245

fn~s jJ!JPer·J·willpresent the ~.s#IJ;s~fsucl1· at1 effort in ~e~g. de~lQping and . · .. ·· . ·. implementing sucha ~;datab~ at'the MFl~ajor Financial InStitution). MFI, through its customer and ~hnology focus, managed to acltieve tremeJJ.dou!il srpwtb ln, ,the last tenY¢&'8. and}()()~' to beo()~ng~ ~I · investment co~tjn th~very ne!lJ'~ti:!fe. I will alsoshow how ffie>power of'theSAS system provided the basi$ for an effe~tive marketing Datamart and a user-friendly environmentfor its users.

For . tbo:se business ,marketers . who bave atterw:t® to develop ~ir .company's da~ase; the e~rience··· bas typically startC<J; • witb , high expectations .· lijld · enthu~m :that / then degenerates to frustration .antl ,pal'tiat res:ttlts. Even though theso ini~l efforts rocky, the ~ to create a ~ctiQnal ~t4base .. ill. essentijl)'in order to aohieve•.eyer-increaiing markotin~~d

. sales(Coe). ··

The niarketing ,conc~t is. .e,sentlally th~ ~~sfaction, ' ... ot:.' ~to·r need! tbro~ ifl~Sniterl., ~tiilg with the intent .to Satisfy · the customer wbUe . earning a pro tit (Innis aod Lalonde).

~.rketing and Sales ProductiVitY (MSP) s~fXIS can. automate the work of a s.iD.gl~ salesperson, ll s~e marketi:ttg activity like ·dfrect mail, or a company's entire marketing and

In .. ol'!l~t. for . ~!·';,~eUng s~gi ,to. · f>e su~~~·'"·•·ttata>~xc~·~·:~eno.-u~r

•. ·.~ to be .~.-d. Stored.· fir. a U!!el" .··iM~dlyway,:Ul'i\:form.~J.tl1alteti,tg4a~; ..

' ' ' - ' ·- ·: :.,._ .: - •. ;;' ':,'~ ''" "' -:> -- - ",- -- ~::s: ''·''";~

.·.·• ~~~.~~»~·1~ ... ~~&1'~··~ ,p ···.· ...... •• ,;a.;;:;;;..~;.;:u, • . H:~....f • • ••• > . ·d· •••.. ' . '

·;~ ·• ~~:t C<h~LlllJ,, ~~ < ~ .. ··. < .•.. ·

·Ulth~~~~tyollf~~ess, ~~·~de;,, p.teG;9S~ .. ~f~llJ'.b~Q'ti~~~~ efrort&,·aJ1~;'\' · ~~propt; .·.· D4~~. ~:.is not;.,

....... ··.· ~~~elf. It~,.~approacnto ·. ·~ ·. .. . . ... ..... ~ding. · strateJP". ..It is not. a ~~.~~ fun~on· to. tlierest~f.marketblg; Jtisa Q()mp~taty to all \fQrins of <~iness intcll,i.gence. · ···· ·

·,.

~····~~aR~ .·~· 4 sh~ cOUecttonot.· intel'!r¢l"t¢~Yi~~ . whi~h provide11 mt~rketers ~~(,the #6ili,iJ':~.·to ~e~ g,ick ·. ant,i Mai~ ~-. .to. d~e ··the .effe~vone,~.;of

· . ·:··· &' P~9.~Il1S. 8114 .. tnv~ . ~keiibg .Sf!PProp~l)i'•, .. , \ • .. :; ,· ••••.•i·. •· . .•·

. CqstQ~~ . ·.~~n5es and·····trall~~ ... ·are · . .. ~~. ~d the ~~ i~ ·used tc{ ifnp~ve th~ ~~ .atld. e~on 9f .actions that .•. ~ 4e$iped . to s~ 4evel0p, •. and prolong ~~~le ousto~:r,lationships{Sey~14)~

:,~. :·"'- . .

Soqte .• execupves •.. b.~vet!le~seonQe}ltion ~ill a company ll . . bvr and,insta!la ...• C~merRe . . .... .PM~nt~ysteiWa Jqpbisti9ltecl~~·to;~~~s •. ~~·to

...• il\divi~lpusto~.- ~to·~~etWS~Uable · ~~t~.~P·~~·~~~oo~.~v~

tJie ~~~.~ tb~ tO ®{Dplltersandthe ~te~~~;'P!f.~yexp~ ~xpeot $Ides 9fmultf~· milfiQ11'iJI)Uar(:.~ s~tO $Cier- mtes.Qf 300/9 otmo~eac.h year: ..

