Gaining Buy-In for Preference Management – Leading Companies Show the Way<br />Guest Presenters:<br />Hosted By:<br />
Agenda<br />Overcoming the Barriers to Preference Management<br />Dave Frankland, Principal Analyst, Forrester Research	  ...
Speakers<br />3<br />Dave Frankland <br />Principal Analyst <br />Forrester Research	<br />Jamie LaRose<br />VP, Digital M...
Agenda<br />What is preference management?<br />What are the barriers to preference management?<br />How can you overcome ...
Methodology<br />Forrester has written extensively about communications preference management and contact strategies.<br />
Methodology<br />Forrester has written extensively about communications preference management and contact strategies.<br /...
Methodology<br />Forrester has written extensively about communications preference management and contact strategies.<br /...
Understanding Preference Management<br />
July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />Consumers say that marketing is irrelevant<br />
Consumers say that marketing is irrelevant<br />July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />
July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />They are overwhelmed<br />
They are overwhelmed<br />July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />
July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />They want to control how companies communicate wit...
July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />They want to control how companies communicate wit...
Enter preference management<br />Preference management relates to how firms capture, and honor, what, when, and how they c...
Enter preference management<br />Preference management relates to how firms capture, and honor, what, when, and how they c...
Companies are most likely to capture preferred medium and content type<br />Base: 118 Marketing decision makers<br />Multi...
And, many use preference to determine how to communicate<br />Base: 150 Marketing decision makers<br />Multiple responses ...
Those that measure the impact, report positive results<br />Base: 45 Marketing decision makers<br />Multiple responses acc...
Laggards<br /><ul><li>Unlikely to use customer communication preferences
Only updates customer contact info when customer requests a change
Don’t proactively contact customers to update communications preferences</li></ul>Not everyone is at the same level<br />S...
Strivers<br /><ul><li>Capture and use customer communication preferences
Capture preferred medium and type of content
Contact customers to update preferences infrequently
Unlikely to measure impact of applying customer preferences</li></ul>Laggards<br /><ul><li>Unlikely to use customer commun...
Only updates customer contact info when customer requests a change
Don’t proactively contact customers to update communications preferences</li></ul>Not everyone is at the same level<br />S...
Leaders<br /><ul><li>Capture and use customer communication preferences
Likely to capture multiple customer-defined combinations of content, medium, and frequency
Frequently contact customers to update their communications preferences
Preferences are a primary factor in communications
Measure the impact of applying customer preferences</li></ul>Strivers<br /><ul><li>Capture and use customer communication ...
Capture preferred medium and type of content
Contact customers to update preferences infrequently
Unlikely to measure impact of applying customer preferences</li></ul>Laggards<br /><ul><li>Unlikely to use customer commun...
Only updates customer contact info when customer requests a change
Don’t proactively contact customers to update communications preferences</li></ul>Not everyone is at the same level<br />S...
Leaders<br /><ul><li>Capture and use customer communication preferences
Likely to capture multiple customer-defined combinations of content, medium, and frequency
Frequently contact customers to update their communications preferences
Preferences are a primary factor in communications
Measure the impact of applying customer preferences</li></ul>Strivers<br /><ul><li>Capture and use customer communication ...
Capture preferred medium and type of content
Contact customers to update preferences infrequently
Unlikely to measure impact of applying customer preferences</li></ul>Laggards<br /><ul><li>Unlikely to use customer commun...
Only updates customer contact info when customer requests a change
Don’t proactively contact customers to update communications preferences</li></ul>Not everyone is at the same level<br />3...
Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference managemen...
Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference managemen...
Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference managemen...
Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference managemen...
Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference managemen...
Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference managemen...
Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference managemen...
Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference managemen...
Barriers to preference management<br />
Most firms struggle to implement preference management<br />We often find that firms:<br />Fail to make the business case ...
Challenges in making the case<br />Firms struggle to make a business case for establishing preference management<br />Fail...
Challenges in making the case<br />Firms struggle to make a business case for establishing preference management<br />Fail...
“I preach that preference management is all about customer experience, but people listen when it’s about not being fined.”...
Most firms struggle to implement preference management<br />We often find that firms:<br />Fail to make the business case ...
Organizational alignment<br />Preference management must incorporate:<br />Functions<br />Marketing, customer service, sal...
Organizational alignment<br />Preference management must incorporate:<br />Functions<br />Marketing, customer service, sal...
Organizational alignment<br />Preference management must incorporate:<br />Functions<br />Marketing, customer service, sal...
