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Financial services journey map

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1. Financial AWARE Natalie just turned 31 and has been married to Dave for two years. Her first child was born three months ago, and Natalie has just returned to work after maternity leave. Ambitious and smart, she is struggling a bit to find the balance between growing her career and her new parenting responsibilities. She takes the well-being of her family very seriously, and she knows that parenthood introduces a wide range of new financial considerations. As a digital native, Natalie is very technology savvy and uses various devices for work and at home. When she has a problem to solve, her first instinct is to grab her smart phone or tablet to research a solution, but she relies on the advice of others in her personal and professional circle to validate her decisions, especially when it comes to her finances. Natalie takes her new baby to the pediatrician. In the waiting room she sees pamphlets about planning for her childs future. While her baby is only a few months old, she knows from her older sisters experience, that it is never too soon to start saving for college. Customer Experience for Service Customer Analytics Real-Time Personalization Omni-Channel Experience Predictive Analytics Real-time Events and Alerts Social Conversation Understanding Customer PreferencesCAPABILITIES: Premiums Earned per Agent Net Income Ratio Engagement Index Sales Growth Lead to Quote Total Revenue per Policy Holder Interactions Quote to Close Rate Customer Satisfaction Policy Sales Grow This Customer Experience Map describes the art of the possible, based on IBMs thought leadership and extensive customer experience. KPIs RESEARCHING ENGAGED TRANSACTING ADVOCATING Understand Your Customers With Customer Analytics: Customers are more empowered and connected than ever, with unprecedented access to information anytime and anywhere. Their expectations are high, and their buying choices are based on positive interactions with your brand. Customer analytics can tell you who your customers are, what they are doing, what they want, and how and when to reach them, so that you can create personalized experiences that win more business and drive loyalty. Understand Your Customers With Customer Analytics: Customers are more empowered and connected than ever, with unprecedented access to information anytime and anywhere. Their expectations are high, and their buying choices are based on positive interactions with your brand. Customer analytics can tell you who your customers are, what they are doing, what they want, and how and when to reach them, so that you can create personalized experiences that win more business and drive loyalty. Curate Meaningful Customer Interactions With Real Time Personalization: Turn individual customer interactions into an opportunity for real-time, relevant engagement that results in better conversion, higher lifetime value and greater retention throughout the customer lifecycle. Automatically determine the best communications and best product offers for customers based on historical and real-time behavior as well as time frame, business constraints and marketing objectives, then dynamically display content in the moment based on passive or active customer actions. Curate Meaningful Customer Interactions With Real Time Personalization: Turn individual customer interactions into an opportunity for real-time, relevant engagement that results in better conversion, higher lifetime value and greater retention throughout the customer lifecycle. Automatically determine the best communications and best product offers for customers based on historical and real-time behavior as well as time frame, business constraints and marketing objectives, then dynamically display content in the moment based on passive or active customer actions. Ignite And Grow Customer Relationships With Omni-Channel Marketing: Target thousands or millions of individuals, with the right message at the right time through the right channel. Streamline internal processes with a central repository for re-usable offers, segments and contact & response history. Track and honor individual customer preferences, and quickly and cost- effectively design, execute, and measure customer-driven communication strategies across all of your channels, online and offline. Ignite And Grow Customer Relationships With Omni-Channel Marketing: Target thousands or millions of individuals, with the right message at the right time through the right channel. Streamline internal processes with a central repository for re-usable offers, segments and contact & response history. Track and honor individual customer preferences, and quickly and cost- effectively design, execute, and measure customer-driven communication strategies across all of your channels, online and offline. After the visit, Natalie tweets a picture of the baby with the caption 3 month shots todaycollege tomorrow?! Many of her friends as well as her sister see the tweet. After reading her tweet, one of the mothers in Natalies Working Mom Support Group direct messages her a link to a checklist of financial planning tips for new parents. Natalie clicks on the link from her phone and realizes that the checklist is actually from the Blu website, where she holds a term life policy. At the top of the list is add your new child to any insurance plans. She starts to access the Blu portal on her phone and gets as far as logging in, but then changes her mind. She makes a mental note to access the Guardian portal when she gets back to the office and add her new baby to her plan as a contingent beneficiary. Just as she is about to head back to the office, a text arrives from her sister with a link to information about 529 college plans. Feeling overwhelmed, she forwards the checklist link and the 529 link to her husband Dave with the message we have to talk! She is able to easily add her baby to her policy via the web portal and has just hit submit on the college savings calculator when her boss walks in to the office and calls her into a meeting. Back at home that evening, she is going through her email and sees a message from the agent who handled her life insurance purchase. To her surprise its a message congratulating her on the birth of her new baby with a personalized and interactive version of the check list her friend had sent. She sees that add baby to insurance and calculate what youll need to save for college are already checked off. There is also a button in the email inviting her to schedule a meeting with he advisor, plus various links to additional information on the Blu site. She uses the online tool to set an appointment for the following week, then she clicks through to the disability income replacement calculator but is quickly interrupted by her husband. Natalie speaks to Dave about her research and the concerns she has about being able to contribute enough to a 529 plan, let alone some of the other options on the checklist. He suggests that rather than try to figure it out on their own they should just wait to speak with their agent. When Natalie and her husband meet with their agent, he has prepared preliminary recommendations based on the information she provided in advance. He shows her how she can afford to increase her life insurance coverage and points out that they can start a 529 with a small monthly contribution, increasing it as their incomes increase. For disability coverage he recommends a plan from SmartChoice, but Natalie and her husband are concerned about the additional monthly expense. The agent suggests that they complete the rest of the worksheet and then explore the alternatives. As they talk, Natalie reveals that she changed jobs just before she learned she was pregnant and is now employed by Acme Supply Co. When her agent inputs her new employment information, he receives an alert on his screen that she likely has Blu disability coverage through her employer. The monthly payment for supplemental disability through Blu is significantly lower than the SmartChoice premium. Natalie and her husband are thrilled and finalize the 529, additional life and supplemental disability. Natalie and her agent agree to meet periodically to review her situation as both her family and career grow. On a quarterly basis, Natalie receives an email with a snapshot of her 529 savings progress and personalized advice to maintain her familys financial health. Lauren tweets I love Blu! and posts on Facebook about her experience. The head of the Working Moms Support Group direct messages her back and asks her to share what she has learned about planning for her babys future at their next meeting. Natalie asks her agent to join her as a guest speaker but asks that he not bring up SmartChoice! On a break between meetings, Natalie heads back to the Blu website and logs in. The first thing she sees is a pop up promoting 529 plans with an embedded college savings calculator. The next morning, as Natalie pulls into the office parking lot, a message pops up on her phone. Its from her agent confirming their appointment and providing a link to a worksheet that they will complete when they meet. She opens the worksheet from her desktop and is pleased to see that it is prepopulated with all of the information she entered into the college savings calculator as well as the information she provided when adding her baby to her life insurance policy. Even the partial information from the disability calculator has been included. This is going to be a productive meeting, she thinks. This Customer Experience Map has been specially developed by Jason Smith and Catrina Boisson. IBM Corp. 2014 Natalie Marketing Optimization

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