Using Facebook to Better CRM

UniCredit Bank and SocialSharksWA S H I N G T O N S TAT E U N I V E R S I T Y, M B A 2 0 1 4 . N A T H A N H U N G A T E , B R E T T J A C O B S , N I C K K U F U S , D A V E M C C L E L L A N

Data collected should be cleaned and normalized as much as possible before being stored in the data warehouse.

◦ Normalization

◦ Granularity

Sentiment analysis tools can be useful in assigning numbers from seemingly obscure comments

◦ SocialMention

After data is normalized, run a regression analysis to determine predictors of outcomes with different variables

◦ Ex. Is age an important factor in determining the customer’s sentiment analysis output numbers?

◦ Is customer location a factor?

Patterns for unusually low, or unusually high sentiment numbers should be identified and researched

Data Analysis

Social Mention

KPI’s should be identified and used as a measure of success

Typical Social Media KPI’s Include:

◦ Reach (# of unique people who saw your post)

◦ Engagement (# of Likes+Comments+Shares)/(Total # of Fans)

◦ Traffic Data (how much of our website traffic is coming from social media)

◦ Link Click Through rate (# of clicks on an ad)/(total times the ad was seen)

◦ Key Influencer Identification (identifies influencers and targets a marketing plan toward them)

◦ Demographic information

Data Analysis

Couple the Facebook data with the current CRM data

Perform analyses on current CRM data within the bank

Market Facebook account towards the demographics most widely using social media to interact with them

Use current CRM data to narrow down products to be marketed on Facebook

Use Facebook to engage customers and receive feedback / ideas to better the bank

Don’t use Facebook as your data source to get hard informational numbers on your customers (use current CRM within the bank to find these numbers to analyze), use Facebook more as a thermometer to get an idea at how you are being perceived / connect with customers on a personal level (customer service in a way)

Big Data Analysis

Data Mining vs. Targeted Marketing to Fans

With Facebook Pages, page managers can disseminate targeted posts to finer grain demographics than are capable of being mined

Unfortunately, there is no way to back up any decisions on who to target with data, since those slicers are not provided

It is still possible to determine key demographics by measuring engagement while scientifically varying the targeted audience for posts with the same content Difficult to pragmatically record such insights into a database for further analysis

Facebook’s data is meant for marketing via ads, not for exporting into a data warehouse to link with individual customer data

Engage customers through Facebook posts

Information on the bank

Successful products

New products

Ask the customers what they would like to see offered from the bank / ideas

Respond to customers to develop engagement

Create satisfaction for the customers

Bank Data Analysis

CapabilitiesProvides Fan Information

AgeGenderCountry and City of ResidenceLanguage Spoken

Identifies:Reach / EngagementPopularity of each post / post typeMost popular time of day to engage

Can export data to ExcelUse PowerPivot for analysis

LimitationsNo individual identificationNo access to requested demographic slicers

Marital StatusEducationInterests and HobbiesInteraction on Facebook

Unable to categorize users beyond basic demographicsCan’t see # of fans, activities, etc.The scope of analytics available with the demographic information provided by Facebook Insights is relatively limited compared to what is desired by UniCredit

Data Mining

Demographic information is aggregated, identifying

individuals is not possible due to privacy concerns

Reports in Facebook Insights

Maintain a strong connection between IT and Marketing!!!

Focus on:

1. User Retention Metrics surrounding policy implementation

2. User Conversions, monitor switching from other banks through customer questionnaire

3. Sales leads generation (automated) through CRM platform, identifying Facebook users that are not customers to engage with

4. Maintain and develop Easy communication/reporting platform between banks (successful campaigns made readily available to other branches)

5. Monitor effectiveness of Multi-Channel Communication with Marketing Campaigns (emails, tweets, text message, application communication, Voice mail, tv ads. Etc.)

6. Identify trends in demographics between partner banks to enhance marketing efforts through demographic comparisons of individual bank data.

