Customer Service by Social Listening

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Andra Suzanna James
5 years ago
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1 Customer Service by Social Listening

Digital Bank An Overview What does it mean?

Bank Customer Journey We inform Awareness We advise Enquiry We sell Buy/apply We service We sell through service Receive/ Setup (fulfil) Use & maintain We retain I

Tracks Repayment history 7. Uses Money advisor 8. Share experience 9.

Marie Call Center Agent Feedback Survey incl.

6 Big Data / Analytics Best Bank Functions Touch Points Jack`s experience Activities Use Case: Applying for new Loan From unknown to a new brand advocate Potential Customer Jack Needs some urgent cash for personal needs Proactive C B Product Personal Loan Highly Social Medium to Low Social Digital Key P Paid O Owned E Earned Best Bank Customer Journey We inform Awareness We advise Enquiry We sell Buy/apply We service We sell through service Receive/ Setup (fulfil) Use & maintain We retain I want to renew 1. Need 2. Asks in social networks 3. Engage with Brand via Loan app application 4. Submits the loan application 5. Amount Credited to him 6. Tracks Repayment history 7. Uses Money advisor 8. Share experience 9. New Brand Advocate Discover Web Portal, Google, Newspaper P O Discover Own Social networks, Bank s fb page O Apply O Fulfillment O Social App with CIBIL & CRM connect Marie Call Center Agent Feedback Survey incl. opt-in for Newsletter Maintenance O Easy Repayment options Cross Sell Personalized Newsletter on Money advisor O Advocacy Social Networks, Bank portal O Qualified Brand O Advocate Social Campaigns, Bank Portal DIGITAL MARKETING SOCIAL BRAND MANAGEMENT SOCIAL CONTENT USER EXPERIENCE INTEGRATED CORE BANKING SOCIAL COLLABORATION MARKETING ANALYTICS, CRM SALES CRM FEEDBACK MANAGEMENT, GAMIFICATION, SOCIAL ADVOCACY CAMPAIGN MANAGEMENT Unified User Experience Analytics Market analytics Scorecard for campaign effectiveness customer profile Analysis Channel effectivenes s Analysis Feedback score for customer satisfaction CRM Sales analytics Newsletter Effectivene ss Report Influencer Analytics Copyright 2014 Accenture All rights reserved. 6

7 Digital Bank What benefits to expect? $ Cost Optimization Benefits Brand Presence Process Efficiency Cost Optimization Reduced Marketing & Campaign Budgets Digital channels Reusable Digital Content Social Influencers for higher Penetration/reach Agility in campaign management Enhanced Sales channel Reduced cost per lead Higher collaboration Enhanced lead qualification Service Cost Deflection Self help communities Integrated Social channel with CRM Social Customer Care $ Higher Brand Presence Share of Voice Channel based KPIs SLA based Listening Enhanced Sentiment Analytics Key Influencer Analytics Trending topics management Process Efficiency Unified experience through integrated channels Real Time data collaboration leading to reduced TAT Advanced Search Gamification based resource involvement User Specific Social Content Personalized relevant customer experience at scale Efficient Marketing, Campaigns, Sales and Service processes based on Advanced Analytics Copyright 2014 Accenture All rights reserved. 7

likes per second 91% usage of mobile internet is for social 80% prefer to connect with brands on FB 83% unsatisfied SM

9 Why Social is MUST? Social Media is just another channel (internal & external) for communication and sharing but a very PROMINENT one because everyone is using it. About 11 billion Social accounts are exists on just 180 social sites 130 average FB connections 340 M tweets every day 575 likes per second 91% usage of mobile internet is for social 80% prefer to connect with brands on FB 83% unsatisfied SM customers walk away Almost all B2C industries use Social Media for marketing sales / Service : 83% Brands use FB for marketing 85% increased business exposure 63% increased website traffic 52% increase in qualified leads 48% felt reduction in overall marketing spend and YOUR COMPETITION IS SERIOUS ABOUT IT Copyright 2014 Accenture All rights reserved. 9

Social Customer Strategy Who is responsible?

Where to Start? First ask WHY? Customer acquisition? Product development & innovation?

