationships with you. An effective analysis of the customer journey begins with access to the data systems that house the information on your customers - you will want to be able to gather, consolidate, and analyze their behaviors, responses to campaigns, transactions, and other attributes both static and dynamic. All of these data points will help you map the milestones that make up the waypoints markers and characteristics that define important lifecycle stages in your customers journeys. For banks, the customer journey really starts with capturing the basic cash management components of the relationship: the core checking, savings, and credit-card products. Our point of view is that it s critical to capture as many of these core cash management components at the point of sale as possible (whether online, on the phone, or in person at the branch). The next step is onboarding, the crucial process of activating the customer and making sure they are using the features and functions of the core cash management products, treating your bank as their main financial institution (MFI). Many see onboarding as an opportunity to cross-sell additional products. Our practical experience is that, while that may be somewhat possible, the primary purpose of onboarding is activation and becoming the customer s primary cash management institution.

3 BankersHub.com May 2014 Newsletter Page - 3 Beyond onboarding, the customer journey then will split into multiple paths based upon the cash flow characteristics and potential of the customers. One path would lead to consolidating any off us deposits, another the financing of household assets, a third the incorporation of revolving credit into the relationship. Here, relationship expansion is often driven by trigger events in each customer s individual life journey moving and buying a new house, sending a child to college, saving for retirement, or maximizing income during retirement. Alternately, they can be based on propensities on the part of the customer which can be monetized through good old fashion marketing and selling. It is critical to understand these variations in customer journeys beyond onboarding with a more detailed mapping that will support appropriate Omni-channel communications all along the way. Doing the actual customer journey mapping is best approached through a simple discovery process with each of the functional areas in your bank that touch the customer: branch operations, customer service, online/mobile/digital, marketing and communications. Often the true complexity of the customer journey is masked because the customer leaves different footprints in each area, and if they are not understood from the point of view of the customer s interaction with your bank as a whole, important milestones may be missed. Diagramming the different swim lanes of the customer experience in different functional areas, and how they inter-relate, can be an effective technique for both creating a comprehensive understanding of the customer journey, and also understanding where there are gaps that impede that journey. For example, we have found that there are many leaks in the consumer credit customer journey between the expression of initial interest, the credit application, and the hand-off to underwriting; when these swim lanes (which can cross multiple channels like direct mail, , phone, and web) are not coordinated, the customer journey is interrupted or even halted if the customer is frustrated by the apparent lack of communication among channels or the failure to make a hand-off seamlessly. Moving the Customer along the Journey Once you have a good understanding of what your customer is experiencing along their journey, it is time to think about how to use that understanding to move the customer to a new state: welcoming them as new customers, nurturing them during the onboarding process, and communicating at important milestones with relevant offers that promote relationship deepening and/or broadening. In a typical marketing initiative, the bulk of a budget is often spent on the first part of the customer journey,

4 BankersHub.com May 2014 Newsletter Page - 4 where the goal is creating initial awareness of the need and generating an initial sale; building the top of the funnel and generating leads is often seen as the primary marketing objective. However, these messages are obviously very general and not personalized because they are necessarily targeted toward a broader audience, with more limited information about the targets. Based on our work, banks that focus more of their marketing budget on customers that are farther along the journey (e.g. have trigger events or inquire about a product) will see greater ROI from their marketing efforts you know more about these customers, they are generally more engaged, and you have more channels available to communicate with them. These marketing efforts farther along the journey require considerably more thought and planning, and a more sophisticated understanding of customer needs in order to ensure that your messages are timely, relevant, and effective. The next step, therefore, in planning your Omni-channel marketing strategy is to overlay a communication plan against the customer journey, focusing more on the later stages in the journey for greater effect. Your plan should include the types of messages you will deliver at each stage of the journey, what channels you will use to deliver those messages, and how they will be tailored to each customer segment. Your messaging becomes even more impactful when it is coordinated across multiple channels of communication, making use of more than one channel at a time. Effective Omni-channel Communication Strategy The number of channels that are available to support marketing communications with your customers continues to grow, but quality is often more important than quantity for an effective Omni-channel communication strategy. It s not a question of how many channels you use, but rather how you use them individually and together to reach your customers. There are four pillars that will help develop an effective communication strategy: consistency, coordination, timing and reinforcement. 1. Consistency especially for smaller institutions with 2-3 direct channels available - is one of your most important pillars. Messaging needs to be consistent across all channels so that the customer sees the same branding and content regardless of how it is communicated. The customer needs to begin to feel a sense of familiarity and understanding of your message and branding.

5 BankersHub.com May 2014 Newsletter Page Now that you have a consistent message, coordination across channels shows customers that all parts of your business are informed and working together. A customer should not receive a message in one channel that is not informed by a customer response to an earlier communication in another channel. A coordinated effort breeds trust and opens the door for future communication. 3. Timing is also critical. If the timing of your messaging is off, the customer will be confused and begin to ignore your messaging. By understanding where the customer is in their journey with you, it will be easier to provide a well-timed message that is relevant to their financial needs at that point in the journey. 4. Finally, reinforcement will help to accelerate the pace at which the customer travels through their journey, and keep more customers on the journey. One hard fact of communication is that it has to be continuous, repetitive and reinforcing. Building awareness, comprehension, and intention will bring in a good customer response, but the efforts will go to waste if the message is not reinforced. Of course, it s critical not to over-message or under-message: we have found that, although the number varies greatly, the ideal number of touch-points in a given channel is between 5 and 9 fewer than that, and you haven t captured the customer s attention; more than that, and you annoy the customer and run the risk of turning them off, having them opt out of future communications, or just plain ignore you because they are being bombarded with too many communications. After implementing all four pillars into your communication strategy, your message to your customers will be one that leads to trust and responsiveness, supporting your ultimate goal of moving the customer through the stages in the journey and reducing fall-off. How Do You Know If Your Omni-channel Strategy is working? You will never know if your new strategy is effective without taking the time to measure and track your efforts. Prior to kicking off your Omni-channel strategy, it is important to design and implement an effective insight plan. You need to track response and conversion, and review effectiveness throughout the implementation phase. All too often, for example, the credit for a sale is given to the

