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Customer acquisitions in a changing digital landscape
Cherian Abraham Experian
Mara Nicholl Experian
#vision2014
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Industry update
Cherian Abraham
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Which channel has all the growth?
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Digital acquisitions is going gangbusters
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Evolving customer preferences
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Customers have a polygamous relationship with devices
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TV no longer commands exclusivity
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Customers move across devices during the day
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Challenges
A captive but fickle audience that expects a full-service channel
A requirement to authenticate through an imperfect channel
A channel that brings “context” to top of the pile
A channel that is uncompromising when it comes to customer centricity
A channel that is diverse – devices, ecosystems, gatekeepers, technologies
Mobile customer experience Opportunities and challenges
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Recommendations
Solving for customer anonymity by answering identity – downstream
Optimize the acquisitions flow based on device strategy
Reduce steps; reduce friction
Ask less
Balance risk mitigation and customer experience = optimal approach
Cross-device identity resolution
Mobile customer experience Opportunities and challenges
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Why would you care?
Consistent experience across channel, across devices
Optimizing brings context, relevance and customer value
Friction and fragmentation leads to consumer frustration and abandonment
One view of customer forces you in to clarity of purpose in customer interactions
A holistic view of the customer leads to better capabilities around authentication
Mobile customer experience Opportunities and challenges
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Rethinking digital
Mara Nicholl
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Consumers expectations are changing
74% of online consumers get frustrated
with websites when content has nothing
to do with their interests “
” – 2013 Online Personal Experience study by Janrain
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Meet Dan
What you’ve seen before…
Meet Becca
798
VantageScore®
610
VantageScore®
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How do you customize their experience?
We have great rates
on credit cards!
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Becca Dan
One-to-one multi-channel campaigns
Direct match display
Video pre-roll
Direct match mobile
Direct match display
Addressable TV
Direct mail
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Ultimately they both end up in the same place
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What you saw was an Experian end-to-end data-driven solution
Experian
Find your audience
Reach your
customers
Authentication Credit
qualified offers
Measure results
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Convert Web traffic
Client CRM system
Cookie match file
Present ad
Initial ad engagement
Create look-a-like file
Client Website
Consumer consents for
soft inquiry
File OneSM
credit data
We have best-fit
options for you!
Organic search
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NEW! Utilize your prescreen file to increase efficiency
No
File OneSM
We have best-fit
options for you!
Prescreened mail file
Cookie match file
Present ad
Initial ad engagement
Client CRM system
Initial ad engagement
Client Website
Consumer consents
for pre-approval
Checks
prescreened list
Organic search
You’re
pre-approved!
Yes
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It’s not just about click through rates…
The average click through rate of display ads is 0.1%
“Clickers” are very different from “buyers”
Incorporate client degradation rates into success metrics
A truly optimized digital acquisition strategy measures success by the number of consumers diverted to the site and credit qualified leads
Rethinking success metrics
“You are more likely
to survive a plane
crash than click on
a banner ad” -
Solve Media
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Matching promotions with responses or purchase
Advertising exposure data XYZ bank CRM
Customer contacts XYZ Bank to
begin the loan process through
the Website or by calling
Linkage
and
attribution
Reporting
interface
Direct Mail, Emails,
display ads, and TV
ad viewed
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Optimized experience
Managing risk
Authentication
High quality traffic to your website
Targeting the right audience
Display only best-fit credit products
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Are you ready for digital acquisition?
What do your charge-offs look like for
ITA vs. Credit
What does your cost of account look
like at booking?
Do you buy media on
large platform advertisers?
Looking to link cross channel
acquisition marketing?
Are you concerned
about adverse select?
Do you want to prospect
online?
Do you want to increase online loan conversion
rates?
Are you looking to
grow online loan
applications?
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Experian making it happen
Increasingly
effective
Leverage current online advertising strategies by
layering on Experian data at no cost
Leverage your prescreened mail file to re-present mail
offers to prospects more likely to respond online
Increasingly
efficient
Engage consumers across multiple channels when they
are ready to buy
Present credit-qualified offers to improve application
completion rates by 40%
Single
source
The only bureau able to offer targeted digital advertising
capabilities and robust credit decisioning tools for an
integrated data driven strategy
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For additional information, please contact:
[email protected]
[email protected]
Hear the latest from Vision 2014
in the Daily Roundup:
www.experian.com/vision/blog
@ExperianVision | #vision2014
Follow us on Twitter
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