THE DIGITAL MEDIA BANK

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1 TELSTRA TEMPLATE 4X3 BLUE BETA TELPPTV4 THE DIGITAL MEDIA BANK HOW VIDEO BETTER ENGAGES YOUR CUSTOMERS AND WORKERS ROCKY SCOPELLITI GROUP GENERAL MANAGER 1

2 CONNECTED FINANCIAL INSTITUTION RESEARCH GENERATION Y MICRO BUSINESS MOBILE INNOVATION CIO CHALLENGES DIGITAL MEDIA BANK THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

3 RESEARCH APPROACH DEVELOPMENTS RESEARCH QUESTIONS Experiential Trust Productivity Technology Penetration Lifestyle Why do people prefer to learn and interact visually? Who are the global pioneers in video based financial services, and what have their results been? How are Asia Pacific financial institutions using and planning for digital video services? Do Australian consumers find video enabled banking services appealing and how likely are they to adopt? What business impact would they result in - including impact on satisfaction, loyalty, advocacy, switching and consideration? How can digital media and communications technology better engage customers and workforces? THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

4 COMMUNICATION IS ALSO A MULTI-SENSORY EXPERIENCE Eating is a multi-sensory experience Of course I want to create food that is delicious, but this depends on so much more than what's going on the mouth context, history, nostalgia, emotion, memory and the interplay of sight, smell and taste all play a part on our appreciation and enjoyment of food Heston Blumental THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

5 Synchronous Asynchronous COMMUNICATION CHANNEL PROPERTIES Like social platforms, video transcends communication types with equally complex properties Documentation In the event that all else fails read the manual FAX Web Mobile Web SMS/MMS Broadcast & Interactive Video and Social Platforms Visualisation A picture is worth a thousand words Mail Demonstration There is no locating the on/off button: it s here shown visually IVR Click-to-X Mobile Apps & Clients Chat Voice and Collaboration Through Call Centre Face 2 Face Omni Channel Customers control time, place, channel and form Transactional Conversational THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

6 EXAMPLE PIONEERS IN VIDEO BASED SERVICES Financial institutions are already benefiting from video through better staff engagement and growth through customer experience THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

7 ASIA PACIFIC FINANCIAL SERVICES VIDEO INSIGHTS Like financial institutions the world over, Asia Pacific institutions are already benefiting from video through better staff engagement and growth through customer experience 22 Financial Institutions studied 8 Insurers & Wealth Managers studied Capacity Constraints Branches, Kiosks, Digital Display, Workforce Virtualisation Resource Planning, Scheduling Systems Capability gap in lifecycle management of digital media THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

8 CONSUMER VIDEO STUDY INSIGHTS APPEAL With half of online Australians already engaged with video online and a third using video calling, SWITCHING CONSIDERATION FIVE Concepts Tested ADOPTION SATISFACTION how can financial institutions use video to better engage customers? ADVOCACY THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

9 CONCEPTS RESEARCHED Accessing Experts ON DEMAND Videos on FINANCIAL TOPICS PRODUCT videos INTERACTIVE Videos Local Branch VIDEO CALLING THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

10 CONSUMER INSIGHTS OVERALL THE CONCEPT SCORES ARE VERY HIGH ENGAGEMENT MAXIMISING APPEAL PROPENSITY TO USE All concepts improved perceptions of engagement for one in six consumers Three concepts optimises appeal to two thirds of consumers Over a quarter of consumers indicated a propensity to use each service SATISFACTION ADVOCACY CONSIDERATION Satisfaction is likely to be improved for up to a quarter of consumers Advocacy likely to be improved for up to a fifth of consumers Up to one in five consumers likely to consider a opening account with other bank THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

11 DIGITAL VIDEO BEHAVIOUR Half Australians watch online videos 34% use video calling SOCIAL MEDIA PAYS Those watching YouTube Instructional Videos Weekly? 62% BUSINESS VIDEO conferencing traffic growing the fastest 28% CAGR Mobile devices most frequently used for video calling weekly Daily from Tablets 22% Mobile video traffic growth >90% CAGR More than any other app category Video Banking FINANCIAL PLANNERS want enterprise apps on mobile devices 33% Mass 29% 40% Affluent 57% In 2010, 51% of consumer internet traffic was video by 2015, video traffic will be Youth White Collar Workers 81% 84% Australians use Skype to make video calls 16% improved perceptions of engagement with video banking concepts THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER 2012

12 STRATEGIC TECHNOLOGICAL DEVELOPMENT THE DIGITAL MEDIA BANK - ANYWHERE, ANYTIME, ANYFORM, ANY DEVICE The Connected Home The Mobile Consumer & Mobile Worker The Digital Media Enterprise The Application Assured Enterprise Expert Anywhere My Banker On Demand Contribution Content ingestion from local or real-time production/event Production Content enrichment and enhancement ready for compilation Management Scheduling, play-out & management of content including: library & archiving Distribution Managed delivery of content to end users, end devices in many locations My Trusted Advisor THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

13 DIGITAL MEDIA CUSTOMER EXPERIENCE THEMES Expert Anywhere My Banker on Demand My Trusted Advisor THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

14 MY EXPERT/BANKER ON DEMAND CUSTOMERS CAN CONTACT A KNOWN STAFF MEMBER USING THEIR DEVICE OF CHOICE, IN THEIR ENVIRONMENT OF CHOICE (FROM HOME, WORK, OR ON THE ROAD), AT THEIR MOMENT OF CHOICE Customers in a branch, at home, or on the road CAN ACCESS EXPERTS, ADVISERS OR SPECIALISTS ANYWHERE WITHIN THE ENTERPRISE THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

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16 MY TRUSTED ADVISOR Customers can explore what a financial institution can offer in highly creative and exciting ways. Advanced digital interactivity adds value and augments the experience, whether comparing products or simply browsing for information. THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

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18 SUMMARY INDUSTRY DEVELOPMENTS Customer Experience Workforce Productivity Deepening Customer Contact Share of Wallet Lifestyle STRATEGIC TECHNOLOGICAL DEVELOPMENTS The Connected Home The Mobile Consumer & Worker The Digital Media Enterprise The Application Assured Enterprise FINANCIAL SERVICES VIDEO PIONEERING Widespread use globally, already benefiting Main drivers are staff and customer engagement Asia Pacific Institutions planning deployments Focus on resource scheduling for mobile workers Gap in comprehensive media lifecycle management DIGITAL MEDIA EXPERIENCE THEMES Integrated Omni-channel (UC&C & IP Contact Centre) Content Management & Distribution Platforms Expert Anywhere My Banker on Demand Mt Trusted Advisor THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER

19 THANK YOU DOWNLOAD REPORT THE DIGITAL MEDIA BANK ROCKY SCOPELLITI NOVEMBER