“Trying to get everyone on the same page internally is like herding cats. No business group wants to be told that they can...
Most firms struggle to implement preference management<br />We often find that firms:<br />Fail to make the business case ...
Relinquishing control<br />Establishing a preference management program gives consumers control, and they might say “no”<b...
Relinquishing control<br />Establishing a preference management program gives consumers control, and they might say “no”<b...
Relinquishing control<br />Establishing a preference management program gives consumers control, and they might say “no”<b...
“The biggest barrier to establishing a preference management program is the natural conflict between respecting consumer w...
Most firms struggle to implement preference management<br />We often find that firms:<br />Fail to make the business case ...
Technical challenges<br />Customer data often sits in disparate systems throughout an organization <br />Often leading to ...
Technical challenges<br />Customer data often sits in disparate systems throughout an organization. <br />Often leading to...
Technical challenges<br />Customer data often sits in disparate systems throughout an organization. <br />Often leading to...
“The limited preference options that we provide are captured in disparate systems and through disparate processes that req...
Overcoming the barriers<br />
Overcoming the barriers<br />Start by defining the goal<br />
Start by defining the goal<br />Focus on establishing a preference management framework<br />Framework must balance custom...
Start by defining the goal<br />Focus on establishing a preference management framework<br />Framework must balance custom...
“One of our early challenges was creating a framework for each of our business lines to understand preference in the same ...
Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />
Audit your current communications approach<br />Map the frequency/volume of communications<br />Per contact<br />Per chann...
Audit your current communications approach<br />Map the frequency/volume of communications<br />Per contact<br />Per chann...
“We audited our email newsletter program and discovered that there were more than one million customers to whom we were se...
Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />Create ownership<br />
Create a governance council<br />Whether or not there is a formal preference management “owner”, a governance council:<br ...
Create a governance council<br />Whether or not there is a formal preference management “owner”, a governance council:<br ...
Create a governance council<br />Whether or not there is a formal preference management “owner”, a governance council:<br ...
Create a governance council<br />Whether or not there is a formal preference management “owner”, a governance council:<br ...
Create a governance council<br />Whether or not there is a formal preference management “owner”, a governance council:<br ...
“A group of concerned employees organically emerged from different businesses and roles. As we began to convene, we recogn...
Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />Create ownership<br />Recognize the ...
Culture<br />Tie preference management to initiatives relating to customer-centricity, experience, and/or satisfaction<br ...
Culture<br />Tie preference management to initiatives relating to customer-centricity, experience, and/or satisfaction<br ...
“When we were thinking about communications preferences, we looked as ourselves as individuals – without our corporate hat...
Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />Create ownership<br />Recognize the ...
Take deliberate [baby] steps<br />Focus on what you can control<br />
Take deliberate [baby] steps<br />Focus on what you can control<br />Validate planning assumptions and process<br />
Take deliberate [baby] steps<br />Focus on what you can control<br />Validate planning assumptions and process<br />Measur...
Take deliberate [baby] steps<br />Focus on what you can control<br />Validate planning assumptions and process<br />Measur...
“We started with alerts related to products like payments and fraud triggers, but they were not true preferences. <br />Ho...
Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />Create ownership<br />Recognize the ...
Make the case<br />Most leading firms lack a financial justification<br />They describe it as the right thing to do<br />
Make the case<br />Most leading firms lack a financial justification<br />They describe it as the right thing to do<br />O...
Make the case<br />Most leading firms lack a financial justification<br />They describe it as the right thing to do<br />O...
“We don’t have a financial justification, it’s all about customer satisfaction.<br />We plan on tying the benefits back to...
Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />Create ownership<br />Recognize the ...
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Gaining Buy-In for Preference Management - Leading Companies Show the Way

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SoundBite Communications and Forrester Research, Inc. share examples of how top companies are creating and implementing preference management solutions.

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Gaining Buy-In for Preference Management - Leading Companies Show the Way

  1. 1. Gaining Buy-In for Preference Management – Leading Companies Show the Way<br />Guest Presenters:<br />Hosted By:<br />
  2. 2. Agenda<br />Overcoming the Barriers to Preference Management<br />Dave Frankland, Principal Analyst, Forrester Research        <br />Building the Case for a Centralized Preference Management Solution <br />Jamie LaRose, VP, Digital Marketing, Bank of America, Enterprise Email & Mobile Marketing<br />Breaking Through the Noise with Preference Management<br />Debbie Braunert, VP, Solutions and Product Marketing, SoundBite Communications <br />Q&A<br />2<br />
  3. 3. Speakers<br />3<br />Dave Frankland <br />Principal Analyst <br />Forrester Research <br />Jamie LaRose<br />VP, Digital Marketing<br />Bank of America, Enterprise Email & Mobile Marketing<br />Debbie Braunert<br />VP, Solutions and Product Marketing<br />SoundBite Communications <br />
  4. 4.
