Escolar Documentos
Profissional Documentos
Cultura Documentos
Prof. Chan Chi Fai, Department of Marketing Prof. Lai Siu King, Department of Decision Science and Economics Prof. Lau Kin Nam, Department of Marketing Prof. Leung Kwong Sak, Department of Computer Science and Engineering Prof. Leung Pui Lam, Department of Statistics Prof. Leung Yee, Department of Geography
The Introduction
by Prof. Chan Chi Fai
Introduction:
CUHK research project supported by : 0.7M 3.5M Strategic Research Fund, CUHK Innovation and Technology Fund from Industry Department of SAR
Hong Kongs first prominent academic/business cooperation on design and implementation of Customer Relationship Management system for financial institutions A major Bank in Hong Kong participated as industry partner to provide data for pilot system implementation since Jan 99
Page I1
The Study
by Prof. Lau Kin Nam
Contents:
Bank Marketing Objectives Marketing Technology in the Information Era CRM fundamentals Major types of Selling CRM Roadmaps
Phase 1 : Data Capturing Phase 2 : Data Cleansing Phase 3 : Data Mining Applications
Page S1
Increase utilization
Customer retention Win-back
Page S2
Page S3
CRM Fundamentals
Customer Focus
Speed Technology
Selling by Information Selling by Relationship Selling by Automation
Page S4
Page S5
CRM Roadmap
Autopay
Employers
Salary
Purchases
Retail Customers
Purchases
Merchants
Card data
Browsing data
In-house data
A. Types:
Product Usage Data Demographics Socio-economics Transactional Data
Credit Card EPS PPS Autopay/payroll MPF
BACK
B. Problems:
Outdated Incomplete Isolated
Channel Data
Page S7
Phase 1
Standardization of data and format Identification of household relationship
update
Customer Survey
Enriched Database
fusion
External databases
Validation
Phase 3
Page S8
Example:
Address standardization:
Unformatted: 4/F., K.K. Leung Bldg., ShaTin, N.T. Formatted: Room no.
Floor
Building Street
District
Page S9
Example:
Name standardization:
Unformatted: Andrew C.F. Chan
BACK
Formatted:
Last Name First Name Christian Name
Page S10
Example:
Mr. Chan Tai Man
Sex :M Age : 32 Tel. : 26096000 Address : 25, 5/F., CRM building, Sha Tin, NT.
BACK
Couple
The Chinese University of Hong Kong Page S11
Example:
Job Classification
Address Classification Life-stage Classification Credit Card Merchant Classification SME Classification
BACK
Page S12
Example:
Census
Property transaction database
BACK
Page S13
Survey:
Contact information
Phone, Business address, Email, Website
BACK
Updated demographics
Marital Status, Number of dependants, Spouses information
Socio-economics
Job, Income, Property ownership, Car ownership
Product Interests
UT Insurance Deposit Yes Yes Yes No No No
Page S14
BACK
Enrichment Examples:
Signal ATM withdrawal from race-course ISP payment from credit card School payment Change of address Enrichment variables: Gambling Internet user Age and number of kids Buy/sell property
Page S15
Example:
BACK
Integrated Database
Category Variables
Contact Information e.g. Address, phone (Business/home), E-mail, website Demographics Socio-economics Household Information Relationship Variables e.g. Age, sex, marital status, Life stage e.g. Income, job, education, property ownership, car ownership, social class e.g. Household Income, Numbers/Age of dependants, Spouse information e.g. Overall tenure, product tenure, past profitability, No. of product
Product Ownership/ e.g. RFM (card), Deposit, Loan, UT, Insurance Usage
Channel e.g. Branch, ATM, Phone, Internet
Behavioral variables e.g. Gambling, Travel, Degree of Luxury, Life-style, Risk attitude
Page S17
Next part
Phase 2
Customer and product segmentation
Marketing campaigns
Prediction model
Attrition Analysis
Customer retention
Segmentations:
1. By occupation 2. Prizm scheme =
Lifestage Address class
Single Married Married with kids Retired
Public
Page S19
Segmentations:
3. by shareholders variables
Profitability
Low Medium High
BACK
New
Tenure
13
3+
Page S20
Current Basket
Future Basket
Mortgage UT
Future Value
Page S21
BACK
Future Value
Low High Let go/stay High Retention / Loyalty Program
Past Value
Low De-marketing Aggressive selling
Page S22
Campaign Management:
Potential Customers in the Database
BACK
Selected
Selected
Non-Adopters
Page S23
CRM System:
Data Capturing
Data Retrieval
Data Analysis Data Application Sales Execution and Automation
The Chinese University of Hong Kong Page S24
A Comparison:
Before CRM:
Selling a good product by Advertising Personal Selling
After CRM:
Selling a good product by Information Relationship Automation Customer Based Selling
Page S25
(Brand Awareness)
Page S26
Banking Products
Page S27
End of Presentation
Page S28
Coffee Break
Venue Time : 1/F Foyer : 10:45 a.m. 11:15 a.m.