hdfc bank sip report

Summer Internship Project 2013

Understanding the relevance of customer power

messages by conducting survey

Submitted By:

Sushovan Saha

Roll No: 2012120

Project Guide: Mr. Kaushik Ghate

Vice President & Head-Analytical Marketing

HDFC Bank

Faculty Guide: Prof. Ayesha Gonsalves

Goa Institute of Management

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MEMORANDUM OF TRANSMITTAL

Date: May 31, 2013

To: MR. Kaushik Ghate, Vice President & Head-Analytical Marketing, HDFC Bank

From: Sushovan Saha

Subject: Understanding the relevance of customer power messages by doing survey

Here is the report you requested on May 31, 2013 regarding the Analysis of effectiveness of customer

power messages in HDFC Bank. The Study included the collection of primary data, which was collected in

form of Questionnaire from different ATMs of HDFC bank and further analysed and interpreted.

This project intends to identify the recall rate of Customer Power messages in ATM and netbanking by

HDFC bank customers. It also finds the relevance of Customer Power message to customers and

exploring new product offerings in Customer Power

I sincerely extend my gratitude to Mr. Venkatesh D, Senior Manager, Analytical Marketing Dept. for

providing me the opportunity to undergo the project.

Last but not the least will like to thank all the employees who supported me all around the tenure of

projects.

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Table of Contents

1. Background …………………………………………………………………………………4

1.1 Company Profile ………………………………………………………………………...4

1.2 Business Unit …………………………………………………………………………….4

2. Project Definition ………………………………………………………………………….. 5

2.1 Objective ……………………………………………………………………………….. 5

2.2 Scope ……………………………………………………………………………………. 5

3. Review of Literature ……………………………………………………………………… 6

3.1 What is Analytics? …………………………………………………………………….. 6

3.2 Analytics in HDFC Bank: ………………………………………………………………7

3.3 Analytics Infrastructure in HDFC Bank ………………………………………………8

3.4 Analytical Marketing Process Flow in HDFC Bank …………………………………10

4. Project Flow ………………………………………………………………………………...12

4.1 Understanding Customer Power ……………………………………………………...12

4.2 Knowing Internal datasources of HDFC Bank: ……………………………………...14

4.3 Preparing the questionnaire …………………………………………………………...14

4.4 Data Collection ………………………………………………………………………... 15

4.5 Analysis of Data ………………………………………………………………………..16

4.5.1 Recall rate ………………………………………………………………………16

4.5.2 Message Content Clarity……………………………………………………….17

4.5.3 Time spent for ATM transaction………………………………………………19

4.5.4 Most Identifiable Products in ATM …………………………………………..21

4.5.5 Most Identifiable Products in Netbanking……………………………………24

4.5.6 Comparison with Base for campaign(last 3 months)…………………………27

4.5.7 Relevance ……………………………………………………………………….28

4.5.8 Message type preferred as Customer Power Message ……………………... 29

4.5.9 Probable reason for not noticing Messages …………………………………..31

4.5.10 Likability Factors in a Message……………………………………………… 33

4.5.11 Preference of Channels for communication………………………………… 35

4.5.11.1 For All Age Group ………………………………………………….. 35

4.5.11.2 For Age Group(More than 40) …………………………………….. 36

4.5.11.3 For Age Group(Age upto 40)………………………………………. 38

4.5.11.4 Comparative Study for Preference of Channel …………………… 39

4.5.12 Distinctive Trends & Segments ………………………………………………. 40

4.5.12.1 Family & Relationship Based message Liking ……………………. 40

4.5.12.2 Customers with high ATM usage ………………………………….. 41

4.5.12..3 Customer clicked the Netbanking Lead ……………………………41

5. Takeaways from analysis ……………………………………………………………...43

6. Suggestions based on Analysis ………………………………………………………...43

7. Referrences ……………………………………………………………………………. 44

8. Appendix ………………………………………………………………………………..45

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1. Background

1.1 Company Profile:

HDFC Bank ltd is an Indian financial services company based in Mumbai, Maharashtra that was

incorporated in August 1994. HDFC Bank is the fifth or sixth largest bank in India by assets and

the first largest bank by market capitalization as of 1 November 2012. The bank was promoted

by the Housing Development Finance Corporation, a premier housing finance company (set up

in 1977) of India. As on May 2013, HDFC Bank has 3,062 branches and 10,743 ATMs, in 1,568

cities in India, and all branches of the bank are linked on an online real-time basis. As of

December 2012 the bank had balance sheet size of Rs. 3837 billion. For the fiscal year 2011-12,

the bank has reported net profit of 5,167.07 crore (US$890 million), up 31.6% from the

previous fiscal.

The bank provides services like wholesale banking services, retail banking services and treasury.