6 BankersHub.com May 2014 Newsletter Page - 6 branch because that is the last channel used before conversion/account opening. However, without the prior s, direct mailings, call center efforts, statement messages, online splash pages, and other communications, would that customer have walked through the door to open that checking account? More sophisticated models should be developed in order to properly track marketing attribution. By measuring and analyzing the customer response to each of your marketing actions, you will be able to adjust your strategy as needed to create the most effective communications matrix possible against your target customers at every step of their customer journey. Competing With the Big Banks The largest banks are already making some serious inroads using ever-more-sophisticated Omnichannel strategies, taking advantage of every channel that is available to them. These banks are delivering customized pages to authenticated website users, ATM messaging, statement inserts and messages, complex campaigns, mobile apps and messaging, all in addition to traditional means of communication (e.g. direct mail, call center, and the branch). How can small to mid-size banks stay competitive with the giants in this Omni-channel era? It s not just about the number of communication channels, but, more critically, it s about the timing of the communications in those channels and understanding how to use data on your customers and prospects to make those communications as effective as possible. According to a 2013 Novantas multi-bank survey, leveraging and monetizing customer data is the pre-eminent retail banking challenge of the coming years. One of the most powerful ways to leverage this data is to gain insights into the customer journey and to engineer that journey to take the customer farther and faster towards a deep, profitable relationship with your bank. To Sum It Up Banks large and small are advancing down the path towards ever-more complex Omni-channel marketing communications together. Bigger banks may be farther ahead, but they re far from perfect. And smaller banks can start right away and use big bank techniques on small bank budgets by being smart about the channels they use and how they coordinate and measure efforts across these channels.

7 BankersHub.com May 2014 Newsletter Page - 7 By understanding your customer journey and creating an Omni-channel communication strategy to intersect with the customer at all the important stages along that journey, you will generate a higher ROI on your marketing investments. The key to success is a coordinated effort among the channels that are already in place, with a focus on the later stages of the customer journey. Measuring and tracking your results will allow you to fine-tune your strategy and create a virtuous spiral of everbetter response and conversion BankersHub and Bstuff LLC all rights reserved Visit us at

10 Steps To Getting Started With. Marketing Automation

10 Steps To Getting Started With. Marketing Automation So the buzz about marketing automation and what the future holds for marketing in general finally got to you. Now you are ready to start using marketing automation and are not really sure where to start.

More information

Introduction to Integrated Marketing: LEAD NURTURING

Introduction to Integrated Marketing: LEAD NURTURING Introduction to Integrated Marketing: LEAD NURTURING Your company probably spends a lot of time and money generating qualified leads, but how many of those result in closed deals? The truth is, there s

More information

The Power of Personalizing the Customer Experience

The Power of Personalizing the Customer Experience The Power of Personalizing the Customer Experience Creating a Relevant Customer Experience from Real-Time, Cross-Channel Interaction WHITE PAPER SAS White Paper Table of Contents The Marketplace Today....1

More information

to Maximize Return on Investment with Marketing Automation

to Maximize Return on Investment with Marketing Automation 4 Ways to Maximize Return on Investment with Marketing Automation 4 Ways to Maximize Return on Investment with Marketing Automation The Challenge: Maximising the time and money you invest in the online

More information

IS YOUR WEBSITE LEAKING LEADS?

IS YOUR WEBSITE LEAKING LEADS? GETSMARTCONTENT ACCOUNT BASED MARKETING IS YOUR WEBSITE LEAKING LEADS? Always Relevant Marketing Catches Missed Opportunities to Connect www.getsmartcontent.com I. THE DREAM OF THE MARKETER It s the dream

More information

Marketing Report 2015

Marketing Report 2015 The State of Marketing Report 2015 TABLE OF CONTENTS EXECUTIVE SUMMARY KEY FINDINGS DETAILED INSIGHTS 2 3 6 Meeting Consumer Needs Consumer Channel Preference Marketers Current Workflow How Marketers Workflow

More information

Email Media: CRM opportunities from employee email traffic $ CONVERSION RETENTION PERSONALISATION PROFILING

Email Media: CRM opportunities from employee email traffic $ CONVERSION RETENTION PERSONALISATION PROFILING Email Media: CRM opportunities from employee email traffic $ CONVERSION RETENTION PERSONALISATION PROFILING CRM opportunities from employee email traffic No matter how sophisticated a company s CRM programme

More information

Get your businesses going in the right direction with a targeted list of permission based emails. Don t get into spam. Get into their hearts.

