1. WESTPAC
GROUP
When CRM
meets CEM
Lea Wright
Head of Consumer CRM
27 February 2013
Westpac Banking Corporation ABN 33 007 457 141.

2. CRM PURPOSE
Help our customers achieve their goals and wellbeing
by understanding and anticipating their needs
and deepening customer relationships
By doing that we expect to achieve:
Deep and Valuable customer relationships
Customer Profitability
Productivity Benefits

3. TRENDS – MARKET
Aging Population
Mass Digitisation
– World that is Always On
Economic Transformation – at home
Rise of Asian Economies
Post GFC World

4. TREND - RISE OF BIG DATA
Increasing Volumes of Data
Blurring of Online and Offline presence
Challenge in funding nuggets
of gold in customer data
– insights and relevance
Timeliness and latency
Speed to action and execute

5. WORLD IN CHANGE – WAY WE UNDERSTAND AND APPROACH CUSTOMER
Faster we move to an Always On
Data Driven World
– where big data informs and delivers
offers
Faster we move back to principles of
Customer Service, Loyalty and
Recognition in addition to Sales

6. IT ALL STARTS WITH DATA DRIVEN, RELEVANT AND MEANINGFUL INSIGHTS

7. LINKAGE BETWEEN INSIGHTS AND COMPETITIVE ADVANTAGE
There are two sources of
Competitive Advantage:
Learn about your customers
faster than your
competitors
Put that learning into action
faster than your
competitors
Jack Welch GE Capital

8. INTERSECTION OF CRM, IT AND CUSTOMER EXPERIENCE
CIO, CMO and CX are
intersecting
and interdependent
3Cs
Capability
Campaigns
Customer Service

9. CUSTOMER LIFESTAGE AND INSIGHTS
Recognising key life events and customer behaviour to determine
behavioural triggers for Always On offers and communications
• Life Triggers
• Event Triggers
• Behaviour Triggers

10. ONBOARDING – FIRST IMPRESSIONS COUNT
A customer will take up additional products if experience is positive
Or disengage with if a negative experience is left unresolved
Average days to
1st Transaction
Active Time to Active Normal account
• Median Days usage achieved
• Average Days and transactions
The probability that
the remaining will
activate

11. SERVICE INTERVENTION: NEXT BEST OFFERS
Sales/Revenue NBOs
Service Intervention NBOs
Credit Card X-Sell
eStatements
Home & Contents X-Sell
Data Quality
Credit Limit Increase
Avoiding Fees
Consumer Bundle
Old tran/new tran
Consumer Savings
No/Inactive Internet Banking
No Debit MasterCard
(Q1)
Personal/Flexi Loan X-Sell
(Q4)
Demonstrating a 1:1 relationship through our people,
providing the right offer and message,
delivered to the right customer through the right channel
at the right time

12. 1:1 PERSONALISED COMMUNICATIONS
Personalise Relevant Sales Channel Tools
Communications
Local
feel
Named
contact

13. ALWAYS ON - MULTI CHANNEL MARKETING
Delivering data driven campaigns in the customer’s environment
in an integrated multi-channel multi-step way
Mobile Inbound and Outbound
Direct Mail
Voice Marketing
SMS
NBOs
Tablet
eDM
Branch Leads
NBOs / Special Leads
ATMs
Online Offers
Statement Messages
Online Splash Pages
Statement Inserts
Message Centre
Operational Letters
Compliance Communications
Customer

14. INSIGHT DRIVEN DATA IS INFORMING “NEW FASHIONED” CUSTOMER SERVICE
Leveraging insights of customer behaviour and service failures
to create positive moments of truth and outcomes,
before they become complaints or defections
Complaints as a data source
Triggers for servicing ‘conversations’
Proactive service intervention and service experience

15. RECOGNITION OF CUSTOMER VALUE AND MOMENTS OF TRUTH
Structure Programs Around Key Moments of Truth:
• Onboarding – Welcome in Onboarding experience
• Retention – Recognised Value at early Attrition/Retention
milestones
• Recognise - High Value, long term customers with deep
relationships
• Servicing – Proactive Servicing intervention

16. THE WAY FORWARD – CRM MEETS CEM
Always On Multi Channel
campaigns
Data Driven and Customer
Lifestage Insights - relevant and
timely communications to
customers
Service Intervention - addressing
moments of truth before
customer defection
Recognition of Customer Value

17. REASON WHY – EMBEDDED CUSTOMERS MAKE GOOD BUSINESS

18. Questions