Connected CRM An interactive discussion with the Insurance & Wealth Management team

Agenda

• Introductions

• Session Format

• Connected CRM Framework – Table Discussions

– Customer Strategy – Experience Delivery – Financial Management – Organization – Infrastructure

• Wrap up

2

Introductions Meet your Merkle Insurance & Wealth Management Leadership Team

Introductions

Merkle Team

– Aaron Tellier – VP, Consulting Wealth Management – David Magrini – VP, Consulting Healthcare – Dan Bernard – VP, Consulting Insurance

– Ed Forman – SVP, Analytics – Yanni Kotziagkiaouridis – VP, Analytics – Shiv Gupta – Senior Director, Analytics

– Shambho Krishnasamy – VP, Chief Solution Architect

– Ozgar Dogan – SVP, Data Solutions

– Matt Naeger – EVP, Digital Solutions

– Marc Ruggiano – SVP, Merkle Consulting Group – Leah Van Zelm – Principal Consultant, Merkle Consulting Group

– Jay Crowson – VP, Business Development – John Dambach – VP, Business Development

4

Introductions

Guests

5

Connected CRM Framework Applying the framework to real business issues facing the Insurance and Wealth Management industries

7

The foundation of Connected CRM is a clearly rationalized strategic framework that is widely adopted at all levels of the organization and forms an ongoing process

Enterprise segmentation, which includes value and lifecycle dimensions, forms the foundation of CCF

What data, systems, tools

and technologies

will be necessary?

How do we organize and

what capabilities and

business processes will be

necessary?

Organization In

frast

ruct

ure Experience Delivery

Financial Management

Customer Strategy

Financial management informs customer strategy and experience delivery decisions as a closed loop process

These strategies are then translated into actionable media and channel plans that result in highly personalized, targeted experiences

Portfolio Strategy

Segment Strategy Program Strategy

Experience delivery performance is continuously attributed across media and channels which, in turn, drives optimized budget allocation

Media Planning Channel Planning

Targeting & Personalization

Measurement & Attribution

Budget Allocation

Connected CRM Framework

Connected CRM Framework – Customer Strategy

Scenario:

A P&C insurance marketer currently employs a segmentation based on current policy

value. They believe that there is significant value to be derived by understanding the

needs and attitudes of their customers at a more granular level. They would like to

formulate a detailed and actionable plan that allows them to optimize the customer

experience and business results based on these new insights.

8

Customer Strategy

These strategies are then translated into actionable media and channel plans that result in highly personalized, targeted experiences

Portfolio Strategy

Segment Strategy Program Strategy

Customer Strategy

These strategies are then translated into actionable media and channel plans that result in highly personalized, targeted experiences

Portfolio Strategy

Segment Strategy Program Strategy

Discussion Questions:

– How does your organization create and use:

• Segmentation • Value/Lifetime value analysis • Incremental measurement

– What are the barriers to creating these strategies? – What value are you deriving from the use of these strategies? – What are the challenges of not having those strategies in place? – Are you tracking campaign response and attributing results back to

your segments?

9

Connected CRM Framework – Customer Strategy

10

Experience Delivery

Experience delivery performance is continuously attributed across media and channels which, in turn, drives optimized budget allocation

Media Planning Channel Planning

Targeting & Personalization

Scenario:

A wealth management company engages their clients through traditional channels

such as e-mail, direct mail, the contact center and their web site. Leveraging these

communication channels they have started to create multi-touch, multi-channel client

experiences for certain “moments of truth.” However, they are seeing other industries

and recently some of their direct competitors start to employ new client experiences in

the digital and social media.

Connected CRM Framework – Experience Delivery

Discussion Questions:

– How does your organization define the ideal customer experience? – To what extent is your customer experience:

• Documented • Standardized • Measured

– In what channels do you feel your organization’s experience delivery is strongest? – In what experience delivery channels do you feel your organization is most in need

of improvement? – How do you quantify the value of expanding or improving your customer

experience?

11

Connected CRM Framework – Experience Delivery Experience Delivery

Experience delivery performance is continuously attributed across media and channels which, in turn, drives optimized budget allocation

Media Planning Channel Planning

Targeting & Personalization

12

Financial Management

Financial management informs customer strategy and experience delivery decisions as a closed loop process

Measurement & Attribution

Budget Allocation

Scenario:

A healthcare payer has a broad based marketing program across multiple media and

channels. Budget constraints are forcing them to look for efficiencies in their spend.

While they have many reports that give them details about individual campaigns by

media and channel, the CMO lacks a clear view of how each component of their total

marketing spend influences their ability to meet their overall acquisition goals.

Connected CRM Framework – Financial Management

Discussion Questions:

– How does your organization measure the results of your marketing activities? • Acquisition • Customer growth • Retention

– Do you have a holistic view of the customer event stream? – What components of the marketing spend are the most difficult to measure? – How are you attributing marketing success?

• Last touch • Business rules • Modeled attribution

– To what extent do your measurements actually inform marketing spend by segment and by media channel?

13

Connected CRM Framework – Financial Management Financial Management

Financial management informs customer strategy and experience delivery decisions as a closed loop process

Measurement & Attribution

Budget Allocation

14

How do we organize and

what capabilities and

business processes will be

necessary?

Organization

Scenario:

A life insurance marketer sees an opportunity to transform

their business through an innovative new approach.

However, organizational silos are making it difficult for

them to achieve the alignment necessary to execute on

the vision. There is a belief that if they could clearly

articulate the benefits of this new approach they could

obtain the buy-in of senior leadership to make it happen.

Connected CRM Framework – Organization

15

How do we organize and

what capabilities and

business processes will be

necessary?

Organization

Discussion Questions:

– How are you organized to identify, serve, and retain customers based upon their value?

– Do you know if you are better than your competitors in orchestrating customer interactions?

– Is your organization optimally structured to

• Improve financial results? • Create competitive advantage? • Drive shareholder value?

– What would it take to achieve optimal organizational

alignment?

Connected CRM Framework – Organization

16

What data, systems, tools

and technologies

will be necessary?

Infra

stru

ctur

e

Scenario:

A marketing organization has made various investments

in data solutions, marketing technology and analytic

software over the past decade. According to the

industry research they have, most of the best-in-class

tools available to them, but usage of these assets

seems suboptimal. They are not sure how to get the

most value out of these investments, or whether it

might even be time to rethink the entire infrastructure.

Connected CRM Framework – Infrastructure

17

What data, systems, tools

and technologies

will be necessary?

Infra

stru

ctur

e

Discussion Questions:

– What would you most like to improve about your data?

• Nothing. It’s perfect! • Completeness • Cleanliness • Access • Ability to derive actionable insights

– What marketing/sales tools and technologies do you find

most useful?

– What tools and technologies are you exploring?

Connected CRM Framework – Infrastructure

Thank you!