  5. 5. Agenda<br />What is preference management?<br />What are the barriers to preference management?<br />How can you overcome these barriers?<br />
  6. 6. Methodology<br />Forrester has written extensively about communications preference management and contact strategies.<br />
  7. 7. Methodology<br />Forrester has written extensively about communications preference management and contact strategies.<br />In Q1 2009, SoundBite commissioned Forrester to survey 150 marketers, customer care professionals, and others responsible for customer communication about their approach to preference management.<br />
  8. 8. Methodology<br />Forrester has written extensively about communications preference management and contact strategies.<br />In Q1 2009, SoundBite commissioned Forrester to survey 150 marketers, customer care professionals, and others responsible for customer communication about their approach to preference management.<br />In Q2 2010, SoundBite commissioned Forrester to conduct in-depth interviews with 15 champions of their firm’s preference management programs to learn more about the success and challenges of their program.<br />
  9. 9. Understanding Preference Management<br />
  10. 10. July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />Consumers say that marketing is irrelevant<br />
  11. 11. Consumers say that marketing is irrelevant<br />July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />
  12. 12. July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />They are overwhelmed<br />
  13. 13. They are overwhelmed<br />July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />
  14. 14. July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />They want to control how companies communicate with them<br />
  15. 15. July 2009 “Marketers: Stop The Abuse! Adopt Preference Management”<br />They want to control how companies communicate with them<br />
  16. 16. Enter preference management<br />Preference management relates to how firms capture, and honor, what, when, and how they communicate with recipients - usually customers or prospects<br />
  17. 17. Enter preference management<br />Preference management relates to how firms capture, and honor, what, when, and how they communicate with recipients - usually customers or prospects<br />Preference management<br />Includes, and goes beyond, opt-out/opt-in and observed behavior to focus on preference<br />May relate to content, volume, medium/channel, and/or a combination of these<br />
  18. 18. Companies are most likely to capture preferred medium and content type<br />Base: 118 Marketing decision makers<br />Multiple responses accepted<br />Source: “Managing Customer Communication Preferences”, a commissioned study conducted by Forrester Consulting on behalf of SoundBite, April, 2009<br />
  19. 19. And, many use preference to determine how to communicate<br />Base: 150 Marketing decision makers<br />Multiple responses accepted<br />Source: “Managing Customer Communication Preferences”, a commissioned study conducted by Forrester Consulting on behalf of SoundBite, April, 2009<br />
  20. 20. Those that measure the impact, report positive results<br />Base: 45 Marketing decision makers<br />Multiple responses accepted<br />Source: “Managing Customer Communication Preferences”, a commissioned study conducted by Forrester Consulting on behalf of SoundBite, April, 2009<br />
  21. 21. Laggards<br /><ul><li>Unlikely to use customer communication preferences
  22. 22. Only updates customer contact info when customer requests a change
  23. 23. Don’t proactively contact customers to update communications preferences</li></ul>Not everyone is at the same level<br />Source: “Managing Customer Communication Preferences”, a commissioned study conducted by Forrester Consulting on behalf of SoundBite, April, 2009<br />
  24. 24. Strivers<br /><ul><li>Capture and use customer communication preferences
  25. 25. Capture preferred medium and type of content
  26. 26. Contact customers to update preferences infrequently
  27. 27. Unlikely to measure impact of applying customer preferences</li></ul>Laggards<br /><ul><li>Unlikely to use customer communication preferences
  28. 28. Only updates customer contact info when customer requests a change
  29. 29. Don’t proactively contact customers to update communications preferences</li></ul>Not everyone is at the same level<br />Source: “Managing Customer Communication Preferences”, a commissioned study conducted by Forrester Consulting on behalf of SoundBite, April, 2009<br />
  30. 30. Leaders<br /><ul><li>Capture and use customer communication preferences
  31. 31. Likely to capture multiple customer-defined combinations of content, medium, and frequency
  32. 32. Frequently contact customers to update their communications preferences
  33. 33. Preferences are a primary factor in communications
  34. 34. Measure the impact of applying customer preferences</li></ul>Strivers<br /><ul><li>Capture and use customer communication preferences
  35. 35. Capture preferred medium and type of content
  36. 36. Contact customers to update preferences infrequently
  37. 37. Unlikely to measure impact of applying customer preferences</li></ul>Laggards<br /><ul><li>Unlikely to use customer communication preferences
