stop talking customer-centric, start being customer-centric

Stop Talking Customer-Centric, Start Being Customer-CentricWhat Every Business Needs to Know to Achieve Customer Centricity

WEBINAR

Cindy VandecasteeleVP, Product Strategy

NGDATA

2 Copyright 2017 NGDATA®, Inc.

Customers are in the Driver’s SeatYour customers are now in the driver’s seat.

3 Copyright 2017 NGDATA®, Inc.

The need to meet and exceed increasing customer expectations

Simple & Intuitive

DynamicCustomization

Easy for Any Device

Customer Empowerment

Data-Driven

Digital Innovators are constantly raising the bar for customer experience and channel preference

Simple and Streamlined

Empowering

Opportunities to Connect

Anytime, Anywhere

Continuously Improving

Adding Value

4 Copyright 2017 NGDATA®, Inc.

• It’s easy for customers to switch providers• Customer loyalty has decreased• Customer trust is a an all time low

“If Google, Amazon, Facebook or PayPal offered banking services, 40% of 18-34 year olds would be likely to bank with them.”

- Accenture

5 Copyright 2017 NGDATA®, Inc.

BUSINESS to CONSUMER CONSUMER to BUSINESS

• Product-centric • Few channels, one-way

communication • Mass-segmentation• Limited customer feedback• Decisions based on experience• Reactively respond to customer

needs

• Customer-centric, driving customer advocacy

• Bi-directional communication via customer channel of choice

• Segment-of-one • Rich, real-time customer learning• Decisions based on data• Proactively respond to anticipate

customer needs

6 Copyright 2017 NGDATA®, Inc.

Imagine a world where businesses could identify opportunities and concerns associated with each of their customers before they happen—and then take action by delivering relevant, valued messages and offers to them in real-time.

That’s the promise of customer centricity.

7 Copyright 2017 NGDATA®, Inc.

“Empowered customers are shaping business strategy. Simply put, customers expect consistent and high-value in-person and digital experiences. They don’t care if building these experiences is hard or requires a complex, multifunction approach from across your business. They want immediate value and will go elsewhere if you can’t provide it.”

- Forrester Research

8 Copyright 2017 NGDATA®, Inc.

9 Tips to Achieve Customer Centricity

OFFERTHE RIGHT

PERSONTHE RIGHT TIME

THE RIGHT

CHANNELTHE RIGHT

LOCATIONTHE RIGHT

9 Copyright 2017 NGDATA®, Inc.

It Starts From the Top

TIP #1

10 Copyright 2017 NGDATA®, Inc.

• Vision and leadership are keys for success• Customer centricity requires that everyone be on board• “Movers & shakers” can start building “islands of customer centricity”• Departments are dependent on others to provide an exceptional customer experience

11 Copyright 2017 NGDATA®, Inc.

It’s a Value and a Mindset -Ensure Employee Buy-In

TIP #2

12 Copyright 2017 NGDATA®, Inc.

Customer experience: “The customer's perceptions and related feelings caused by the one-off and cumulative effect of interactions with a business' employees, channels, systems or products."

Customer experience management: “The practice of designing and reacting to customer interactions in order to meet or exceed customer expectations and to increase customer satisfaction, loyalty and advocacy.”

- Gartner

13 Copyright 2017 NGDATA®, Inc.

• All employees are part of a larger system: the organization• Achieving customer centricity requires the right system and removal of barriers

• Remuneration• Information• Empowerment

14 Copyright 2017 NGDATA®, Inc.

Customer-Centric by Design

NGDATA’s Lily Enterprise: One Solution Powering a Smarter Customer Experience

15 Copyright 2017 NGDATA®, Inc.

You Get What You Measure

TIP #3

16 Copyright 2017 NGDATA®, Inc.

17 Copyright 2017 NGDATA®, Inc.

Don’t Forget the Wider Eco-System

TIP #4

18 Copyright 2017 NGDATA®, Inc.

Make your suppliers your partners:• Let them in on your customer-centric vision• Have your customer KPIs translated into their contracts• Empower and reward them to improve the customer experience

19 Copyright 2017 NGDATA®, Inc.

Fortune 50 US Retail Bank

Merchant Funded Offers

• Client Objective:

o Increase credit card transactions, targeting 10M mobile users

o Enhance relationship with bank merchants, hoping to increase uptake on offers from more than 10K merchant ecosystem

• NGDATA Solution:

o Used Lily Enterprise to make offers based on preferences, propensities, behavior and location

Knowledge of customer preferences based on internal (card transactions, merchant information, mobile device logs (location)), and a variety of external sources, including social data

Recommendations made were relevant to the individual, at the right time and location

Realized LIFT between

50% - 100%

Significantly increased redemption rates

20 Copyright 2017 NGDATA®, Inc.

TIP #5

Collaborate Cross-Functionally -Organize Around the Customer

21 Copyright 2017 NGDATA®, Inc.

“By 2020 you won’t call your bank accounts “checking” accounts. By 2022 banks won’t have a head of cards or a cards division. You won’t differentiate between small business bank accounts and retail banking — customer behavior is what will differentiate the use of a value store. A mortgage will be part of a home buying experience, not a separate experience. If you choose to own a car, you’ll order a car with or without financing, but you won’t ever sign a piece of paper — the only thing you’ll need to do is nominate how much you want to pay each month and where the money for those payments will come from.

