Personalised client experiences in private banking and wealth management

In these slides I cover:

The challenges of replicating the offline experience online
The client’s digital expectations
The role of the customer profile
Feeding client intelligence to your relationship managers
Providing personalised content and advice

Transcript

1. PERSONALISED CLIENT EXPERIENCES IN PRIVATE BANKING AND WEALTH MANAGEMENT
2. - Challenges of replicating the offline experience online - Client’s digital expectations - Role of the customer profile - Feeding client intelligence to your relationship managers - Providing personalised content and advice WHAT WE WILL COVER
3. - Today we will be looking at these two areas
4. 71% OF CLIENTS PREFER MULTICHANNEL INTERACTIONS SOURCE: MCKINSEY AND COMPANY
5. LET’S LOOK AT WHAT THE OFFLINE EXPERIENCE LOOKS LIKE
6. THE RELATIONSHIP TO CLIENT EXPERIENCE
7. THE POSITIVES TIGHTLY PERSONALISED ADVICE TAILORED TO THE CLIENTS INTERESTS AND OBJECTIVES
8. 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
9. QUESTION 1: HOW CAN DIGITAL SUPPORT RELATIONSHIP MANAGERS?
10. QUESTION 2: HOW CAN DIGITAL DELIVER A MORE PERSONALISED CLIENT EXPERIENCE?
11. LET’S START WITH THE ONLINE EXPERIENCE NOT MIRRORING THE OFFLINE EXPERIENCE
12. HOW DO WE DIGITISE THE OFFLINE RELATIONSHIP?
13. LET’S START BY BUILDING A SINGLE PROFILE ON YOUR CLIENTS
14. 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
15. 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?
16. EACH SYSTEM HOLDS SOME KEY INFORMATION ON YOUR CLIENTS CMS EMAIL PLATFORM ADVERTISING TOOLS CLIENT PORTAL
17. SINGLE CLIENT PROFILE CLIENT RELATIONSHIP MANAGER Client intelligence Deliver personalised content across the tools the client uses to consume information Company website Client portal
18. WHY A SINGLE PROFILE?
19. TYPICALLY THE SYSTEMS THAT…… DIGITAL AND RELATIONSHIP MANAGERS USE ON A DAY TO DAY BASIS ARE SEPARATE
20. BUT DIFFERENT SYSTEMS ARE NOT SHARING WHAT THEY KNOW ON THEIR CLIENT WITH EACH OTHER
21. WHY DOES THIS MATTER?
22. YOU ONLY KNOW WHAT YOU KNOW
23. A RELATIONSHIP MANAGER HAS NO IDEA WHAT THEIR CLIENTS ARE RESEARCHING, READING AND ARE INTERESTED IN OUTSIDE OF THEIR CONVERSATIONS
24. ONE SINGLE PROFILE FOR RELATIONSHIP MANAGERS TO ACCESS EVERYTHING THAT IS KNOWN ABOUT THEIR CLIENT
25. 1. WHAT ARE THEY ACTIVELY RESEARCHING FOR EXAMPLE …….
26. - - 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?
27. 2. REPORT DETAILING WHEN AND HOW RECENTLY THEY HAVE CONDUCTED RESEARCH
28. 3. REPORTS ON INTEREST AREAS
29. 4. COMBINED WITH OFFLINE CONVERSATIONS
30. A SINGLE VIEW AUGMENTED BY DIGITAL AND OFFLINE TO SET THE FOUNDATION TO SCALE DIGITALLY
31. THE RELATIONSHIP MANAGER IS INTEGRAL TO SCALING DIGITAL BUT THE THEY NEED TO BE AUGMENTED WITH THE INTELLIGENCE TO DRIVE RELEVANT CONVERSATIONS
32. NOW LET’S REIMAGINE THE PERSONALISED EXPERIENCE AROUND THIS SINGLE CUSTOMER PROFILE
33. LET’S BUILD THE CLIENT EXPERIENCE FROM THE CLIENTS PERSPECTIVE
34. WHAT DOES A PERSONALISED CLIENT EXPERIENCE LOOK LIKE?
35. EACH CLIENT’S INVESTMENT 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 families savings
36. MANAGING CLIENT EXPERIENCES IS ABOUT LEVERAGING THE KNOWLEDGE YOU HOLD ON EACH CUSTOMER PROFILE SINGLE CLIENT PROFILE CLIENT RELATIONSHIP Client Deliver personalised content across
37. PUTTING CLIENT INTELLIGENCE INTO THE HANDS OF THE RELATION SHIP MANAGER
38. DATA AND CONTENT ARE THE RELATIONSHIP MANAGERS ALLY
39. PROVIDE RELATIONSHIP MANAGERS WITH LIVE DATA ON CUSTOMER CONTENT CONSUMPTION AND LIVE INTERESTS
40. -What content/ research their clients are interested in -How their products match the content being consumed -When they are consuming -Where they are consuming -Automate suggested meetings with clients HELP RELATIONSHIP MANAGERS WITH
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