Live vermarkting AnAnVerma elen

Transcription

1 Live vermarkting AnAnVerma elen Loyalty Expert approach Advies en of Relatiebeheer Affluent Clients Particulieren An Vermaelen Loyalty strategie en aanpak vermogende klanten An Vermaelen

2 2 Contents Page Agenda 1. Market outline & Affluent Clients 2. Loyalty vision & general view on loyalty approach of Affluent Clients 3. Focus on VIPping 4. Influence of evolving market on loyalty approach in near future 5. Questions

3 1. Market outline & Our Affluent Clients

4 Our market position Global market position: KBC is an integrated bank-insurance group, catering mainly for retail, private banking, SME and mid-cap clients. Geographically, we focus on our core markets of Belgium, the Czech Republic, Slovakia, Hungary, Bulgaria and Ireland. We have a limited presence elsewhere, primarily to support corporate clients from our core markets. Market position in Belgium: 716 bank branches, 427 insurance agencies, electronic channels 21% share of the market for traditional bank products, 33% for investment funds, 13% for life insurance and 9% for non-life insurance 3.5 million clients 96-billion-euro loan portfolio and 125 billion euros in deposits and debt securities Ca staff (fte)

5 Our affluent clients: Premium Banking and Mass Affluent Investors Private Private Banking: euro AUM Business Premium Banking Premium Banking: euro AUM Dedicated Relationship Manager Mass Retail Mass Retail: Expert Investment Advice for Mass Affluent Investors

6 6 2. Loyalty vision & General view on loyalty approach of affluent clients

7 On our search for inspiration it became very fast very clear what we didn t want to do 7

8 8 Creating extra value, on top of the financial services, through customer loyalty working on retention Strategy KBC Client centricity Close Our definiton of loyalty Loyalty is the propensity that a client will keep buying a product or service by KBC Goal of our loyalty approach is to increase the customer fidelity of our affluent clients to our company (retention) By loyalty, we mean the layer above the (paying) financial services/propositions. Loyalty is therefore a lever for the financial services/propositions. Loyalty services are by default nonfinancial services Strategic challenges affluent clients Loyalty leads to extra value in the propositions to our affluent clients Loyalty is an aspect within our redefinition of expert advice and relationship management We pay attention to the digital possibilities

9 9 Since the loyalty lever is the biggest with Promotors and Loyals, they are the target groups of our loyalty approach towards affluent clients Loyalty attitude Promotors: customers who are very satisfied with KBC and actively give positive word of mouth. Acting when new financial need? KBC is top of mind. Most loyal type of clients. Loyalty lever on this target group? Loyals: group of customers who are satisfied with KBC but are also indifferent about KBC. Always consider KBC, but now and then take our competitors into account as well. Loyalty initiatives have a positive impact. Hostages: are loyal but not because they are satisfied. They stay because of negative drivers as switching costs Often take competitors into consideration. We have to focus on solving the negative drivers, loyalty isn t the solution. Abandoner: clients who are leaving KBC. KBC is excluded. Focus on solving the motivation of leaving KBC.

10 10 Three levels of loyalty Emotional loyalty first, financial loyalty as extra leverage for specific target groups Pro & contra 3 Emotional loyalty Service, trust, delight, recognition, experience Earned by excellent Customer Experience. Very enduring. Competitor have no influence on this. To intensify trust. Earned on the long term. 2 Financial loyalty Temporary or permanent discount for a target group, cash-back, loyalty program, Retention bought by discount. Leverage for cross-sell. Expensive strategy, difficult to stop. Clients become loyal to the discount, not to the company. 1 Behavioral loyalty Barriers, convenience, location, sleeping dogs, Barrières prevent clients to go to the competion. Cheap Not client centric

11 3. Focus on VIPping An example of our loyalty approach since 2014

12 VIP approach of our loyals amongst our affluent clients For who Affluent clients who have a Wealth Management Service contract (Plus or Select) The KBC Wealth Management Services are subject to contract and a charge is made for them = loyal type of clients Main goals: High customer satisfaction Strengthening the personal relation, intensifying trust and recognition of the importance of our clients Adding extra value to the propositions

13 MAILING: luxurious brochure with unique gift codes

14 MAILING: with a broad choice in 6 different categories

15 Client friendly cost-effective and easy-to-manage loyalty platform

16 SELECTION: Login personalised reward site

17 SELECTION: Incentive overview within theme SELECTION Incentive overview within theme

18 SELECTION: Incentive availability overview

19 SELECTION: Incentive reservation detail SELECTION Incentive reservation detail

20 SELECTION: Incentive reservation overview SELECTION Incentive reservation overview

21 SELECTION: Incentive reservation confirmation

22 REWARDING: confirmation REWARDING confirmation

23 REWARDING: digital voucher REWARDING Digital voucher

24 RESULTS year Response rate 77% 81% 84% 80% Restaurants Faxions 36,5% 34,9% 32,4% REWARDING Digital voucher Others Faxions n.v.t. 7,5% 4,8% Wines 30% 28,6% 26% Gifts Magnus 10% 12,6% 24,1% Zoo & amusement parks 16% 12,6% 10% wellness n.v.t. 1,9% 1,5% Books 2,5% 2,3% 2%

25 4. Influence of evolving market on our loyalty approach in the near future

26 We are getting ready for the MIFID storm, the new investors regulations that will shift the landscape 26

27 27 Evolving from different loyalty initiatives towards 1 consistent loyalty approach starting from a loyalty vision, translated into a loyalty strategy for every target group 1 Young, started 2 Discretionary 3 Advisory 4 investor investor investor Relationship Management Loyalty strategy Financial loyalty Emotional loyalty Emotional loyalty Supported by financial loyalty Emotional loyalty Motivation Stimulation to grow to mature investor Low pro-active contact with KBC, extra topuchpoint with KBC Has a lot of trust in KBC Adding extra value to the proposition To confirm the client in his choice High customer satisfaction Recognition of the importance of our clients Adding extra value to the proposition Tool for relationship manager to strengthen the ties with the client Extra touchpoint Priceless VIP experience

28 5. Questions?