IndusInd Bank Turns to IBM to Deepen Customer Relationships

Big Data Insights to connect customers with contextual information on the go, deliver personalized offers

BigDataCubeIBM has announced a first-of-a-kind engagement with IndusInd Bank, a Mumbai-based, new generation private bank that offers retail, commercial, transactional and electronic banking products and services. IBM will provide innovative technology – to enable IndusInd Bank to deepen customer relationships by delivering personalized, location – based recommendations and offers in real time.

IBM Research – India has developed a new technology that connects people with contextual information. Once a user has opted-in for the service, the tool cross-references the user’s location with the user’s activity to provide useful insights. As users conduct daily transactions, such as buying airline tickets, or shopping at the mall, the system sends relevant promotions by Email, and mobile alerts as per user preferences.

CEOs and C-Suite leaders around the world are reassessing how to serve their customers not as a mass audience, but as individuals with personalized needs. As part of its broader strategy, IndusInd Bank is making a major investment to transform its entire front office – every system, process and person that touches the customer – to better anticipate, respond to and capitalize on future events quickly and ahead of its competition.

Read the complete article on IndusIndbank.com

- posted by Khalid Raza

IBM Software Enabling Companies to Reinvent Relationships with Exceptional Digital Experiences

IBM Digital Experience softwareIBM has announced new Digital Experience software that allows organizations to create customized digital experiences that reinvent the way they engage with their most important audiences: customers, employees and business partners.

Aligned with IBM’s Smarter Commerce initiative, the new software enables line-of-business employees from marketing, sales, HR and customer loyalty, to produce, share and distribute digital content on the fly, to all mobile and social channels — without the need for IT technical skills or outside assistance.

The growth of mobile, online, social media and commerce trends has spawned the rise of the digital consumer, which requires businesses to deepen their interactions with individuals, and accelerate data-driven decisions into functions such as marketing, sales, service and human resources.

Building on these demands, IBM’s Digital Experience software allows CMOs to provide customers with relevant information and offers that are based on their preferences and can be quickly published to all digital channels and mobile devices.

An example: while at a conference, marketing and event teams can develop professional-grade assets that incorporate client interviews, show floor footage, audio and text overlays, and in just a few simple clicks, publish it to the broadest range of social, mobile and online channels. Read the complete article on The Telegraph.

—- Posted by Khalid Raza

Bank on analytics for understanding customers better

IBM logoEver since the commercialization of the internet, and the advent of social media, customer-centricity has become a norm across industries. For banks in particular, this extends new customer touch points, implying the opportunity to relook at segmentation, channels and pricing. For example, banks can adopt a needs-based and behavior-based segmentation strategy by keeping a tab on client interactions over its channels. It is easier said than done. Banks will have to first understand how people bank, how often they bank and what products and services they seek when banking. Thanks to the power of analytics, it is no more a challenge for banks. Take the example of Central Bank of India. It recently announced the adoption of analytics solution in order to uncover new sources of customer value. Analytics, according to the bank’s spokesperson provides great levers for it to identify cross-sell and up-sell opportunities and increase customer wallet share.

Read the complete article in IndiaOnwards

Biggest Data Concern? Accuracy and Efficacy, says IBM’s Virginia Sharma

CMOs are influencing manufacturing and distribution decisions, says IBM’s Virginia Sharma, chairperson, DMAi 2013 Convention

Virginia SharmaVirginia Sharma, Vice President, Marketing and Communications, IBM India/South Asia firmly believes that data driven marketing will definitely play a major role in understanding customer experiences and shaping communication demands. In an e-mailed interaction with Campaign India before the DMAi 2013 Convention, scheduled in Mumbai on 4 and 5 June, Sharma explains the importance of analyzing big data with examples of brands that have done so optimally.

Do you see data driven marketing gaining importance today? How does this manifest in marketing spends or company budgets?

Researchers say that ‘By 2020 we will have 35 zettabytes of data created annually’ – Facebook, Twitter, emails, videos and more. With all this data available and customers’ ever-increasing demands, how we use and what we do with this data becomes critical as we design marketing campaigns, generate demands and shape customer experience. Hence, there is no doubting, that data driven marketing is coming of age.

