Financial Services Customer

Experience Breakfast Briefing

Edinburgh – October 2015

London – November 2015

2

Agenda

• Welcome and Introduction – Peter Simpson

• Blending religion and science to create profitable customer experiences - Jack Springman.

• Using Qlik in all areas of customer management

– Customer Experience Management – Matthew Stephen

– Sales Performance and Profitability – Duncan Ash

• Wrap up / next steps – Peter Simpson.

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Jack Springman -

Head of Customer

Analytics

Matthew Stephen -

Principal Solution

Architect

Duncan Ash –

Senior Director

Global Financial

Services

Our Speakers

4

We want to hear from you…

@Qlik_UK

Complete feedback sheets

Ask us questions!

NASDAQ: QLIK

Founded in Lund,

Sweden in 1993

Headquartered in

Radnor, PA, USA

36,000 customers and

1,700 partners in more

than 100 countries

High growth rate outpacing market More than 2,000

employees

36,000 1,700 100

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36,000 happy customers

Communications,

energy, and utilities

Manufacturing

and high tech Financial services

Healthcare and

life sciences Retail and services Public sector

Jack Springman, SopraSteria

Blending Religion &

Science…

BLENDING RELIGION AND SCIENCE TO CREATE PROFITABLE CUSTOMER EXPERIENCES Qlik Breakfast Briefing, October 2015

THE SECRET OF GREAT CUSTOMER EXPERIENCE

“You have to create value before you can extract value.” Mike Harris,

Founder of First Direct

“To deliver a great customer experience you just need to do two things – listen to what customers say and act on it.”

Customer Experience Director, Media Company

“The cause is hidden, the effect is visible to all.” Publius Ovidius Naso (Ovid),

Roman Poet

Qlik Breakfast Briefing, October 2015 9

WHERE ARE YOU INVESTING – CREATION OR EXTRACTION?

Customer insight collection Needs-based segmentation

Personalisation Authentication / security Multi channel availability

Experience monitoring Query / issue resolution Complaint management

Advertising / branding Value segmentation

Propensity modelling Churn modelling

Deposit elasticity modelling Pricing management

Campaigns / promotions Branch / telephony sales

Conduct Risk– June 2013

Business case - Easy Business case - Hard

Value Creation

Value Extraction

Qlik Breakfast Briefing, October 2015 10

SOURCES OF VALUE TO CUSTOMERS

Better Rate / Fees

Indirect Savings

Quality

Convenience / Time Saving

Flexibility / Choice

Responsiveness

Security

Feel Good

Financial Functional Emotional

Qlik Breakfast Briefing, October 2015 11

“What is the benefit of the benefit?”

OPPORTUNITY FOR CREATING EMOTIONAL VALUE IS GREATEST AT MOMENTS OF TRUTH

What? Why? When? Qlik Breakfast Briefing, October 2015 12

REBALANCING YOUR MARKETING TALK-LISTEN RATIO

Qlik Breakfast Briefing, October 2015 13

‘God gave us mouths that close, and ears that don't. What does that tell us?’

James 1:19

‘We have two ears and one mouth so that we can listen twice as much as we speak.’

Epictetus

“Our philosophy has been to take most of the money we would have spent on paid advertising and invest it into customer service and the customer experience instead, letting our customers do the marketing for us through word of mouth.”

Tony Hsieh, CEO, Zappos

IMPROVING THE QUALITY OF LISTENING

Why can’t I … biometric capability …. life much easier?

First you … then you… wasting my time… wasting your money

Where can I… Why don’t you…. interactive application ….?

Qlik Breakfast Briefing, October 2015 14

FINDING THE ROOT CAUSE FOR DEFECTION

Qlik Breakfast Briefing, October 2015 15

Issue: Pricing

Why did you close your savings account?

I noticed Bank B was offering a better deposit rate than you were giving me

Issue: Media Presence

Why did Bank B’s rate come to your attention?

I saw it advertised in the Saturday newspaper

Issue: Advertising Impact

Why did you notice this particular advertisement?

I was looking at what others were offering and this caught my eye

Issue: Customer Service

Why were you looking at what others were offering?