Get your businesses going in the right direction with a targeted list of permission based emails. Don t get into spam. Get into their hearts. EMAIL MARKETING Get your businesses going in the right direction with a targeted list of permission based emails. Don t get into spam. Get into their hearts. PERMISSION SEGMENTATION SUCCESS We all are

More information

MULTICHANNEL MARKETING

MULTICHANNEL MARKETING REPORT Report Multichannel Marketing MULTICHANNEL MARKETING A Study Highlighting Current Approaches and Investment, Opportunities and Key Challenges 1 2 Introduction 4 Key findings 6 Conclusion 19 3 INTRODUCTION

More information

MODERN MARKETER S GUIDE TO B2B LIFECYCLE MARKETING Chapter 2: Lead Generation

MODERN MARKETER S GUIDE TO B2B LIFECYCLE MARKETING Chapter 2: Lead Generation MODERN MARKETER S GUIDE TO B2B LIFECYCLE MARKETING Chapter 2: Lead Generation Chapter 2: Lead Generation - overview Introduction...3 The Modern Marketer...4 Lead Generation basics...5 Modern Marketing

More information

THE 10 Ways that Digital Marketing + Big Data =

THE 10 Ways that Digital Marketing + Big Data = 1 Ways that Digital Marketing + Big Data = Sales Productivity The best global companies are transforming the way they market and sell. Here s how! Evolves into Digital TOP 10 about us MarketBridge is a

More information

Marketing Automation User; 2010 marketing review notes and 2011 plans

Marketing Automation User; 2010 marketing review notes and 2011 plans Marketing Automation User; 2010 marketing review notes and 2011 plans Each December we ask our marketing customers if they would like to participate in a short, informal yearend review. The scope of the

More information

10 Strategies for an Award-winning Onboarding Process

10 Strategies for an Award-winning Onboarding Process 10 Strategies for an Award-winning Onboarding Process WHITE PAPER MARKETING SERVICES In December 2011, Harland Clarke Marketing Services received the prestigious Gold Award for Marketing Strategies from

More information

CRM On Demand now hosted locally in Europe. An Oracle White Paper 2011

CRM On Demand now hosted locally in Europe. An Oracle White Paper 2011 CRM On Demand now hosted locally in Europe An Oracle White Paper 2011 Innovation, fuelled by the rapid development of new technologies, continues to drive competitive advantage in the area of customer

More information

Big Data or Smart Data?

Big Data or Smart Data? Big Data or Smart Data? How to Maximize What You (Already) Know About Your Account Holders MARKETING SERVICES 1 Big data is a big deal. It s the topic of much debate at financial institutions and the cause

More information

What the Financial & Insurance Industries Can Learn from Retailers

What the Financial & Insurance Industries Can Learn from Retailers What the Financial & Insurance Industries Can Learn from Retailers 1 Retailers have long understood that personalization is a strong business driver that helps them market to their customers with more

More information

31 Examples of how Microsoft Dynamics CRM Integrates with Marketing Automation

31 Examples of how Microsoft Dynamics CRM Integrates with Marketing Automation 31 Examples of how Microsoft Dynamics CRM Integrates with Marketing Automation Manage Email Campaigns In-House 1. Quickly Design Emails Save time creating marketing emails using drag and drop template

More information

A KUNO CREATIVE EBOOK. How to Get Started with MARKETING AUTOMATION

A KUNO CREATIVE EBOOK. How to Get Started with MARKETING AUTOMATION A KUNO CREATIVE EBOOK How to Get Started with MARKETING AUTOMATION So you have a database of a few thousand contacts. Every month you send those contacts a nice email newsletter with little bits of information

More information

Journeys CONSUMER-CENTRIC MARKETING PROGRAMS THAT MATTER. The Lifecycle Marketing Agency. Marketing Cloud Gold Partner Partner Advisory Council

Journeys CONSUMER-CENTRIC MARKETING PROGRAMS THAT MATTER. The Lifecycle Marketing Agency. Marketing Cloud Gold Partner Partner Advisory Council Journeys CONSUMER-CENTRIC MARKETING PROGRAMS THAT MATTER The Lifecycle Marketing Agency Marketing Cloud Gold Partner Partner Advisory Council Journeys MARKETING CAMPAIGNS ARE OBSOLETE Today s customer

More information

The Customer Experience:

The Customer Experience: The Customer Experience: The Holy Grail of Competitive Advantage. 1 A great customer experience has emerged as the holy grail of competitive advantage. Providing a great customer experience has emerged

More information

Best Use of Direct Marketing

Best Use of Direct Marketing Best Use of Direct Marketing 2015 Nomination Form Nominations should be in respect of activity completed during the organisation s 2014 financial year. This award will recognise the campaign that demonstrates

More information

White Paper. Real-time Customer Engagement and Big Data are Changing Marketing

White Paper. Real-time Customer Engagement and Big Data are Changing Marketing Real-time Customer Engagement and Big Data are Changing Marketing Real-time Customer Engagement and Big Data are Changing Marketing Marketing is rapidly approaching to what marketers have often dreamed

More information

Table of Contents. Introduction 3. Why You Need a Customer Relationship Management (CRM) System 4. The Sales and Marketing Funnel 8

Table of Contents. Introduction 3. Why You Need a Customer Relationship Management (CRM) System 4. The Sales and Marketing Funnel 8 Table of Contents Introduction 3 Why You Need a Customer Relationship Management (CRM) System 4 Key benefits of CRM systems 4ting Sales Processes via Email 6 Why email? 6 Sales email cycles 7 The Sales