14 Social Cell Needed? Structured Data Unstructured Data Engage Listen / Monitor Act / Engage Mine / Understand Text Analytics Engine Social Cell Measure Extract Insights / Intelligence Insight Sentiment and Volume Analysis of conversations Copyright 2014 Accenture All rights reserved. 14

Social Maturity - Journey Source: Social Media Framework

Listen holistically to your customer conversations to understand emerging needs Listen to what your consumers and fans are talking about you and about the services they expect from banks.

18 Listen holistically to your customer conversations to understand emerging needs Listen to what your consumers and fans are talking about you and about the services they expect from banks. This will lend first hand market insights to the banks, mainly in developing innovative products and service delivery methods. The fundamental principles driving social media engagement should be: Listen to customer conversations On owned brand pages On external social media using appropriate tool(s) Analyze customer conversations Identify initiatives that drive fan growth (e.g: offers and promotions associated with Facebook Like ) Identify content type(s) that drive engagement (e.g: videos especially developed for social media, informational content about impact of economic principles) Identify key themes of conversations (e.g: customer complaints, personal loans) Associated emotions and sentiments Brand advocates and detractors Top avenues of conversations (Indian consumers frequent consumercomplaints.in for bank related issues) Copyright 2014 Accenture All rights reserved. 18

19 Engage with your fans to increase community effectiveness Banks need to be responsive and engage with their fans, to build an active and strong community. This will demonstrate the commitment banks have towards their social media involvement along with developing brand advocates. The fundamental principles driving social media engagement should be: What Banks Should Do Be transparent Still,. What Banks Need to Make Sure They Do Ensure all rules from regulatory bodies and company principles are followed Streamline replies Maintain human face of the brand replies should not look like they are automated Empower your front line Recruit the right people who understand the regulations as well as the impact of improper replies gone viral Be responsive and responsible The front line has access to the other relevant departments and data Copyright 2014 Accenture All rights reserved. 19

Leads Client Twitter Handle CRM Web Services Client EAI Leads Cases 3 Leads 6 Cases Social Monitoring Tool Monitoring Dashboard Reports Text Analytics Tool Accenture Custom Web Tool Services

Custom configuration of Engagement tools to allow agent to engage with social media users/ customers directly and fetch appropriate information 3 4 5 6 7 8 Solution Summary Leads and Service request

20 How do I connect to existing CRM? Sample Architecture Social Channels 8 CRM Modules Accounts Lead Mgmt Content Management Tool(s) Client FB Page 7 Social Sites (Facebook, Twitter, Blogs, Forums etc) Owned Media Customer Case (SR) Leads Client Twitter Handle CRM Web Services Client EAI Leads Cases 3 Leads 6 Cases Social Monitoring Tool Monitoring Dashboard Reports Text Analytics Tool Accenture Custom Web Tool Services Dashboards Database Engagement Agent Console Workflow Mechanism 1. 1 Social monitoring tools listens across social properties 21. Custom configuration of Engagement tools to allow agent to engage with social media users/ customers directly and fetch appropriate information Solution Summary Leads and Service request identified at monitoring tool are pushed to CRM system. Export monitoring tool results. Rehydrate truncated posts (if required) by Accenture Custom built tool Posts uploaded into Text Analytics tool, to perform advanced categorization and sentiment analysis Classify interactions as leads or case and send the same to CRM. (Case will be sent when they have customer identifier). Leads data is used in campaigns via existing process. Use Content Management Tool for publishing content on Owned Media Copyright 2014 Accenture All rights reserved. 20

23 Share of Voice by Company & Products and Services Netbanking Commercials Phone Banking Bank of Baroda Union Bank of India Bank of India Allahabad Bank Cards (Debit/Credit) ATMs and Branches Citi bank ICICI SBI Accounts and Interest Rates Loans EMIs Investments Copyright 2014 Accenture All rights reserved. 24

24 Total conversations : 16,524 Period of Study: Sep 12 Keywords with high (500) frequencies: Emotions 1696 Counterfeits Affordable 1360 Brand Reputation 2018 Fashion Sense Italy Brand Craft Expensive World Fashion Popular Style Classic Young Vintage Look Trendy Simple Luxury Love Designer Online Want Like ` Outlet Cheap Fake Replica Purse Tote Wallet Shoulder Clutch 4507 Versace Louis Lauren Prada Coach Fendi Chanel Burberry Mulberry Hobo Competitor 2249 Distribution Channel Wholesale Gucci Outlet Store Messenger 3121 Bag Types Nestle Business Services / DSU / Digital Marketing Team (Copyright) 25