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Mad Men or Math Men - @timsuther presentation, #cxp11
 

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The vision of advertising driven by savvy “experts” and their big ideas appears as a romantic memory. Increased consumer expectations, forged in yesterday’s mass media world, eclipse the ...

The vision of advertising driven by savvy “experts” and their big ideas appears as a romantic memory. Increased consumer expectations, forged in yesterday’s mass media world, eclipse the capacity to artfully deliver results. The digitally connected world we find ourselves in brings new media, communications channels, and technology . . . to embrace, not to fear.

Join this engaging conversation to examine how trends in consumer expectations are increasingly matched to trends in media and technology innovation. Culminating in a case study presented by Nick Primola, SVP Citizens Bank, we examine how mathematics and technology are leveraged to define situational success as customers experience the brand, rather than situation comedy.

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Mad Men or Math Men - @timsuther presentation, #cxp11 Presentation Transcript

  • 1. MAD MEN OR MATH MENredefining CUSTOMER EXPERIENCE IN a connected worldTim SutherChief Marketing Officer, ACXIOMFORRESTER CUSTOMER EXPERIENCE FORUM JUNE 2011 ®
  • 2. CONSUMERS ARE BOSSChoosing when, where, how and if they engage with your brand 687M 500B Facebook users 1 C2C conversations/yr 2 253M 45B Twitter unique visitors 3 Indexed Web pages 4 5.3B 14B Mobile handsets/tablets 5 Mobile apps downloaded 6Sources – 1 Mary Meeker, KPBC, Feb 2011 – 2 Forrester 2010 – 3 Mary Meeker, KPBC, Feb 2011 – 4 worldwidewebsize.com – 5 mobiThinking, June 2011 – 6 mobiThinking, June 2011 2
  • 3. THE END IS NEAR NEAR…For mad men $112 billion advertising wastedSources – What Sticks 3
  • 4. THE END IS NEAR NEAR…For mad men -21% NPS 21% 4
  • 5. THE END IS NEAR NEAR…For mad men 27% feel more valued 44% had negative experienceSources – Wakefield Research / ACI Worldwide 5
  • 6. THE END IS NEAR NEAR…For mad men Most commonly associated word with advertising advertising…. FALSESources – Nielsen 6
  • 7. MANY ARE DELUSIONALSources – Accenture
  • 8. MANY ARE DELUSIONAL Just 8 % of their customers agree gSource ‐ Bain
  • 9. MANY LACK PROPER INSIGHT & FOCUS2Forrester Research
  • 10. THE RISE OF MATH MEN What capabilities are needed?15-30% improvement opportunity f most companies % for 10
  • 11. THE RISE OF MATH MENSample results3.5x3 5x improved acquisition performance2x website conversion$4 5 4.5 million/yr illi / call center savings10% revenue increase
  • 12. THE RISE OF MATH MENTakeaways for a connected world Your insight…EVERYWHERE. BEWARE false signals. signals “PIL” EXPERIENCES personalized personalized, integrated & longitudinal. 4 INTERRELATED CAPABILITIES drive high performance performance. 12
  • 13. THE RISE OF MATH MENThe right customer experience strategy Nick Primola Senior Vice President, Director of Direct Marketing at Citizens Financial Group 13
  • 14. About Citizens Financial Group• Operate as Citizens Bank and Charter One Bank• Owned by Royal Bank of Scotland Group• 1,480 branches• 30 acquisitions in 20 years• 23,000 employees• 12 state retail footprint 14
  • 15. Direct marketing contribution Direct Marketing Sales 15
  • 16. CRM Architecture Source: Bankingtechnologies.org 16
  • 17. Data Towers 17
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  • 28. Good Banking is Good Citizenship 28
  • 29. Good Banking is Good Citizenship g p 29
  • 30. Transaction-Focus: Product-Centric View 30
  • 31. Good Banking is Good Citizenship g p 31
  • 32. Our Value Proposition is Customer-Centric Marketing must deliver on this promise. g p Transparent and relevant dialog I trust the Bank Insight-driven personalized The Bank The The Bank puts Engage in channel ofcommunications knows me Customer me in control their choice The Bank values me Demonstrates knowledge of the relationship in every contact f th l ti hi i t t 32
  • 33. Insight-driven personalized The Bank TheThe Bank knows mecommunications knows me Customer 33
  • 34. Moving WeddingCollege Retirement R i 34
  • 35. Basic Value Segmentation Migrate to “Primary” Top Growth Relationships Opportunity tential ValuePot e Contact Focus on Opportunistically Retention CurrentValue 35
  • 36. Attitudinal View (Segmentation) Need for help from others Uncertain Segment 4 Segment 5 Accomplished XYZ’s XYZ Segment need Anxious segment My segment Segment Segment need needYesterday Tomorrow Segment Hopeful Next need segment segment Ambitious Experts Segment need Segment 12 Cautious Segment g Conservative Segment need S t d Don’t D ’t want h l t help 36
  • 37. Customer Transaction Data 37
  • 38. Response Models forBanking Needs Categories 38
  • 39. CustomerExperience 39
  • 40. Good Banking is Good Citizenship g p 40
  • 41. What’s ahead? 41
  • 42. Our view of the customer continues to become more clear Data repositories in silos “Technically” a complete Data-alignment across view of the customer. delivery points All data points are there, A whole view but not very A clear view that is actionable but not the connections. clear, may be inaccurate. 42 Images from ASU’s “Ask a Biologist” website: Insect vision
  • 43. Stakeholder alignment is keyEven when all stakeholdersare aligned toward one goalit sit’s still an incrediblycomplicated effort. Remember each piece is uniquely aligned to another 43
  • 44. Continue toevolve ability topredict behavior 44
  • 45. In SummaryGet to know what’s inside your black box: Wherecan you listen for a need and respond with asolution? l ti ?Demonstrate “Know Me”: Use your data to make yeach interaction relevant.Leverage your brand: Align data, systems andtechnology with your brand’s values 45
  • 46. Questions? 46