Marketing for financial institutions. Part One: Campaigns

Sad but true

In order to somehow systematize my knowledge of digital marketing (a fashionable phrase nowadays) I decided to write a series of articles on how I personally managed to put marketing in financial institutions (aka banks) in order.

Intro

I have been involved in Oracle Siebel projects for a long time, but now I’ve been in the field of business analysis, although I have quite a lot of experience implementing solutions based on this product (5+ years). And every time, completely on any marketing project, I see that it is not always the customer who has a clear understanding of how to do marketing in the realities of the 21st century.

To begin with, under absolutely any conditions, the return on the implementation of the marketing solution is slightly more than the maximum of the entire possible set of directions (sales, debt collection, consolidation of the customer base, credit conveyors, etc.).

This article focuses on campaigns: what are the types and types to which they apply. I sincerely hope for the Habra community in terms of questions and the direction of my reasoning in future articles.
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Types of campaigns

Single wavelengths

Everything is extremely simple - we launch the campaign, collect the results (responses), take the favorite Excel BI-tool and analyze the results.
Single-wave campaigns work great when the number of campaign participants is of reasonable size.
An excellent example of a single-wave campaign is to move sleeping clients with some special offer so that they return to the home of evil money (more about sleeping clients a little later).

Multi-wave

Multi-wave campaigns were born from the understanding that in real life not all campaign participants can be processed in one pass. Of course, the exceptions are campaigns that are focused on electronic delivery channels, but for, say, outgoing calls, resources are limited by the number of operators (either their own or outsource) - an excessive load on delivery channels with human resources entails not fully conducted campaigns (not All were called around, for example), so it’s difficult to evaluate the results of such a campaign. For electronic channels, the wave option is also applicable if, for example, an outsource gateway is used for distribution with stepwise pricing (ie, inhuman delivery).

Therefore, for large-scale campaigns, the concept of waves is used: a large segment of campaign participants hit portions that are transmitted to processing channels, while planning a campaign, they assume that a certain channel performs 100% of the next “pack” in a given period of time (usually measured for weeks or month).

In my experience, I can say that few people do multi-wave campaigns - usually after calculating capacity through channels, the segments of campaign participants are smaller and launch single-wave campaigns.

The beauty of multi-wave campaigns is that each wave can be scheduled to start in advance and then not fool with the manual start.

In a multiwave marketing biathlon, I would have to run a few laps.

Campaign Types

If the campaign type gives us an idea of ​​how many hits this campaign will be conducted on, then the type of campaign tells us what we are trying to achieve with this campaign. The following types are mainly distinguished:

• Acquisition of new customers;
• Increase customer awareness of bank products and services;
• Cross sales;
• Increase customer loyalty;
• Stimulation through recommendations;
• Customer retention;
• Additional / increase sales;
• Interception of foreign clients.

Acquisition of new customers

This type of campaign is aimed at processing so-called. "Prospectuses" - promising customers, but still not such.

How to become an avenue? Go to the bank and leave your contact information, while you can not get anything from the bank.

Before the start of such a campaign, customers are separated from the entire customer base (in fact, they are not called customers), who do not have a single product / service at all. And for such “meek” some simple offer is made, for example, a debit card with a cash back / bonus scheme and a grace period of six months or a year.

Raising customer awareness of bank products and services

In this case, it is not the “prospectuses” that are processed, but the real customers. A feature of such customers, as a rule, is the use of a banking product for a very long amount of time without switching / connecting additional services. For example, a client at some point put 300 thousand rubles on a deposit at 7% per annum with a prolongation, and has been holding this deposit for several years, although the bank has exactly the same product in the portfolio, only at a more favorable rate and with capitalization. Accordingly, it would be nice to talk about this to the client, and he, you see, and something else will look at the load on the deposit.

Cross selling

A classic example of campaigns that is ubiquitous. An example from a retail sales textbook: if a customer purchases a camera, sell a case, a protective filter and an extra battery to the load. The essence of cross-sales is not to sell a similar product, but more expensive, but at the same time “hang up” the client with additional things . In banks, the following type of campaign is usually used: for credit card holders who do not have an Internet bank connected, they form an offer to connect this Internet bank (when it is paid, otherwise why?).

Increase customer loyalty

Yes, these are the same points, bonuses, virtual rubles, miles, and so on. This type of campaign aims to increase customer spending in the pursuit of mythical bonuses. It occurs everywhere.

Stimulation through recommendations

Also a classic example of a campaign called referral campaign in a foreign way: bring a friend, you will receive a nurse. Why do people bite at it? Because virtual cakes are given for this: service discounts, 100,500 points, a free month of service in the concierge service (some of them have their roofs blown away, banks like them).

Customer retention

A very delicate thing that I personally saw only 1-2 times. The bottom line is that the CII is not sleeping, and in theory the bank may know about where and in what amounts you use banking services, including competitors. And as soon as the bank realizes that the number of transactions (read, money) starts to decrease, this switch is turned on to take you back to the bank. In this case, get a secret weapon : personal offers. The bottom line is that for a very narrow circle of clients, similar to each other like two drops of water (from the bank’s point of view, naturally), they form an offer with individual conditions that sometimes contradict all the laws of physics , and offer this campaign as part of this campaign. reaction as a professor Preobrazhensky. And it is this kind of campaign aimed at "sleeping clients."

Additional / boosting sales

Unlike cross-sales, here they offer more expensive goods, but better: platinum cards instead of regular ones, for example. By the way, very often cross-selling and raising sales are lumped together, without really understanding what and where.

Interception of foreign clients

A subtle thing that is not always talked about, especially in the presence of consultants. The point is to distract the customer from the use of competitor's products and attract him again. How does the bank know about such things? It’s very simple, when you fill out a loan application form, you specify on a mandatory basis what other existing products / loans you have. Then everything is simple.

To whom apply

Or, in other words, what are customer segments?

It's all about the segments,% habrauser%!

In part, I have already written about this above, but now a little more.
KOs will notice that campaigns are distributed to customers, and will be damn right, but how many? In my practice I saw only two (maybe three, but with a very big stretch) approach:

• Segmented campaigns;
• General (non-segmented) campaigns.

At the same time, segmented campaigns are divided into individual (see “Customer retention”) and portfolio campaigns. The main difference is the number of customers in the segment. For individual campaigns, 2-3 dozen are recruited per segment, for portfolio campaigns - from several hundred to several thousand.

The segmentation rules sometimes take on a completely monstrous appearance, for example: give me all male clients whose age is from 24 to 29 years old, married, without children, without delay in loans and always with a mortgage, living in Kazan.

If we talk about the Collection (collection of overdue debts), then there the segments are based mainly on the value of the delay to the nearest ruble.

Common (non-segmented) campaigns are used to hold any actions, for example, for all customers who opened a deposit this month, the bank gives 2000 bonuses to the account (an example of a non-segmented campaign to increase customer loyalty).

An important point: if you plan to give 2000 bonuses for opening a deposit this month only to Novosibirsk customers, this is no longer a general campaign, but a registered city segmented by a single attribute.

Outro

I hope that the material will be useful, maybe for someone new.
In the next article, I announce a story about the channels for the delivery of offers and how the campaign is conducted depending on the channel.