More information

Wealth and Asset Management Services Spotlight. Redefining the Wealth Management Client Onboarding Experience

Wealth and Asset Management Services Spotlight. Redefining the Wealth Management Client Onboarding Experience Wealth and Asset Management Services Spotlight Redefining the Wealth Management Client Onboarding Experience Why is Client Onboarding an Imperative? As competition in the wealth management industry becomes

More information

NOUS CREATING POSITIVE CUSTOMER EXPERIENCE IN BANKING INFOSYSTEMS LEVERAGING INTELLECT

NOUS CREATING POSITIVE CUSTOMER EXPERIENCE IN BANKING INFOSYSTEMS LEVERAGING INTELLECT NOUS INFOSYSTEMS LEVERAGING INTELLECT CREATING POSITIVE CUSTOMER EXPERIENCE IN BANKING Abstract Understanding the customer experience is the key in today s highly competitive and changing banking industry.

More information

RAKUTEN ATTRIBUTION MEASURING THE MODERN SHOPPER RAKUTEN ATTRIBUTION

RAKUTEN ATTRIBUTION MEASURING THE MODERN SHOPPER RAKUTEN ATTRIBUTION RAKUTEN MARKETING Measuring the Modern Shopper Measuring the Modern Shopper Introduction Modern retailing is developing fast and the lines between online and offline are increasingly blurred. We have come

More information

Resetting digital strategy in Australia: Delivering what customers really want

Resetting digital strategy in Australia: Delivering what customers really want Resetting digital strategy in Australia: Delivering what customers really want Digital strategies in Australian financial services By Peter Stumbles and Gary Turner Peter Stumbles is a Sydney-based partner

More information

The Case for Commercial Data The Time to Act is Now

The Case for Commercial Data The Time to Act is Now Today, we have access to a vast amount of customer data that can be used to power sales and marketing efforts. That may not be the case tomorrow. behind. Currently, regulations for customer data are looser

More information

The Executive s CXM Strategy Guide

The Executive s CXM Strategy Guide The Executive s CXM Strategy Guide Cut through the CXM noise Customer Experience Management (CXM) is a strategy and practice for delivering online and offline customer experiences to acquire and retain

More information

White paper. Key considerations for successful lead management. Marketing Solutions

White paper. Key considerations for successful lead management. Marketing Solutions Marketing Solutions White paper Key considerations for successful lead management Written by: Christine Mariconda President Mariconda Marketing Solutions 631.462.6139 Tel 631.462.6138 Fax cm@mariconda-marketing.com

More information

How To Create A Customer Experience For Retail

How To Create A Customer Experience For Retail Webtrends for Retail Revolutionize Your Customers End-To-End Experiences Across Digital Channels solution brief JAN 2013 2013 Webtrends, Inc. www.webtrends.com. Webtrends for Retail Revolutionize Your

More information

THE ULTIMATE WEB PERSONALIZATION PLANNING GUIDE

THE ULTIMATE WEB PERSONALIZATION PLANNING GUIDE THE ULTIMATE WEB PERSONALIZATION PLANNING GUIDE HOW TO PUT YOUR PERSONALIZATION STRATEGY INTO ACTION TABLE OF CONTENTS Why Personalization is Important...2 Getting Started: Defining Personas and Journeys...3

More information

Episerver Digital Experience Cloud Omni-Channel Digital Commerce for Dynamics AX

Episerver Digital Experience Cloud Omni-Channel Digital Commerce for Dynamics AX Episerver Digital Experience Cloud Omni-Channel Digital Commerce for Dynamics AX Power closed-loop digital commerce helping retailers sell online faster and more easily Online marketing and digital commerce

More information

5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK

5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK 5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK CUSTOMER JOURNEY Technology is radically transforming the customer journey. Today s customers are more empowered and connected

More information

Solving the Challenge of Lead Management Automation

Solving the Challenge of Lead Management Automation WHITE PAPER Solving the Challenge of Lead Management Automation How We Did It and What We Learned Table of Contents Background... 1 Business Challenges... 2 Adapting to Digital Marketing... 2 Developing

More information

Get Better Business Results

Get Better Business Results Get Better Business Results From the Four Stages of Your Customer Lifecycle Stage 1 Acquisition A white paper from Identify Unique Needs and Opportunities at Each Lifecycle Stage It s a given that having

More information

Why Business Intelligence is Mission Critical for Winning Against Your Competition. By Stan Cowan Senior Solutions Marketing Manager

Why Business Intelligence is Mission Critical for Winning Against Your Competition. By Stan Cowan Senior Solutions Marketing Manager White Paper Business Intelligence Why Business Intelligence is Mission Critical for Winning Against Your Competition By Stan Cowan Senior Solutions Marketing Manager Why Business Intelligence is Mission

More information

COURTING SMALL BUSINESS BANKING PROSPECTS IS LIKE DATING!