248

"1\t~ b8$e.,these ~~Ig~ ~~ , . ·' ~~~~sy~ln!· . 'N~p~f;~~~ar ~rofes!l()l:'~~;gpen#io · ... ~WI . ;.: ..•. itlan~~t at Wlf .·.·. ~!Jcol~t·ta c;ti every smale wsto . r, ' •.•• ap;yw~ 41$ a:~.Jnj~t~~ ~fQ;contaotwi~'f1te co~y ... ln. eaCh ot~·~Y.aJinets they wilt have •SOillO sort ofhariiWare and S?ftware that is going,,tp; l;lt ~ome level. mana.Je the prooess.of employee$ of the company interacilitg with·tbe ¢u8t<)fuors."

A large cotporatid~ ~y spC:!+d ttns of IJiitlions of dollars on a c~ system. A~~ th~h.ig CRM ... supp. .. lierS. · .. ··· ar. e.· Oracle, Bleb .. · e1.·.s.. ••· ·· ·· l!Bd ' . .. .. .. . . .. JBM, and qozell$,of other cOnfp!Jlt~s .... · ..... · · ize in components such~ teleJ>bone call~ tecbttology,~.~o~ and Internet . .·. s~te~J1~$e .. ~.~o~·idea is to•eusf()~ e~b$~tetrtto a.~citic compan)':Ul~~s, there

·.1. s no. univmal defuution ofCRM.· •. whicJi'has both business-to"-buSiness aid b~intss•tO-consumer applications. ·

Call yourlooal ~about your~b · · & ~unt and youmay diScover tho •. •·•·· . non the

· phonei$looldng8t.asoreeti~t~~ Y0\11' previoos cans ~~!,J.l$ys im'OrnP()~~ ~roor.~~ge~g~~ ~·.JIS w,p. ~s C~b;)g !)n,toA~ot).co~~dy~u may ·fin<la pet'$9nalize4list of •uggetlte~b<>oks that ha'Ve appeale9 tetreaders with buyUighabits Ill¢ )'ours. CRM again.

· .. ·.. "" ..

. CUijeDtl;t. the finanola.l.s~J'vices]J)d.l.lstryba5 the •best ClM efforls,withpompanl.;,g U~e Capita;~ One, Fi&Jlity llt1dVangUard Qroup m,nong the 01)$t ~.~mples, pj.ysays. Uulds' End and. ~Y other ~ta).oiue companies also are among t&e

besi··~···~ lpng ~n,~ .

'Fader. Tra41 are,kss ~c · .. · ...... ,·$Jlt~~QY·~~ ljttJ~··· ~OtlQf<.~tll~&?infO~ndtitJn,g CU$l0tnc)r ~en&, he saY$~ · ·

..

Ge!let8.UY~ C~Jsi~ itS a system· for· tlnlJ1ellhgt<>~nep~~ ... ~t; ,; .. ·.•··' o~rnd~e~~l(lbe 4( .·· . ··.·. J1WJ~~y; Vlh~\?*~~imarn~tmqw~ ~#ther · l()~s ani dG~'JbisttlCaD8 ~lleqtin~ infonnatton ft'on{ph~.cent«s•·~;lBtemet si~S. {rom.~~ ~~.salM:people or1he· ·. • .. · .. · ..•

J ~~:tners' visjt$ tO y~()llS rew,U and wbolesaqe ()J>eta1io~s ;..!tom~¥~~touch110~t." ·

247

~ ' ' -;>

·J~ly,the &lf~onJs~~tp~ .•. ·In~~.itlto~h~nle(s,~~4~.~ .. ~li~"\'ior; ~~·~n:i.t1s;~ to.hnpi,Ove tJ1e; cu~~..,, ~mp~ ~. ~~·Y·Thispanbeaa •... simpleas~~e;~~merfi:Qmhaving.~· ~tJliS·nuPfing~every~·ltoplaces ~ o~er* tpSOrneth~'lil£e bejtli.abl~ to .. ~nstantly,tell the e~1st6riler the :Statug.Pfa shiplllO'ltl)e an;i .· •.•... · .•·.········ ... ·,sales·•· .; .. · effot18,~o~tthe~q$tp~' .. ·.········· ....... ~itlP~

· ... ~ ~t~.ls~f W~s~~ ad.ver$ing taiiOI#dto his likes. . . .. . . . Usiiig the ~CO,ll~d~-~~~s .. vw;i~ C9fltacl"s~ the 'fO~Yi~~ : · to:~ ~n~ ~ut~~~~·\Y~~~;.. .~~;'• ~c:l ~thathol~~r.... ··· · · ...... •. · ··;, .. o~Jcmi~twaYl~ . . • • . ·~int~ ~·· flave ol,d1~ and.~~ then~ to sen~ a college sayings produet ;; , .,

:\~~~#s·~~'.4isoi1Ml~~·.b1.'aggre~··~··&<rt . ~.Ql~r p~ pfrtJe ~ket for tlie 9Qmpatly'S

ptt)d.ucts or setYieei:The · p~~Je custotner~@Yre<lO!Y~ .... ~ire~ "'Jille others ri# ~o~b. i\,$ a prefeq-e(l. ()US~mer. you ~y ~ickly get ahuman'beJ~ wb~ you.phone, Wlijle tb~ less--desired · customer must ~tie with a:pbone tree .