1.2 Business Unit: Analytical Marketing, Mahalaxmi, Mumbai

The analytical marketing unit is responsible for the development of analytical frameworks and

statistical models that provide solutions for customer lifecycle management, campaign

operations, portfolio insight, product prioritization for cross sell and up-sell, product propositions

for new launch and driving usage of cost effective channels.

http://en.wikipedia.org/wiki/Market_capitalization

http://en.wikipedia.org/wiki/Housing_Development_Finance_Corporation

http://en.wikipedia.org/wiki/Crore

http://en.wikipedia.org/wiki/Indian_rupee

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2. Project Definition:

2.1 Objective: Understanding the relevance of customer power messages by conducting survey.

2.2 Scope: The project will be helpful to the below mentioned actionable items-

To check whether customer is able to Recall the Customer Power message

shown to them in ATM/Netbanking

Identifying the products recognized by the customer.

Understanding the relevance of Customer Power messages.

Reasons for not noticing Customer Power messages.

Preference of Channels by the customers.

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3. Review of Literature:

3.1 What is Analytics?

Analytics is the discovery and understanding of the meaningful patterns in data. It is valuable in

areas rich with recorded information, where the daily detail records are maintained.

Analytics relies on the simultaneous application of statistics, computer

programming and operations research to quantify performance. Analytics often favors data

visualization to communicate insight.

Firms may commonly apply analytics to business data, to describe, predict, and improve business

performance. Specifically, the arenas within analytics include enterprise decision management,

retail analytics, store assortment and SKU optimization, marketing optimization and marketing

mix analytics, web analytics, sales force sizing and optimization, price and promotion modeling,

predictive science, credit risk analysis, and fraud analytics.

In short Analytics is an experience based science used to predict future using the rules derived

basis past learnings.

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3.2 Analytics in HDFC Bank:

As one of India’s largest banking institutions, HDFC Bank has embraced sophisticated

information technology to pursue its expansion from corporate banking to become a world-class

provider of wholesale and retail financial services. SAS provides a broad range of analytics to

help HDFC Bank make credit decisions, enhance its cross-sell and up-sell marketing, and

comply with strict regulations.

With an unswerving commitment to a world-class technology infrastructure, more than 18

million customers can visit more than 1,700 networked branches in hundreds of cities, use

thousands of ATMs, and take advantage of online and telephone banking.

Over the years IT investments and deployments have evolved into the foundation for even

greater value than streamlined transaction processing. Drawing on their massive volumes of data

– managed in large data warehouses – HDFC Bank is using sophisticated solutions from SAS to

generate an entirely new class of analysis and insights relating to customer relationship

management, regulatory compliance, credit assessments and more.

SAS, combined with the bank's CRM solution, helps HDFC Bank model its customer data and

assign propensity to buy, spend and (for credit and debit cards) activate. SAS helped the bank

target sales communications to its customers thereby reducing the number of calls each customer

receives. Additionally, the highest-performing, highest-margin strata of customers - the

"Imperia" customers – receive an almost concierge-like experience with aggressive, attractive

pricing and multiple cross-selling offers. They are able to reach a greater number of higher-

margin customers at far lower cost."

Today, more than 70 percent of HDFC Bank's credit card portfolio is a result of cross-sales to

existing customers of standard liability products, such as savings and salary accounts.

http://www.sas.com/technologies/analytics/

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3.3 Analytics Infrastructure in HDFC Bank:

The analytics infrastructure of HDFC bank can be divided in the following four stages.

Reporting

Analysis

Monitoring

Prediction

A. Reporting: This part mainly talks about what happened till now. In this stage different

queries are executed to find out the details related to the objective of the research. Adding

to that various searching tools are used which accelerates the data finding procedure.

The complexity of this part is low and also business value is less compare to the other

stages.

B. Analysis: This stage deals with the query why the events happened. Different Online

Analytical Processing tools(OLAP) and visualization tools are used here.

The complexity of this part is greater than the reporting stage. Business value also

increases in comparison to the reporting stage.

C. Monitoring: In this stage dashboards and scorecards are prepared to find out to what is

happening now.

This stage is more complex compared to the previous two stages and also it has a greater

business value than the previous stages. The scorecards are prepared in this stage by

using complex statistical measures which gives a target customer to the company in low

cost option.

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D. Prediction: In this last stage of analytics future is predicted based on the outcome of the

last three stages. The business finds the answer of what can happen in future in this stage.

The complexity of this stage is maximum and so is the business value. The revenue of the

company and growth in business of the company by using the analytics is largely depends

on this stage.

10

3.4 Analytical Marketing Process Flow in HDFC Bank:

The process of analytical marketing unit can be divided into three main stages mainly. The stages

are Customer Analytics, Campaign Operations and Tracking and MIS.