This is going to take a complete, from the ground up, rethink of every product in the business as we re-task it for real-time engagement, and it has already started. 2017 is the year where bankers start to have to deal with it in earnest.

This is what disruption in banking really looks like…”

- Brett King, “Bank Products Are Dead. Long Live Experiences!”

22 Copyright 2017 NGDATA®, Inc.

CMO/CXO, CIO and CDO All Benefit From Lily Enterprise

Lily Enterprise Enables the C-Suite in Today’s Perfect Storm

CMO/CXO CDO

CIO

Maximize Value From the Customer

Relationship

Maximize Value From Data &

Analytics

Realize Value From Big Data Lake Investments

23 Copyright 2017 NGDATA®, Inc.

TIP #6

Make Every Interaction a Connection

24 Copyright 2017 NGDATA®, Inc.

The customer journey is no longer a linear process, but rather a more complex and convoluted experience with multiple channels and devices involved.

Every interaction with a customer should be seen as a “moment of truth.”

25 Copyright 2017 NGDATA®, Inc.

Value Delivered from Customer Lifecycle Optimization

Lily Enterprise: Delivering Value Throughout the Entire Journey

Customer LoyaltyChurn reduction 16%

Overall Journey SatisfactionNPS +15 ptsMargin +4-5%

Advisor SupportCustomer Satisfaction +30%Support Cost -30%

Ad Targeting/Personalized AdsPrecision +65%Ad waste -58%

NBO/NBA Conversions x4-5

ExperienceSupport, Service

BUYMarket, Sell, Renew

Driver = Revenue

Driver = C-Sat/Advocacy, Efficiency

Personalization/CommunicationUpsell +25%

26 Copyright 2017 NGDATA®, Inc.

TIP #7

Provide Opti-Channel Engagement

27 Copyright 2017 NGDATA®, Inc.

Truly customer-centric organizations are opti-channel – they offer their customers a “beyond channel” customer experience: consistent, integrated and seamless, no matter which channel your customers choose to use along

their journeys.

That’s opti-channel. That’s customer-centric.

Lily Enterprise’s Living Customer DNA:Real-Time, Atomic Customer Profiles

28 Copyright 2017 NGDATA®, Inc.

TIP #8

Use Your Data to Build Living Customer Profiles

29 Copyright 2017 NGDATA®, Inc.

Data Silos

The Big Enterprise Challenge

30 Copyright 2017 NGDATA®, Inc.

Lily Enterprise’s Living Customer DNA

31 Copyright 2017 NGDATA®, Inc.

Living Customer DNA

32 Copyright 2017 NGDATA®, Inc.

…Available for ALL of Your Customers

33 Copyright 2017 NGDATA®, Inc.

Resulting in More Efficient & Effective Data-Driven Marketing Actions

34 Copyright 2017 NGDATA®, Inc.

TIP #9

Learn From Customer Feedback

35 Copyright 2017 NGDATA®, Inc.

Plan-Do-Check-Act

Aim for continuous learning, continuous improvement

36 Copyright 2017 NGDATA®, Inc.

Interactions Decisions

Feedback

Alerts

Lily Enterprise: Closed Feedback Loop

Continuous Monitoring

Customer DNA

37 Copyright 2017 NGDATA®, Inc.

Ready to Start Your Journey to Data-Driven Customer Centricity?

38 Copyright 2017 NGDATA®, Inc.

Build Your Roadmap to Customer Centricity with NGDATA

The Use Case Roadmapis Underpinned by an Evolution

Use Case 1:

ACQUISITION & CROSS-SELL

“Personalized Banners”

WebInbound Targeting

Use Case 2:

CROSS-SELL &SERVICING

“Personalized Communication”

Online/Mobile BankingInbound Targeting

Use Case 3:

RETENTION

“At Risk Customer Calling”

Web Inbound Targeting

Use Case 4:

UP-SELL

“Personalized Offering Video”

EmailOutbound Targeting

Determine “Impact” vs. “Effort”

Start with ”Quick Win”

Gradually Bring in Complexity

USE CASEPRIORITIZATION:

1

2

3

39 Copyright 2017 NGDATA®, Inc.

NGDATA Roadmap Methodology

40 Copyright 2017 NGDATA®, Inc.

Become Truly Customer-Centric

Marketer View (ROI & Customers) Through Lily Enterprise

Get Single View of the Customer with Living Customer DNA

Get Insights to Trust with Smart Messaging

Get Dynamic, Actionable Segments with Real-Time Data

Get Precision-Targeting with Sets

Get Opti-Channel Customer Experience with Alerts & Triggers

Get Customer Journey Optimization with Multi-Channel Integration

Get Personalization with Multiple Use Cases

41 Copyright 2017 NGDATA®, Inc.

Thank you. Any questions?

NGDATA’s customer experience operating system (CX-OS), Lily Enterprise, is the central nervous system of the customer-centric organization, and a single solution to power your customer experience.

Connect With Us.

cindyv@NGDATA.com

www.NGDATA.com