A··banic~toJ1ler,WitnonlYS100.onqqpQ$i,tWho hlibituafly ph()~es durln.j.~ .~ank~lllp19~~~$ busiest time, miptbe deemedtQ(>'O(l~tiY•·'G~s

•.·;1bi.Jitegrated c~stomer Rj~tf.pa~llip Reposttory . . ..

The Customer. a.etationship Rep()S~tory (IqRR) .. lq)rest'tlts a collection of the most iWP<>rtant arid useful co~ . corporate, bebavi9ral ~ derttosraPhic infonnation telaling ·~· MFl custom~ •. o~ on ~ !\114 ... d~l(tattf.; souroes, 1~pr6cesscsf?~.~ infb~u to a hip av~tability ~JaU'orm desi~cd for marketers, analysts . and. other decision suppgrt pexsorwet. While 18Se111Pling the data, lGJ.lB proce*i perfQI'lU dati hygiene checks as well as ... o~ 1'9u1;ine and . value added <.fata· tra#StOnnatlons. In. the. ~d, lCRR. processes gather re~ev'Wtdata into "areas of interest" .~d prod~1:fo~ f1,1 core:b}fo~Qil.~o .. ll!im>~ sotsofthe same data: radix(of'root}fil~s~#tive SA.S d.atasets. U~nt can. sele()t wbicfi o[fb_ese sources is most appropriate . for the task.· ~dec consideration.

An ovemew of~I's~hriical infraltru~ is useftl} describing the rOle of the teRR. The custo~~~e_Pce·it 1$1 .irlolu~interaction at v~ous ·to\lch . points; tO!lOb points include ~resentatives (for . ex,ample, jn • branqh locations>'. the \Y~b (thr9ugb MFl.Q9m>. the tel~ltone (through TeleBroker .and outl>0und ~g programs). e~mail (both inbound. and' outbouild) and tradttional mail (through, for example, direct marketing prograQiS). These touoh points are supported by various

249

· ··~·· ~!1~!\,.~~r~ :>~~~~~, ~~11 data ~~~,t to su~~~~'t~~~ q»ea< ope~o1:1: Qfpr<>ductiOtl appUcad.ons; tb~- of reweJ®.. ·.die ~\ito~ ~ ~~ ·~ ... ·.· ' ·.~: • . .... ~4 . Xl>Y die Pr()dUClion ·. ,~~~04Jq#s·~~~r ~tti,t)i.a.nd de()iii()Jl .. ~l p~lspert:o~in.l8tgemeasurebyiMl'T .., M,l"l's multi•pf1ltfopn data ~use~ fiere is the. place to titl.~ for~Xlllllpk~ ~~~~f,9f·.U t¥6$ ·~· b)'ttiFI ~~dtil:ingthtf)ast

. ~F ~1 9f'~~ory Qf aU teleph®e ellis tQ YRlJ~~ ~~e pastJ~ix mon~s, ~·If twm; T~sfti:!~es .... :;' ••. lle Icep~r iiid .. ·•·• Ute. Data · '\Y~hoyse -- .tlt&s rq'»'C&ent a co~ .re~;fQi' ~sto.ttmakersof:dafa generatedby.Rr04uction ~lict\tionsi · ··. · :. ·

,...... ... - ,,

~win~;oni.~Ic(~ weli as ~~s·.area ·· ~f ~XtefiU1l or' oyetl8,y ~ta). Various 4eP~ei.\tal ~ t,ransfont\ tb~. a.ta tl:n'o~~ :tHe ~li~tiim. of pr«rise l)usiness.lldes ~ s > .. < · •.. iptO infprmadon u&eful(Or a p~()!Jlar : •. }: pf 'b~~ mqu.iry. .f'or e~ple, the ~oons4U~by.Co~rate

