omni channel customer activation
TRANSCRIPT
Omni-Channel New Customer OnBoarding LAUNCH: August 2011 REFRESH: August 2013 November 2014
&
PROFITABILITY UPDATE Maximize acquisition by activating accounts and improving retention.
SITUATION
ASSIGNMENT
KPIs
Likelihood of retention increases
when:
New Household Acquisition • Successful acquisition promo • Increased volume • Widget-based banker incentive • Decreased time at POS • Retention affected
Change incentive?
Marketing treatment? Couldn’t
hurt.
No. That will cause turn-over.
+7% Retain Activate K Account Funded K Direct Deposit K Enrolled in Online Banking K Debit Card Activated K Enrolled in Bill Pay K Paperless Statements
&
PROFITABILITY UPDATE Maximize acquisition by activating accounts and improving retention.
SITUATION
ASSIGNMENT
KPIs
New Household Acquisition • Successful acquisition promo • Increased volume • Widget-based banker incentive • Decreased time at POS • Retention affected
Change incentive?
Marketing treatment? Couldn’t
hurt.
No. That will cause turn-over.
+7% Retain Activate
KPIs
Likelihood of retention increases
when:
K Account Funded K Direct Deposit K Enrolled in Online Banking K Debit Card Activated K Enrolled in Bill Pay K Paperless Statements
PROFITABILITY UPDATE Maximize acquisition by activating accounts and improving retention.
SITUATION
New Household Acquisition +7% &
ASSIGNMENT
Change incentive?
Marketing treatment? Couldn’t
hurt.
No. That will cause turn-over.
Retain Activate
KPIs
Likelihood of retention increases
when:
K Account Funded K Direct Deposit K Enrolled in Online Banking K Debit Card Activated K Enrolled in Bill Pay K Paperless Statements
• Successful acquisition promo • Increased volume • Widget-based banker incentive • Decreased time at POS • Retention affected
SOLUTION: Omni-Channel OnBoarding Automated system of digital & human touch-points driven by customer data.
PRODUCT PROPENSITY
SCORING WEALTH SCORING
INDEXING TO PORTFOLIO
CUSTOMER PROFILE
ACCOUNT ACTIVITY
IBM
CA
MPA
IGN
Weekly E-Mail
Interstitials & Banners
POS Prompts
@
Concierge Calls
Branch Calls
SALESFORCE.COM
“IT’S REALLY SMART!”
IBM EXACT TARGET
- Only inactive customers receive this contact
Branch
Day 65 X-Sell
Day 7 Activate
Day 14 Activate
Day 30 Activate
Day 40 X-Sell
Day 35 $0 Balance
POS System
Automated Messages Online Banking
Day 1 Welcome
Day 35 $0 Balance
Day 65 X-Sell
Day 40 X-Sell
Day 14 Activate
Concierge Calling
Always On
Always On
New Customer Experience Days 1-35 = Activation Days 36-90 = Cross-Sell
Concierge Calls
Branch Calls
SALESFORCE.COM
Weekly E-Mail
Interstitials & Banners
POS Prompts
@
Sam
ple
Act
ivat
ion
E-M
ails
- Only inactive customers receive this contact
Sam
ple
Act
ivat
ion
Onl
ine
Bann
ers
Day 65 X-Sell
Day 7 Activate
Day 14 Activate
Day 30 Activate
Day 40 X-Sell
Day 35 $0 Balance
POS System
Automated Messages
Online Banking
Day 1 Welcome
Always On
Always On
PRIORITY #1: Retention thru Activation Customized email from inventory of 1,200 messages.
Sam
ple
Up-S
ell E
-Mai
ls
Sam
ple
Cro
ss-S
ell
Onl
ine
Bann
ers
Day 65 X-Sell
Day 7 Activate
Day 14 Activate
Day 30 Activate
Day 40 X-Sell
Day 35 $0 Balance
POS System
Automated Messages
Online Banking
Day 1 Welcome
Always On
Always On
PRIORITY #2: Profitability thru Cross-Sell Product propensity and wealth modeling triggers offers.
RESULTS: Retention May 2011 industry benchmark showed Huntington lagging 15.5% behind Peer retention performance.
+ & Retain Activate
By November 2012, Huntington led the Peer category and performed
1
% 0 1
.
above the Peer average.
Source: BAI Industry Performance Review