CMO Roundtable Conference8th June, 2011Presented by - IBM & Customer Centria                                        www.cu...
Fuelling InteractiveMarketing ThroughCustomer Analytics               Ashish Singhal               Head – Privilege Bankin...
AgendaChallenges in Customer Communication      The ICICI Bank Solution       Vision and Roadmap
AgendaChallenges in Customer Communication      The ICICI Bank Solution       Vision and Roadmap
Its’ a Fan                               It’s a                                wallIts’ aSpear                            ...
What does the customer need?      Credit Card                                     Discount                                ...
The Marketing Paradox  “The very things        •   Statement stuffers that marketers are       •   Junk mail     doing to ...
Customer Touchpoints      Customer today is value hunting across multiple channels!                    Website         Cal...
Channel Communication                       Confidence among consumers for marketing communications                       ...
Expectations Hype    There is a huge gap between the Customer’s expectations and the actual fulfillment                   ...
AgendaChallenges in Customer Communication      The ICICI Bank Solution       Vision and Roadmap
Marketing as a Bridge                                           With EMMCEO                 CFO       The earlier complain...
Typical Customer View                            Mr Jain                                                      Mr Jain is a...
Need of the hour                                        Alignment!                    Future                    Vision    ...
Customer Experience Management                          Optimization                             Experience         Offer ...
One Integrated Customer View                        Mr Jain                                                               ...
Customer Analytics Framework                       Customer                      Segmentatio                          n   ...
Imagine a full stadium with 70,000 peopleWhich of those people are open to buy NOW ?   Suppose that it is only 0.2%TIMING ...
Latency / Need based Marketing                                                  • While the CSR is still talking/listening...
Channel Innovation – ATM Insufficient Funds  •   EBM Campaign Overview       – Identify customers who are          using A...
Where we want to be…..                Strategic Customer Insight                                                          ...
AgendaChallenges in Customer Communication      The ICICI Bank Solution       Vision and Roadmap
Optimization Process                   Generate,          Best Leads   Frequency,                          Max # Leads    ...
Optimization Effect        OFFERS               CHANNELS             CUSTOMERS                       X                    ...
EBM :Turn the conventional model on its head                                                            Triggers          ...
ICICI Bank: Fueling Interactive Marketing through Analytics
Upcoming SlideShare
Loading in …5
×

ICICI Bank: Fueling Interactive Marketing through Analytics

4,122 views

Published on

The document sheds light on the needs of today's consumers; the marketing paradox and consumer touch points. Communication through various channels.

The document also elaborates on the concept of Marketing as a bridge, Customer Experience Management and the Customer Analytics framework.

Latency, Need based marketing, Channel innovation and the optimization process is also mentioned in the document.