  38. 38. Only updates customer contact info when customer requests a change
  39. 39. Don’t proactively contact customers to update communications preferences</li></ul>Not everyone is at the same level<br />Source: “Managing Customer Communication Preferences”, a commissioned study conducted by Forrester Consulting on behalf of SoundBite, April, 2009<br />
  40. 40. Leaders<br /><ul><li>Capture and use customer communication preferences
  41. 41. Likely to capture multiple customer-defined combinations of content, medium, and frequency
  42. 42. Frequently contact customers to update their communications preferences
  43. 43. Preferences are a primary factor in communications
  44. 44. Measure the impact of applying customer preferences</li></ul>Strivers<br /><ul><li>Capture and use customer communication preferences
  45. 45. Capture preferred medium and type of content
  46. 46. Contact customers to update preferences infrequently
  47. 47. Unlikely to measure impact of applying customer preferences</li></ul>Laggards<br /><ul><li>Unlikely to use customer communication preferences
  48. 48. Only updates customer contact info when customer requests a change
  49. 49. Don’t proactively contact customers to update communications preferences</li></ul>Not everyone is at the same level<br />37%<br />21%<br />43%<br />Source: “Managing Customer Communication Preferences”, a commissioned study conducted by Forrester Consulting on behalf of SoundBite, April, 2009<br />Note: Percentages do not total 100 due to rounding.<br />
  50. 50. Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference management makes intuitive sense. Why? Preference Management:<br />
  51. 51. Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference management makes intuitive sense. Why? Preference Management:<br />Puts consumers in control<br />
  52. 52. Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference management makes intuitive sense. Why? Preference Management:<br />Puts consumers in control<br />Improves the customer experience<br />
  53. 53. Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference management makes intuitive sense. Why? Preference Management:<br />Puts consumers in control<br />Improves the customer experience<br />Enhances customer satisfaction<br />
  54. 54. Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference management makes intuitive sense. Why? Preference Management:<br />Puts consumers in control<br />Improves the customer experience<br />Enhances customer satisfaction<br />Meets regulatory compliance requirements<br />
  55. 55. Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference management makes intuitive sense. Why? Preference Management:<br />Puts consumers in control<br />Improves the customer experience<br />Enhances customer satisfaction<br />Meets regulatory compliance requirements<br />Generates a measureable impact<br />
  56. 56. Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference management makes intuitive sense. Why? Preference Management:<br />Puts consumers in control<br />Improves the customer experience<br />Enhances customer satisfaction<br />Meets regulatory compliance requirements<br />Generates a measureable impact<br />It’s the right thing to do<br />
  57. 57. Preference management benefits<br />In surveys, interviews, and conversations, companies tell us that preference management makes intuitive sense. Why? Preference Management:<br />Puts consumers in control<br />Improves the customer experience<br />Enhances customer satisfaction<br />Meets regulatory compliance requirements<br />Generates a measureable impact<br />It’s the right thing to do<br />So why isn’t everyone doing it?<br />
  58. 58. Barriers to preference management<br />
  59. 59. Most firms struggle to implement preference management<br />We often find that firms:<br />Fail to make the business case for preference management<br />
  60. 60. Challenges in making the case<br />Firms struggle to make a business case for establishing preference management<br />Fail to tie ‘soft’ benefits of preference management (customer experience, customer satisfaction, etc.) to financial impact<br />
  61. 61. Challenges in making the case<br />Firms struggle to make a business case for establishing preference management<br />Fail to tie ‘soft’ benefits of preference management (customer experience, customer satisfaction, etc.) to financial impact<br />Many firms pay attention when only they are forced to (regulatory compliance)<br />
  62. 62. “I preach that preference management is all about customer experience, but people listen when it’s about not being fined.”<br />Senior marketer, Large insurance company<br />
  63. 63. Most firms struggle to implement preference management<br />We often find that firms:<br />Fail to make the business case for preference management<br />Struggle to align business units, internal functions, and communication channels<br />
  64. 64. Organizational alignment<br />Preference management must incorporate:<br />Functions<br />Marketing, customer service, sales, legal, etc.<br />