In an era of big data, consumers now expect more of brands – not just good service, but hyper-personalized and high-value service.  By using analytics, marketers can actually predict precise moments to engage customers with the right information or right suggestion in a personalised, authentic way – so that marketing feels less intrusive and more like a welcomed service.

Read the complete article on Campaign India.

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How the Internet Has Outdated Your BtoB Sales Process

by professional speaker, chief strategist, and best-selling author Mike Moran, in Biznology.com

I’m old. 30 years ago, I learned how IBM qualified leads for sales. At the time, I know now, it was unusual to even have a process for such a thing, but that is how IBM worked (and still does). Most B2B businesses did not have such a process and the ones who did probably did not follow them as religiously as IBM did, but even if you don’t know you have a process, you do. Whatever you do is your process. And unless you have seriously revisited it the last few years, the Internet has broken your B2B sales process.

Les étapes que vous devez définir pour l’enton...

Image by eric.delcroix

All this was brought to mind as I prepared for a session I am doing Monday in Copenhagen for the IAA on using social media for sales leads. (Please sign up if you are in town.) As I thought back to the old IBM process, I am not sure any of it works anymore.

IBM had its own names for it, but the process closely resembles one that many B2B marketers use called BANT, which stands for Budget, Authority, Need, and Timeline. Basically, what it says is that a well-qualified lead has all of those qualities–the budget to make the purchase, the authority to do so, a proven need for what your product or service does, and a timeline in which to take action.

As someone who still speaks to clients every day about the services they need to succeed in Internet marketing, I wonder how anyone qualifies a lead anymore. First off, I am never talking to the person who has the authority to make the purchase–often it takes three people (including one in purchasing) to sign off, so no one person has the authority. I am not sure if the Internet screwed that up, but it screwed up everything else.

Budget, Need, and Timeline can’t really be looked at as separate items anymore. In the digital age, no one knows in October of 2012 what they will need in November of 2013, but that is when the budget is set for it–if “set” is even the right word. Budgets whipsaw back and forth as results as reported, because everyone knows immediately how they are doing and make rapid course corrections, in part because the Internet has raised stick price speculations to a high art. Everyone is taking corrective action with budgets before anyone even knows there is a problem.

So budgets emerge only after people think there is a need. And, as with budgets, how can you know there is a need when things are changing so fast? You don’t have a need that you spend a year fulfilling–you discover something (from surfing on the Web, or searching, or hearing from a colleague) that would make your business better and then, voila! You get the budget and set the timeline.

Things move too fast for it to be any other way.

So, what is the real way to qualify leads? I am  not sure, but remember that the goal is not to qualify leads–it is to sell stuff. And I think I do know how to sell stuff. You must educate your customer–you must create the need. If you do, the authority, budget, and timeline will fall into place and you will have a sale.

And, although the Internet bollixed up the sales qualification process, it didn’t mess up selling stuff. Use the Internet to create the need with content marketing. Put together the deep, persuasive content that explains the problem and explains the options for solving it, including yours. Then share it everywhere and make it discoverable by searchers and wait for the leads to come in. I bet they will be qualified after they’ve read that much about you.

Then, get your sales teams to focus on social media to engage with potential clients. Use LinkedIn, Twitter, Facebook–whatever works–to help nudge the clients through the last few stages. It isn’t just phone calls and e-mails anymore.

It might not sound like fancy process, but I bet it will sound good when you ring the cash register.

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About the author:

mikemoran-photo

Author of Do It Wrong Quickly, on Internet marketing, and the best-selling Search Engine Marketing, Inc., Mike Moran led many initiatives on IBM’s site for eight years, including IBM’s original search marketing strategy. He holds an Advanced Certificate in Market Management Practice from the Royal UK Charter Institute of Marketing, is a Visiting Lecturer at the University of Virginia’s Darden School of Business, and regularly teaches at Rutgers, UC Irvine, and UCLA. In addition to his contributions to Biznology, Mike is a regular columnist for Search Engine Guide. He also frequently keynotes conferences worldwide on digital marketing for marketers, public relations specialists, market researchers, and technologists, and serves as Chief Strategist for Converseon, a leading digital media marketing agency. Prior to joining Converseon, Mike worked for IBM for 30 years, rising to the level of Distinguished Engineer.

Mike can be reached through his Web site (mikemoran.com). Follow him on Twitter at @MikeMoran.

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Posted by Regan Kelly