Customer Service by Social Listening

Customer Service by Social Listening

Agenda:

Digital Bank: Context, Overview & Expected Benefits

Why Social is a must?

How KPIs to Measure?

Q&A

Where to Start?

2 Copyright © 2014 Accenture All rights reserved.

I am already Social – Is it good?

This was good until 2 years back.

Social Media

Because, I am

listening on

Facebook, Twitter

Bank


I am already Social – Is it good?

Today’s consumer/customer

EXPECTS

more from banking.


Digital Bank – An Overview

What does it mean?


Scorecard for

campaign

effectiveness

Feedback

score for

customer

satisfaction

Newsletter

Effectivene

ss Report

customer

profile

Analysis

Feedback

Survey incl.

opt-in for

Newsletter

Use Case: Applying for new Loan

From unknown to a new brand advocate

To

uc

h

Po

ints

A

cti

vit

ies

Potential Customer Proactive

C B

Fu

nc

tio

ns

Product

Personal

Loan

Ja

ck

`s e

xp

eri

en

ce

2.

Asks in social

networks

3. Engage with

Brand via Loan app

application

4.

Submits the loan

application

6.

Tracks Repayment

history

7.

Uses Money advisor

Jack Needs some urgent cash for personal needs

SOCIAL CONTENT

USER EXPERIENCE

MARKETING

ANALYTICS,

CRM SALES

Big

Da

ta /

An

aly

tic

s

5.

Amount Credited to

him

Market

analytics

‘Be

st’

Ban

k

8.

Share experience

9.

New Brand Advocate

CAMPAIGN

MANAGEMENT

SOCIAL

BRAND

MANAGEMENT

INTEGRATED CORE BANKING

SOCIAL COLLABORATION

CRM FEEDBACK

MANAGEMENT,

GAMIFICATION,

SOCIAL

ADVOCACY

1.

Need

Own Social

networks,

Bank’s fb

page

Discover O

Social App with CIBIL & CRM

connect Marie Call Center Agent

Apply O Fulfillment O

Easy

Repayment

options

Maintenance O

Personalized

Newsletter on

Money

advisor

Cross Sell

Social

Networks,

Bank portal

Advocacy

Social Campaigns,

Bank Portal

Qualified Brand

Advocate

O

Web Portal,

Google,

Newspaper

Discover O

We inform We sell We advise We service

We sell through service We retain

Customer

Journey

Best

Bank

Awareness Buy/apply Enquiry I want to

renew Use & maintain

Receive/

Setup (fulfil)

P O O

DIGITAL

MARKETING

Key

Highly Social Paid

Owned

Earned

P O E

Medium to Low Social

Influencer

Analytics

Channel

effectivenes

s Analysis

CRM Sales

analytics

Digital

Analytics

Unified User Experience


http://www.google.ch/url?sa=i&source=images&cd=&cad=rja&docid=Tyw8Tr8o8vk_sM&tbnid=Rzjrxu5SxnKF3M:&ved=0CAgQjRwwAA&url=http://commons.wikimedia.org/wiki/File:Facebook_like_thumb.png&ei=DNksUr7fG8eBhAeRyIC4Bg&psig=AFQjCNH6KzR7EX23bhLO-LERC0Myfhpj3g&ust=1378757260544844

http://www.google.ch/url?sa=i&source=images&cd=&cad=rja&docid=Tyw8Tr8o8vk_sM&tbnid=Rzjrxu5SxnKF3M:&ved=0CAgQjRwwAA&url=http://commons.wikimedia.org/wiki/File:Facebook_like_thumb.png&ei=DNksUr7fG8eBhAeRyIC4Bg&psig=AFQjCNH6KzR7EX23bhLO-LERC0Myfhpj3g&ust=1378757260544844

Digital Bank – What benefits to expect?

Cost Optimization

• Reduced Marketing & Campaign

Budgets

•Digital channels

•Reusable Digital Content

•Social Influencers for higher

Penetration/reach

•Agility in campaign management

• Enhanced Sales channel

•Reduced cost per lead

•Higher collaboration

•Enhanced lead qualification

• Service Cost Deflection

•Self help communities

•Integrated Social channel with CRM

•Social Customer Care

Higher Brand Presence

• Share of Voice

• Channel based KPIs

• SLA based Listening

• Enhanced Sentiment Analytics

• Key Influencer Analytics

• Trending topics management

Process Efficiency

• Unified experience through

integrated channels

• Real Time data collaboration

leading to reduced TAT

• Advanced Search

• “Gamification” based resource

involvement

• User Specific Social Content –

Personalized relevant customer

experience at scale

• Efficient Marketing, Campaigns,

Sales and Service processes

based on Advanced Analytics

Benefits

Cost Optimization Brand Presence Process Efficiency

$

$


Agenda:




Q&A

Where to Start?


Why Social is MUST?

“Social Media” is just another channel (internal & external) for communication and sharing but a very

PROMINENT one because everyone is using it.

About 11+ billion Social accounts are exists on just 180+ social sites

• 130 average FB connections

• 340 M tweets every day

• 575 likes per second

• 91% usage of mobile internet is for social

• 80% prefer to connect with brands on FB

• 83% unsatisfied SM customers walk away

Almost all B2C industries use Social Media for marketing

sales / Service :

• 83% Brands use FB for marketing

• 85% increased business exposure

• 63% increased website traffic

• 52% increase in qualified leads

• 48% felt reduction in overall marketing spend

“and YOUR COMPETITION IS SERIOUS ABOUT IT”


Social Customer Strategy – Who is responsible?