  65. 65. Organizational alignment<br />Preference management must incorporate:<br />Functions<br />Marketing, customer service, sales, legal, etc.<br />Channels<br />Online, email, direct mail, call center, etc.<br />
  66. 66. Organizational alignment<br />Preference management must incorporate:<br />Functions<br />Marketing, customer service, sales, legal, etc.<br />Channels<br />Online, email, direct mail, call center, etc.<br />Lines of business<br />Product groups, brands, business lines, etc.<br />
  67. 67. “Trying to get everyone on the same page internally is like herding cats. No business group wants to be told that they can’t communicate with a customer. <br />Educating internal colleagues on the benefit of capturing and honoring customer preferences is my biggest challenge.”<br />Senior marketer, Large financial services firm<br />
  68. 68. Most firms struggle to implement preference management<br />We often find that firms:<br />Fail to make the business case for preference management<br />Struggle to align business units, internal functions, and communication channels<br />Don’t wish to give up control over how they contact customers<br />
  69. 69. Relinquishing control<br />Establishing a preference management program gives consumers control, and they might say “no”<br />
  70. 70. Relinquishing control<br />Establishing a preference management program gives consumers control, and they might say “no”<br />This requires a significant culture shift for many organizations<br />
  71. 71. Relinquishing control<br />Establishing a preference management program gives consumers control, and they might say “no”<br />This requires a significant culture shift for many organizations<br />It may also require a change in process, measurement metrics, incentive programs, and business operations<br />
  72. 72. “The biggest barrier to establishing a preference management program is the natural conflict between respecting consumer wishes and achieving our financial goals. <br />Asking for customer preferences is a fundamental business shift that our organization has to get their head and heart around.”<br />Customer experience manager, Large insurance company<br />
  73. 73. Most firms struggle to implement preference management<br />We often find that firms:<br />Fail to make the business case for preference management<br />Struggle to align business units, internal functions, and communication channels<br />Don’t wish to give up control over how they contact customers<br />Lack the technology to capture and/or honor preferences<br />
  74. 74. Technical challenges<br />Customer data often sits in disparate systems throughout an organization <br />Often leading to multiple views of the customer<br />Different records for the same customer may indicate different preferences<br />
  75. 75. Technical challenges<br />Customer data often sits in disparate systems throughout an organization. <br />Often leading to multiple views of the customer<br />Different records for the same customer may indicate different preferences<br />Once captured, many systems cannot honor preferences, particularly in real-time<br />
  76. 76. Technical challenges<br />Customer data often sits in disparate systems throughout an organization. <br />Often leading to multiple views of the customer<br />Different records for the same customer may indicate different preferences<br />Once captured, many systems cannot honor preferences, particularly in real-time<br />Preference information is not always accessible at the point of contact (e.g. in a call center or at a point-of-sale)<br />
  77. 77. “The limited preference options that we provide are captured in disparate systems and through disparate processes that require almost continuous updates to the system of record. <br />Every preference element is standalone and must be manually updated.”<br />Head of E-Commerce, Large credit card issuer<br />
  78. 78. Overcoming the barriers<br />
  79. 79. Overcoming the barriers<br />Start by defining the goal<br />
  80. 80. Start by defining the goal<br />Focus on establishing a preference management framework<br />Framework must balance customer experience, sales and marketing opportunities, service effectiveness, and legal and regulatory requirements<br />
  81. 81. Start by defining the goal<br />Focus on establishing a preference management framework<br />Framework must balance customer experience, sales and marketing opportunities, service effectiveness, and legal and regulatory requirements<br />Take a programmatic approach <br />Understand that implementing a preference management program is a journey<br />Determine readiness<br />Map out your destination and establish milestones<br />Identify constituents/stakeholders<br />
  82. 82. “One of our early challenges was creating a framework for each of our business lines to understand preference in the same way.<br />Once we had that, we were able to align resources at an operational level, and explain progress at a senior level.”<br />VP Marketing, Travel company<br />
  83. 83. Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />
  84. 84. Audit your current communications approach<br />Map the frequency/volume of communications<br />Per contact<br />Per channel<br />Per product/LOB/function<br />