COURTING SMALL BUSINESS BANKING PROSPECTS IS LIKE DATING! BankersHub.com January 2015 Newsletter Page - 1 COURTING SMALL BUSINESS BANKING PROSPECTS IS LIKE DATING! By Julie Dunn Story Newsletter Article January, 2015 ABOUT THE AUTHOR Julie Dunn Story brings years

More information

Creating the customer experience

Creating the customer experience Creating the customer experience INSIGHT. EXECUTION. ADVANTAGE. Customer experience outsourcing that transforms business performance 3 Your customer management future 5 The Webhelp difference 8 Services

More information

Introducing IBM Digital Analytics Lifecycle

Introducing IBM Digital Analytics Lifecycle Introducing IBM Digital Analytics Lifecycle Perfecting the science of the customer journey Contents 1. Introduction 2. Why IBM Digital Analytics Lifecycle? 3. Understanding the customer lifecycle 4. Pinpointing

More information

Customer Segmentation and Profitability

Customer Segmentation and Profitability Customer Segmentation and Profitability Building Loyal, Profitable Customers S O L U T I O N P A P E R : FINANCIAL SERVICES SOLUTION PAPER: FINANCIAL SERVICES Customer Segmentation and Profitability Building

More information

Lionbridge 2014 Global Email Survey Results

Lionbridge 2014 Global Email Survey Results Lionbridge 2014 Global Email Survey Results Introduction Today s consumers are more connected and more savvy than ever. While mobile marketing on social media channels gets the Lion s share of attention,

More information

THE 7 STEPS TO A SUCCESSFUL CRM IMPLEMENTATION DEPLOYING CRM IN THE NEW ERA OF CONNECTED CUSTOMERS

THE 7 STEPS TO A SUCCESSFUL CRM IMPLEMENTATION DEPLOYING CRM IN THE NEW ERA OF CONNECTED CUSTOMERS THE NEW ERA OF ABOUT THE AUTHOR Paul Rogers is the Head of Customer Experience and CRM within HCL s Applications Division. Based in London, Paul is responsible for leading HCL s CRM consulting and technology

More information

FundGUARD. On-Demand Sales and Marketing Optimization for Mutual Funds and Wealth Management

FundGUARD. On-Demand Sales and Marketing Optimization for Mutual Funds and Wealth Management FundGUARD On-Demand Sales and Marketing Optimization for Mutual Funds and Wealth Management Angoss FundGUARD is the only solution that provides sales leaders and marketing professionals with predictive

More information

Build stronger customer relationships in the digital world

Build stronger customer relationships in the digital world FusionBanking Essence PFM Software overview Build stronger customer relationships in the digital world Innovative, personalised digital banking solutions Personal Finance Management (PFM) functionality

More information

SALES EXECUTION TRENDS 2014

SALES EXECUTION TRENDS 2014 SALES EXECUTION TRENDS 2014 Dec 2013 Top Objectives & Challenges Facing Sales Leaders As organizations shift from maintenance mode to growth mode, and from enablement to execution, sales leaders must have

More information

10 TIPS FOR ACCELERATING YOUR PIPELINE

10 TIPS FOR ACCELERATING YOUR PIPELINE 10 TIPS FOR ACCELERATING YOUR PIPELINE Accelerate the Funnel The average sales cycle length has increased 22% over the past five years due to more decision makers being involved in the buying process (SiriusDecisions).

More information

Leveraging Financial Education To Drive Sales Online

Leveraging Financial Education To Drive Sales Online Leveraging Financial Education To Drive Sales Online Creating value for the consumer Creating value for the financial institution Contents Executive summary Financial websites and consumer utilization

More information

Customer Lifecycle Management How Infogix Helps Enterprises Manage Opportunity and Risk throughout the Customer Lifecycle

Customer Lifecycle Management How Infogix Helps Enterprises Manage Opportunity and Risk throughout the Customer Lifecycle Customer Lifecycle Management How Infogix Helps Enterprises Manage Opportunity and Risk throughout the Customer Lifecycle Analytics can be a sustained competitive differentiator for any industry. Embedding

More information

Customer Centric Banking. June 2014, IBU Banking, SAP

Customer Centric Banking. June 2014, IBU Banking, SAP Customer Centric Banking June 2014, IBU Banking, SAP EMPOWERED CUSTOMERS ARE 79% 53% 59% Digitally Connected of customers spend at least 50% of total shopping time researching brands online. Socially Networked

More information

InfoGlobalData specialise in B2B Email Lists and Email Appending Services.

InfoGlobalData specialise in B2B Email Lists and Email Appending Services. InfoGlobalData specialise in B2B Email Lists and Email Appending Services. We provide high quality mailing lists for your email marketing needs. Our data intelligence service can provide valuable insight

More information

Data Analytics: Six compelling reasons to dive deep for big returns

Data Analytics: Six compelling reasons to dive deep for big returns Data Analytics: Six compelling reasons to dive deep for big returns Jean Nickerson, CSP Senior Consultant Marketing Data Solutions February 2015 This article explores several opportunities for the B2B

More information

WHITEPAPER. Analytics in CRM. Insights to Action

WHITEPAPER. Analytics in CRM. Insights to Action WHITEPAPER Analytics in CRM Insights to Action CONTENT 1. INTRODUCTION 1.1 Abstract 1.2 Purpose 1.4 Methodology 2. EXPECTATIONS AND CHALLENGES 2.1 Customer expectations 2.2 Customer Insights 2.3 Opportunities

More information

How To Partner With Marketing Solutions: Financial Services

How To Partner With Marketing Solutions: Financial Services Marketing Solutions: Financial Services Overview Digital disruption, regulatory demands and increased competition are changing the way financial services brands reach out to and engage with their audiences.

More information

B-to-B Lead Generation:

B-to-B Lead Generation: Marketing ROI & Performance Evaluation Study A special report from MarketingProfs, with support from Lenskold Group Copyright 2008. MarketingProfs Research Insights, MarketingProfs, LLC. All rights reserved.