.. Finance appendl;fioo~ ~ ofc6st .• ~WJ. profit to VarioU$. ~ustotnel'• itlte~tt®s• aDd determines the. PrOfita.biU~:of ~ ~tPJ!le!'bY $\UllllUlt'izfn& ~lof~e~,i~raon"s ~'MFf; 1'Jte ICRQ. J:eP~s~ ~~~er ~b reposi~; it Ora~··•·· 8,·· ... wi~::· vafi~Y <)f; ·c\!Sf!,}~ @ated · beJia~~rm •.. trlin$aoti~I. •lltld ~~~ltic itt(()~ion :frOm ~"In addit~o~it ~·on extornal sp~ .of hifo~tion in~~· tO UWketers sucli as. ~ograpb.ic mtd demograt;l#c

da~.~~to·~ to'<~' h<>~er~ the 1 lran8f~rbl& thedatain a waytbat . , . 'f!i'; ~cy of' tna:rJ®ing ~ysts ~cL supportS· tbe ~loyintmt <1,!~ 1$1lPlications.

Ia:.t Iiaw $our,~ . ~~ pr~$~":~~,fllfo~ti~ fr'<>Pl ~liijgt

SQ\U'Ce ~~~ 9n •an. attrli?U~~~ute l)a$iBJ;~ ~ l,)atl:be bt'ol4lY~~ irt~ tWO . ~~Qries: produCtion ..... ~·.. 'fd: sup~l(!~l:al overlays,. PI'P~doq .. ~~ 'ilre data s~qrces that are prodUced ··~ ma,_Uied by ~lkafions and proce$$e$ re•i~J. in tbe Ml"'.c~~ .. ~lic~on twnework.·, $pen ·f'@S••·.inQ)wJe ·o~tative rcmos~rfes .. (~B2 ilid.~m~ ~~NtM ~.oft'erinS,. Whenever PQsslble, info~on reqt1Ued by tbeJCR'R: .is··. obtatited from the mo$t appropriate production f~.

In s~~ ~s, .however, valuable inforn;ll!tiQD is best .obtainpd frorlt a SQiU'ce other than :the pro~on feeds~ . Suoll SO\lrQeS include ~tl't ext~al. feeds (like .JXI 4elllOgrapJrlC . da~) ;~ weU. asinternal."~,OCI!S" d~ ~~{~has inforq1ation . ~ered , . ai)Out . 'ltl9~ • .·: f\:mc;t pro~ by MF1MU1JW f"~d~ SuppRrt) .• $~ch ~.s serve as supplem~tal overlays to the lcRW.sQ()re information.

Pro~$ creating or maintaining production feed$ Sll!f'ie as predecessors to lCRR p,rocessing. ln o~ words, ICRR processing £Jepends on (and; IDB.Y be. delayed.·. by) the suocos~t completiqn .of .. ~eyant ·· p~~~~~ ~th· respect ... to a :.}lf®ucition.: J'ee~i .. S1lpp1etrle~tal ovirla~,on the 'Other .band.£ll'e always acce.~ed on a *;l~t tVailable u.p~ate". bali~: In other wotdsr ICRR processes \\raw infonnati,on . from the . JOO~t recently . cre;lted version of eac~ SUpplemental overlay ~urce and · .. ·ate .. neyer d~yed by the una~labUity of s~h a $()~~­~ile suppl~~ overlays .are g~~tllly cl#fed bf re~le Pro~ (rut1 ·~· .msitto .and: 9~icle of ~I). imd o~n. cont3in • wetl~ knoWn ~~. ~ ,. ~ib~, tiley have in conupori that they ~e.:prod\,lced by. pro*ses

.·•1\t~lte .... ~d.,ti6li'Y i~ rQ~··. ·pu~iliess.l1tleffi\~f~atujJis

250

In . additioJ1 · tQ syste~t. ~v~l and. /~t~nt~~,t ifiUlgrlty data .· cbe()ks, ICRR~ tnittSfQJ:matlP~ proces~·.derive. ~ful· .and. common~· f'roln.:·~~··· ~oJl:~ ittrlbJl:tes. For e~n~. ·· ICRR: p.®e~sei ~e~£Ill!ne the hQtne s~ of an account by· ~~f~tridng .· t,he . original zip code attribute and ~term~Jle the symbol and CUSIP code of a seollPty f>y consulting the original seourl~ nutnber ~ute. In addition to s~ving devel9J'lllent (~d exeQi.ltiou) time and efforH~J: end ·.~ .of ·~··i· ~ta. suclt prepro~sSlng ensures ~·.p.~ 4U,f. ·. . ~pli~o.,. of imPOrtan.tbuslriesi ruleS o ·sfoffilation. · ·