I had become increasingly unhappy with your service. I felt it had been very poor on a number of occasions.

Issue: Service Staff Recruitment and Training

Why were you unhappy with the service? What about it was poor?

Once when I called, the person at the other end was completely useless and couldn’t answer my query. It took ages to find someone who could help me but I was cut off as they were transferring the call. Then they didn’t call me

back and when I did get through again, the next person was more concerned with saying it wasn’t their fault rather than apologising for the inconvenience I had been caused.

On another occasion the person I spoke to…

CAUSAL MI FRAMEWORK

Process Metrics Experience Metrics Outcome Metrics

Levers for influencing customer experience that

company controls

How experiencing these processes make customers

feel

How customers feelings about company impact business performance

Qlik Breakfast Briefing, October 2015 16

Create Value Listen Extract Value

Duncan Ash, Qlik

Innovations in

Customer

Management

& Profitability

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Sales process optimization

Profitability attribution

In-branch Analytics

Wealth management

Digital channels transformation

Financial planning & modeling

Risk management

Pricing optimization

Activities driving Innovation in Financial services

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Qlik’s Associative Model

• Enables users to probe all the possible associations that exist in their data, across all data sources

• Freely explore complex information – ask any questions, in any direction, through simple searches and selections

• The QIX Associative Data Indexing engine responds after every click

– Dynamically recalculates analytics to the current context

– Highlights data relationships, including associated and unrelated values, across the entire data set

• Not limited by predefined hierarchies or preconceived notions of how data should be related

Matthew Stephen, Qlik

Customer

Experience

Management

Duncan Ash, Qlik

Innovations in

Customer

Management

& Profitability

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Breaking down the customer management process

Analysis required at every step of the process

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Performance Optimization

• Using analytics to cut through complexity in sales:

– Multiple locations, channels, products, regulations, currencies,

languages, time zones.

• Optimizing territories:

– Analysing markets sizes, locations, and distributions.

– Sizing markets correctly, and allocating resources appropriately.

– Allocating balanced territories is key to success.

– Channel capacity planning.

– Customer experience analysis / NPS.

– Service quality

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Simple questions can be difficult to answer:

• Data from CRM systems needs to be joined with finance data.

• Agile analysis is required in order to diagnose cause and effect.

• It is possible to seek out the regions, teams, products, or individuals

who contribute the most to the profit (or loss) of the company.

• When the DNA of a profitable customer has been sequenced it

becomes possible to look for more of the same.

• Enabling sales leaders with profitability data makes them more

effective in managing their businesses.

Profitability attribution

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Branch Analytics

• What is the optimum balance of information to deliver to a branch

manager or financial advisor?

• What are the needs of regional managers?

• Inter-branch P&L?

• Personalized customer recommendations?

• Cross-sell? Service improvement? Bespoke pricing?

• Targeted offers and campaigns?

• Digital channel promotion?

• Service switching?

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Visualization Alone Isn’t the Answer

Source: IDC Digital Universe Study

Data Acquisition

Data Storage

Data Preparation

Automated

Pre Analysis

High

Performance

Databases

Reporting Analytic Apps Embedded

Analytics

Mobility

Collaboration &

Sharing

Visualization

There is a broad spectrum of needs and thus uses of analytics across

any business, all of which are critically important.

Peter Simpson, Qlik

Conclusions

& Next Steps

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Summary

Value Creation vs. Value Extraction

Listening vs. Telling

‘What?’ vs. ‘Why?’

Start small, incremental changes, iterative approach

Talk to us – we’re happy to workshop ideas with you

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Learn More - Qlik EMEA Virtual Forum – 18th November

• Customer stories. Learn

from people who’ve done

it already!

• Networking

opportunities. Meet

1,000’s of your peers

from across EMEA from

the comfort of your desk.

Live chat with partners,

customers and Qlik

experts.

• Product news. Qlik CTO

Anthony Deighton

reveals news about

QlikView 12, Qlik Sense

2.1 and Qlik Cloud.

bit.ly/1MykQf7

Reserve your space: www.qlik.com/uk/Virtual-Forum-UK

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