More information

GETTING MORE RAIN FROM YOUR RAINMAKERS WHY INVESTING IN YOUR HIGEST PERFORMING SALES STARS IS THE SMARTER CHOICE FOR GROWING REVENUES

GETTING MORE RAIN FROM YOUR RAINMAKERS WHY INVESTING IN YOUR HIGEST PERFORMING SALES STARS IS THE SMARTER CHOICE FOR GROWING REVENUES GETTING MORE RAIN FROM YOUR RAINMAKERS WHY INVESTING IN YOUR HIGEST PERFORMING SALES STARS IS THE SMARTER CHOICE FOR GROWING REVENUES EXECUTIVE SUMMARY We ve all been there -- your sales team is down one

More information

Banking. the way we see it. Customer Cross-Sell. Using advanced analytics and creating a marketing-it partnership to increase cross-sell penetration

Banking. the way we see it. Customer Cross-Sell. Using advanced analytics and creating a marketing-it partnership to increase cross-sell penetration Banking the way we see it Customer Cross-Sell Using advanced analytics and creating a marketing-it partnership to increase cross-sell penetration Contents 1 Executive Summary 3 2 Current Situation 4 2.1

More information

10 Key Elements for an Effective Onboarding Strategy. Onboarding White Paper 2008. 2008 Harland Clarke Corp.

10 Key Elements for an Effective Onboarding Strategy. Onboarding White Paper 2008. 2008 Harland Clarke Corp. 10 Key Elements for an Effective Onboarding Strategy Onboarding White Paper 2008 2008 Harland Clarke Corp. When it comes to engaging, growing and retaining members, an effective onboarding strategy is

More information

A Customer Data Platform Built For Marketers

A Customer Data Platform Built For Marketers 720 NW Davis Suite 400 Portland,Or 97209 www.getlytics.com 2 A Customer Data Platform Built For Marketers Lytics is a customer data hub that lets you create and share segments across all marketing tools.

More information

The Top 10 Optimization Best Practices for Financial Services

The Top 10 Optimization Best Practices for Financial Services ebook: The Top 10 Optimization Best Practices for Financial Services a publication from Introduction Better Engage and Convert Website Visitors Financial services companies are facing a new challenge:

More information

BETTER RELATIONSHIP SELLING

BETTER RELATIONSHIP SELLING BETTER RELATIONSHIP SELLING A Proven Formula For Acquiring and Developing Relationships with High Value Customers Three actions your company can take today to improve relationship selling performance and

More information

How to Drive. Online Marketing through Web Analytics! Tips for leveraging Web Analytics to achieve the best ROI!

How to Drive. Online Marketing through Web Analytics! Tips for leveraging Web Analytics to achieve the best ROI! How to Drive Online Marketing through Web Analytics! Tips for leveraging Web Analytics to achieve the best ROI! an ebook by - Delhi School Of Internet marketing 84 84 Table of Content Introduction Chapter1:

More information

Multi-channel Marketing

Multi-channel Marketing RIGHT TIME REVENUE OPTIMIZATION How To Get Started RIGHT TIME REVENUE OPTIMIZATION How To Get Started Summary: The Short List Here s our suggested short list from this paper: Multi-channel marketing is

More information

Microsoft Dynamics CRM for Financial Services. Making customers the heart of your business.

Microsoft Dynamics CRM for Financial Services. Making customers the heart of your business. Microsoft Dynamics CRM for Financial Services Making customers the heart of your business. In today s competitive financial services market the focus is the customer making sure the customer is at the

More information

What is multichannel How to Protect communications?

What is multichannel How to Protect communications? August September 2014 What is multichannel How to Protect communications? Your Data Practical Why ideas is it to important help organizations for your business? comply with data protection legislation

More information

Tapping the $7.5 Trillion Mass Affluent Market MARKETING SERVICES

Tapping the $7.5 Trillion Mass Affluent Market MARKETING SERVICES Tapping the $7.5 Trillion Mass Affluent Market MARKETING SERVICES Mass Affluents are growing in their importance to financial institutions. They ve spent a lifetime working to build successful careers.

More information

INTELLIGENT MOBILE MONETIZATION--POWERED BY BIG DATA

INTELLIGENT MOBILE MONETIZATION--POWERED BY BIG DATA INTELLIGENT MOBILE MONETIZATION--POWERED BY BIG DATA Using Predictive Learning to Reach the Right Customers with the Right Mobile App Cohort analysis a Big Data-powered approach for making every ad impression

More information

not another omnichannel customer experience whitepaper data convergence paves the way A RETAIL PRO WHITEPAPER www.retailpro.com

not another omnichannel customer experience whitepaper data convergence paves the way A RETAIL PRO WHITEPAPER www.retailpro.com not another omnichannel customer experience whitepaper data convergence paves the way A RETAIL PRO WHITEPAPER contents 03 not another customer experience whitepaper 04 omnichannel =? 05 omnichannel = customer

More information

Why Marketing Automation is a Must-Have For Every B2B

Why Marketing Automation is a Must-Have For Every B2B Why Marketing Automation is a Must-Have For Every B2B VP of Sales Robert M. Walmsley President and CEO, Tailwind Strategies In the age of Internet marketing there is no salesmarketing alignment issue more

More information

HYBRIS MARKETING AND HYBRIS COMMERCE.

