How To Deliver High Performance Capital Markets … · How To Deliver High Performance Capital...

PowerObjects, an HCL Company Financial Services PracticeHigh Performance Personalized, Predictive, Proactive Customer Experiences

How To Deliver High Performance Capital Markets

Customer Experiences Through Segmentation

Personas Segmentation Accuracy

Agenda

Data & Customer Experience

Kate Leggett, VP & Principle

Forrester

Capital Markets Industry CRM Transformation

Greg Moser, Sr. Director Financial Services

PowerObjects, an HCL Technologies Company

Segmentation Best Practices

Bob Herrmann, CEO

Discovery Data

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PowerObjects, an HCL Company Todays Presenters

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04

PowerObjects, an HCL Company Our Financial Services Practices

PowerObjects is a professional services firm 100% focused on providing Microsoft Dynamics service, support,

education and add-ons for Microsoft Dynamics 365 and surrounding workloads.

Microsoft Deployment Services PowerObjects tailors services for different

customers, from the small businesses and

do-it-yourself crowd to enterprise-level, large-

scale implementations. Programs include

PowerSuccess, XRM, customized portals,

integration with other systems and much

more.

Microsoft Global Support We are passionate about offering awesome,

responsive CRM support to Microsoft

Dynamics 365 users. Customers can choose

from standard on-demand support or

premium services like PowerSupport. Real-

time support information is available through

our communications portal, PowerCare.

Microsoft Education & TrainingPowerObjects promotes CRM education &

training to empower users to get the most out

of Dynamics 365, offering training on

everything from user basics to advanced

topics. We constantly add to our CRM How-to

Portal, and offer a smorgasbord of trainings

and resources including CRM Boot Camp,

The CRM Book, custom trainings and more.

Microsoft Add-ons & Accelerators We are always improving and adding to our

suite of CRM add-ons and accelerators for

Dynamics 365, dubbed the PowerPack suite.

These include tools for sales, marketing,

productivity, and more. We’ve also developed

Power8CRM— a Dynamics 365 companion

app for Windows 8 tablets.

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PowerObjects, an HCL Company Largest Microsoft Dynamics Global Integrator

PowerObjects, an HCL Company has been recognized by

Microsoft as the 2017 Microsoft Worldwide Partner of the Year

Award for Consulting & System Integration partner worldwide.

With over 1,000 Microsoft Consultants Worldwide, PowerObjects

has the scale and quality to deliver!

1,100 Active Global

Microsoft Dynamics Customers

350,000 + PowerObjects

PowerPack Users Worldwide

2017 Microsoft

Worldwide Partner of

the Year Award for

Dynamics 365

Consulting & Systems

Integration

2016 Microsoft Worldwide Partner of

the Year Award for Modern Marketer


the Year Award for Cloud CRM


the Year Award Finalist


the Year Award for Cloud Transformation


the Year Award for Dynamics


the Year Award for Dynamics

2009-2016 Microsoft Worldwide

Presidents Club Member for Dynamics

2011, 2013 - 2016 Microsoft Worldwide

Inner Circle Member for Dynamics

Saty

a N

ad

ella

CEO

Mic

roso

ft

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Consulting Firm – Mercer Example

Capital Markets =Complex Hierarchies and Associations

Lincoln National

Group

Lincoln Financial

Group

Lincoln National

Distributors

Lincoln Financial

Advisors

Regional Planning

Offices

Broker Dealer

Relations

Lincoln National

Security Corp

Lincoln National Life

Insurance

Product

Rollup

CRM Enterprise Baseline

Core Common Architecture

International

Mercer Benefit

NomineesMercer Consulting

Group, LLC

Mercer JapanMercer

SingaporeMercer UK

Mercer

Australia

Marsh & McLennan

Americas

Financial Institution – Citigroup Example

International

Retail Banking Commercial Banking

Citi Japan Citi Singapore Citi UK Citi Australia

Citigroup

North America

Institutional Firm - PepsiCo

International

Frito Lay Pepsi

Citi Japan Citi Australia Citi UK Citi Singapore

PepsiCo

North America

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PowerObjects, an HCL CompanyFinancial Services Practices

US Channel Population 2014: 308,937Broker-Dealer, RIA, Wirehouse Channels

US Investor Population 2016:323.95MAging Population – Millennials

Mindshare

Retention

Sources: US Census Bureau

Goldman Sachs, Cerulli Associates, Voya Financial

Noise: Broker-Dealer, RIA,

Wirehouse, Investor

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PowerObjects, an HCL CompanyCapital Markets Voice of the Customer