The details of the various sub-stages are given below.

A. Customer Analytics: The various operations involved in this stage are Business Briefing

and discussion, Data Access and Extraction, Data mining & solution development and

finally validation & presentation.

B. Campaign Operations: Campaign operations like creating the Campaign in UNICA,

Campaign RUN, exclusions from campaign base and quality check is done in this stage.

After all the previous stage is completed successfully the campaign is launched at the end

of this stage.

C. Tracking and MIS: Campaign evaluation and MIS creation is done in this stage and

from that Analytical solution is found out.

The detail process flow of the analytical marketing process flow in HDFC Bank is given in the

following diagram.

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4. Project Flow:

4.1 Understanding Customer Power:

After developing the basic idea of the functionality of Analytical marketing team more focus is

given in the Project related work. The assigned project needed the understanding of the

following topics-

a. Definition of Customer Power: The Customer power is a marketing tool developed by

NCR which is used by HDFC Bank in ATMs and Netbanking to generate personalized

messages to individual customer.

The personalized message can be different things like regulatory messages, offering for new

product or offers available in debit/credit card of the individual customer.

It provides marketers with a continuous loop of customer transaction information and

feedback. This data can be drawn directly from a wide variety of online or offline databases

and customer interaction points including ATMs, retail checkouts, Web sites, customer call

centers, bank branches and kiosks. To facilitate customer insight, giving businesses the

information they need to personalize their offer to each customer's individual needs and

wants advance analytics is applied.

The resulting message can then be delivered in a coordinated manner across multiple

customer communication channels. Just as importantly, because the solution has the ability

to draw information from live data sources, the customer's reaction can be tracked

automatically and the offer further customized to reflect that response.

b. Process of Customer Power: Based on the transaction history the customers are scored for

different products and chance of consuming a product by a customer is also scored. Based

on this score value the people with higher scores are offered with different product. So

customer A may be shown a message for Personal Loan but customer B is shown a message

for Home Loan by the customer power tool as the score for using Personal Loan is higher

for A and score for using Home Loan is higher for B.

c. Message Content: The message details that are currently shown to the customer are

checked. The message content can be anything from regulatory messages, Offering for new

product or offers available in debit/credit card to a simply birthday wish to the customer.

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Example of customer power messages:

i. Message for Platinum Debit Card Update:

ii. Message for Recurring Deposit(RD):

iii. Message for Titanium Debit Card Update:

14

4.2 Knowing Internal datasources of HDFC Bank:

In the next step the basic understanding of HDFC bank database is developed which will be

required in the analysis. The knowledge related to this are strictly confidential as instructed by

the officials.

4.3 Preparing the questionnaire:

After completing the initial steps primary challenge was to collect the maximum information

from the customers. This is possible only with the direct feedback from the customers . To get

the maximum data from the customers a questionnaire is prepared for survey.

The questionnaire collects the information about the following topics from the customer-

1. Demographic Info of the customer

2. Primary Bank of the Customer

3. Frequency of going to ATM

4. Frequency of going to HDFC Bank ATM

5. Frequency of using HDFC Netbanking Facility

6. Average Time spent on ATM.

7. Customer Power messages recalled by the customers in ATM/Netbanking

8. Action taken by the customer if the message noticed in ATM/Netbanking

9. What kind of messages can be helpful to customers

10. Products recalled by the customer

11. Likability factors in a message

12. Probable reasons for not noticing messages by the customer

13. Effective communication channels

The detail questionnaire is given in the Appendix section.

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4.4 Data Collection:

In this step I need to perform the following tasks.

Target ATMs:

I need to find out ATMs from the database where the max number of customer power messages

are shown as to survey the customers in that ATM will give the maximum chance to find the

right customer with authenticate information.

Survey:

After marking the target ATMs survey is performed in the target location. The survey is

performed in day time during 11am – 3 pm. The location which were covered are Grant Road,

Charni Road, Dadar, Goregaon and Andheri.

Constraints in Survey:

The obstacles which were faced during surveying people are the followings-

Low footfall during the day time of summer season.

Most of the people are in hurry and unwilling to answer.

People coming with the complaints and diverting from the obctive of the survey.

The data collected are consolidated in the attached spreadsheet.

Survey Results.xlsx

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4.5 Analysis of Data:

4.5.1 Recall rate:

This rate will give the understanding of the percentage of people who are able to identify the

Customer Power messages shown to them.

The corresponding question in the questionnaire which provides data for this analysis is –

Q. Do you remember any informative messages shown to you apart from transaction

related messages at ATM?

o Yes

o No

Below is the details of the response from customers.

Category Count

Total number of persons surveyed(having HDFC BankA/c) 120

Total number of persons who can recall the message 60

Graphical Presentation:

50%

50%

Customer Power Message Recall Rate

Recalled

Not Recalled

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4.5.2 Message Content Clarity:

The survey also intended to understand the message content clarity of the customer power

messages shown to the customers adding to the recall rate of the messages.