  85. 85. Audit your current communications approach<br />Map the frequency/volume of communications<br />Per contact<br />Per channel<br />Per product/LOB/function<br />Analyze the impact of communications<br />Examine differences between those that actively opt-in and other customers <br />Response rates; Opt-outs; Engagement; Referrals; Revenue; Profitability<br />
  86. 86. “We audited our email newsletter program and discovered that there were more than one million customers to whom we were sending more than 200 emails per year. <br />We had no idea. It was a complete wake up call that we had to change the way we communicate.”<br />Head of direct marketing, Major CPG firm<br />
  87. 87. Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />Create ownership<br />
  88. 88. Create a governance council<br />Whether or not there is a formal preference management “owner”, a governance council:<br />Ensures business objectives aren't quashed<br />
  89. 89. Create a governance council<br />Whether or not there is a formal preference management “owner”, a governance council:<br />Ensures business objectives aren't quashed<br />Establishes contact policies<br />
  90. 90. Create a governance council<br />Whether or not there is a formal preference management “owner”, a governance council:<br />Ensures business objectives aren't quashed<br />Establishes contact policies<br />Defines segmentation strategy, and inclusion and exclusion rules<br />
  91. 91. Create a governance council<br />Whether or not there is a formal preference management “owner”, a governance council:<br />Ensures business objectives aren't quashed<br />Establishes contact policies<br />Defines segmentation strategy, and inclusion and exclusion rules<br />Collaborates to formalize the rules of the road<br />
  92. 92. Create a governance council<br />Whether or not there is a formal preference management “owner”, a governance council:<br />Ensures business objectives aren't quashed<br />Establishes contact policies<br />Defines segmentation strategy, and inclusion and exclusion rules<br />Collaborates to formalize the rules of the road<br />Agrees on objectives and key performance indicators<br />
  93. 93. “A group of concerned employees organically emerged from different businesses and roles. As we began to convene, we recognized that there were others that needed to be brought on board. <br />It was only 9 months later that someone was formally appointed to be responsible for the program overall – that person came from the governance council and continues to rely on the rest of us to get things done.”<br />VP Marketing, Insurance company<br />
  94. 94. Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />Create ownership<br />Recognize the role of culture<br />
  95. 95. Culture<br />Tie preference management to initiatives relating to customer-centricity, experience, and/or satisfaction<br />Several companies that we interviewed pointed to executive sponsorship as the catalyst for preference management<br />
  96. 96. Culture<br />Tie preference management to initiatives relating to customer-centricity, experience, and/or satisfaction<br />Several companies that we interviewed pointed to executive sponsorship as the catalyst for preference management<br />If necessary, drive cultural change. How? <br />Leverage results from your communications audit<br />Consolidate customer complaints<br />Sign your senior management up for your communications<br />Leverage Voice of the Customer/Customer satisfaction surveys<br />
  97. 97. “When we were thinking about communications preferences, we looked as ourselves as individuals – without our corporate hats on – and thought about what we would want as individuals.<br />It changed how we thought about customer communication. That became a guiding light for us – to see ourselves in our customers shoes.”<br />Senior marketer, Automotive company<br />
  98. 98. Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />Create ownership<br />Recognize the role of culture<br />Iterate<br />
  99. 99. Take deliberate [baby] steps<br />Focus on what you can control<br />
  100. 100. Take deliberate [baby] steps<br />Focus on what you can control<br />Validate planning assumptions and process<br />
  101. 101. Take deliberate [baby] steps<br />Focus on what you can control<br />Validate planning assumptions and process<br />Measure the impact<br />
  102. 102. Take deliberate [baby] steps<br />Focus on what you can control<br />Validate planning assumptions and process<br />Measure the impact<br />Test and learn <br />
  103. 103. “We started with alerts related to products like payments and fraud triggers, but they were not true preferences. <br />However, it allowed us to understand how consumers demonstrated preferences and to iron out a lot of kinks before we went full bore on designing and implementing a preference management program.”<br />VP Marketing, Financial services firm<br />
  104. 104. Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />Create ownership<br />Recognize the role of culture<br />Iterate<br />Make the business case<br />
  105. 105. Make the case<br />Most leading firms lack a financial justification<br />They describe it as the right thing to do<br />