Working w/Data Internationally and within Czech

Time savings (automated at targeting generation, etc.)

Professional Ad targeting

Cost savings through increased ad targeting and reducing inefficiencies

Convenience for management Easy to understand marketing efforts

Increased customer satisfaction

Faster lead generation quicker to market, agile decision making capabilities

Customer Validity and Engagement

Our Recommendations aim for: PROFIT!

We can help reduce gaps with efficient ad targeting

Throughout UniCredit Group:

Utilize Facebook Insights

Couple the Data with current CRM data

Enhance customer awareness with SocialMention

Monitor 10 Facebook KPI’s provided above

Basic Recommendations

Increased Structured

Increase Customer

Engagement with Pictures

Easy “follow buttons” at top of page

Short phrases used instead

of wordy paragraphs of

descriptions

Social Media Page: Wells Fargo vs. UniCredit BankRecommendation 1

Suggested “Social Media” Page

Connect with our

professional network

View recent UniCredit

Bank Videos on YouTube

Join and like our Social

Network

Follow us on Twitter, view

recent posts and trends

Join UniCredit in the Conversation Share your story

today!

Recent Blog Posts:

Facebook Pages:UniCredit

Champions

UniCredit

Bank Austria

Hypovereins

Bank Kultur

More blog posts….

Have UniCredit be a sponsor of smaller sporting matches at the top levels for developing players as well as the Champions league.

Waiting Que (For current UniCredit Members only)

1. Instruct members in line to Add Facebook “UniCredit Group Event App”

2. Customers are ID verified through UniCredit Banks system via. Tablet

3. Get unique login ID generated from tablet that attaches CustomerID to a Name◦ Specific to this individual and attached to their bank profile and FB profile

4. Customers are handed Tablet to login to FB with

5. Log into UniCredit Group Event App with their unique login ID on Tablet

5. Hand tablet to UniCredit Employee to take their picture with player cutout

6. Employee posts pic on the UniCredit Group Event App wall with tag

7. Customer receives a free t-shirt, free scarf, Picture with real players,

wears real jersey, free soccer ball, free beer voucher for older customers etc..

8. Lock the app for verified customers only, survey customers on app

UniCredit Group Event AppOnboarding new customers and current customers at eventsRecommendation 2

Combine Facebook data with data analyzed through UniCredit’s Teradata data hosting solution

Attach unique Customer ID to existing Teradata and the attached columns of customer survey data

Existing Teradata: Facebook Data:

What to do with UniCredit Group Event App Data??Recommendation 2 Continued

Throughout UniCredit Bank (Czech):

Increases engagement with younger generation

Ad targeting while customers are enjoying themselves is more effective

Increases “enjoyment” aspect of business similar to investing in the Champions League

Have fans vote for which artist UniCredit Bank should acquire and represent them

Dr. Pepper/Snapple Group: 7UP partners with EDM artist Tiesto:http://www.businesswire.com/news/home/20140303005304/en/7UP%C2%AE-Booms-Electronic-Dance-Music-Scene-7x7UP#.U3JKsfldWSo

Partner with EDM ArtistHold EDM event with UniCredit Bank as Sponsor

Recommendation 3

Couple Facebook insights with CRM bank data to effectively engage the target market with an ideal offering of products/services oriented towards customer needs/demands.

Use social media toolpack that is ideal for their needs. Don’t pay for more than their needs. Scalable technology is a plus

Maintain similar granularity and normalization across all data points

◦ Make sure you are “comparing apples to apples”

To Maintain Consistency:

If the new plan is not increasing customer engagement and satisfaction, changes must be made!

Jakékolivdotazy?

EXTRA CONTENT:

Quarterly Revenue

ROA/Net Profit Margin/Growth

5 Year Stock Returns Underperforming

Stock issues needing to be addressed:

2 Year stock returns: Slow Growth, but More Optimistic

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