Using this data one can evaluate whether the current messages are clear with the subject line and

content or there a change needed in the messages content display.

The question in the questionnaire which fetched this data from the customers is-

Q. Was the message content clear enough to understand the subject and information?

o Yes

o No

Below are the details of the response from customers.

Category Count

Total number of persons surveyed 120

Total number of persons who can recall the message 60

Total number of persons who clearly understood the message 57


The above graph represents the percentage of people who are clear with the message content

among the people who are able recall the message shown to them.

95%

5%

Cusstomer Power Message Clarity

Clarity

No Clarity

18

Conclusion :

i. 50% of the persons are able to recall the customer power messages shown to them.

ii. Considering the fact that few of the persons are not shown any customer messages, we

can conclude that more than half of the persons who are shown the customer power

messages are able to recall the customer power messages.

iii. Most of the persons(95%) who can recall the message are clear with the message content.

So the message content clarity is good.

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4.5.3 Time spent for ATM transaction:

Average time spent by a customer in ATM is calculated in this analysis. The objective of this

study to find out whether the customers are in hurry to finish the transaction. If the average time

spent in ATM for transaction is low then it is probable that customers complete their transaction

in hurry and chances of following the customer power message reduces.

The question which gives the data for this analysis is-

Q. How much time do you spend in ATM?

o 1-2 minutes

o 2-4 minutes

o 4-6 minutes

o 6-10 minutes

o More than 10 minutes

Below are the details of the response from customers.

Persons using ATM

0-2 minutes 57

2-4 minutes 45

4-6 minutes 12

So the average time spent by a customer

= (1*19 +3*15 + 5*4)/114

=2.21 minutes

The graph below shows the percentage distribution for various time duration based on the

customers surveyed.

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Graphical Presentation

Conclusion:

i. The average time spent by a customer in an ATM is only 2.21 minutes.

ii. The fact that 50% of the customer finishes their transaction within 2 minutes and 39 % of

the customers finishes within 4 minutes is inline with conclusion that most of the

customers are in hurry to finish the transaction.

50%

39%

11%

0-2 minutes

2-4 minutes

4-6 minutes

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4.5.4 Most Identifiable Products in ATM:

This section gives the details of the products that are identified by the customers for ATM. The

products which are shown to the customers while having ATM transaction and customers are

able to recall the message and identify the products.

The question which get the details for this section is-

Q. Do you remember whether the message was about the following topics?

(Answer only if YES in Q4)

Gold Loan

Personal Loan

Auto Loan

Bill payment

Child Plan

Credit Card acquisition

Mutual Fund

Platinum/Titanium Debit Card Update

Loan Against Property

Home Loan

Health Insurance

General Insurance

Demat Account

Two Wheeler Loan

Fixed Deposit

Life Insurance

Email Update

E-Statement Registration

Petrol Utility

Others

Do not Remember

22

Below are the details of the count of the customers who are able to recognize the product.

Product Name

Total No of

customers recognized

Gold Loan 36

Personal Loan 36

Auto Loan 24

Health Insurane 18

Home Loan 15

Two Wheeler Loan 15

Credit Card

Acquisition 12

Platinum/Titanium

Debit Card Update 9

Fixed deposit 9

Mutual Fund 9

Life Insurance 9

Bill Payment 9

Child Plan 9

Demat Account 6

Loan Against

Property 6

General Insurance 3

Email Update 0

E-statement

Registration 0

Petrol 0

Utility 0

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Graphical Representation:

Conclusion:

i. Most identifiable products in ATM are Gold Loan,Personal Loan, Auto Loan, Health

Insurance & Home loan.

ii. Products like Email Updates, Estatement Registration, Petrol and Utility are not

recognized.

Gold Loan

Personal Loan

Auto Loan

Health Insurane

Home Loan

Two Wheeler Loan

Credit Card Acquisition

Platinum/Titanium Debit Card …

Fixed deposit

Mutual Fund

Life Insurance

Bill Payment

Child Plan

Demat Account


General Insurance

Products identified by Customers - shown in ATM

Series1

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4.5.5 Most Identifiable Products in Netbanking:

This section gives the details of the products that are identified by the customers for Netbanking.

The products which are shown to the customers while using netbanking and customers are able

to recall the message and identify the products.

The question which get the details for this section is-

Q.Do you remember any of the following ads/banners shown to you during netbanking?

Gold Loan

Personal Loan

Auto Loan

Bill payment

Child Plan


Mutual Fund



Home Loan

Health Insurance

General Insurance

Demat Account

Two Wheeler Loan

Fixed Deposit

Life Insurance

Email Update


Petrol Utility

Others

Do not Remember

25

Below are the details of the count of the customers who are able to recognize the product.

