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Have you met Customer 3.0? An omnichannel approach to growth
© 2015 Experian Information Solutions, Inc. All rights reserved. Experian Public. 2
Mara Nicholl Experian
Introducing:
@ExperianVision | #vision2015
Follow us on Twitter:
Insights
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Taking a look at changing
consumer behaviors
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Evolution of the consumer From 1.0 to 3.0
http://www.accenture.com/SiteCollectionDocuments/Accenture-Customer-3.0-POV-Final-v2.pdf
Customer 1.0
Birth of the Web
Internet was little more than yellow pages
Reactionary behavior
Customer 2.0
Internet-only businesses
Consumers search additional information
One-size fits all model
Businesses seek out consumers online
Consumers are hyper-connected
Requires customization Customer 3.0
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Introducing Customer 3.0 Not who we thought
Consumer 3.0 is:
Highly informed
Price sensitive
Socially connected
Trust the crowd
Instant gratification
Self-promoting
Consumer 3.0 is not necessarily Gen Y
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Customers move across devices during the day
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What consumers expect:
Personalized engagement across all channels
Their wants and needs anticipated
Content and offers that directly align with their interests
Current trends Keeping tabs on shifting expectations
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74% of online consumers get
frustrated with websites when
content has nothing to do
with their interests.
– 2013 Online Personal
Experience study by Janrain
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Current trends An adapting industry
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Analytics
10
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Analyzing Customer 3.0 Creating the consumer profile – how we did it
Mobile users
Technology wizards
Technology journeymen
Technology apprentices
Technology novices
Technology adopters
Mobirati
Social connectors
Pragmatic adopters
Basic planners
Mobile professionals
No mobile phone
VantageScore® Estimated income Age
Trend ViewSM In the Market ModelSM
Consumer credit data
Consumer behavior data
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Analyzing Customer 3.0 Not who you think they are … AGE
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
Mobriati SocialConnector
PragmaticAdopters
BasicPlanners
MobileProfessionals
No MobilePhone
Po
pu
lati
on
by a
ge g
rou
p
Age of mobile users
70-87
50-69
35-49
21-34
0-20
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Analyzing Customer 3.0 Not who you think they are … AGE
0
50,000
100,000
150,000
200,000
250,000
Wizards Journeyman Apprentices Novices
Po
pu
lati
on
by a
ge
gro
up
Age of tech adopters
70-87
50-69
35-49
21-34
0-20
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Analyzing Customer 3.0 Not who you think they are … CREDIT QUALITY
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
Mobriati SocialConnector
PragmaticAdopters
BasicPlanners
MobileProfessionals
No MobilePhone
Po
pu
lati
on
by V
an
tag
eS
co
re®
VantageScore® for mobile users
Super Prime Prime Near Prime Subprime Deep Subprime
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Analyzing Customer 3.0 Not who you think they are … CREDIT QUALITY
0
50,000
100,000
150,000
200,000
250,000
Wizards Journeyman Apprentices Novices
Po
pu
lati
on
by V
an
tag
eS
co
re® c
ate
go
ry
VantageScore® of tech adopters
Super Prime Prime Near Prime Subprime Deep Subprime
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Analyzing Customer 3.0 Not who you think they are … SPEND
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
Mobriati SocialConnector
PragmaticAdopters
BasicPlanners
MobileProfessionals
No MobilePhone
Po
pu
lati
on
by T
ren
d V
iew
SM
Mobile user Trend ViewSM segments
Consolidator Rate Surfer Revolver Transactor Mixed
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Analyzing Customer 3.0 Not who you think they are … SPEND
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
Wizards Journeyman Apprentices Novices
Po
pu
lati
on
by T
ren
d V
iew
SM
Tech Adopters Trend ViewSM Segments
Consolidator Rate Surfer Revolver Transactor Mixed
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0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
Mobriati SocialConnector
PragmaticAdopters
BasicPlanners
MobileProfessionals
No MobilePhone
