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Transforming Financial Services Marketing through Customer
Intelligence
March 6, 2012
This document is solely for the presentation of confidential PNT information. No part of it may be circulated, quoted, or reproduced for distribution outside the organization to which it was presented without prior written approval from PNT Marketing Services, Inc. This material was used by PNT Marketing Services during an oral presentation, it is not a complete record of the discussion.
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Transforming Financial Services Marketing Through Customer Intelligence 2
A leading provider of Customer Intelligent database marketing
PNT background
March 6, 2012
The Customer Intelligence Company
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Transforming Financial Services Marketing Through Customer Intelligence 3
Two important themes:‹ Customers are the most important element of any business,
from whom all profits flow - but we don’t know enough about what will keep them happy, loyal, and profitable
‹ At the same time, we are awash in a huge and growing “data deluge” which we suspect can help us solve the problem - if only we weren’t drowning in it, and knew what it was trying to tell us
Background
March 6, 2012
Why Discuss Customer Intelligence?
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Transforming Financial Services Marketing Through Customer Intelligence 4
‹ Most “Business Intelligence” (including CRM) implementations fail to deliver their ROI potential
Background
March 6, 2012
Why Discuss Customer Intelligence?
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Transforming Financial Services Marketing Through Customer Intelligence 5
…the art and science of building deeper, more mutually-profitable relationships with your customers through actions based on insights generated from everything you know about them
Definition
March 6, 2012
Customer Intelligence is…
Customer Intelligence (CI):Build deeper, more profitable relationships with customers and improve strategic decision making with insights generated from your existing customer data.
Transforming Financial Services Marketing Through Customer Intelligence 6
• Customer Intelligence Obstacles
March 6, 2012
Obstacles
Leadership (Do the seniors buy in?)
Organization (Is the organization aligned?)
Technology (Do we have the right tools?)
Data (Do we capture the right data? Are
data in silos?)
Actions (Do we know how to act on insight? Are we taking enough
action?)
Insights (Do we know what a useful insight
would look like? Are we generating insight or
just more data?)
Channels (Do we have multiple channels open
to our customers?)
Measurement (Do we know what the right
metrics are? Do I have what I need at the
customer – not product or organization – level? Do I have a holistic view of the entire customer relationship across the entire organization?)
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Focus on customers:‹ organization, technology, product/service, channels
Cross silos:‹ organization, technology, product/ service, channels
Think small:‹ project vs. enterprise, guerilla vs. official, independent vs.
bureaucratic
Think big:‹ organizational impact, customer impact, revenue impact
Think fast:‹ quick hits, test, revise, iterate
Case Studies
March 6, 2012
What’s Working Now?
Transforming Financial Services Marketing Through Customer Intelligence
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Bank increased Middle Market segment penetration 50%
Case Studies
March 6, 2012
Transforming Financial Services Marketing Through Customer Intelligence
Middle Market Banking
15%
24%
10%
15%
20%
25%
30%
Created a unified database of customer and prospect data from multiple operating systems and 3rd party data sources
MetroMatch™ householding re-aggregated existing relationships, to benchmark accurately, reflecting true complexity of commercial relationships
Uncovered segment-specific opportunities
Implemented tactical marketing programs for relationship manager with specific product/service recommendations, lists, and follow-up support
‹ Results included almost $100MM in incremental customer net revenue annually within four years
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Transforming Financial Services Marketing Through Customer Intelligence 9
Major B2B services provider sells multi-million-$ business services to Fortune 500 C-suite executives thru a dedicated high-level sales force
‹ Efforts hampered by fragmented view of large, complex relationships that were being triaged rather than supported systematically
Case Studies
March 6, 2012
High-Value Business Services
Before After90
95
100
105
110
115
100
107
Renewal Rates
Before After85
90
95
100
105
100
90
Attrition Rates
Before After9095
100105110115120
100
120ROI
Created database of all complex relationship data sourced by the sales team, augmented with 3rd party data from multiple sourcesSupported sales team with accurate, targeted lists for events with influencers
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Transforming Financial Services Marketing Through Customer Intelligence 10
“Why do we believe so passionately that your company should make [a] dramatic shift and organize itself around customers?
‹ Customers are the only source of revenue and profits.‹ Knowing each customer’s profitability or unprofitability, and
the reasons for it, is critically important to creating winning value propositions that will drive your stock.
‹ Understanding customers’ different needs and behaviors is central to serving them most profitably
‹ Obtaining and analyzing this information used to be overwhelmingly difficult but now is practical
‹ Therefore, centering the company on customers is the way to go.”
– Larry Selden and Geoffrey Colvin, in “Angel Customers and Demon Customers”
March 6, 2012
The Final Word
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‹ [email protected]‹ 888.PNT.2210 x202 toll free‹ 914.588.7278 mobile‹ www.pntmarketingservices.com
Contact
March 6, 2012
Transforming Financial Services Marketing Through Customer Intelligence
Tony Coretto