Bas~, ......•.. Derivative ttnd R.~erettce Offeti•HP

As in .other deciSion SUppOrt repoSltQrles, information (irawn froiil ~~ce systeifui. is gather~ ~t intQUI1:1dti~ cone~~·s .w-· .~~~ of int¢rost" In qr~ to ,PP~·the. widest possible variety Qfin9~ @ ;ijial;ysiS. IptR ''ijase offerings" .. Jnake·· avtillal)le irlformation 8.( the most granlllar level of · IneaJ1lngtUl detail with~ ~.such area of interest For eumr>Je, acc9unt auHbJl;tes ·~tre · collect¢ and. m$d' avaiJible .at the a<(pount level in the) ICRR "Account" .ba&Q offerins,. whiiO co~. ~e information is available. (tp the ·extent possU>Je) at t'tle transaCtion level in•. tbe•JCR.~; "Trades., base offerins.

For simplicity and efficiency.. the ICRR also includes aggregates 8tldPtJl~ usefui "derlv~ve off~riltas'' d~gtly d~~;~l!-1 pu~lish«l ~~ offerings. TAe$e .· de~vati~ .. offerin~ iltc1ucfe

· b+,subs~·:an~t$\ll)l1l1arie&witijln<~ .. ·~·~~ In~t .... ~li '· a.·~on of~~ counts ~ .• ~~ssio,. ~Y aocount .. ····b!••\product ~8.1?~ ... ""'.· .•.. as well as comb~tiQnS .. Of ~o~on •8Qross ..-eas o( ipterest,ll1ll0h like f~t iables lb. a "star. sc!lema" style da~;. In a sense, the creati<>n of derivative' offerings extends the logic underlytng the 4env.tipn of rou~e ,.attributes: . it prO®tes<efftcienc~ ,~y sparitlg en4. users tbe need to reP«rtedlY ~e ' and rebufld reOl.ll'ling (though in tbls case m6re · ' coplplex) .transformations. Jn addition. to the base and derivative offerings, ICRR "reference

ofteri~&J'' ~~,a~1,.' \\fhij~§ llRP~~priate, d~~~< ~ttllatf~i .• J?~ r~, .. va.tl.le loq~") B>r 'diScrete ~s Withhl tfll cote o&~. .

Qu.mtY matrol'in~s

!p ,:,~ition 'to the • geneptl qWtlitf C9Jl!t01 illcu~m. the. ~suJt.t, of fll ~~llJ .. ~ v~tU~I(ltion checks atl;.~e '· · ·le. , .• ~~··of the. :ICRR. offel'itijS ... ';., · , ~; :filo <>fferillgs. e..,h field o~ , . is;PrecflUed bY a one-b~ "valt~~ ..... . . :11\at~.~ he~ vatge? i~Weatmi ~,~~ ofibe~ in the

· :Qeld;.·~r'?~es. A·~~ vJlue of x•oo• ··~~· ~o !1l~;rs .. w~. d~ tbroughol¢ii tr~onnation pr9~s~sfw~ tl;le so~. tile ·

. to the f1nal offeting• wttil!' •. t9r ~J9, •J. )lex \f8lue of' X'02' indicltes'tbat tlu~. ~:field··· conuu~ed Invalid ~,afi~ lp~.,~-'no~­printahle chbcterJ hl th,~o(~~pc fields an<l non .. nu~el'jc .~fai,in,tbe<c~of numeric .. fieldJ. ·In .of4~ pi-~g;c t~~~~e validation .9()~. ~~. ~.J)e ifl9~i ~~V!~ver, th~y ~ J'f9~.~ tti allf>W'~ ~nveriie~ ntlm~ me~ fot ettd~ 10 Cll¢ek Jor.valid ~ value~,~~ ~~ .. Th~ v~fdl~on.··~~·· (roiil;~~ ra<Jix flies are tranlllafu4 into. different "~$bi,g" values in SAS for the ~purpose.

251

s~-~lioitt.··Qff~r·!Hia~irp•t·a-'~~. QDiiU··.t\d.~ttad~~

The l~l¥)t tbilt W$t0rnors I~r<tfcr to be trea~ spe~~· like ~ .. ~. frien(l rather tll,an just a potei\~ s8;le. shoUld 'CQme @,t no IJb()ok to ve~.~~rs. Like the aang at tl\~ * '+c~.·· .. ;.~~. ~~~r· c;Jm()w.·· .... ~ ~··~."c~J~Pi$• •. 1~*'":·~·;·~~ ..... ~ .. ·of ·a ep~y lit Whi~lftlieY are vattieQ('fUrner)> .