  106. 106. Make the case<br />Most leading firms lack a financial justification<br />They describe it as the right thing to do<br />Others look at the impact of preference management<br />The incremental impact on metrics such as response rates, customer loyalty, profitability, and satisfaction<br />Calculate the value of an contact point (email address, phone number, etc) and demonstrate the cost of opt-outs<br />
  107. 107. Make the case<br />Most leading firms lack a financial justification<br />They describe it as the right thing to do<br />Others look at the impact of preference management<br />The incremental impact on metrics such as response rates, customer loyalty, profitability, and satisfaction<br />Calculate the value of an contact point (email address, phone number, etc) and demonstrate the cost of opt-outs<br />Leverage customer’s voice to support the case<br />Look to social media and satisfaction surveys<br />
  108. 108. “We don’t have a financial justification, it’s all about customer satisfaction.<br />We plan on tying the benefits back to revenue and cost savings but that really hasn’t been our primary driver.”<br />Senior marketer, Automotive firm<br />
  109. 109. Overcoming the barriers<br />Start by defining the goal<br />Determine readiness<br />Create ownership<br />Recognize the role of culture<br />Iterate<br />Make the business case<br />Technology supports the program<br />
  110. 110. Deploy the right technology solution<br />Recognize certain building blocks must be in place before implementing a preference management program<br />
  111. 111. Deploy the right technology solution<br />Recognize certain building blocks must be in place before implementing a preference management program<br />IT must be part of the solution<br />
  112. 112. Deploy the right technology solution<br />Recognize certain building blocks must be in place before implementing a preference management program<br />IT must be part of the solution<br />Build on existing infrastructure <br />
  113. 113. Deploy the right technology solution<br />Recognize certain building blocks must be in place before implementing a preference management program<br />IT must be part of the solution<br />Build on existing infrastructure <br />Build technical solution to meet the program design<br />
  114. 114. Deciding to outsource or build in-house<br />In-house firms point to:<br />Privacy and data protection<br />System speed and performance<br />Access to data<br />Cost of outsourcing<br />Complexity of data and systems<br />
  115. 115. Deciding to outsource or build in-house<br />In-house firms point to:<br />Privacy and data protection<br />System speed and performance<br />Access to data<br />Cost of outsourcing<br />Complexity of data and systems<br />Outsourcers point to: <br />Lack of resources<br />Lack of skills<br />Control over vendor (versus internal IT)<br />Cross-client knowledge sharing<br />Lack specialist knowledge about preference management<br />Speed of implementation<br />
  116. 116. “Starting from scratch would be easy. It’s the legacy systems that create the biggest challenge. <br />We worked hand-in-hand with our service provider to tie in our preference management program with all of our other marketing and service initiatives. And, our IT team worked with us and had a major role in the successful implementation of our program.”<br />Head of CRM, Retail firm<br />
  117. 117. Summary<br />Preference management delivers value <br />It puts consumers in control; improves the customer experience; and enhances customer satisfaction<br />
  118. 118. Summary<br />Preference management delivers value <br />It puts consumers in control; improves the customer experience; and enhances customer satisfaction<br />Becoming a leader requires:<br />Cultural commitment<br />The right set of stakeholders<br />A programmatic approach<br />The right technical infrastructure<br />
  119. 119. Thank You!<br />Dave Frankland<br />@dfrankland<br />http://blogs.forrester.com/dave_frankland<br />
  120. 120. Jamie LaRose<br />Bank of America<br />Enterprise Email & Mobile Marketing<br />
  121. 121. Building the Case for a Centralized Preference Management Solution<br />Employing a pull messaging strategy to improve relevancy<br />Assessing the current enterprise landscape<br />Defining the opportunity cost<br />Servicing & marketing<br />Utilizing marketing as a test bed<br />Communication Testing<br />SourcePoint Subscription Center<br />
  122. 122. POC - SourcePoint<br />https://pages.emcom.bankofamerica.com/sourcepoint/?tracking=SiteMap<br />
  123. 123. Debbie Braunert<br />VP, Solutions & Product Marketing<br />Breaking Through the Noise with Preference Management<br />
  124. 124. SoundBite Communications <br />99<br />Clients andMarket Position<br />Innovation<br />Expertise<br />Financial<br />Technology<br /><ul><li>Free-to-end-user text messaging
  125. 125. Preference Management Solution
  126. 126. Contact Center Text Messaging Solution
  127. 127. Multi-channel blending and escalation
  128. 128. Proactive Customer Communications (PCC) Market leader
  129. 129. 200+clients, including ~50 Fortune 500 B2Cs
  130. 130. Valued set of business partners
  131. 131. Emerging global position
