mfea dts 2015 - marco bailetti
TRANSCRIPT
Operationalizing Analytics Marco Bailetti Vice President Client Insights—Franklin Templeton Investments
For Internal Use Only / Not for Distribution to the Public
MFEA | Operationalize Analytics
Marco Bailetti, VP Client Insights
Franklin Templeton
“An investment in knowledge pays the best interest.” ~ Benjamin Franklin
26 February 2015
For Internal Use Only / Not for Distribution to the Public 3
• Analytics Catalysts: Why this Matters
• Operationalize Analytics: Lessons Learned
• Contact Strategy: Analytics in Action
Agenda
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Analytics Catalysts
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Market Factors Create Need For Analytics
5
ACTIVE / PASSIVE
OUTCOME FOCUS SHIFT TO FEE
NEW COMPETITORS
CHANGES IN DISTRIBUTION
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Impact Areas & Analytics Opportunity
6
CONTACT STRATEGIES
• Customer centric approach • Efficient coverage models • Relevant & timely messages
VALUE PROPOSITION
• Beyond product & relationships • Positioning vs. Competitors • Case for Active Management
MEASUREMENT • Activity based metrics KPI • Joint accountability • Beyond gross sales
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OPERATIONALIZATION
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1. Value of Analytics is about influencing decisions
2. Meaningful measurement is key
3. Analytics is disruptive
4. The incremental tactics are powerful
5. ‘Operationalize’ Analytics for greater return
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Lessons Learned | Value from Analytics
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Operationalize Analytics
• Embedded into a core function
of the business, influencing key decisions
• Business capability vs. technology (people, process & platform)
• Trusted data & models that are
automated, managed and integrated into technology stack
WHAT IS IT
• Enables time to market as competitive advantage
• Realize value of investments in data, analytics and technology
• Shifts discussion from data debate and pilots to insights and strategic capability
WHY IT MATTERS
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1. Output should be consumable and actionable
2. Integrate into front line systems & process
3. Open collaboration with simple feedback loop
4. Leverage vendors & plan for long on-boarding
5. Minimize customization and dependencies
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Lessons Learned | Operationalization
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CONTACT STRATEGY
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Work back from single KPI: Market Share
• Assume fixed resources
• Augment sales reach with
digital channel
• Optimal # of contacts & sequence by segment
• Apply uplift modeling to
identify opportunity • Build scenario based planning
tools
• Targeted messaging & micro-
segmentation • Test & learn • Leads + insights
• Customer experience vs.
driving to sale
• Consistent and timely message across channel
RELEVANCE
Advisor Coverage | Impact with Relevance
CAPACITY MODEL
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Advisor Coverage | Focus on Uplift
‘Persuadable’, might respond if targeted
20%
80%
80%
20%
Advisors SalesTop Producers Other
TOP PRODUCER
Focus on incremental lift to increase market share and 3 year pipeline
‘Sure Thing’- going to buy
Not going to buy
Do not disturb, or else…
INCREMENTAL OPPORTUNITY
Advisors
10%
20%
20%
50%
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Advisor A Purchased Templeton BRIC Fund on Aug 1, 2011 Experienced: 4th quartile
performance -6.25% return
Advisor B Purchased Templeton BRIC Fund on Aug 1, 2013 Experienced: 1st quartile
performance 16.05% return
--- PRODUCT EXPERIENCE ---
TARGETED MESSAGING
“Congratulations on recommending the TOP QUARTILE Templeton BRIC Fund to your clients!”
Advisor Experience | First Entered Fund
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NET SALES
REL
ATIV
E PE
RFO
RM
AN
CE
(VS.
BEN
CH
MAR
K)
+ -
+
-
Happy, and taking gains
Action: retain within complex
Happy and buying more
Action: up-sell & cross sell
Action: acknowledge challenges, reinforce long term view
Not happy and redeeming Sees value, OR, about to redeem
Action: pro-actively engage, ask exploratory questions
Advisor Experience | Target The Message
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DESCRIPTIVE PRESCRIPTIVE ADDITIVE Present details of the analytics models and science up front
Hide the science, and script the message
Deliver timely themes backed with data, that can be woven into sales conversations
Deliver Insights | Additive to Conversation
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• Leverage market pressures as catalysts to adopt and execute Analytic strategies and align Marketing and Sales teams
• Value of Analytics is about decision making. Operationalization is about embedding data-driven decision into a core function
• Build data-driven contact strategy to; win with relevance, focus on the ‘persuadables’ and deliver additive insights
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Summary
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THANK YOU!
Questions for Marco