Product Name

Total No of customers

recognized

Personal Loan 30

Home Loan 18

Gold Loan 18

Life insurance 12

Demat Account 12

Auto Loan 9

Health Insurane 9

Two Wheeler Loan 9

Loan Against

Property 6

Fixed deposit 6

Credit Card

Acquisition 6

Petrol 3

Mutual Fund 0

Bill Payment 0

Child Plan 0

Platinum/Titanium

Debit Card Update 0

General Insurance 0

Email Update 0

E-statement

Registration 0

Utility 0

26


Conclusion:

i. Most identifiable products in netbanking are Personal Loan, Home loan, Gold Loan, Life

insurance and Demat Account.

ii. Products like Email Updates, Estatement Registration, Child Plan, Bill Payment. Debit

card Update, General Insurance and Utility are not recognized.

0 5 10 15 20 25 30

Personal Loan

Home Loan

Gold Loan

Life insurance

Demat Account

Auto Loan

Health Insurane

Two Wheeler Loan


Fixed deposit

Credit Card Acquisition

Mutual Fund

Products identified by Customers - shown in Netbanking

Series1

27

4.5.6 Comparison with Base for campaign(last 3 months):

A comparative study is done by taking the customer base for campaigning in the last 3 months

for different products and the survey results for identifying the products.

From the comparison it is observed that-

Products that are coming as most recognized product & present at the top of the list are

with more than 10lacs customer base for at least once in last 3 months - Home Loan,

Personal Loan, Gold Loan, Auto Loan.

Products which are not recognized despite targeting large customer base-

Platinum/Titanium debit card update, Credit card acquisition, Fixed Deposit & Estatement

Registration.

Base comparison.xlsx

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4.5.7 Relevance:

In this section the relevance of the customer power message is determined. The count of the

customers who clicked the message lead either in ATM or in netbanking as it was relevant for

them is calculated.

The result of the calculation is tabulated below.

Category Count

Total Number of person surveyed 120

Total Number of person who can recall the message 60

Total Number of person who found it relevant either in ATM or in Netbanking 24


Conclusion:

i. The customer power messages are effective 40% of the customer who can recall the

message are actually applying for the product after seeing the message by clicking the

lead.

40%

60%

Rate of relevance

Relevant

Not Relevant

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4.5.8 Message type preferred as Customer Power Message:

This section gives the insights about the message types that the customers would like to see in

ATM and netbanking.

The types that were checked in surveys-

Regulatory Messages(Example: Nominee name missing/Update contact details)

Promotional Messages for new product

Suggestion of Bank for right products to individual customer

Technical advancement in HDFC Bank Transaction process(Example: Netsafe)

Stock/ Currency Market changes Information

Offers available in HDFC Bank credit card/debit card/netbanking

Also the customers who do not want to see any messages are also counted in the data collection.

The customer response details are given below.

Messsage Type Total No of customers

recognized

Regulatory Messages 27

Promotional Messages for new Product 33

Suggestion of Bank for right product to

individual customer 27

Technical Advancement in HDFC Bank

Transaction Process 57

Stock/Currency Market Changes Info 30

Offers available in HDFC Bank Debit

card/Credit Card/Netbanking 48

Do not want to see any messages 9

30


Conclusion:

i. Most of the customers want to see messages in ATM & Netbanking as the percentage of

those who don’t want to see any messages is only 4%.

ii. Most preferable message types are - Technical advancement in HDFC Bank Transaction

Process(25%) and Offers available in HDFC Bank debit card/credit card/netbanking.

iii. The total percentage of people who would like to see promotional message(14%) and get

the suggestion for right kind of product(12%) is 26%. So nearly one fourth of the

customers would like to be approached by the bank for new products and like to get the

information related to that.

12%

14%

12%

24%

13%

21%

4%

Regulatory Messages

Promotional Messages for new Product

Suggestion of Bank for right product to individual customer

Technical Advancement in HDFC Bank Transaction Process

Stock/Currency Market Changes Info

Offers available in HDFC Bank Debit card/Credit Card/Netbanking

Do not want to see any messages

31

4.5.9 Probable reason for not noticing Messages:

This section tries to get an insight of the reasons for not noticing the messages. Most of the

people are not sure whether they noticed the message always while it was intended for them. If

they did not notice the messages when it was shown to them then what could be the probable

reasons are found out by this analysis.

The reasons which were considered as probable reasons are-

More involvement in Transaction & Hurry to finish

Messages not relevan to the customer

Messages were not catchy

Messages not wanted by the customer

Other channels preferred over ATM/Netbanking for communication

Customer response details are given below.

