Delivering a Bank of One Experience
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Why do banks need to change? Retail banking is becoming more and more a commoditized business, as customers routinely use comparison sites and the internet to simply choose the bank with the lowest prices and/or best rates, and eroding wallet share and reducing customer profitability. To reverse that trend, bankers need to deliver more personalized and contextual value to their customers. James Eardley, Jr. of SAP Hybris shares how you can deliver a bank of one experience.
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Delivering a Bank of One Experience
- 1. SAP Hybris Marketing Delivering a Bank of One experience James Eardley
- 3. MARKETING IS BROKEN Marketers bombard customers with irrelevant messages. Not targeted, not relevant of online ads are ignored Source: Google Display Benchmark Tool 99.94% Email click through rate Source: Getresponse 3.57% All digital channel response rate Source: DMA Response Rate Report 2015 0.62%
- 4. In the Past Everything was better
- 6. Life was simple, but it was good.
- 8. Technology changed the old model
- 9. Much was gained, but much was lost
- 11. Lower profitability / Lower Wallet Share
- 13. Hybris Marketing Building share of mind to build share of wallet
- 14. Relevant Customer Engagements MEET CUSTOMER EXPECTATIONS Ultra Personal Dynamically Adapt Not Creepy
- 15. Source 1: “The Contextual Marketing Imperative”, Forrester Oct 2015 Marketers use 11 siloed channels on average… HOLISTIC APPROACH TO MARTECH IS NEEDED …and 15 separate systems to house customer data
- 16. Capture and enrich dynamic marketing profiles DATA IS THE FUEL
- 17. Real-time individualization Presentation of relevant content across all touchpoints Customer or Anonymous What they have done What they may do What they are doing now Leverage the real-time contexts to deliver the best customer experiences EXPLICIT IMPLICIT CONTEXT MAKES THE DIFFERENCE
- 18. Real-time individualization Presentation of relevant content across all touchpoints Customer or Anonymous What they have done What they may do What they are doing now Leverage the real-time contexts to deliver the best customer experiences EXPLICIT IMPLICIT CONTEXT MAKES THE DIFFERENCE
- 19. Understand the real-time intent of each customer and dynamically deliver contextually relevant experiences across channels. INSIGHT AGILITY EXPERIENCE MARKET TO AN AUDIENCE / BANK OF ONE DELIVER INDIVIDUALIZED CUSTOMER ENGAGEMENTS BASED ON REAL-TIME CONTEXT AND INTENT CAPTURE, ENRICH, AND CONSOLIDATE CUSTOMER DATA AND GAIN DEEPER INSIGHTS REACT QUICKLY TO OPPORTUNITIES. FAST AND INTEGRATED SOLUTION
- 20. THROUGH OUT-OF-THE-BOX MARKETING SCENARIOS Marketing Analytics HYBRIS MARKETING Customer Profiling • Capture and enrich customer information • Create real-time view of customer interactions Segmentation and Campaign Management • Identify the target audience • Personalize your messages across channels Commerce Marketing • Personalized customer engagement Marketing Resource Management • Manage operational complexities • Orchestrate and optimize resources. Marketing Analytics • Optimize marketing • Respond to opportunities with real-time insights Marketing Lead Management • Qualify buyers and monitor success, • Drive collaboration between marketing and sales Loyalty Management • Go beyond traditional card-based loyalty programs to gain insights and drive behavior
- 21. CONFIGURED FOR SUCCESS GO TO MARKET QUICKLY • Fast quarterly innovations • Leverage best practice processes FLEXIBLE DEPLOYMENT • Public Cloud • Private Cloud • On-Premise OPEN PLATFORM • Open architecture • Prebuilt integrations with major SAP products • Integrations with leading ISV partners • Integrations to non-SAP systems • Batch & real time • Inbound & outbound
- 22. THANK YOU! Feel free to connect with me at : Email: james.eardley@sap.com Linkedin: https://www.linkedin.com/in/jameseardley
Notas do Editor
- So what’s a bank to do in the age of digitalization? How can bankers recapture wallet share without having to compete solely on price? Well, it sure would be good to have the knowledge, insight, and mindshare that came with branch banking, but you can’t go home again, and Even if you could, the customers have moved on. Branch banking is now just one piece of the omni-channel puzzle. But maybe, we can recapture at least some of what the branch was all about, but this time through technology and not just people Because for certain, the surest way to greater wallet share is to gain share of mind just like branch bankers once did.