Registered

Investment Advisor

(RIA)

Broker Dealer &

Certified Financial

Planner

Registered

Investment Advisor

(RIA)

InstitutionRetail &

Household

Global Consultant Financial Firm

Firms & Accounts Types

Sales & Wholesaling Marketing, Training &

Education

Scheduling

Coordinators

Operations & Back

Office Support

Client Onboarding Client Services

Business Unit Types

Mutual Funds &

Exchange Traded

Funds

IRAs: Roth &

Traditional

Securities &

Commodities Trading

Fix Fee &

Commission

Fee Advisory

Services

CDs & Bonds Alternative

Investment Products

Product Types

Financial Planner Retail Investor

Institutional Client Wealth Manager

Asset Manager

Channel Types

Voice of the….

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Voice of the CustomerDifferentiated & Innovative Segmentation

Connected Data: Dynamics 365 LinkedIn PowerObjects Discovery Data

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010

PowerObjects, an HCL CompanyCapital Markets Voice of the Customer

Registered

Investment Advisor

(RIA)

Broker Dealer &

Certified Financial

Planner

Registered

Investment Advisor

(RIA)

InstitutionRetail &

Household

Global Consultant Financial Firm

Firms & Accounts Types

Sales & Wholesaling Marketing, Training &

Education

Scheduling

Coordinators

Operations & Back

Office Support

Client Onboarding Client Services

Business Unit Types

Mutual Funds &

Exchange Traded

Funds

IRAs: Roth &

Traditional

Securities &

Commodities Trading

Fix Fee &

Commission

Fee Advisory

Services

CDs & Bonds Alternative

Investment Products

Product Types

Financial Planner Retail Investor

Institutional Client Wealth Manager

Asset Manager

Channel Types

Voice of the….

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011

PowerObjects, an HCL CompanyCapital Markets Customer 360 Asset & Accelerator

Capital Markets Closed Loop

Customer Journey



Kate Leggett

Forrester

VP and Principle Analyst

Email: [email protected]

Twitter: @ kateleggett

mailto:[email protected]

13© 2017 FORRESTER. REPRODUCTION PROHIBITED.

Source: Forrester Research “Winning In The Age Of The Customer” report.

Empowered customers have given rise to a new era

http://www.forrester.com/go?docid=119546


May 2014 “Brief: Systems Of Engagement Take Center Stage”

Customers expect differentiated experiences over their entire journey


Good customer experiences are good for business

Retention

loyalty

Enrichment

loyalty

Advocacy

loyalty

The likelihood that a

customer will keep

existing business

with the company


customer will buy

additional products

and services from

the company

The likelihood that

a customer will

recommend the

company to

others


There is a linear relationship between CX and customer loyalty

Base: 6,499 US online adults (18+) who have interacted with a retail bank in the past 12 months

Source: Forrester’s Customer Experience Index Online Survey, US Consumers Q1 2015


There is a linear relationship between CX and revenue potential

Note: The number of financial products includes the following financial products: checking account; savings account; credit card; money market

account; mortgage; home equity loan/line of credit; personal loan/line of credit; and auto loan.




There is a relationship between CX and advocacy




The revenue

impact of good

customer

experiences can

be quantified


Many financial institutions aren’t ready to meet clients new expectations:

Serve me, when I want,

where I want, with

perfect knowledge of

who I am.

Personal

Proactive

Productive


Financial services miss out on eliciting positive emotions

Only 31% feel appreciated

Only 29% felt valued

Only 27% felt respected

Base: 6,499 US online adults (18+) who have interacted with financial services in the past 12 months



Companies use CRM

as a foundation of

customer engagement

$32B

$24B

2015 2017

63%

What does this have to do with CRM?


