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Big Data Marketing Seminar NGData Steven Noels
NGDATA is a company that provides big data analytics and artificial intelligence to help companies improve customer experience. It collects customer data from various sources to build detailed customer profiles called "Customer DNA" and uses this to deliver personalized experiences across channels, proactively engage customers, enhance customer service, and gain greater insights from existing customer data. The document discusses case studies of NGDATA helping companies in retail banking, media, and other industries to better understand their customers and improve customer retention through real-time personalization.
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Big Data Marketing Seminar NGData Steven Noels
- 1. Improving the CustomerExperience Opportunities with Big Data Faces Of Content Big Data Marketing 27 January 2015
- 2. 2Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission About NGDATA Large data processing Artificial intelligence Complex Analytics and BI Decision systems EXPERTISE 50+ employees Offices in the US and Europe Flagship Product - Lily Enterprise COMPANY Global partnerships with pioneers in Financial Services, Media & Publishing and Telecommunications PRESENCE Technology Software System Integration Consulting PARTNERSHIPS Turning Big Data into Actionable Customer Insights
- 3. 3Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Customer Experience Customer Spamming is doing more damage than good Customer insight is limited to a subset of available data - Limiting relevance and timeliness of offers Company & Customer Activity Customer CRM Systems Customer Web & Mobile Customer Channel Campaigns Customer Service Desk Social Data Website & online apps Mobile App Server Mail SMS Print Broadcast Offers direct mail ATM web Agent, IVR email mobile chat Relevance? Awareness? Value? Timing? Clarity?
- 4. 4Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Google Now The Leading Example real-time context-aware hyper-personal connect the dots
- 5. 5Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Not Just Big Data Graphs… Enterprises are NOT looking for new presentations of their data anymore, but for RESULTS and for solutions and people to achieve them
- 6. 6Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Retail Banking: Customer Service Above All Others 42.2% Customer Service 24.3% Bank Location 22.0% Efficient Online Services 11.5% Financial Rates/Loans Which quality is most important to consumers when selecting a bank? Customer Service is Valued Even More Than Financial Rates/Loans NGDATA Survey Findings 2014
- 7. 7Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Retail Banking: Do You Understand Your Customers? Only 20% are very confident their bank understands them NGDATA Survey Findings 2014
- 8. 8Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Retail Banking: Customer Loyalty is Hard to Come by Knowing your customer drives credibility, and therefore, loyalty NGDATA Survey Findings 2014
- 9. 9Copyright 2014 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Media Industry Clear Readership Behavior Change 90% of the visitors read less than 5 articles per day Audience behavior varies strongly between device used Social referrals skip the homepage Editorial classifications do not match up with market segmentation NGDATA & iMinds Joint Research Findings 2014
- 10. 10Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Gain Greater Value with Existing Data Enhance Customer Service Deliver an effective omni-channel strategy Proactively Engage Customers Know All of Your Customers
- 11. 11Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission 42.5% of 45-54 year-olds hold 1-3 bank accounts Number of bank accounts held ▪ Improve customer relationships with everyone • automate processes related to understanding all customers - tied to context, intent, preferences ▪ Easily identify high-value customers • use behavior-based metrics and value-scoring models for greater value Know All of Your Customers
- 12. 12Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission ▪ Online is important but multichannel is even more important. ▪ Engage customers effectively by reaching them via their preferred channel(s). ▪ With each interaction, channels should update to provide a personalized, richer experience. Deliver a Consistent Omni-channel Experience
- 13. 13Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Proactively Engage with Customers customer removes multiple products from portfolio 6 OCT customer churns 11 NOV manual churn score (bi-monthly) portfolio size (weekly)
- 14. 14Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Proactively Engage with Customers win-back period customer removes multiple products from portfolio 6 OCT customer churns 11 NOV win-back sensitivity manual churn score (bi-monthly) portfolio size (weekly)
- 15. 15Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Proactively Engage with Customers win-back period win-back sensitivity Lily churn score (continuous) portfolio size (weekly) customer churns 11 NOV customer retention actions Lily alerts for in- creased churn risk customer removes multiple products from portfolio 6 OCT
- 16. 16Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Enhance Customer Service ▪ Anticipate future needs ▪ Using information from multiple channels. ▪ Deliver unique customer experiences ▪ Increase customer retention, up-selling and cross-selling
- 17. 17Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Become Customer Centric Preferences Affinities Context Behavior CUSTOMER DNA
- 18. 18Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Building DNA with Big Data ▪ Cover untapped data sources − online − transactional − device − network ▪ Combine into True Omni- channel profile ▪ Streaming Data: Act in real- time CUSTOMER DNA
- 19. 19Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission I have a customer - what are the top 3 products he is likely to buy? Answering the Tough Questions… Which top hundred customers are likely to buy my product X today? What is the best channel to connect with my customer, and when? Can I turn around my most valuable potential churners?