'l'~~~stfn~··etlSllrCS· ~t·~V·Qp~t R~ wm·~·Jb'tl~tablf!prq<~ucts ~market llQt.onty. witlr tie ~-b(level of q.Wilitf anf}Jlmctionalf~:Y .. b~ aJSO·.•~ ~proJ)riate prices for tf1e targe~ ~tA~· ,~ts.·.• In effect. tbrougl) t.arget C9~i .. the. coll)pany.re~ .b~~ tmm customers• needs and. willm~jt!js+~· pay ktstead of following the tlawed.lmt cOnln\i>n p~ce qf cost plu$ ,pricing. ')"arget ~stin~ ensures tpi,t succ~ witltt!t~ custOm~will·yield eoonQ~C S\lCCeSS forfbe eom9any~Cqoper lind Chey.l).;

''The i9tU o~~¢'hne to bhe ~ter is ~ selr;. ~e. cu~ID¢f. at. ~·• tijne as;,.rpan~ pro(lucts.;~ posSible· •.. · oyer the· •lJ(etiuJP:·'Of·~. ~tc~~;s :PitrQ~e;" explai~ .. ·~· ··•• ~.~•·· ·~ws (T~). Whereas mass tnark,.~5tffis .·~~ used for d.~es as am~ of CIS~~ effiQient,iy with ··laa'~··· nuntbers of people ~.c#te same.. tbne,····.·. ·on~to-o!J,e ~g·•·••• •us~ efficiencies. of technology to· communicate with large ril#Dbers of people individually;

S~C!J,tg\i()Jl ~~{~¥~i.~ovril ~~t ~~; _.~f ~Kef&t or»segm.ents.eacl\·••of Wbicll has a se.t ot distitiguishlng ebara¢teristios. SometiJpes . segments can be divided ·into . even smaller .. t.Wts, called nutrket niches. Often, howe~r, the totms segment and· nlche are uled tn~ch8ngeably.

By lpli~ng tbe ~t in~. sePJlts yol! · multiplM ypur opti®s . for st@tegJ~ . procl~ positio~~· promotiolltil .. planniQ.g, · .pricing, distributiOn and. sales force deployment.

262

:-,

• the .. ••·· ~~til!j~n fY~ .. /(usil)s ~~~. ~l)i.~ J:l~ ···.~~k

··~r~~leJi..fortJl!!.of S~tatil)~· • . eaiWai.in c:o~ c<>uld not ·.· supp011: re-

ti~g ini~ye~-• ~~s. for tni~tillg 7~ients was tfute,. .con~g, in:"accurato .jji.d; ¢0stly.

•··· .. ·.·slll'P~ .. ~i.ii~n .. of revenue, s~; ....

· • r;w~di{flwltto ~$Ul11Ciientswere

~fh~~t: . *· • >" <' .... ·.·•·• ···••· . . .• • r~··w~· ~e s··~ matte ~ 'yl~~ts ~re''i~s .. dle riglilset .. Qf .. b~and ~~f.·· ...... ·· .... · .. · ........ ···•·

.., tt .wa$'.:Jiiffioult to cre'te tlQd :manage )l))i~~ ofotf~. . · .... ···•·· .· ..... · ...... .

··• · :rt.~.v~ difti¢Ult t99Db~eQffet$ -in manY ~~s ~ was impos$lb~e. . . .·· ·• .. ·•.···· · .. · .• ···~ •

• It was .~iftlCult to ·. ~eep .. ·tin .field < . informed and know}e(fgeal'>le · o~ current offers. · · ·

. • It . was itnp()ssible to bl'U or q]wge . pros~··.···.. .

• lt was proble~a~l to obaige f'Or•many p~tsand servioes. ·

<'·· "' . • •, •.·,c·c

. the new Se~11tatio11 ········. ·. . ... •• • acc<>DlJ>lisll t!Je :~~teg)'j ;., .... · .. e.~~tfus department Wf!SpJ.atmmsfor &Qil:)Dg, ·

• En~~~ that customers receive the app~l.'iate level of service . based on their a$Setst tiading, behavior, or any dataw~~~etouse.

• Replacef .. C!lmpaign COc!~s in a ph~ 8pJ>roac~ wl~ a . riiOre tleldblo ~~~on.s~~

• A~to~te$ ad. .··lnro~ &rl¢• ~( ~$fQtnet" migratiOn. · · ·

• Displays detailed ~ament 11\fonnation 'Vj,aRep desktop.

• · 'ln~aces with Marketing, Operations and reporting ~~;

Segmentation no':V 8Jtows ... custopwrs to have multiple •tevels' q(Segntents b8$ed on ~l~st any rnulti~le. of ~s: GelW~• .. ~~e -- ~Y ~rsonal· (ij).ta.; Pre.~~n~(P,st~~~nt; Preferences, CJtannels, etc.. The lead time fl)r orea*'m or cltanjes of segments is ~ignifieatttly shortened to about 2 weeks. and provides . an easier enrolment and migration up or doWn within the Sigua,ture Servic~IUerarchy.