  132. 132. ~2B messages annually
  133. 133. 10 Years providing PCC
  134. 134. ~200 R&D man years
  135. 135. Domain expertise: verticals, channels, and customer lifecycle applications
  136. 136. Flexible, on-demand platform
  137. 137. Extensive patent portfolio
  138. 138. Intelligent, interactive, multi-channel communications
  139. 139. SAS70 Type II & PCI Level 1 compliant
  140. 140. Publicly traded (NASDAQ: SDBT)
  141. 141. $40M+ TTM revenue establishes SDBT as a market leader
  142. 142. Strong cash position
  143. 143. No debt</li></li></ul><li>7 of the top 10 global issuing banks<br />7 of the top 10 U.S. telecom & media providers<br />5 of the top 20 U.S. retailers<br />12 of the top 20 U.S. utility providers<br />~90 collections firms<br />100<br />SoundBite Users<br />Financial Services<br />Telecom& Media<br />Retail<br />Energy & Utilities<br />Collection Agencies<br />More than 200 clients actively use <br />SoundBite’s Proactive Customer Communications offering<br />
  144. 144. Paradigm Shift: Towards Proactive Communications<br />Reactive Communications <br />101<br />Proactive Communications <br />“Interactive multichannel communications provide several benefits… to build strong customer relationships while also reducing costs.”<br />Source: “Proactive Outbound Notification Saves Money”, Forrester Research, January 2009<br />
  145. 145. SoundBite Communications Breaks Through the Noise<br />102<br />direct mail<br />text messaging<br />email<br />social media<br />voice<br />To get desired results, communications must be proactive and...<br />Personal<br />Timely<br />Engaging<br />Relevant<br />
  146. 146. SoundBite Solution Suites<br />Optimization Solutions<br />Customer Lifecycle Solutions<br />Proactive <br />Marketing<br />Mobile<br />PreferenceManagement<br />Proactive Collections <br />& Risk Management<br />ProactiveCustomer <br />Care<br />Contact Center<br />Analytics<br />ProactivePayments<br />103<br />
  147. 147. SoundBite Preference Management<br />Analytics& Decisioning<br />Observed Behavior<br />Text me with special offers<br />Call me for appointment confirmation<br />Email me for payment reminders<br />Stated Preferences<br />The collection and management of stated preferences and observed behavior that guide an organization in how to communicate with each consumer through targeted, relevant communications that achieve superior results<br />104<br />
  148. 148. SoundBite Preference Management Solution Suite<br />105<br />Business Challenges<br /><ul><li>Consumers want choices and control over how they interact with your organization
  149. 149. Changing regulations require opt-in for many types of communications
  150. 150. Organizations challenged with how to manage this data</li></ul>SoundBite Value<br /><ul><li>Capture, manage and honor consumer communications preferences
  151. 151. Deliver more targeted, relevant, cost-effective and compliant communications
  152. 152. Increase response rates
  153. 153. Develop stronger consumer relationships</li></ul><br /><br />Preference Management<br />Optimization Solutions<br />Perform Program Readiness Assessment<br />Automate message opt-in<br />Capture and honor communication preferences<br />
  154. 154. Survey: Multi-Channel Preferences for Fraud<br />106<br />35% TEXT MESSAGE<br />Consumers prefer to be contacted via multiple channels in cases of suspected fraudulent activity.<br />54%CALL MOBILE<br />84%CALL<br />HOME<br />52%EMAIL <br />MESSAGE<br />2010 SoundBite Fraud Cardholder Communications Survey, <br />Conducted by Harris Interactive<br />
  155. 155. Retailer Adopts Best Practices for Preference Management<br />Situation<br /><ul><li>Retailer seeks to increase revenue and customer loyalty with service reminders delivered via customer-selected channels
  156. 156. Presentment of offers based on prior service satisfaction levels</li></ul>Strategy<br /><ul><li>Thank customers for recent patronage and survey them to determine satisfaction level
  157. 157. Obtain opt-in and customer communication preferences from satisfied customers
  158. 158. Identify dissatisfied customers and target with future win-back campaigns</li></ul>Tying your opt-in strategy to a positive brand experience can yield higher opt-in rates<br />Results<br /><ul><li>89% of survey respondents were satisfied with service – this segment was presented with the opt-in message
  159. 159. 51% opted-in to receive future promotional offers
  160. 160. Communication channel preferences varied: 32% Voice, 26% Text, 42% Email</li></ul>Demonstrates the importance of a multi-channel strategy<br />107<br />
  161. 161. Thank You!<br />108<br />Debbie Braunert<br />VP, Solutions & Product Marketing<br />SoundBite Communications<br />Preference Management<br />DBraunert@SoundBite.com<br />1-877-SoundBite x2583<br />Twitter: soundbitecomm<br />
  162. 162. Question & Answer<br />109<br />Dave Frankland <br />Principal Analyst <br />Forrester Research <br />Jamie LaRose<br />VP, Digital Marketing<br />Bank of America, Enterprise Email & Mobile Marketing<br />Debbie Braunert<br />VP, Solutions and Product Marketing<br />SoundBite Communications <br />

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