This document summarizes a presentation on event driven marketing (EDM) and how it can help banks respect customers. It discusses defining EDM as targeting customers with the right message through the right channel at the right time. It also outlines the scope of an EDM project at a Belgian bank to improve customer satisfaction, sales, and retention across channels. Testing showed EDM improved conversion rates and the salesforce felt it was an improvement over traditional listings. The conclusion is that EDM shows value but requires complex campaign management, and that customer respect means being present during key moments in a customer's life.

1. Marketing Research Services / Belgium
CxO event
Event Driven Marketing
Vincent Nanni
Gaetan Verschraeghe
16/11/2006

2. Agenda
Marketing Research Services
• Customer respect in retail banking
• EDM definition
• Context & scope of the project
• Multichannel in action
• Workflow: selection & reporting
• Results
• Quotes & Feedback of the salesforce
• Conclusions & next steps
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3. Customer respect in retail banking
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4. Customer respect in retail banking
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Main reproaches Does it mean:
• No proactivity & not • Approach through
accessible prefered channel &
• « Had to tell my own @ the right time?
story 3 times to 3 • Customer intimacy?
different persons » • Focus on customer
• « Too much blabla, needs in stead of
no concrete stuffs » profitability goals?
• « I know what I pay • Value for money
but I don’t know that proposition?
I will receive »
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5. Agenda
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• Customer respect in retail banking
• EDM definition
• Context & scope of the project
• Multichannel in action
• Workflow: selection & reporting
• Results
• Quotes & Feedback of the salesforce
• Conclusions & next steps
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6. EDM: definition
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• EDM consists on targetting the right
customer, with the right message,
through the right channel, at the right
time and with the appropriate frequency.
• It enables an organization to do for all
customers what it would do if it had only
one customer-every day, accross
multiple channels, with an ability to
analyse results – and without manuel
interventions
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7. Agenda
Marketing Research Services
• Customer respect in retail banking
• EDM definition
• Context & scope of the project
• Multichannel in action
• Workflow: selection & reporting
• Results
• Quotes & Feedback of the salesforce
• Conclusions & next steps
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8. Context has changed
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Moment of
truth !
Does respect mean that a bank has to be present in
the key moments of a customer’s life?
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9. Scope of the project
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•• 4 main objectives:
Validation of EDM
• events
• 5 Sales & X-selling
• sectors (130 branches)
• 8 Straight Through Process
• Retention
• Customer dialogue (multichannel)
• Customer Satisfaction
• Approach multi products
• Timing:
• March => June (phase 1)
• July => October (phase 2)
• Reporting & analyse with B&D
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10. Agenda
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• Customer respect in retail banking
• EDM definition
• Context & scope of the project
• Multichannel in action
• Workflow: selection & reporting
• Results
• Quotes & Feedback of the salesforce
• Conclusions & next steps
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11. Multichannel in action
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Scénario de contact
event « permis de conduire »
•Managing complexity
TRAITEMENT LEADS
Coupon LEADS CLIENTS NON CONTACTES
- offre produit
Home'Bank call ICC
•Need of a good event detection, leads
Coupon
LEADS
'
EMAIL - propensity model
call TRAITEMENT
selection & accurate measures !
agence
Self’Bank
LEADS
LEADS
SMS CLIENTS CONTACTES
- incentive
TRAITEMENT LEADS - propensity model
- up-selling
Does respect mean that a bank has to contact a
customer when he wants 15/m through the right
15/ 15/m to 15/m
m
30/m
channel?
30/m 30/m 30/m 30/m
envoi cibles
- Agences
(permission Marketing)
Fin de
- call center (25/m) l'action
- intégration réponse client
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12. Agenda
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• Customer respect in retail banking
• EDM definition
• Context & scope of the project
• Multichannel in action
• Workflow: selection & reporting
• Results
• Quotes & Feedback of the salesforce
• Conclusions & next steps
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13. Workflow: selection & reporting (B&D)
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SAS Environment
Event 1 - leads
Listings
send to the
Event 2 - leads
EDM
branches
Leads
Event 3 - leads
Reports
Branch
send to the
data branches
Leads
selection Insurance
data Weekly reports
by
Home loan branches
ING data
- ING EDM - products
Sources Investment
Extraction data
tool KPI and
Other products Business case
data
EDM - interactions
Interractions:
Branch – Client
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14. Workflow: Weekly reporting (B&D)
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15. Workflow: Selection & reporting (B&D)
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• High level of complexity
• Lack of automatisation
• Need for right IT solution
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16. Agenda
Marketing Research Services
• Customer respect in retail banking
• EDM definition
• Context & scope of the project
• Multichannel in action
• Workflow: selection & reporting
• Results
• Quotes & Feedback of the salesforce
• Conclusions & next steps
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17. Results:
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• Concept EDM ?
• EDM test @ ING ?
• Lessons learned ?
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18. Methodology
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“Blind”group
(customers without event)
Validation of
the EDM concept
Target group
(clients with event, with EDM )
Validation of
the EDM test
Controle group
(clients with event, without EDM
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19. Results
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•1: validation of EDM concept
“Blind”group
(customers without event)
•Validation of
2: validation of EDM % conversion
+ 75 test
the EDM
concept
Validation of of the product mix more in line
Change
•3: lessons learned Target group
the EDM TEST
with customer’s needs with EDM )
(clients with event,
• Customers
Does respect means value
• Channels creation for the customer?
• Products # customers who bought almost one product
Conversion
# customers in the target group
• Timing
rate
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20. Agenda
Marketing Research Services
• Customer respect in retail banking
• EDM definition
• Context & scope of the project
• Multichannel in action
• Workflow: selection & reporting
• Results
• Quotes & Feedback of the salesforce
• Conclusions & next steps
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21. Quotes & Feedback of the salesforce
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• « EDM is een grote stap vooruit t.o.v. de eindeloze
listings die we dan eerst nog moeten uitzuiveren. In
kader van EDM is de doegroep kleiner maar beter »
• « De doelgroepen zijn zeer interessant want ze geven
ons een excellente reden om ze te contacteren »
• « Beste collega, onze dank voor sales lead; cliënt
Does respect means that first you have to respect2007
gesproken op kt met potentieel naar volgend jaar your
workforce if you want to »
(einde actieve loopbaan). respect your customers ?
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22. Agenda
Marketing Research Services
• Customer respect in retail banking
• EDM definition
• Context & scope of the project
• Multichannel in action
• Workflow: selection & reporting
• Results
• Quotes & Feedback of the salesforce
• Conclusions & next steps
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23. Conclusions
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• Event Driven Marketing shows its added
value
• Complexity of the process => need of a
Campaign Management tool
• High conversion rate & sales rate
• Respect of timing is a critical success factor
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24. Conclusions
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Customer respect means ….
presence at the key moments of a customer’s life!
to contact a customer when he wants to!
(permission Marketing)
value creation for the customers!
respect your workforce!
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25. Q&A
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Thank your for your attention
More info? Remarks or feedback?
Vincent Nanni - vincent.nanni@ing.be
Gaetan Verschraege - gaetan.verschraege@businessdecision.com
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