OfferManase~t

'· ,_. f.:. ,,- -. ' :,, .: ' :: '~ '

• Creates :.one :~Uzed location \VPeJ:C:: henefits'}~d Jn®J1i.ive8 can be ~~A~a . and \iieweo. · ·

• lncl'ta$es customer aoquisi#on and reteJltion throup customized incentives (fee and non-~ based).

• lnc~es ~mer ~tis~tion tl}roy3h segment-4ri~n Pric0s and'benefl.~- · ·

• C~ates. a ~e~cpustomer. experieqce regardJep oftlie offer channel.

• Generaq,s non-trade related revenue.

Qff:er .~af~AAt'isn6w able .t<>· ·bun4le o;~un"' ~.iipy p~uct or se~ce,~ lfiate,;up':an Offer, It~s. 31$0 able t91l!lfldle .. wt offers,.~ allow offets only thtoup certaitJ. Qhannels. · by certain Reps (Branches, CallTeatna, etc.). Th7 cb,anges and updates· to offera ~·flQwquioj(.and

253

multipl~··pri®la .. iohe~base<l·.onSegtnen~·~~ 8tso avili1a1:11~~ · ······ · · · · · · · · ·.. · ·· · · · • ~ ' .. . ' -~

Billing .A-isb:a~()n as •. $e. tb.li<l ctitical p~c.· .... of the system, ·

' - .. ;_.,.- :;.:. :. ' ,_ ' .·,_/" .

• Allo\y~~or PJ-osp~ts·to ;<;'QUtea!t'ot,.!l~ feet~~ .. mcentl~es, . .. . . . . . · ... •~ ... ·... ..·

• Intreases ~tomer · S$tigtiwtion ~ an . ~d .···•·.. irtvo~ .· . (J:ed\lci!J>. atnbi.gtdty ; .. ~• ... charges) · and ~' setvj~.ep~~; ..... · ... ·.··... •..... . · ... · .. · .. ··· .....•

• Reduces ·the • ba¢k .. end ·. ~JlectlQ~ p~ss · .. · .· ~ti'o~t. real~~~., • "~on~C.f ··•···• ~- .· ·•.·· ...... · .·

• A.llo~.for b6tter ~~ ~g Of lost re~1;1e from W&ived . ~s or 4.iscoUn.ted prlcillg.

.· . .-. " .

Bipjng is abl~ .. to !!9pPort o~ tliat •. havo tnUltiple pPOing . sche~s. .·It 1&1S9. gives !p.Or~. :fk,xibjlity to1]le field tbr discounts and waiVers and ptov~des easy • U$e ·of SIJbscriptions and. other ti~based. charges, ·

. . ln· .. su~ the benefits of the SOMBA Se~ntati!)n ~e ·

,.. . < ;:.·· 7

• . ·~.~~~~~~·~~~~~engine • D~ilare of rccon:t for

•• <i'....._~..:

>lll~!'lu~on . . .. · .•. •··•·.···· '> ....•...• • f~{u)deasy oreati()n o~n&W segments .

• Hotisebotd, Customer ·4Uld AQCQunt level ·segments

• Supports J4atbtihg, Operation~ ·~·· ~alysis .•..•...... ·· ......•. · .... · •. . .... ·

• SttPP~rtt Profl~~e ·'us !pes. ~tlltegy

conclusion

\'Vitti/ ~o ..... ~~IJlde~t. ~{.>~~ cq~~w·~Jiow· .. ~·•.··~·~!~~ with 1dwer east:It>is .Wi~t · ~d Within the ····· ....... ······ ..... ·· "!,.. .. > •. th1anci'9 . services }nauslry ~ the qtiest,ioh '1$ m>t hOW 'big el~nio tradinJ wiU become but Jlo'! rnuclt it wlll do~ the securities market, am<l .. when>will. they ~me tbe only

~;tY:.r·~, ·~dr .. ·~.. ~~~ . . ·tQ,all"P~~t····~····the }.·. . .. , ..... . d.f&~.·· t(). pqrsue the 8yn*BY'' .. ··· ..... ·~r· ·of blencfitt& teohnOlQJY and CUStoinef serviee early on. This foresi'Jbt and vision frQm : t;he management pUt . the company in a strong poskl.on to take advantage of this emer.cing teebnotQgy.