360 degree view of the customer critically important

Customer

CashLending

Derivatives Trade

Relationship Manager

Americas

Customer

CashLending

Derivatives Trade

Relationship Manager

EMEA


Financial services struggle with

product and regional technology silos


Data issues plague crm success

See the “Benchmark Against Best Practices To Optimize CRM Performance” Forrester report

Creating a single view of the customer ………………….. 47%

Creating customer insight to drive decision

making……………………………………………………..... 41%

Managing data quality………………………….... 35%

Coordinating across different CRM platforms … 21%

https://www.forrester.com/report/Benchmark+Against+Best+Practices+To+Optimize+CRM+Performance/-/E-RES90063


Data quality ultimately impact customer experience


CRM Is For Business Process

Data Quality Solutions Are For Data Process

Enrich CRM with data for personal interactions


Understand the quality of leads

Pinpoint the right prospects

Recommend the right collateral

Streamline the sales process

Allow sales to collaborate

Recommend the right conversation

Identify the target market

Pinpoint discounting thresholds

Identify best products

Identify the right hire

Identify the right next step

Understand customer segments

Connect sales to the right contact

Streamline onboarding

Empower advisors


Good Customer experiences are good for business

Retention

loyalty

Enrichment

loyalty

Advocacy

loyalty


customer will keep

existing business

with the company


customer will buy

additional products

and services from

the company

The likelihood that

a customer will

recommend the

company to

others

FORRESTER.COM

Thank you© 2017 FORRESTER. REPRODUCTION PROHIBITED.



Bob Herrmann

Discovery Data

CEO



▪ Leading provider of firm and rep data and data services

▪ 800+ institutional clients including nearly every one of the

industry’s 400 largest

▪ Have helped the industry with segmentation for our entire 15 year

history

▪ Have completed nearly every sizable CRM data hygiene project for

the industry

About Discovery Data

1. Start with clean data

2. Automate the processing of ongoing changes

3. Employ unique IDs for firms, branches, teams, people

4. Formalize defining your target market and channel

segmentation at the highest level



Of last 10 million client CRM contact records we cleaned:

No longer in industry: 17%

Now at different firm: 18%

Different phone: 25%*

Different email: 15%

Didn’t have email: 27%

Duplicate record: 9%

*Discounted for estimated cases client has better phone than Discovery Data

▪ Start with clean data


▪ Start with clean data

▪ According to the stats on the prior slide, a firm spending $5 million

of marketing and sales staff time conducting outreach throws away

~20% or $1 million…

▪ …while spending millions on business intelligence initiatives, such

as predictive analytics, lead scoring, and collecting supplemental

profile and behavioral data.


▪ Automate the processing of ongoing changes

▪ Over 200,000 registered rep records have a change in one or more

material profile points annually.

▪ Once you have dealt with the issue of inaccurate and incomplete

data, if you attempt to then keep up with change manually, you will

quickly be back in the same mess.


▪ Employ unique IDs for firms, branches, teams, people

▪ This is the same person*:

Mary Jones

Mary Smith

▪ Who never changed locations in 8 years but 11 variations of the

address were provided in regulatory filings, including for example:

123 North Main Street, Buffalo, NY 14225

123 N. Main St., Buffalo, NY 14225

123 N. Main Street, Suite 205, Buffalo, NY 14225

123 N. Main Street, Floor 2, Buffalo, NY 14225

▪ Who never changed firms in 10 years but her firm changed its name:

NFP Securities Inc. to Kestra Investment Services LLC

*Mary Smith (nee Jones)


▪ Employ unique IDs for firms, branches, teams, people

▪ The only way to automate ongoing record updates and at the same

time minimize the change is by using unique identifiers that do not

change.

▪ Through all the change on the prior slide example it was…

Rep 12345

Branch F42046A98765

Firm 42046

▪ Therefore, within your CRM the Firm Account, Branch Account and

Contact would have never changed. Some data within them will

change but there will be no changing to new records and no

duplicates.


▪ Formalize defining your target market and channel


▪ Two firms with precisely the same target market populated their

CRMs with…

Firm A: 725,000 Contacts

Firm B: 32,000 Contacts

▪ Both outcomes were severely off the mark

▪ In both cases filtering decisions were left to the data team


▪ Formalize defining your target market and channel


▪ Two firms with precisely the same target market populated their

CRMs with…

Firm A: 725,000 Contacts

Firm B: 32,000 Contacts

▪ Both outcomes were severely off the mark

▪ In both cases filtering decisions were left to the data team

1. Start with clean data

2. Automate the processing of ongoing changes

3. Employ unique IDs for firms, branches, teams, people

4. Formalize defining your target market and channel


Only then can you confidently go on to advanced segmenting

by success level, product focus, likelihood to purchase, etc.


Thank You!Greg Moser

Sr. Director, Financial Services Practice

Phone: 281.725.1789



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How To Deliver High Performance Capital Markets … · How To Deliver High Performance Capital...

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