Po
pu
lati
on
by I
n t
he
Ma
rke
t M
od
elS
M b
an
kc
ard
In the Market ModelSM bankcard for mobile users
300-499 500-599 600-699 700-799 800-900
Analyzing Customer 3.0 Not who you think they are … PROPENSITY TO RESPOND
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Analyzing Customer 3.0 Not who you think they are … PROPENSITY TO RESPOND
0
50,000
100,000
150,000
200,000
250,000
Wizards Journeyman Apprentices Novices
Po
pu
lati
on
by I
n t
he
Ma
rke
t M
od
elS
M b
an
kc
ard
In the Market ModelSM bankcard for tech adopters
300-499 500-599 600-699 700-799 800-900
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Learning about Customer 3.0
They span multiple generations with a growing number of seniors
They have high credit quality with a focus in super prime and prime consumers
Strategies to target the online consumer:
Leverage online and offline tools for a cohesive consumer experience
Deliver consistent content messaging at every touch point
Use segmentation tools to target consumers across channels
Attracting Customer 3.0
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Growth
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The problem:
Reaching a diverse consumer group who increasingly prefers a digital channel for engagement
The goal:
Deliver ONE experience to the consumer regardless of channel
Instead of looking to replace, augment current strategies…
Create online and direct mail synergy –increase lift in campaign effectiveness through using multi-touch, multi-channel campaigns
Leverage mailed offers in mobile – increase ROI on current prescreen campaigns by creating an additional touch
Attracting Customer 3.0 A whole new world?
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Find your
audience
Authentication Credit
offers
Reach your
customers
Measure
results
What does omnichannel mean?
Phone Mobile
Online In-store
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Solution overview Online and offline data
Target consumers
Responds to
offer: <1%
Prescreen mail process
Mail firm offer
Even at <1%,
DM is still
profitable
Does not respond:
>99%
But how do you increase profit here?
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Solution overview Online and offline data
Does not
respond:
>99%
But how do you
increase profit here?
Checks
prescreened list
You’re
pre-approved!
Match CRM file to online identifier
Online ad presentation
Online-only
engagement
Yes
Client Website
Consumer enters PII
No
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Solution overview Online and offline data
Does not
respond:
>99%
But how do you
increase profit here?
File One℠
Match CRM file to online identifier
Online ad presentation
No
Online-only
engagement
Yes
Client Website
Consumer enters PII and consent
Checks
prescreened list
We have the best
fit options for you!
You’re
pre-approved!
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Mobile display: Firm offers of credit Instant and batch representation
Application
XYZBank
Emma
Johnson
123 Main St
City ST ZIP
APPLY
XYZBank
Welcome back,
Emma Johnson!
You’re pre-approved
for a credit card!
My Accounts
Deposit
Pay Bills
Login
XYZBank
You’ve been
pre-approved for a
Cash Back card, with
a credit limit of $5,000!
You can choose to stop receiving
"prescreened" offers of credit from
this and other companies by calling
toll-free 1-888-5-OPT-OUT. See
PRESCREEN & OPT-OUT NOTICE
below for more information about
prescreened offers.
Present offer Approval
XYZBank
Congratulations!
Your card is on its
way.
Start using
now
Add to digital
wallet
Prospecting in the mobile channel
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Consultative approach analyzing current strategies
Align offline and online prospecting objectives
Segment consumers by channel and spend/response propensity
Increase ROI while decreasing CPA
Moving to an omnichannel prospecting strategy
1
4
3
2
Experian has solutions to help you target effectively
and efficiently across channels and the credit spectrum
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Rethinking the digital consumer
We used to think the digital
consumer 3.0 was the Millennial …
We now understand that
Consumer 3.0 is much more.
– Jim Marous From Bricks to Clicks, Reaching the Digital Consumer 3.0,
BAI Retail Delivery 2014, November 12-14 Chicago
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For additional information,
please contact:
@ExperianVision | #vision2015
Follow us on Twitter:
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