Reasons Count

More involvement in Transaction & Hurry to

finish 72

Messages not relevan to the customer 33

Messages were not catchy 0

Messages not wanted by the customer 18

Other channels preferred over ATM/Netbanking

for communication 3

Others 3

32


Conclusion:

i. Most probable reason for not noticing messages is involvement in transaction and hurry

to finish(56%)

ii. Also one fourth of the respondents(26% approx) feel that they probably not noticed the

messages as they were not relevant to them and they were not in need of any product.

iii. Other channels preferred over ATM and Netbanking is only 2% of the response. Also

percentage of the response where customers don’t want to see any messages is 14%. So

netbanking and ATM channel can be used for X-sell.

56%26%

0%14%

2% 2%

More involvement in Transaction & Hurry to finish

Messages not relevan to the customer

Messages were not catchy

Messages not wanted by the customer

Other channels preferred over ATM/Netbanking for communication

Others

33

4.5.10 Likability Factors in a Message:

This part deals with the psychological aspect of the customers. It tries to find out what can be

effective presentation strategy of the messages for the customers. It checks the attractive points

in a message and how it can capture the attention of the maximum customers.

The factors that could be effective to get the customer attention are-

Attractive Slogans

Product Details

Family/Relationship Based

Brand Ambassadors/Celebrities

Functional/Unconventional characters

Use of Facts and figures

Heartfelt/Inspiring

Humor

Customer response details are given below.

Factors Total Count/factor

Attractive Slogans 12

Product Details 45

Family/Relationship Based 27

Brand Ambassadors/Celebrities 3

Fictional/Unconventional Characters 12

Use of Facts and Figures 42

Heartfelt/Inspiring 3

Humor 6

Others 24

34


Conclusion:

i. Most of the customers want to see Product Details or Use of Facts and Figures in the

messages

ii. Family and Relationship based messages are liked by the people who are having their age

between 30-60(check segmentation)

iii. Showing celebrities in the message will not be appealing to the customers rather

customers prefer to get full details where their money is involved.

7%

26%

15%

2%

7%

24%

2%3% 14%

Attractive Slogans

Product Details

Family/Relationship Based

Brand Ambassadors/Celebrities

Fictional/Unconventional Characters

Use of Facts and Figures

Heartfelt/Inspiring

35

4.5.11 Preference of Channels for communication:

4.5.11.1 For All Age Group: This sections tries to find out the effective channels for

communication through which it can reach out to the maximum customers and also customer to a

particular age group.

The customers were asked to rank the channel of preference according to their usage. The

channels which are the part of the survey are-

TV/Newspaper ad

Direct Mail/Phone Call

ATM

Social Media

Banners in Netbanking

Radio Message

The customer response details are given below. The channels with highest preference, lowest

preference and no preference are given 6,1,0 points respectively.

Channels TotalPoints/Channel

No of

Customers

Mentioned

Average

rating

TV/Newspaper ad 312 60 5.20

Direct Mail/Phone Call 426 90 4.73

ATM 345 69 5.00

Social Media 153 36 4.25

Banners in Netbanking 198 42 4.71

Radio Message 93 33 2.82

36


4.5.11.2 For Age Group(More than 40):

The analysis further extended for age group more than 40 to see if there is any change in the

preference of channels for people with higher age.

The same operation is performed as above for the people more than 40 years of age.

The customer response details are given below for the people who are more than 40 years old.

20%

28%

23%

10%13%6%

Channel preference - All Age

TV/Newspaper ad


ATM

Social Media


Radio Message

37


No of

Customers

Mentioned

Average

rating



ATM 162 30 5.00





21%

32%

33%

3%6%

5%

Preference of Channel - Age more than 40

TV/Newspaper ad


ATM

Social Media


Radio Message

38

4.5.11.3 For Age Group(Age upto 40):

The analysis is also done for people in age group upto 40 years to see if there is any change in

the preference of channels for people with higher age.

The same operation is performed as above for the people upto 40 years of age.

The customer response details are given below for the people who are more than 40 years old.


No of

Customers

Mentioned

Average

rating



ATM 183 39 4.69





20%

26%

18% 13%

16%

7%

Preference of Channel - Age Upto 40

TV/Newspaper ad


ATM

Social Media


Radio Message

39

4.5.11.4 Comparative Study for Preference of Channel:

Number of customers Customers with age upto 40 = 26

Number of Customers with age more than 40 = 14

Preference of

Channel for

communication

Total

Points/

Channel

Number

of

Customer

s

Mentione

d

Total

Points/

Chann

el (Age

More

than

40)

Number

of

Custome

rs

Mentione

d (Age

More

than 40)

Total

Points/

Channel

(Age Upto

40)

Number

of

Customer

s

Mentione

d (Age

Upto 40)

