CUSTOMER JOURNEY ANALYTICS

From a focus on products to a focus on relationships- How adopting customer journey analytics and using the correct data/insights have helped improve customer experience

DATABEERS DUBLIN – 19TH JANUARY 2017

KRITHIKA RAMANARAYANAN DATA & INSIGHTS MANAGER, DAVY

@krithikaram

SPOT THE PATTERN…..

NEXT GEN CLIENT - iGENERATION

http://www.customerexperienceexchangefs.com/what-is-customer-experience-ftp-iframe https://www.youtube.com/watch?v=JRFrpr4W7cc

And how do you manage it?.....

Companies need to move from a ‘pull’ approach, of providing information after thecustomer requests it, to a ‘push’ approach, of proactively sending them the rightcontent at the right time.

The push approach requires deep contextual understanding of the customer andpowerful predictive algorithms so that a meaningful, personalised customerexperience can be produced.

CUSTOMER JOURNEYS

“Everyone’s talking about customer experience and design, but to produce better ROI it’s time to turn to the data. Design is as much science as it is art, and to see more focus on results-driven design using data, insights and analytics is crucial”

FINANCIAL SERVICES & CX

DATA GENTRIFICATION

Dynamic industry ecosystem - Fine-tunes capabilities and performance of people, processes and technologies, with data at its core

TRANSFORMING CUSTOMER JOURNEYS

It took a year-long cross-functional effort to embed this new approach, but it paid off. Customer satisfaction scores increased from below average to the top quartile, and the new strategy covered its costs in less than three months

EXAMPLE RETAIL BANK - FRAUD MANAGEMENT AS CUSTOMER SERVICE ENABLER !?

Mapped entire lifecycle of a retail banking customer

Measured contact frequency

Analysed Satisfaction & Dissatisfaction

Fraud & Transaction verification

Re-design fraud control process

New data-streams established: Cell-phone location data collected to trigger alerts to the fraud investigator

New Analytical models: Segmented customer sensitivity to fraud

Redefined contact frequency norms

Org. readiness (staffing, training etc..)