·fv(FI's yision was always ·r<>euse<J Jo serVm~, ~." otlsfomeJ:'. ·Its. vision ~.ce fl1e early seventies ~<f with a simple idea:" to provide iny~~~rs Wftb. the .Jllf>&t usefull atld .etbi~al ~· setyi~:.in ~IIlerica."···· A.fWl:iJ\vMty years file vision of the compl&lly \$· .. ·... · to reflect :tbb. oha:nges in the oustot:ner'sr:n . s and tbe changes . in technolo~r. The 11ew lnte1lla~01l,al . fO~any'' . vision bec~:''proyide . c~s!()~rs with the . IJ.l®t use:t\llf ~·•• ~thical finaricial $el"Vices in the world."

·.O~e adY:aa~@;~olPgy hM PJO~ in~~t y~i~;tbe.~llitytomonito~ wbltit is d).at OU&to]llers want or need Qll. ~ ()ngofns basis .... · Tecbholo~ oan also betp \~ffiPanles deternlin~ to what extent . CU&tQI.lle'ts ~ satisfied, $0 that chanjes andasj~unents· ~n.be · made almost.ihstan~eously ... qrgani!att<F.~ challenged. to buUd]n ~proc~~Qat "co~ffl#tly monitors, feed$, ,querties, verifies, trles;~iind initiaws.'' In dojng. tbisi lhc!Y wilt b~ preparing for surviyat in the 21 11 certtw:y, wnen ~ustomors wlll expect companies to be a war$ of their ne<lds

254

CO~ie~,~~Yf! littlept~le~ SJ)e~hg:.brge · ..... ~~~~~~~~~"~nso~~d·••·eveit·~~e.,

''IQ. ~~ tb.e~~· .• BU4;~ many; cases:. ~e~ t®·telu<;tant or ·~ep. unWilUpg tf> sp~d ~b.· ~noyon .~ ~··.·.S~b~~'eJ,,expept ~·tJie. ~~~t.ooursecio~bu~s. ~e.,data wi~·~tll~ · t1~'int>m be k~t ~~ w~t: tr)liJ '@~; happ~ an~ ~Yti~~9 cdirip:~y•$ ~~:is ~9 bacf;tn,SthiP~o~·~~t ey~ll ~liver~e ~~ All' <>14!f~ct nmkotin4 a+OioJ1tis thata . ~pro~ ~~ffet ~t tf> ·4 bad•Jjst wiJI·· not ~o Q welLa,S ~.,i~~]>f()grant and·.~ ~tto a .fe~.t list. A; .• ~et'fWl.J~Vfe~,to c~g &a~. revenU(I ii:.Gt&' .,f.q .tho ooOlP.l~ess IUid ~y of.!he. · .... · . So1. C,lle .~sic is to ~ ~veqone .•.. , tb.~~luepf·~;aat,a#l)d< lbe need.to $l'tm4.money f9r ~~.the·~ info~on ·and keeping it 1ijxl8.tea(Coe ); ··

'R.~etences

c~. Jo~ M·· 'faowto B~ikl yoU!' Company's ~~. \ /OataP~"· Amal'ican Markednl A$o0lationt•l99l

~;.;~m .. an~· 13~\Y.i~~. ~~f;ontro,l. 'f'Rrri9t«!~1s," ...... H~ard · busit1es~; Revie~ J(n~;f:ebruacyJ 996 . . ...... .. } <

1r~~. ·D~L fl·.:~.···~·· 1· .. La.~~. . '«,CiJst9tnW.·u~~t,''Fhe IC.ey· to ~·· · .. ·. SatiSf'actiQR; 01SfA)~ .. Lo~lty. •·· ~···• ~ltet S!iarel'J~.utmJ ofBusmess L()gistiC$, Vol lS. No.l,l994 ·

. .

M~. r.~ Rt>wlmtd T. ~d Gor4oJ1 s. ~~airz, ~'AIUpJllllti~ to ijoP~.Sai~s and Marlc.~g," Harvard ®sines$:: ... Re'ijew, ~~~-Feb~. 1989

Norton, P~y ·.:€tit put'foi ~~ss: . tatletins :~ ~gmetlts· ~~~~p y~ cJllll) ~·bigger s-of the overall market," sal~ & M4rlr4ting Management, April1994 vl46 n4 p4J(2)

PotflWlk, S., Pavid~ Clicks and M(Jrlrir, Jo~-· Bay btc;, 2000 ·

SeYbbld,B., Patricia; 1-®bustotl\er Revol\:tff<m (New York: Crown Bus~ 2001) ·· · · ·

1Uraer; L• •. Mflci~~ itow 'id' think like:·;tfte jrea.test Marketing Minds (New York: McGraw-Hill, 2001) ·

256