Digitising and personalising the client experience in financial services

This presentation explores how financial service businesses which maintain a strong offline client/customer relationship and the opportunities available to brands if they can deliver a digital experience which matches the service levels delivered offline.

This deck explores the journey into how to build a 1-2-1 digital relationship with clients by building a complete view of your clients’ needs and interests and personalising and tailoring their digital experience based on what we know about them.

This session will be most relevant for:

- Asset management
- Wealth management
- Private banking
- Business/commercial banking

Agenda:
- Designing the digital experience around your clients’ needs
- The value of personalisation in financial services
- Tailoring experiences based on your client’s goals and risk tolerance
- Client personalisation planning
- Extending the client management function beyond face to face
- Leveraging data visualisation tools to track and identify client opportunities
- Putting the individual first: building client profiles to drive client engagement

Transcript

1. www.ratiofs.com DIGITISING AND PERSONALISING THE CLIENT EXPERIENCE IN FINANCIAL SERVICES
2. www.ratiofs.com - Challenges of replicating the offline experience online - Client’s digital expectations - Role of the single client profile - Feeding client intelligence to your relationship managers - Providing personalised content and advice WHAT WE WILL COVER TODAY
3. www.ratiofs.com -Asset management -Wealth management -Private banking -Business/commercial banking WHAT DO THESE TYPE OF BUSINESS HAVE IN COMMON?
4. www.ratiofs.com CLIENT’S WILL HAVE A STRONG OFFLINE RELATIONSHIP MANAGER SERVICING THEIR ACCOUNT
5. www.ratiofs.com Today we will be looking at these two areas
6. www.ratiofs.com BEFORE DIGITAL
7. www.ratiofs.com LET’S LOOK AT WHAT THE OFFLINE EXPERIENCE LOOKS LIKE
8. www.ratiofs.com Source: Deloitte digital Customer experience from the client’s perspective is always more than just……
9. www.ratiofs.com THE RELATIONSHIP TO CLIENT EXPERIENCE
10. www.ratiofs.com THE POSITIVES TIGHTLY PERSONALISED ADVICE TAILORED TO CLIENTS INTERESTS AND OBJECTIVES
11. www.ratiofs.com THE CHALLENGES RELATIONSHIP MANAGERS MAY BE LOOKING AFTER LOTS OF CLIENTS 
 LESS FACE TIME MEANS RELATIONSHIP BUILDING IS RESTRICTED TO VIDEO CONFERENCING 
 RELATION SHIP MANAGERS INFORMATION GATHERING IS RESTRICTED TO WHAT’S BEING COLLECTED DURING MEETINGS/CALLS
12. www.ratiofs.com QUESTION 1: 
 HOW CAN DIGITAL SUPPORT RELATIONSHIP MANAGERS?
13. www.ratiofs.com QUESTION 2: HOW CAN DIGITAL DELIVER A PERSONALISED CLIENT EXPERIENCE?
14. www.ratiofs.com LET’S START WITH THE ONLINE EXPERIENCE NOT MIRRORING THE OFFLINE EXPERIENCE
15. www.ratiofs.com HOW DO WE DIGITISE THE OFFLINE RELATIONSHIP?
16. www.ratiofs.com LET’S START BY BUILDING A SINGLE PROFILE VIEW ON YOUR CLIENT’S
17. www.ratiofs.com A SINGLE CLIENT PROFILE CAPTURES 1. WHAT DO WE KNOW ABOUT CLIENTS 3. HOW ARE THEY INTERACTING WITH US 5. WHAT ARE THEY TELLING IS
18. www.ratiofs.com CLIENT TRAITS WHICH WE CAN TRACK - The client - Their name - The clients’s relationship manager - Track their website visits - Track content read - Campaigns engaged with - Place client into a client profile - Their location - Their company name (if applicable) BUT WHERE DOES THIS DATA COME FROM?