- 20. 20Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Lily Real Time Personalization Within the Current Enterprise Architecture – Improving existing BI landscape Operational Systems External Data Contract/Product Data Customer Operational Data Reference Data Reporting / Analytics Enterprise BI and reporting Enterprise Analytics Applications Marketing and Social Data Lily Enterprise Customer Interaction Data Campaign Data ERP/CRM Data Data Warehouse Data Service Desk Customer CRM and IVR Systems Real Time Integration Data integration Batch Integration ETL or Lily API based Lily Connector Based Web and Mobile Mobile Apps Customer Website & Social Channel / Campaigns Mail SMS Print Broadcast Marketing CampaignMgt Sales Office Agent / Advisor Feedback
- 21. 21Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Getting to the RIGHT data for customer identity and actionable profiles: Big Data Making the Difference Intelligently Handling Big Data and Building Customer DNA in Real-Time • Lily uniquely builds Customer DNA, keeping a detailed record of individual customer behavior • Contains factual information and interpreted data - translated into specific KPI’s kept up to date in real time • Numerical and normalized for immediate use in learning models, business process and analytics • Consists of thousands of metrics, key markers, monitory CLV,… • Keeping track of all metrics over time allows to take timely actions on signals, trends, exceptions, values,... • Generating a complete understanding of the customer, delivering immediate results
- 22. 22Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission LEVEL 3 LEVEL 2 LEVEL 1 LEVEL 0 LEVEL -1 Lily – Data driven The Customer – Inbound The Marketer - Outbound The Data Scientist The Lily Added Value From hindsight to data driven: the use cases Hadoop/DW/Storage Customer DNA Customer interaction is evolving… • from out-bound to in-bound • from segment to ONE • from reactive to proactive • And real time is the only time that matters Working with Lily Dynamic Micro Segments, Campaigns, ... Lily Responds to Customers with Personalization, Advertising, Security, Opportunities, Real Time... Lily triggers actions to agents, sales, marketing, call centers, Customers when opportunities, fraud or risks
- 23. 23Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Applied to Subscription-based Businesses Customer Lifetime Value (Inbound, Outbound, Risk) • Personalization • Offer recommendations based on individual preferences • Customer Service assistance • Manage risk, fraud prevention, Reduce customer churn • Personalization, Customer Services • Better targeting, micro campaigns, social leaders • Reduce customer churn, price sensitivity • Media and IPTV, audience measurement • Personalization, Cross sell/upsell • Recommendations – ads, content, etc. • Audience measurement • Customer Services Banks Telecoms Media and Publishers
- 24. 24Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Customer DNA in Media Large International Media Group – De Persgroep Single Customer View – Centralized, real time updated, and very detailed single customer view, driving personalized marketing and customer analytics. Fight Churn more Efficiently through more careful Targeting Result • A platform for actionable, omni-channel customer intelligence from Big Data Objectives • Collect CRM/DWH and clickstream data • Build Customer DNA with 1000s of metrics • Support operational & analytical reporting • Integrate with Campaign Management for offer proposal and capture feedback • Learn affinities for automatic profiling Solution “ NGDATA is critical in the way we capture, analyze and generate actionable intelligence from Big Data. NGDATA makes it easier for us to connect with our customers across all of our channels, learn from their behavior and create personalized, unique offers to foster loyalty.” —Luc Verbist, CIO, De Persgroep
