360 360 360 inovativni i premium gorenje aparati i kuhinje po ...
Top 4 Customer 360 Use Cases for Banks
-
Upload
allsight-inc -
Category
Data & Analytics
-
view
596 -
download
0
Transcript of Top 4 Customer 360 Use Cases for Banks
Thestatusquoisn’tgoodenoughanymore
88% of customer data is ignored
6% drop in cross-sell rate for banking customers in the last two years
57% win rate for traditional banks cross-selling loan products
67% of customer churn is due to only 1 bad experience
2
AnewapproachtoCustomer360willpayoff
$5BIn banking cross sell
revenue with a 5% win rate improvement at the
top 25 banks
80% Of churned banking customers
said they would have been retained if the issue was resolved on the first call
3
Informationisfragmentedacrossmanysystemsandmustbesynthesizedtocreateacustomerprofile
4
Core banking system
On line banking
Demographics Branch interactions
Credit card processing
Service center
RelationshipsSocial profiles
5
Sentiment
Life events Churn, risk, & value
Personality
Influencers
Alerts
Inferred demographics
Customer journey
Proximity & location events
Insightscanbederived toturnacustomerprofileintoanintelligentCustomer360
HavinganintelligentCustomer360willimpacteverystepofthecustomerlifecycle
Acquire new prospects and customers
Improve the Customer Experience
Expand the Customer Relationship
Retain the Right Customers
6
7
1
Acquire
• Micro-segmentation of high potential prospects for anchor products such as checking accounts and mortgages
• Build targeted campaigns based on banking transaction, life events and interactions
• Anonymous prospect identification for abandoned quotes
• Prospect journey mapping and optimization from digital to branch service transactions
8
Improve
• Customer survey feedback analytics to understand root cause of NPS detractors and passives
• Target NPS “Passives” with personalized offers and service to improve them to “Promoters”
• Identify and eliminate friction points such as unexplained fee increases
• Personalize the digital to physical omni-channel experience
• Detect fraud by identifying relationships and suspicious activity
2
9
3
Expand
• Self-service data access and discovery for marketers
• Customer journey mapping from branch to digital banking
• Intelligent product recommendations based on customer needs analysis
• Micro-targeted cross-sell and up-sell campaigns for profitable additional product such as credit cards and loans
• Identification of high net worth individuals
10
Retain
• Discover indicators of relationship decline such as being locked out of online banking
• Churn indicators and retention actions derived from banking transactions and service interactions
• Customer journey optimization from online to branch
• Personalize customer service by prompting tellers and CSRs with actionable customer intelligence
• Manage the retention/renewal journey
4
UseaCustomer360togaintruebusinessvalue
11
ü Customer segmentation for more targeted marketing campaigns and personalized offers
ü Greater share of wallet due to more effective cross/up-sell campaigns
ü Better customer service resulting in reduced churn/increased loyalty