Published in: Business

ICICI Bank: Fueling Interactive Marketing through Analytics

  1. 1. CMO Roundtable Conference8th June, 2011Presented by - IBM & Customer Centria www.customercentria.com
  2. 2. Fuelling InteractiveMarketing ThroughCustomer Analytics Ashish Singhal Head – Privilege Banking ICICI Bank
  3. 3. AgendaChallenges in Customer Communication The ICICI Bank Solution Vision and Roadmap
  4. 4. AgendaChallenges in Customer Communication The ICICI Bank Solution Vision and Roadmap
  5. 5. Its’ a Fan It’s a wallIts’ aSpear Its’ a Rope Its’ a Tree
  6. 6. What does the customer need? Credit Card Discount OffersInsurance Trade Finance Home Loan
  7. 7. The Marketing Paradox “The very things • Statement stuffers that marketers are • Junk mail doing to build • Pop-up ads relationships with • And… customers are often the things that are destroying those relationships.”Harvard Business Review January, 1998
  8. 8. Customer Touchpoints Customer today is value hunting across multiple channels! Website Call CentersPOS Customer Mobile Buying E-Mail
  9. 9. Channel Communication Confidence among consumers for marketing communications across media Title in here 87% Word Of Mouth Newspapers 77% Online Opinions 73% Brand Websites 72% Television 65% Magazines & Radio 64% 41% Search Engine Ads Online Banner Ads, Mobile Ads 29%Source : AC Nielsen
  10. 10. Expectations Hype There is a huge gap between the Customer’s expectations and the actual fulfillment Plan & Sell Identify and communicate with thePlan&Sell right target audience Carry out the actual fulfillmentExecute Analyze Execute SuccessAnalyze Measure the results and determineSuccess success
  11. 11. AgendaChallenges in Customer Communication The ICICI Bank Solution Vision and Roadmap
  12. 12. Marketing as a Bridge With EMMCEO CFO The earlier complaints : - Marketing not aligned with CFO concerns - Not tracking the right metrics - Not Playing a role in critical strategy Now : - More closely aligned with Cash flow drivers - Tactical as well as Strategic function Speak the language of finance Title in here
  13. 13. Typical Customer View Mr Jain Mr Jain is an attractive target Married, 2 children,Marketing for home loans Marketing Joint family Mr Jain No problem of re-payment is a good customerCollections Collections of 2-wheeler loan Mr Jain is a hot lead Call Mr.Jain called up thrice last for a personal loan Call Center Month for loan against home Center Mr.Jain may be moving Mr.Jain’s 2-wheeler is co. On to a new job Risk Financed and there is a Risk Fore-closure request Is Mr Jain a potential customer? Is he safe?
  14. 14. Need of the hour Alignment! Future Vision Historical Strategy Performance
  15. 15. Customer Experience Management Optimization Experience Offer Management Service Management Management Response Management Age of Consumerism!!!
  16. 16. One Integrated Customer View Mr Jain Event Treatment Marketing Married, 2 children,Marketing Joint family Mr.Jain has possibly Married, 2 children, lost/changed his Collections No problem of re-payment Joint family, No job and we needCollections of 2-wheeler loan Problem on repayment to validate his Of 2 wheeler loan. employment Enquiring for loan Mr.Jain called up thrice last status and credit Call Against home and Call Month for loan against home worthiness before Center There is a foreclosure Center proceeding with Request on 2 wheeler Loan. any new business Mr.Jain’s 2-wheeler is co. with him. Risk Financed and there is a Risk Fore-closure request Financial Department Consolidation Closed Loop Learning
  17. 17. Customer Analytics Framework Customer Segmentatio n PropensitResponse y Models Capture Customer Analytics Single Use of Customer EMM Tool View
  18. 18. Imagine a full stadium with 70,000 peopleWhich of those people are open to buy NOW ? Suppose that it is only 0.2%TIMING RELEVANCE SPEED (which means 140) Who are those 140 people? (timing) What do they want to buy? (relevance) How much time do you have left to sell? (speed)
  19. 19. Latency / Need based Marketing • While the CSR is still talking/listening to the customer • While the customer is still using the ATM • While the web page is still in front of the Business event customer • Speed of Response = Higher Revenue Data latency Data captured Value Analysis Intelligence delivered latency Decision Action latency taken Point-of-Sale Call Center Action timeSource: Bolder Technology
  20. 20. Channel Innovation – ATM Insufficient Funds • EBM Campaign Overview – Identify customers who are using ATM for cash • Success Criteria withdrawals but having insufficient funds in their – Customer Accepting PL savings accounts • Benefit – These customers will have be offered personal loan to manage and plan their finance – Customer can enjoy different pricing according to their Low High behavior score Customer Need Low High – Higher cross sell ratio Potential ROI Low High • Offer Strategic Value – ICICI bank will offer a personal Ease of Execution Harder P Easier loan to the customer Longer Quicker Time Sensitivity • Preferred Channels Harder Easier – Outbound calling - PL Measured Easily Longer Quicker – DM & SMS – PL Measured Quickly
  21. 21. Where we want to be….. Strategic Customer Insight Seamless Execution Channels SegmentsSource Data Leads/ Offers Reports & Analytics Enterprise Data Web Loans Warehouse Purchase Profitability Segmentation Modeling Call Social Center Butterfly Cross Sell Multi-Channel Campaign Automation Email Liabilities Campaigns Mailer Query Campaign Campaign Design Automation High Flyers Investment Agent or s Account Event-Driven Marketing Manager Credit Real Time Enterprise Cards Events Rules SMS Traditionalists Responses
  22. 22. AgendaChallenges in Customer Communication The ICICI Bank Solution Vision and Roadmap
  23. 23. Optimization Process Generate, Best Leads Frequency, Max # Leads Process Deliver to Prioritize, and Across Recency, & Per Cycle By Channel Channel Dedup Leads Communications Preference Total Comm Marketing Priority #1 High ValueCommunications Call Center Customers Call Centre Execute Channel Rule Priority #2 Database Channel Capacity = 6 Low Value Priority #3 Customers Email Priority #4 Electronic Channels Database Segment Channel Responses Plans Prioritize Dedup Across Max # Channel W/Comm Comm Limiting Leads Capacity Unrealized Opportunities Data Warehouse
  24. 24. Optimization Effect OFFERS CHANNELS CUSTOMERS X X Optimising Contacts “Thousands” “Multiples” “Millions” CONSTRAINTS Product Targets Channel Capacity Customer Fatigue Product Budgets Min mail Volume PreferencesOptimisation mathematically determines…..The Best Offer & The Best Channel to Maximise the ROI of all campaigns
  25. 25. EBM :Turn the conventional model on its head Triggers Simplistic Transactional Changes involving update of Single Field High INR 50 K Deposit Secondary Events Business Value Triggers coupled with additional rules to determine significance to the individual Significant Deposit, Deposit is 2* average Patterns Patterns Secondary Events Combination of multiple triggers & Secondary events occurring in Low Triggers sequence over a period of time Change in Employment. Simple Complex INR 50K was redundancy, Salary Event Complexity stopped. Regular payments received from new employer 4 weeks later

×