- 25. 25Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission 1-2-1 Marketing and Micro Campaigns Quad-play Telco/Media – Telenet (Liberty Global) Individual Product and Content Preferences – Marketing campaigns with higher Frequency (> x10), higher Response rate (x4) and reduced Budget (< ½) Result • Improve ROI (conversion ratio) of Marketing Campaigns by targeting individual customers Objectives • Customer DNA with focus on usage, network, context based interactions and product preferences • Learned preferences to feed event-based marketing actions & send SMS offer to stimulate subscription renewal • Personalized video Solution “ With the international expertise of NGDATA, our CRM department now exists at the center of all our inbound and outbound customer interactions, sharing real, actionable business intelligence and insights, executing hundreds of targeted campaigns on a yearly basis.” —Bert Van Driessche, Director of CRM and Consumer Intelligence, Telenet
- 26. 26Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Optimize Sales Targeting for Subscriptions Large Belgian News Publisher – Mediahuis Real Time Actionable Customer DNA – Allows marketers to send the right message to the right customer/prospect at the right time. Model lift of 4.5. Result • Optimize sales targeting for increased subscriptions of new customers and increased span of existing subscriptions Objectives • Real time ingest of the website click streams, Messagent interaction data and marketing database • Build a acquisition propensity predictive model using on Random Forest techniques. • Acquire operational efficiency which leads to a daily run of the acquisition model. • Selection of the prospect and customers to be targeted and expose individual DNA to execution Solution
- 27. 27Copyright 2015 NGDATA ®,Inc. Confidential – Distribution prohibited without permission Execute: Merchant-funded Mobile Offers Fortune 50 US Retail Bank Mobile Information Mobile Wallet Mobile Redemption • Leverage multiple sources of data to improve coupon redemption rate through real-time, location- based personalized offers Objectives • Real-time ingest of payment transactions • Behavior-based MCC preference learning • Location- and preferences-based coupon selection & delivery in mobile wallet • Evaluate performance between collaborative filtering & KB-based preference learning Solution Individual Coupon delivery – Average targeting precision increased by 5-7x, results in increased redemptions and loyalty Result
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Editor's Notes
- #9 Showing customers that you care or understand them Recognition (treating customer as an individual, know and care them) before loyalty Consistency and conversation Showing customers that you care or understand them Recognition (treating customer as an individual, know and care them) before loyalty Consistency and conversation
- #11 Define: What is context Everything happens at a certain time, location, different behavior on vacation, stages of life… A lot of data is underutilized if not brought into context of for instance, time…
- #12 Improve customer relationships with everyone via the most appropriate resources Automate processes related to understanding all customers - tied to context, intent, preferences Easily identify high-value customers use behavior-based metrics and value-scoring models for greater value
- #13 Relevant because of consistent omni-channel conversation Each of those different channels should be in sync and updated so the customer gets a personalized experience (richer experience because each channel will update based on behavioral data)
- #17 Anticipate future needs, look at behavioral patters, market trends and user experiences. Deliver personalized, unique and memorable experiences by using information from multiple channels. Result: Customer feels understood and valued which leads to increased loyalty Good basis for customer retention, up-selling and cross-selling… Add example: someone tries to cancel product, fails multiple times, picks up the phone (conversation should reflect recent activity of customer, regardless of the channel) Relevant based on past experience
- #18 Customer DNA: Is a collection of 1000s of predefined metrics, calculated in real time and organized per identified customer Is based on a variety of interaction- and fact-based data sources, using a variety of predefined calculation, prediction and/or retrieval methods Provides actionable data for marketing & customer-centric applications