Service Strategy (Real-time Inbound Marketing) - Digital Marketing…
Service Strategy (Real-time Inbound Marketing) -
Evolution of IT system
3 Separate Eras
1) Data Processing Era
Transactions made over the bank counter during normal office hours.
Transaction was the only record of an interaction with a customer.
Any potential marketing opportunities associated with customer transactions could only be assessed on the next day.
2) Client–Server Era
Enabled a bank’s IT infrastructure to scale more cost effectively than the Data Processing er
Enabled more bank users and customers to access their systems.
With the arrival of internet banking and other self-service channels, customers became more sophisticated, demanded better products and faster service. Thus, speed of doing banking increased.
3) Predictive Era
The speed of doing banking demands that many pieces of data from multiple sources be captured and correlated in real-time
Thus, bank can predict the next change and gain competitive advantage by acting first.
When customer’s banking actions correlate with life-stages, opportunities arises to cross-sell specific products targeting specific customers’ need in real-time at the point of interaction with the bank.
Decisions made in real-time enable banks to intelligently pitch the right products to the right customers though the right channels.
The real-time execution of a perfectly customized and personalized Next Best Offer (NBO) is the ultimate tool of inbound marketing.
Today's Digital Banking Era
Provides information, an improved customer experience and builds trust by offering potential customers information via social media platforms.
Technique for drawing customers to products and services
social media marketing
search engine optimization
Customer’s profile and current situation determine the best suited offer for him at that time
The offer is delivered in real-time via his preferred delivery channel.