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Creating channel migration strategies

for a Retail Bank using Analytics


Solution Overview
In years gone by, a single channel used to be all that banks needed to
deliver products or services to their customers. Customers are now
demanding much more choice. Research shows that multichannel
customers spend 20 to 30 percent more money, on average, than
single-channel ones do, and channels such as the Internet promise big
cost savings.
Yet multichannel marketing is harder than it might appear.
Retail banks are constantly struggling with managing high traffic in their
branches. Meanwhile customers who walk into their branches are the
costliest to serve and it is in the interest of the bank to steer customers
towards lower cost channels.
Business problem-Net banking, Phone banking, Mobile banking & other channels

■ How do we migrate more savings account customers to register and activate their Net Banking and Mobile Banking accounts?

■ How do we increase the width of Net Banking & Mobile Banking usage with customers? Can we get customers to use Net
Banking & Mobile Banking to “view balances” and also do transactions such as “fund transfer”?

■ How do we prevent customers attriting from their month on month behavior? So how do we get them to remain “sticky” to Net
banking & Mobile Banking?

■ How do we engage the customer with a life cycle approach?

Our approach

Integrated Customer Analytical


View- Marketing Solutions
Data

Integrated customer view – Marketing Data Mart

Integrated customer view is the first hurdle that any bank meets. It is important to have all customer/account / transaction data at
one place and to be able to link customers across their product holdings. In all probability, every product line within a bank sits on
a separate system (mainframes or database). The Customer Information System (CIS) should be able to link all customers from
various product systems and define the various relationships (house holding). If the Bank does not have a CIS system, then they
need to build a marketing data mart wherein individual customers /accounts need to be gathered from various systems and the
customer integration process begun.

Cequity can help banks build the robust retail banking industry marketing system that is scalable to
any size of business and also carry out the integration in a very seamless fashion.

MARKETING DATA MART


Customer Value
Customer Sales Data Campaign Management
Models
Customer Value
Offer Management
Price Sensitivity Offer History
Models
Offer Response History
Offer Personalization
Offer Elasticity
Incremental Value
Rules Response Incremental Value

Marketing ROI
Measurement &
Reporting
This marketing data mart will include customer attributes plus transaction information across channels, product holding and daily
liability transaction detail linked with campaign history and response, including data quality processes and computation of a broad
array of standard marketing metrics.
Channel Start/End Date
Channel Transaction Type

Account Details

te a e
In d D Dat

te
Account

re te
Ra
Type, Currency,

ive n rt

st
ct ct E Sta
Status, Balance,

P od ct
Pr odu
Ef rodu uct
Branch

Pr
Customer
Customer Type

fe
Customer Segment
Customer Demographics
Using this marketing data mart attributes Cequity has the capability to build custom models and carry out a range of Analytical
Solutions designed to meet banks specific marketing needs and business objectives.

Analytical Solution

■ Cequity’s Customer lifecycle approach can be customized to allow us to treat each segment differently.
■ Depending on the stage in the lifecycle a variety of Analytical Models can be built to change customer behavior.

NETBANKING
CONSTRUCT

New Acquisitions Registered but Registered but


never used used
ß New Registrations
of liability customers
ß Acquisition score card
ß Activation Model
ß Campaign Construct redesigned
Attrition-Proactive Dormant (Ever used Active Users (Ever
to use the model effieciently
Retention but not used for last six used in last six
ß Score cards by customer vintage
months) months)

ß Customers who remain ß Tough Nuts ß Migration of customers from


in-active after dormant ß Dormant reactivation non-financial towards financial
re-activation campaigns score card transactions
ß Proactive retention activity ß Use Up-Sell score card ß Segment migration tracking
once active ß Dormancy prediction model

Retail Banking Industry Solution Functionality

Customer Analytics

■ Profile, segment and analyze the attributes, metrics ■ Create Analytical Models to predict channel migration
and behavior of customers and prospects over time cross-sell, up-sell, customer profitability etc.
■ Visit patterns such as recency and frequency scoring index ■ Customer acquisition and retention
■ Create Channel penetration indices basis RFM ■ Demographic, geographic and psychographic attribute

Marketing Analytics

■ Measure and analyze the incremental financial performance ■ Marketing ROI


of all marketing activities by campaign / promotion, marketing ■ Response, offer redemption and promotion participation
channel, offer and individual customer or any other segment
of customers
Our Services
CEQUITY’S services are powered with deep domain expertise and process excellence by adding Intelligence to Information. Our
banking Analytics consultants are capable of generating effective solutions to your business problems and quickly provide you with
a competitive price and turn-around time. Choose from a wide array of reports covering demographic trends, consumer spending
potential, business profiles, consumer segmentation, activity volumes and more.

Our Analytical Consultants are qualified to provide deep insights by objectively analyzing vast amount of customer transactional
lifestyle and secondary data to help make quick business impact. Our consultants have rich experience in key verticals like: financial
services, insurance, mortgage, retail, travel, entertainment & telecommunications.

Our analytics services include:

CEQUITY BIZACTION – Modeling Services

Insight2Action Acquisition Models Insight2Action Value-build Models Insight2Action Retention Models

Prospect Modeling and Scoring Cross-Sell/Up-Sell Analytics Churn Prediction


Lead Scoring and Enhancement Lifecycle Profiling Attrition Models
Optimal Contact Strategy Development Response/Conversion Modeling
Portfolio Analysis CLTV Modeling Segmentation Models

About Cequity
Customer Equity Solutions (Cequity) Pvt. Ltd. is an IT-enabled Customer Experience Management Company which will help
enterprises improve marketing performance and accelerates customer relationships.

We help enterprises by combining data, technology and services to build actionable analytical marketing frameworks, optimize
marketing performance and accelerate real-time customer engagement. Thereby, enabling greater ROI on their marketing
technology investments. Cequity brings a blended perspective which allows companies to bring the power of Marketing automation
technology to business problems. Our services include:
Customer Management Consulting Managed Campaign Management Services
Managed Analytics Marketing Operations and Measurement Services
Marketing Database Solutions Event Driven Marketing Services

Contact us:
Customer Equity Solutions Pvt. Ltd.
India USA
Mumbai Office: Chicago Office:
105-106, 1st Floor, Anand Estate, 189-A, Sane Guruji Marg, 626, Grove Street, Evantson, IL 60201
Mahalaxmi, Mumbai-400 011, India
Phone: +91 22 23000133 / 23054039, Fax: +91 22 23053809

Website: www.cequitysolutions.com Email: info@cequitysolutions.com