HYBRIS MARKETING AND HYBRIS COMMERCE. hybris Solution Brief HYBRIS MARKETING AND HYBRIS COMMERCE. A Perfect Match for a Personalized Customer Experience. Effective marketing is a critical component for any organization operating on digital

More information

4.5% 2014 Digital Marketing Optimization Survey results > 4.5% Top lessons learned from the leaders

4.5% 2014 Digital Marketing Optimization Survey results > 4.5% Top lessons learned from the leaders 2014 Digital Marketing Optimization Survey results Top lessons learned from the leaders Table of contents 1: Introduction 2: Five lessons from the top 20% #1: They test to make decisions 3: #2: They put

More information

The Three D s of Onboarding Success

The Three D s of Onboarding Success The Three D s of Onboarding Success by Stephen Nikatas, Harland Clarke Senior Marketing Strategist MARKETING SERVICES Let s start with the good news: According to a recent banking survey conducted by Forrester

More information

LEAD NURTURING STRATEGY WHITE PAPER. November 2013

LEAD NURTURING STRATEGY WHITE PAPER. November 2013 LEAD NURTURING STRATEGY WHITE PAPER November 2013 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY 2. INTRODUCTION 3. WHAT IS LEAD NURTURING? 4. OUTLINING AN EFFICIENT LEAD NURTURING STRATEGY 4.1. BUYER PERSONA

More information

Banking. Using collaborative customer knowledge to increase operational efficiency while retaining loyal, profitable customers

Banking. Using collaborative customer knowledge to increase operational efficiency while retaining loyal, profitable customers Banking Using collaborative customer knowledge to increase operational efficiency while retaining loyal, profitable customers In today s challenging global economy, strengthening customer relationships

More information

Sales Mobility for Financial Services INSIGHTS. Softelligence

Sales Mobility for Financial Services INSIGHTS. Softelligence Sales Mobility for Financial Services INSIGHTS TABLE OF CONTENTS Summary Market Trends Mobility Insights Sales Mobility Why? Types of Enterprise Mobile Apps Drivers for Mobile Apps Development Mobility

More information

HOW ISSUERS CAN GET, KEEP, AND GROW THE OMNICHANNEL CUSTOMER

HOW ISSUERS CAN GET, KEEP, AND GROW THE OMNICHANNEL CUSTOMER HOW ISSUERS CAN GET, KEEP, AND GROW THE OMNICHANNEL CUSTOMER New approaches to direct marketing techniques have become a key component of the acquisition and retention mix BY MARGOT VAUGHAN When it comes

More information

New omni-channel sales approach for personalized Customer Experience at a leading Media company

New omni-channel sales approach for personalized Customer Experience at a leading Media company New omni-channel sales approach for personalized Customer Experience at a leading Media company Customer Experience Management with Salesforce.com Prague June 17, 2014 Agenda The New Selling Experience

More information

SmartBanker REDPORT INTERNATIONAL

SmartBanker REDPORT INTERNATIONAL Smart Analytics You Can Bank On The new age of data is transforming business, and financial institutions are grappling with growth and profitability challenges in large part due to the increasingly competitive

More information

How To Integrate Cloud Crm Without A Master Data Management Strategy

How To Integrate Cloud Crm Without A Master Data Management Strategy MDM-Powered Cloud Computing to Boost Sales Leverage Master Data Management(MDM) for operational effectiveness of sale organization Panigrahi, Subhrajyoti (Subbu) 3/1/2011 Table of Contents Building an

More information

How To Be Successful In A Cross Channel Retailing

How To Be Successful In A Cross Channel Retailing Foreword Retail industry is currently going through a once-in-a-generation transformation, primarily driven by more evolved shoppers and technological innovations. This has resulted in a structural shift

More information

How to increase Marketing Efficiency to Gain and Retain Customers

How to increase Marketing Efficiency to Gain and Retain Customers How to increase Marketing Efficiency to Gain and Retain Customers How marketing automation and CRM can help a midsized business consolidate data, improve customer information, streamline marketing efforts,

More information

Table of Contents. Copyright 2011 Synchronous Technologies Inc / GreenRope, All Rights Reserved

Table of Contents. Copyright 2011 Synchronous Technologies Inc / GreenRope, All Rights Reserved Table of Contents Introduction: Gathering Website Intelligence 1 Customize Your System for Your Organization s Needs 2 CRM, Website Analytics and Email Integration 3 Action Checklist: Increase the Effectiveness

More information

Get Your Head in the Cloud

Get Your Head in the Cloud Get Your Head in the Cloud A Comprehensive Guide to SaaS. SaaS for Dummies: A business managers guide to Software as a Service SaaS For Dummies has been written in partnership with Oracle to help you the

More information

LISTEN. ENGAGE. DELIGHT.

LISTEN. ENGAGE. DELIGHT. WWW.WIPRO.COM LISTEN. ENGAGE. DELIGHT. Embark on your Social Enterprise journey with Wipro DO BUSINESS BETTER The Increasing Impact of Social on the Enterprise In today s dynamic world, where people are

More information

Acquire with retention in mind.