Copyright © 2014 Accenture All rights reserved. 10

Agenda:




Q&A

Where to Start?


First ask

WHY? HOW?

Then ask

• Customer acquisition?

• Product development & innovation?

• Customer experience & service?

Where to Start?


Where to Start – Organizational Alignment?

Source: Social Media Framework by Accenture


Social Cell – Needed?

Structured

Data

Unstructured

Data

Listen /

Monitor

Mine /

Understand

Extract Insights /

Intelligence

Measure

Act /

Engage

Insight

Engage

Sentiment and

Volume Analysis of

conversations

Text Analytics

Engine

Social Cell


Social Maturity - Journey



Agenda:




Q&A

Where to Start?


What KPIs to Measure?



Listen to what your consumers and fans are talking about you and about the services they expect from

banks. This will lend first hand market insights to the banks, mainly in developing innovative products and

service delivery methods.

Listen ‘holistically’ to your customer conversations to

understand emerging needs

The fundamental principles driving social media engagement should be:

Listen to customer

conversations On owned brand pages

On external social media using

appropriate tool(s)

Analyze customer

conversations

• Identify initiatives that drive fan

growth (e.g: offers and

promotions associated with

Facebook ‘Like’)

• Identify content type(s) that drive

engagement (e.g: videos

especially developed for social

media, informational content

about impact of economic

principles)

• Identify key themes of conversations

(e.g: customer complaints, personal

loans)

• Associated emotions and sentiments

• Brand advocates and detractors

• Top avenues of conversations (Indian

consumers frequent

consumercomplaints.in for bank

related issues)


Banks need to be responsive and engage with their fans, to build an active and strong community. This

will demonstrate the commitment banks have towards their social media involvement along with

developing brand advocates.

Engage with your fans to increase community effectiveness

The fundamental principles driving social media engagement should be:

What Banks Should Do Still,…. What Banks Need to Make Sure They Do

Be transparent Ensure all rules from regulatory bodies and company principles are

followed

Streamline replies Maintain ‘human’ face of the brand – replies should not look like they are

automated

Empower your front line Recruit the ‘right’ people who understand the regulations as well as the

impact of improper replies gone viral

Be responsive and responsible The front line has access to the other relevant departments and data


CRM Modules

Social Channels

Web Services

Clie

nt E

AI

Owned Media

Customer

Case (SR)

Social Monitoring Tool

Dashboard

Reports

Dashboards

Text Analytics Tool

Database

Client FB

Page

Client Twitter

Handle

Accenture Custom

Tool

Content Management Tool(s) Engagement

Social Sites (Facebook, Twitter,

Blogs, Forums etc)

CR

M

We

b S

erv

ice

s

Leads

Cases

Accounts

Lead Mgmt Leads

Monitoring

Agent

Console

Workflow

Mechanism Cases

Leads

Sample Architecture

1. Social monitoring tools listens across social

properties

1. Custom configuration of Engagement tools

to allow agent to engage with social media

users/ customers directly and fetch

appropriate information

Leads and Service request identified at

monitoring tool are pushed to CRM system.

Export monitoring tool results. Rehydrate

truncated posts (if required) by Accenture

Custom built tool

Posts uploaded into Text Analytics tool, to

perform advanced categorization and

sentiment analysis

Classify interactions as leads or case and

send the same to CRM. (Case will be sent

when they have customer identifier).

Leads’ data is used in campaigns via

existing process.

Use Content Management Tool for

publishing content on Owned Media

1

2

3

4

5

6

7

Solution Summary

8

1 2

3

4

5

6

7

8

How do I connect to existing CRM?


Agenda:




Q&A

Where to Start?


Appendix – Sample Reports


Cards (Debit/Credit)

Accounts and Interest Rates

Investments EMIs

Loans

ATMs and Branches

Phone Banking

Netbanking

Commercials

ICICI

SBI

Citi bank

Bank of Baroda

Bank of India

Union Bank of India

Allahabad Bank

Share of Voice by Company & Products and Services


Counterfeits

Nestle Business Services / DSU / Digital Marketing Team

(Copyright)

1696

Competitor

Distribution Channel

2249

4507

`

+

+ +

Online

Store

Purse

Wallet

Tote

Shoulder

Clutch

+

+

Replica

Fendi

Louis

Chanel

Prada

+ Burberry

+ + +

+

Cheap

+

Gucci Outlet

Hobo

Messenger

Coach

Lauren +

+

Versace

+

Outlet

+ Fake

Wholesale

+

Mulberry +

Bag Types

Affordable

+

3121

Fashion Sense

2018

+

Style

+

Fashion

+

Look

+ Classic

+ Vintage +

Young

+ Trendy

+ Simple

+

Popular

Brand Reputation

1360

Italy

Designer

Luxury

Brand

Expensive

Craft

World

Emotions

Like

Want

Love

1573

Total conversations : 16,524 Period of Study: Sep’12

Keywords with high (500+) frequencies:12

25

Documents

Customer Service by Social Listening