- And that’s where Hybris Marketing comes in. It helps your bank regain the knowledge, insight, and mindshare that branch banking once provided And it lets your bank build share of mind in order to build share of wallet And in the process _
- Meet the customer’s expectations of what a bank should be. Your customers want: Personal and Relevant Customer Engagement Focused on their needs, not the bank’s Leveraging the bank’s expertise in meeting those needs They want personalized advice and offers And they want them in real-time Realistic or not, customers want their Banks to understand them and their needs individually, the way the branch once did, at the point of interaction _ And Hybris Marketing can deliver that Dynamic Adaptation without being “creepy”
- Since we can’t rely on branch bankers to deliver the insight needed for personal relationships We must use technology instead to capture the all of the information available And then consolidate it into a single view Creating the foundation for treating customers as individuals. The problem is that customer data at banks, like in most industries, is all over the place. Compliments of decisions made long ago in a different era. The legacy is a Marketing Technology Landscape in disarray. It’s a fact that Bank Marketers use a lot of channels, but to a greater or lesser degree most of them are still siloed Each representing a separate source of customer data. And the cost and effort to function in this landscape, as you know, is enormous Just as a note, or in case you were wondering, the numbers you see here are from research we recently did with Forrester _
- Data is the fuel that provides customer insight and context. An context, often overlooked, makes the difference in understanding customer intent Bankers need a technology platform that helps them engage with customers and meet their expectations as one bank. They don’t need a point solution for execution And that’s what Hybris Marketing is. It’s an open platform that enables coordinated, real time, contextual engagement across channels And likely you don’t need more data, the data is there. But you do need the ability to complete real time profiles of individual customers, based on: present, past, and predicted behavior. And that’s what Hybris Marketing does.
- Hybris Marketing is fundamentally different in that it allows the contextual, audience of one/bank of one experience that branch bankers once delivered We take everything we know about the customer – what they’ve done, [click] What they’re doing right now [click] And what they may do [click] To engage with the customer, identified or not, in a way that is personally relevant [click] to each one. We do this just the way bankers would have done using implicit and explicit data. Explicit data [click] from transactional systems and other structured sources Implicit data from [click] email responses, call centres, browsing behaviour and other unstructured data
- SLIDE WITH ANIMATION Hybris Marketing is fundamentally different in that it allows the contextual, audience of one/bank of one experience that branch bankers once delivered We take everything we know about the customer – what they’ve done, [click] What they’re doing right now [click] And what they may do [click] To engage with the customer, identified or not, in a way that is personally relevant [click] to each one. We do this just the way bankers would have done using implicit and explicit data. Explicit data [click] from transactional systems and other structured sources Implicit data from [click] email responses, call centres, browsing behaviour and other unstructured data
- Using Hybris Marketing, Banks can market and communicate to an audience of one, or create what we like to call “A Bank of One” experience, to at least partially recapture the personal, in context branch experience of years ago. While Hybris Marketing can do many, many things. It’s easiest to think of it in terms of three powerful capabilities. Insight, and we do this by Capturing and enriching customer profiles using all data from all sources And that let’s us provide an Up-to-the-minute view of the customers’ interests, sentiments, and anticipated behavior Next, is speed and agility and we do this by Optimizing marketing decisions with fully transparent end-to-end, closed-loop marketing processes. Letting you react to opportunities in real time And finally, delivering a superior Customer Experience And we do this by delivering a truly personalized experience based on real-time events,
- You can also think of Hybris Marketing using a more granular out-of-the-box approach by looking at the marketing scenarios that it provides for, so: Customer Profiling Capture and enriching customer information to create a real-time view of customers and interactions Segmentation and Campaign Management Identifying target audiences and personalising your messages across channels Commerce Marketing Creates a personalized customer engagement Marketing Resource Management Gives you the ability to manage operational complexities and to orchestrate and optimize resources. Marketing Analytics Let’s you optimize marketing and respond quickly to opportunities with real-time insights Marketing Lead Management Qualify buyers and monitors success, and also drives collaboration between marketing and sales And finally Loyalty Management Which goes beyond traditional card-based loyalty programs to gain insights and drive behavior
- Hybris marketing come configured for maximum success. Offering quarterly releases that Let’s you take advantage of the latest innovations An open platform Using a flexible and open architecture that provides a single point of integration with any 1st or 3rd party application. Including pre-built integrations with leading ISV’s such as Facebook, Google, Sprinklr, Turn etc. And finally flexible deployment You can choose from on-premise, private cloud or public cloud (using S4/HANA, marketing cloud edition)