Acquire with retention in mind. White Paper A Driver of Long-Term Profitability for Personal Auto Carriers Acquire with retention in mind. Use data and analytics to help identify and attract prospects with the highest potential for long-term

More information

Successful Steps and Simple Ideas to Maximise your Direct Marketing Return On Investment

Successful Steps and Simple Ideas to Maximise your Direct Marketing Return On Investment Successful Steps and Simple Ideas to Maximise your Direct Marketing Return On Investment By German Sacristan, X1 Head of Marketing and Customer Experience, UK and author of The Digital & Direct Marketing

More information

FIVE INDUSTRIES. Where Big Data Is Making a Difference

FIVE INDUSTRIES. Where Big Data Is Making a Difference FIVE INDUSTRIES Where Big Data Is Making a Difference To understand how Big Data can transform businesses, we have to understand its nature. Although there are numerous definitions of Big Data, many will

More information

Financial Services. Market Insights, Drivers & Best Practices

Financial Services. Market Insights, Drivers & Best Practices Financial Services Market Insights, Drivers & Best Practices Purpose This guide provides key insights for digital marketing practitioners and executives working in the Financial Services industry. Those

More information

ANALYTIC KEYS TO SME CROSS-SELL

ANALYTIC KEYS TO SME CROSS-SELL As seen in the ANALYTIC KEYS TO SME CROSS-SELL BY TONY CORETTO By improving data, analytics and multi-channel targeting, banks can digitally identify and pursue opportunities that otherwise could not be

More information

WHITEPAPER. Creating and Deploying Predictive Strategies that Drive Customer Value in Marketing, Sales and Risk

WHITEPAPER. Creating and Deploying Predictive Strategies that Drive Customer Value in Marketing, Sales and Risk WHITEPAPER Creating and Deploying Predictive Strategies that Drive Customer Value in Marketing, Sales and Risk Overview Angoss is helping its clients achieve significant revenue growth and measurable return

More information

Customer Segmentation and Predictive Modeling It s not an either / or decision.

Customer Segmentation and Predictive Modeling It s not an either / or decision. WHITEPAPER SEPTEMBER 2007 Mike McGuirk Vice President, Behavioral Sciences 35 CORPORATE DRIVE, SUITE 100, BURLINGTON, MA 01803 T 781 494 9989 F 781 494 9766 WWW.IKNOWTION.COM PAGE 2 A baseball player would

More information

Running a Successful Referral Program. 9 Best Practices

Running a Successful Referral Program. 9 Best Practices Running a Successful Referral Program 9 Best Practices WHY REFERRAL PROGRAMS ARE A CRITICAL PART OF TODAY S MARKETING MIX. Your company spends time, money and resources executing your marketing and advertising

More information

FOUR EMERGING MEDIA TRENDS B2B MARKETERS CAN T IGNORE. Read this e-book before planning your 2014 media budget

FOUR EMERGING MEDIA TRENDS B2B MARKETERS CAN T IGNORE. Read this e-book before planning your 2014 media budget FOUR EMERGING MEDIA TRENDS B2B MARKETERS CAN T IGNORE Read this e-book before planning your 2014 media budget 1 THIS USED TO BE SO EASY For many enterprise software and services companies that specialize

More information

MARKETING. 2015 Software AG. All rights reserved. For internal use only

MARKETING. 2015 Software AG. All rights reserved. For internal use only MARKETING 2016 2016 2 PARTNER MARKETING 2016 TACTICS SUPPORTED : Event (Sponsorship/ partner-led; industry or solution specific; ) Online Marketing (Banner Ads, SEO, email) Direct Mail Account Based Marketing

More information

Analysis. Marketing Automation: Adding Science to the Art of Marketing. April 2011. Service Area. Business Development Strategies

Analysis. Marketing Automation: Adding Science to the Art of Marketing. April 2011. Service Area. Business Development Strategies Analysis April 2011 Marketing Automation: Adding Science to the Art of Marketing Service Area Business Development Strategies Comments or Questions? Table of Contents Key Highlights... 2 Introduction...

More information

8 TIPS FOR MAKING THE MOST OF GOOGLE ANALYTICS. Brought to you by Geary LSF and Orbital Informatics

8 TIPS FOR MAKING THE MOST OF GOOGLE ANALYTICS. Brought to you by Geary LSF and Orbital Informatics 8 TIPS FOR MAKING THE MOST OF GOOGLE ANALYTICS Brought to you by Geary LSF and Orbital Informatics TABLE OF CONTENTS 3 5 7 8 9 10 11 12 13 14 15 Introduction 8 Tips for Google Analytics Don t let Google

More information

Bringing the personal branch banking experience to the ATM. Putting the retail back into retail banking

Bringing the personal branch banking experience to the ATM. Putting the retail back into retail banking Bringing the personal branch banking experience to the ATM Putting the retail back into retail banking Customer Table of Contents The Retail Banking Customer Environment is Changing 3 Delivering a Best-in-Class

More information

MULT MUL I T CHANNEL CUSTOMER ENGAGEMENT

MULT MUL I T CHANNEL CUSTOMER ENGAGEMENT MULTI-CHANNEL CUSTOMER ENGAGEMENT Agenda What is Multi-Channel Engagement? Definitions of Engagement Merkle s Definition Multi-Channel Engagement g in Our Industry Examples of Engagement Why We Believe

More information

7 STEPS FOR BUILDING A WINNING LEAD NURTURE STRATEGY. Lead Nurture Strategy»

7 STEPS FOR BUILDING A WINNING LEAD NURTURE STRATEGY. Lead Nurture Strategy» 7 STEPS FOR BUILDING A WINNING LEAD NURTURE STRATEGY Lead Nurture Strategy» The leads you collect today aren t necessarily ready to buy immediately. Some of them are, of course, but others may still be

More information