1. Rich Jones, Principle
Leading2Leadership LLC
720.256.4936, rich0747@comcast.net
@rich0747
Making Data Actionable

2. www.youtube.com/watch?v=449twsMTrJI&feature=youtu.be

3. Data is too important to be left to
bean counters and report writers

4. Data needs to answer business
questions with actionable information

5. So, what’s getting in your way?

6. Customer Perception?
6

7. Lack of software/resources?

8. Lack of Skill, Money, or Time?

9. Where do I start?

10. It Starts With a Strategy

11. Big Data Strategy
1. To provide the data, data integrity and data awareness, the
reporting and analysis expertise and the tools and services
to allow the bank or credit union to become a data driven
organization for strategic, financial and operational planning
a) Create marketing efficiencies by target product and service offerings
b) Use data to discover organizational efficiencies
c) Change decisions from “I think” to “I know”
2. To win, we need to excel at
a) Data Access
b) Data Mining
c) Data Analysis
d) Data Visualization

12. Data sources
Data you don’t have
Aggregate data
Set definitions
Choose the
tool/software
Determine the budget
and staffing model
BIG DATA “To Do” List

13. Set Milestones
• Data Strategy organizational
buy-in
• Create definitions
• Evaluate Data gathering, storing
and mining tools and resources
• Identify tool and resource gaps
• Plan to fill gaps
• Establish utilization and
reporting elements

14. Data Sources
*Unstructured
• Core
• Online and Mobile banking
platforms
• MCIF/CRM
• Loan Originations
• Credit Bureaus
• PFM
• Credit Cards
• Social Media*
• Customer feedback loops*
(Some data you hold, some is
held by 3rd parties)

15. Set Definitions
• Customer
• Household
• Core Deposit
• Term Deposit
• Consumer Loan /
Mortgage loan
• Active Customer /
Active Account
• Inactive customer /
Inactive Account
• New Customer

16. Start NOW with Core Data
• monthly ACH deposit to another FI
• monthly bill payment via providers
website
• automatic loan payment to another FI
• with no checking
• With no debit card
• with inactive checking/debit
• without a credit card with you
• with A credit and low deposit balances
• with high deposit balance and no loans
• without mortgages with you
• with one auto loan
• with $10K of deposit balances

17. Our Job is to put a Face to Data

18. Opportunity Analysis
80%
20%
Deposit Opportunity
Current Household Deposits Current Household Deposit Opportunity
41%
59%
Loan Opportunity
Current Household Loans Current Household Loan Opportunity
Total Employees 400
Household Per Employee 40.75%
Total Members 279
Total Households 163
Deposit Information Loan Information
Current Household Deposits $ 5,188,468.00 Current Household Loans $ 2,746,984.00
Deposits per Current Household $ 31,831.09 Loans per Current Household $ 16,852.66
Total Employee Deposit Opportunity $ 10,811,532.00 Total Employee Loan Opportunity $ 13,653,016.00
Current Household Deposit Opportunity $ 1,331,532.00 Current Household Loan Opportunity $ 3,936,016.00
Remaining to Maturity (27% Share of Wallet) $ 359,513.64 Remaining to Maturity (34% Share of Wallet) $ 1,338,245.44
% HSA Households 1.23% % Loan Households 68.71%

19. Marketing and Data Use

20. Avoid Vanity Metrics
• These “vanity metrics” include
– Total page views
– Twitter followers
– Likes
– Visits
• The strongest marketers are the ones who collect actionable data.

21. Ask the “So What Question”
• To be more actionable
with your analytics, start
with the “so what?”
question.
– For example, click-through
and blog views are nice to
have, but do they impact
revenue?
• When you frame your
decisions through the “so
what?” question, you’re
beginning to dig deeper
into analytics.

22. 5 ways to make the most out of
marketing analytics

23. 1. Stop relying on gut instincts
• 40% of marketers say that they use intuition to make decisions.
• Way too many businesses are just gambling on their marketing
plans.
• Bad guesses waste your time and resources.
• Since these marketers probably don’t measure the outcomes of
their decisions, they are also likely to repeat past mistakes.

24. 2. Don’t be a lukewarm user
• ~50% of marketers believe
that their most under-
utilized asset is their data.
• Do your homework.
• walk you through the basics
of conversion goals, and
traffic channels.
• It takes more effort to set
up individual campaign
tracking, it’s worth it when
your actionable data starts
pouring in.

25. 3. Focus on what members are doing
• Better understand your customer
behavior
• Track customer paths
• Run behavior reports to figure
out what people are doing on
your channels.
• Evaluate drop-off points.
• A/B testing is critical
• A low 24% of marketers create
and test hypotheses.
• Marketers are missing the
opportunity to collect real data
and improve the customers’
experiences.

