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