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NM Incite Success Story - Western Union


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Developing a Customer-Centric Model at Western Union

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NM Incite Success Story - Western Union

  1. 1. D EVELOPING A C USTOMER -C ENTRIC M ODEL AT SUCCESS STORY Knowing that a long-term, effective social media strategy required SUMMARY: Western Union is the world leader in global a 360-degree view of their customer base, Western Union payment services. Guided by five core values – integrity, partnered with NM Incite to conduct an intricate, multi-country, partnership, opportunity, passion, teamwork – customer category-level analysis. This would set the stage for a successful centricity is at its core. By offering services through 500,000 social media listening program and highlight areas of opportunity agent locations in 200 countries and territories, as well as online, for value-adding, differentiated social media engagement. Western Union boasts incredible trust and reach. Recognizing the immense opportunity to capitalize and leverage this breadth, Western Union executed a CMO-sponsored partnership with NM APPROACH Incite. Through joint efforts, the research helped them identify NM Incite’s Advisory team instituted a deep, global diagnostic white space areas of opportunity for social media engagement, research initiative. They first employed NM Incite’s proprietary discover key customer segments, and uncover new insights online software solution, My BuzzMetrics (MBM), a highly scalable about customers across global markets to drive deeper, more social insights platform designed for Fortune 1000 marketers and meaningful engagement. their agencies to organize, segment and analyze clean, trusted, industry-specific global data in real time. Data collected by MBM was analyzed across the following dimensions:CALL TO ACTION • Who: Which customer segments are currently identified andA large global institution, Western Union, wanted to find new, more are there opportunities to define new segments?efficient ways to connect with their customers and grow their • hen: What stage are consumers at in the Consumer Wbusiness. Being on the leading edge of customer analytics, they Decision Journey (CDJ)?recognized the opportunity social media offered to drive brandhealth, and in turn, help solidify its global position, expedite growth • Where: Which social media platforms are focused on relevant discussions?of its digital business operations, engage with customers andwould-be-customers and provide outstanding service experience. • What: What topics are most prominent? • hy: What are the most important customer needs, passions WTo align with their focus on customer centricity, Western Union and pain points?determined they needed to establish a long-term, strategic marketresearch plan that would allow them to understand what people S egmenting the B uzz – W ho and W hatdiscuss about their entire category. Also, as a truly global franchise Social listening at the category level can be considered a free-with a commitment to connecting friends and families all over the range, always-on focus group. For Western Union, it’s a focusworld, they demanded global social media research capabilities. group that allows them to gain insight on three primary product“Rather than flood theguns ablaze, categories: money transfer, stored value cards (prepaid) and bill market with payment media campaigns, As a brand that connects people globally, Western Union had the challenge of listening to and truly understanding a diversewe wanted to take a disciplined customer base. To help, NM Incite analyzed global conversationsapproach – that starts with deep, for thematic patterns across all social media platforms, includingsophisticated listening. ”Arun Muthupalaniappan, SVP of Customer Strategy and social networks like Facebook, Twitter and Weibo, as well as over 180 million blogs, forums and boards. All messages posted online about a need pertaining to money were captured and analyzed.Analytics at Western Union Through this analysis, over 20 micro-segments were identified.
  2. 2. NM INCITE SUCCESS STORY WITH WESTERN UNION | DEVELOPING A CUSTOMER-CENTRIC MODELU nderstanding C ustomers – W here , W hen and W hy value through readily sharing quality information and by actively supporting engaged customers.Once Western Union knew who their target customer segmentswere, pre-defined and newly discovered, NM Incite analysts created Finally, the segments were mapped against other key industryprofiles for each segment, developing a heat map. Stage one of players to find out where they were being under-served. Thisthe heat map creation involved identifying discussion volumes helped Western Union evaluate how well their product offeringsand prominent topics for each relevant customer segment, which and marketing content addressed consumers’ unmet needs. Withis mapped across the Customer Decision Journey (Who by When these customer deep-dives, Western Union can now prioritizematrix) (see Figure below). This enabled Western Union to glean where to best converse with key audience groups, and what to say.insight on the key influencing factors that define the customerexperience at different stages in the journey, complementing GOING GLOBALWestern Union’s existing analytics and opening the door for newopportunities to engage consumers at these critical points. For a truly global brand like Western Union, insights at the local level are meaningless unless there is an apples-to-apples abilityFIGURE: HEAT MAP OF OPPORTUNITIES - DECISION JOURNEY to compare insights and analysis across all markets. With different segments emerging all over the globe, Western Union needed a Low activity Average activity High activity means to understand these consumers and address their needs. Initial Active Post With the ability to collect quality data and track discussion in Consideration Evaluation Purchase over 30 markets and multiple languages, NM Incite was uniquely positioned to do to the analysis. Green Segment Purple BUSINESS IMPACT Segment Through this global, category-level social listening initiative, Red Western Union developed a comprehensive understanding of online Segment customer discussions in its industry. And now, social media heat Orange maps focus the company’s ongoing social media listening efforts Segment and help identify areas of opportunity to guide the company’s long- term roadmap for social media programs, including social care.Next, NM Incite focused on analyzing each audience segment forpain points and passions. Deeply understanding pain points isparticularly important when serving the financially under-served,and can often be used as the strategic catalyst for new product or “With insightful maps ofdeep conversations, we have a onlineservice development to satisfy unmet needs. understanding of areas ofNM Incite further characterized the segments by identifying each opportunity, and can now focus ongroup’s propensity to either give advice or ask questions. Segmentswith significant QA activity often signal an opportunity forcompanies to increase loyalty or gain new customers by providing actions that matter. Arun Muthupalaniappan ” About NM Incite Global Fortune 1000 marketers rely on NM Incite solutions to discover emerging, industry-specific consumer insights and build relevant, differentiated and emotionally engaging brands. NM Incite is a joint venture between Nielsen and McKinsey Company, bringing to bear deep expertise in measurement science and management consulting. As one of the largest global leaders in applying social media to solve marketing problems, NM Incite operates in over 30 markets, including the United States, Canada, United Kingdom, Germany, China, India, Japan and Australia.NM INCITE • 770 Broadway, New York, NY 10003855.888.6904 • •