Percentag

e of

Usage for

Age

Group

More

than 40

Percent

age of

usage

for age

group

upto 40

TV/Newspaper ad

312 60 102 18 210 42 42.86 53.85


426 90 153 30 273 60 71.43 76.92

ATM

345 69 162 30 183 39 71.43 50.00

Social Media

153 36 15 3 138 33 7.142 42.31


198 42 27 6 171 36 14.285 46.15

Radio Message

93 33 24 6 69 27 14.287 34.62

Conclusion:

i. People more than 40 years can be reached out only through 2/3 channels preferably Direct

Mail/ATM/ TV Newspaper ad

ii. People up to 40 years can be reached through all the channels as the percentage of response

is high varying between 34%-76%. Radio message can be omitted from the list.

40

4.5.12 Distinctive Trends & Segments:

4.5.12.1 Family & Relationship Based message Liking:

Analyzing the data it is found that people who are liking the family & relationship based

messages are in the age range of 30-60 years.

The demographic details of the customer who have shown interest for family and

relationship based data are given below.

Sl No Gender Age Profession

2 M 45 Business

5 M 53 Business

7 M 31 Student

20 M 33 Service

22 M 32 Service(Supervisor)

23 M 56 Service(Govt)

28 M 34 Service

33 M 34 Service(technician)

42 M 45 Business

45 M 53 Business

47 M 31 Student

60 M 33 Service

62 M 32 Service

63 M 56 Service

68 M 34 Service

73 M 34 Service

82 M 45 Business

85 M 53 Business

87 M 31 Student

100 M 33 Service

102 M 32 Service

103 M 56 Service

108 M 34 Service

113 M 34 Service

41

4.5.12.2 Customers with high ATM usage:

By analyzing the data it is found that most of the persons who are using ATM for more

than 12 times on an average per month are either not using Netbanking Facility or Do not

Remember any message shown to them in Netbanking. So Customer Power messages in

Netbanking may not be effective for this kind of customers.

The data related to this analysis is attached in the following spreadsheet.

High ATM Usage.xlsx

4.5.12.3 Customer clicked the Netbanking Lead:

The Customers who clicked the lead in Netbanking Customer Power message are mostly

the customers who are using netbanking facility for more than 3 years. No customers, using

the netbanking from less than 1 year, clicked the lead in customer power messages in

netbanking.

Rating Criteria for Lead clicking:

Clicked the lead when it was relevant: 3

Clicked the lead not depending on relevance: 1

Rating Criteria for duration in Netbanking:

Duration of using Netbanking: More than 3 years : 3

1-3 years: 2

Less than 1 year: 1

42

Sl No

Using HDFC Netbanking

facility

Duration of using HDFC Net baking Facility

Clicking the message lead(in

Netbanking)

8 1 2 3

13 1 3 3

29 1 3 3

35 1 3 1

38 1 3 3

48 1 2 3

53 1 3 3

69 1 3 3

75 1 3 1

78 1 3 3

88 1 2 3

93 1 3 3

98 1 3 3

115 1 3 1

118 1 3 3

43

5. Takeaways from analysis:

Decent number of customers are able to recall the customer power messages & finding it

relevant.

No content clarity issue with current messages.

Products with large customer base target is not the only driving factor for product

recognition in customer power message. There is a possible underlying need also which

makes the products more recognizable.

Overall half of the customer response(preferable message types) is open to the idea of

new product or offer messages.

Hurry to finish the transaction is a constraint to the effectiveness of messages.

Half of the customers response points towards more detailed offering in messages.

For people more than 40 years age Netbanking messages are not as effective as ATM &

Direct mail/phone call

High ATM usage may lead to Low usage of netbanking causing ineffectiveness of

netbanking customer power messages for those customers.

Longer the duration of using netbanking, greater is the chance to convert a customer

using netbanking Customer power messages.

6. Suggestions based on Analysis:

Products which are much needed by the customer at a particular time period based on the

market condition and other factors, can be targeted to more number of customers to drive

the sell up.

Messages can be more detailed with effective use of facts & figures.

Alternative measured need to be taken to deal with the “hurry to finish the transaction

problem”. Effective use of blank space in ATM transaction slip can be one solution based

on the cost & other technical constraint.

The number of customers targeted in netbanking can be reduced for customers more than

40 years of age by correlating their transaction behavior in netbanking & frequency of

using netbanking to chose the effective customer base for this age group.

People who are using netbanking for long should be made the primary target for X-sell

using netbanking Customer Power messages.

Customer Power message type should not be limited to high volume product offering

messages. It should show customers various type messages which could be helpful for

them so that the Customer power messages become more relevant to the customers.