26. 4. Be consistent with analysis
• When marketing departments are busy, complex analysis can become
a lower priority.
• That’s why only 37 percent of marketers use analytics on a regular
basis.
• Analyze your past data
• Make smart predictions about future campaigns.
• Using analytics to improve marketing campaigns can save time—and
increase revenue.

27. 5. Assign real dollar values
• 1/3 of marketers track ROI on their campaigns.
• Dollars and revenue need more of your focus.
• Don’t spend all your time on numbers, focus on dollars.
• Work with your CFO or VP Finance help you calculate the actual
value of your marketing efforts.
• When you calculate values for customer actions, you can calculate
ROI.
• This makes it much easier to prove the success of your

28. Actionable Data Leads to Better Marketing
• When you are collecting actionable data, you can
make better marketing decisions.

29. Gather Data
• Identify you data
sources
• Build or buy a place to
store this data
(MCIF/data
warehouse/CRM)
• Prioritize what data to
collect first
– Priorities should align
with your FIs KPIs and
Strategies

30. Organize Data
• Store data in identifiable
segments (transaction data,
balance data, process
data…)
• Knowing what data resides
where allows you to access
it in the future
• Organize for tracking and
trending
– Use KPIs
– Use Strategic goals
– Use Key Ratios

31. Identify Relevant Data
• Always start with a
question you want the
data to answer then
isolate, track and trend
that data
• There is too much data
and not all of it is
relevant all the time
• Identify which data will
provide the answer to
your questions

32. Use Data to Create Efficiencies
From
• Blast Marketing >>>>>>>>>>>>>>
• One size fits all >>>>>>>>>>>>>>
• We did good >>>>>>>>>>>>>>>>
• We got a lot of new business >>>
• We grew balances >>>>>>>>>>>>
• Assuming everyone wants
everything >>>>>>>>>>>>>>>>>>
• Not knowing the customer >>>>>
To
• Segmented Marketing
• One size fits you
• We had X return
• We opened X new accounts
• We grew balances by $X
• Your customer is looking for
this one thing
• Knowing the customer

33. How?
• Create smart targets
• Create lists from these targets
• Create a campaign goal
• Store this list info with historical markers
• Add the average per unit/balance profit for this
offer (work with finance to determine)
• Append this list for activity/changes
• Build a report to demonstrate this activity
• Store this activity for future use/forecasting

34. Create a Target Lists
• Monthly ACH deposit to another FI
• Monthly bill payment via providers
website
• Automatic loan payment to another
FI
• No checking
• No debit card
• Inactive checking/debit
• No credit card with you
• A credit and low deposit balances
• High deposit balance and no loans
• No mortgages with you
• One auto loan
• $10K+ of deposit balances

35. Create a Marketing List
• Remove from the list
– In collections
– Sub-par members (CUs)
– Underage customers
– Do not market

36. Create Campaign Goal
• By units
• By balance
• By utilization
• Goal should match
what the campaign is
trying to accomplish

37. Store these Lists Under Unique Names
• Excel spreadsheet
• Data warehouse
• MCIF
• CRM
• Be sure to include
historical markers based
upon the goal

38. Add Product/Balance Profit
• ROI or MROI (pros/cons)
• Work with Finance
• Average 1st year profit by:
– Unit – per auto loan
– Balance – per $1000
– Customer
– Household
• Add this profit estimate to
the tracking report

39. Append this List
• Same definitions
• Same data source
• Add appended data to
original list with
historical markets
• Append weekly/ bi-
monthly/monthly/…

40. Track, Trending, Reporting
• Build a report
• Compare historical marker
to current
• Present graphically
(visualize the data)
• Tell the story – keep it
pithy…

41. Store for Future Reference
• Improves your goal setting
• Helps with forecasting
• Helps with budgeting

42. Three must measurements
• Engagement
• Lead Generation
• Utilization

43. Engagement
• Products per customer
• Products per household
• Balances per customer
• Balances per household

44. Lead Generation
• Inbound Marketing
• Social Media
• Branch traffic
• MCIF/CRM
• eMail/Direct Mail
• Outdoor
• Events
• Content Marketing
• New customer marketing lists
• SEG/Business Partner
employees

45. Utilization
• This metric is the one that matters the most to your C-suite.
• Did your marketing compel people to come in for an appointment or
attend an event?
• Did you marketing result in product adoption and balance growth?
• Match the marketing group to those who actually walked through
your doors—and give you a direct ROI/MROI on your effort.

46. Tweak and Start Over
Data quickly becomes addictive
Data will temper the “gut”
and mitigate the “I think(s)”

47. "Information is the oil of the 21st
century, and analytics is the
combustion engine.“
Peter Sondergaard, SVP Gartner Research
Rich Jones
rich0747@comcast.net
Leading2Leadership LLC
720.256.4936 mobile
@rich0747 Twitter
LinkedIn.com/in/rich0747