Post on 06-Aug-2015
transcript
ESRC Seminar Series"Financial Services and Consumers:Issues and challenges in a context of change”
Seminar 5: The role of new media and technology
The potential and pitfalls of using social media for segmentation
Dr. Ana Isabel Canhoto
Principal Lecturer in Marketing
Oxford Brookes University
Adomingos-canhoto@brookes.ac.uk
www.anacanhoto.com
@canhoto
Ana Canhoto, 2015
Compliance•Single Customer View (Financial Services Compensation Scheme)•Know Your Customer (Anti-Money Laundering regulations)
Follow the customer•Age of the social customer• User generated content
Makes (business) sense•Customer insight (opp & risk)•Targeted communications
Enhanced customer engagement•Niche opportunities• Cross selling• Proposition / Product
development
Ana Canhoto, 2015
Stage Benefit
1. Identifying and profiling customers
Data is of good quality – e.g., forums.Timely information.Provides insight into areas not covered by other data sources.Towards a single view of the customer.
2. Evaluating segment attractiveness
3. Positioning the company’s offer
Ana Canhoto, 2015
Stage Benefit
1. Identifying and profiling customers
Data is of good quality – e.g., forumsTimely information.Provides insight into areas not covered by other data sources.Towards a single view of the customer.
2. Evaluating segment attractiveness
Real time, granular data – specially for high value segmentsSelf-segmentation – e.g., communities of interest BUT earning right to participateInfluencers – e.g., Klout
3. Positioning the company’s offer
Ana Canhoto, 2015
Optimal Z
one’
Stage Benefit
1. Identifying and profiling customers
Data is of good quality – e.g., forumsTimely information.Provides insight into areas not covered by other data sources.Towards a single view of the customer.
2. Evaluating segment attractiveness
Real time, granular data – specially for high value segmentsSelf-segmentation – e.g., communities of interest BUT earning right to participateInfluencers – e.g., Klout
3. Positioning the company’s offer
Enables development of highly targeted propositions.Responsiveness and interaction creates deeper customer engagement
Ana Canhoto, 2015
• Volume• Data type
• Images, language …
• Data integration• User ID• Across org (M&A;
large firms w/ many product lines)
• Permission
• Data as source of competitive advantage
• Single view of the customer
• Customer insight teams• Board level• Long term• Focus on high value
customers
• Privacy and data protection• Aftermath of PPI scandal• Complaints
• Auditable process• Open the floodgate
• One way communication• Employee comments• Customer centric
Ana Canhoto, 2015
ESRC Seminar Series"Financial Services and Consumers:Issues and challenges in a context of change”
Seminar 5: The role of new media and technology
The potential and pitfalls of using social media for segmentation
Dr. Ana Isabel Canhoto
Principal Lecturer in Marketing
Oxford Brookes University
Adomingos-canhoto@brookes.ac.uk
www.anacanhoto.com
@canhoto
Ana Canhoto, 2015