44

7. Referrences:

Internal documents of HDFC bank

http://en.wikipedia.org/wiki/HDFC_Bank

http://en.wikipedia.org/wiki/HDFC_Bank

45

8. Appendix:

Questionnaire

A. Name

B. Gender Age

o Male

o Female

C. Profession

D. Primary Bank

E. Do you have any account in HDFC bank ?

o Yes

o No

F. Contact No(Optional)

Please fill up part EA -> If you have HDFC Bank A/c

EB -> If do not have HDFC Bank A/c

46

EA(If you have HDFC Bank Account)

1. How frequently do you use an Automated Teller Machine per month?

o Less Than 1

o 1 to 6 Times

o 7 to 12 Times

o Over 12 Times

2. How many times have you gone to any HDFC Bank ATM in Last month?

o Never

o 1 to 6 Times

o 7 to 12 Times

o Over 12 Times

o Do not remember

3. How much time do you spend in ATM?

o 1-2 minutes

o 2-4 minutes

o 4-6 minutes

o 6-10 minutes

o More than 10 minutes

4. Do you remember any informative messages shown to you apart from transaction

related messages at ATM?

o Yes

o No

5. Do you remember whether the message was about the following topics?

(Answer only if YES in Q4)

Gold Loan

Personal Loan

Auto Loan

Bill payment

Child Plan


Mutual Fund



Home Loan

Health Insurance

47

General Insurance

Demat Account

Two Wheeler Loan

Fixed Deposit

Life Insurance

Email Update


Petrol Utility

Others

Do not Remember

6. Was the message content clear enough to understand the subject and information?

o Yes

o No

7. Do you generally check the messages while transacting in ATM?(Answer only if YES in

Q4)

o Yes, if the product is relevant to me

o Yes, even if the product is not relevant

o Sometimes, not dependent on relevance

o Never

8. What could be the message type you want to see while making ATM Transaction?(Can

tick more than one option)

o Regulatory Messages(Example: Nominee name missing/Update contact details)

o Promotional Messages for new product

o Suggestion of Bank for right products to individual customer

o Technical advancement in HDFC Bank Transaction process

o Stock/ Currency Market changes Information

o Offers available in HDFC Bank credit card/debit card/netbanking

o Do not want to see any messages

o Others

9. Have you purchased any product through internet?

o Yes

o No

10. How long have you been using the netbanking facility and average number of

transactions per month?

o Never

o 1 to 6 months

o 7 to 12 months

o 1 -3 Years

o More than 3 Years

48

Average number of netbanking transactions/month

11. Are you using HDFC netbanking facility? (Omit if never in Q7)

o Yes

o No

12. Do you remember any of the following banners shown to you during netbanking?(

Omit if NEVER in Q7 or NO in previous question)

Gold Loan

Personal Loan

Auto Loan

Bill payment

Child Plan


Mutual Fund



Home Loan

Health Insurance

General Insurance

Demat Account

Two Wheeler Loan

Fixed Deposit

Life Insurance

Email Update


Petrol Utility

Others

Do not Remember

13. Do you generally check the details of the product offered by bank after seeing it in

ad/message/banner during netbanking? (Omit if NEVER in Q7 or Do not remember in

previous question)

o Yes, if the product is relevant to me

o Yes, even if the product is not relevant

o Sometimes, not dependent on relevance

o Never

14. What could be the reason for not noticing the details of messages/ads/ banners shown

to you while availing ATM/netbanking facility?(can tick more than one option)

o I am more involved with the transaction process

o I am in hurry to finish the transaction

49

o The messages are not relevant to me

o The messages are not catchy

o Silent messages do not catch attention

o Its just another ad to me

o I would like to get messages in other channel(ex. TV, Social Media)

o Others

15. What do you like in a message?(Can tick more than one option)

o Attractive Slogans

o Product Details

o Family/Relationship Based

o Brand Ambassadors/Celebrities

o Functional/Unconventional characters

o Use of Facts and figures

o Heartfelt/Inspiring

o Humor

o Others

16. Rank the channels according to preference from the following list through which your

bank can reach out to you with new product offerings?

o TV/Newspaper ad

o Direct Mail/Phone Call

o ATM

o Social Media

o Banners in Netbanking

o Radio Message

EB(If you do not have HDFC Bank Account)

1. We are happy that you chose to transact with us. Why have you chosen HDFC Bank

ATM for transaction? (Can tick more than one option)

o This ATM is nearest

o Find it easy to access/withdraw

o Less issues like insufficient cash or system error

o Available in all location

o ATMs are Neat & Clean

o Easily recognizable for its Brand Image

o No specific reason

o Others

50

2. Do you often visit HDFC Bank ATM?

o Yes

o No

3. Would you like to open an account with HDFC Bank?

o Yes

o No

o May Be

4. Reason for not opening an A/c with HDFC Bank? (Answer only if NO in Q3)

hdfc bank sip report

Documents