Track: Analytics in Action
Thursday, March 14, 2013
People have been talking about 1:1 marketing forever. Today, big data, connecting online and offline, and data-driven analytics dominate the headlines, yet the fundamentals are still the same. At the core, it is about relevance, and thats when you make money. Join us as we share Bank of Americas relevance story and how they are using data and analytics to begin realizing the promise of 1:1. See their approach, understand the challenges establishing the baseline, and see the real opportunities they uncovered along with how they are driving towards optimizing each and every customer interaction across channels and products.
Banks are right to devote significant time and resources to making sure the metrics they use to assess the client experience are accurate and appropriate for their business. However, despite the ongoing debate over the relative merits of various approaches, the selection of a measurement tool is only the firstand definitely not the most importantstep in establishing an effective client experience measurement program. In the end, whether a company elects to use traditional customer satisfaction approaches, enhanced metrics of client commitment or even more sophisticated measures like net promoter score, that selection is less important than how the company uses CEM results to drive change.
That message is all-too-often lost amid sales pitches from vendors and consultants looking to prove superiority of their own methodology. The specific measurement approach employed in the program is merely one tool in that effort. As long as the measurement tool is properly calibrated for the business and managed effectively, it will deliver useful results. The success of the program will be determined by the banks ability to deploy an organizational process that creates internal buy-in and ultimately changes the culture.
This session will introduce the highly successful approach that Regions Bank deployed over the past three years an approach that relied on analytics first and on bank-leaderships sustained trust in that analysis.
In the New Normal marketing environment, banking executives must leverage every opportunity to deliver a great customer experience. Leading edge firms are taking advantage of data and analytics to provide personalized customer interactions through every inbound channel. This presentation will demonstrate how banks are using real time decisioning to better engage customers, leading to lower attrition, higher customer satisfaction and increase profitability.