19. www.ratiofs.com EACH SYSTEM HOLDS SOME KEY INFORMATION ON YOUR CLIENTS CMS EMAIL PLATFORM ADVERTISING TOOLS CLIENT PORTAL
20. www.ratiofs.com SINGLE CLIENT PROFILE CLIENT RELATIONSHIP MANAGER Client intelligence Deliver personalised content across 
 the tools the client uses to 
 consume information Company website Client portal
21. www.ratiofs.com WHY A SINGLE PROFILE?
22. www.ratiofs.com TYPICALLY THE SYSTEMS THAT…… 
 DIGITAL AND RELATIONSHIP MANAGERS USE ON A DAY TO DAY BASIS ARE SEPARATE
23. www.ratiofs.com BUT DIFFERENT SYSTEMS ARE NOT SHARING WHAT THEY KNOW ON THEIR CLIENT WITH EACH OTHER
24. www.ratiofs.com WHY DOES THIS MATTER?
25. www.ratiofs.com YOU ONLY KNOW WHAT YOU KNOW
26. www.ratiofs.com A RELATIONSHIP MANAGER HAS NO IDEA WHAT THEIR CLIENTS ARE RESEARCHING, READING AND ARE INTERESTED IN OUTSIDE OF THEIR CONVERSATIONS
27. www.ratiofs.com ONE SINGLE PROFILE FOR BRANDS TO ACCESS EVERYTHING THAT IS KNOWN ABOUT THEIR CLIENT
28. www.ratiofs.com 1. WHAT ARE THEY ACTIVELY RESEARCHING FOR EXAMPLE …….
29. www.ratiofs.com Wouldn’t it be good to know that your client was spending time researching around investment in the art market? Questions to ask yourself as a… Marketer - what content would I send to this client if I knew what they were researching Relationship manager - if I knew instantly what a client was interested in would I arrange a call with the relevant in-house expert?
30. www.ratiofs.com 2. REPORT DETAILING WHEN AND HOW RECENTLY THEY HAVE CONDUCTED RESEARCH
31. www.ratiofs.com 3. REPORTS ON INTEREST AREAS
32. www.ratiofs.com 4. COMBINED WITH OFFLINE CONVERSATIONS
33. www.ratiofs.com A SINGLE VIEW AUGMENTED BY DIGITAL AND OFFLINE DATA TO SET THE FOUNDATION TO SCALE DIGITALLY
34. www.ratiofs.com NOW LET’S REIMAGINE THE PERSONALISED EXPERIENCE BUILT UPON THE SINGLE CUSTOMER PROFILE
35. www.ratiofs.com LET’S BUILD THE DIGITAL EXPERIENCE FROM THE CLIENT’S PERSPECTIVE
36. www.ratiofs.com WHAT DOES A PERSONALISED CLIENT EXPERIENCE LOOK LIKE?
37. www.ratiofs.com EACH CLIENT’S GOALS AND RESEARCH INTERESTS ARE VERY DIFFERENT GOALS AREAS OF RESEARCH I’m saving for retirement I’m saving to buy a home Looking to grow our family’s savings
38. www.ratiofs.com MANAGING CLIENT EXPERIENCES IS ABOUT LEVERAGING THE KNOWLEDGE YOU HOLD ON EACH CLIENT PROFILE SINGLE CLIENT PROFILE CLIENT RELATIONSHIP MANAGER Client intelligence Deliver personalised content across 
 the tools the client uses to 
 consume information
39. www.ratiofs.com PUTTING CLIENT INTELLIGENCE INTO THE HANDS OF THE RELATIONSHIP MANAGER
40. www.ratiofs.com DATA AND CONTENT ARE THE RELATIONSHIP MANAGERS ALLY
41. www.ratiofs.com PROVIDE RELATIONSHIP MANAGERS WITH LIVE DATA ON CUSTOMER CONTENT CONSUMPTION AND LIVE INTERESTS
42. WWW.RATIOFS.COM - Sit down and map where your clients data is held - Write down what types of information you are currently tracking on your customers - Figure out the gap between what you know about clients and what you want to know - Investigate what marketing systems you have and what their capabilities are SUMMARY IF YOU HAVE ANY QUESTIONS - DROP ME AN EMAIL AT MARIO.KYRIACOU@RATIOPARTNERS.CO.UK
43. www.ratiofs.com Learn more at www.ratiofs.com