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Knowledge Management for Actionable Sales and Marketing Strategies

Knowledge Management for Actionable Sales and Marketing Strategies. Haily Chow Senior Knowledge Management Manager 18 November 2004. Agenda. Overview Analytical KM Operational KM Innovational KM Practical Tips. Knowledge Management. Overview. Tacit Knowledge. Explicit Knowledge.

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Knowledge Management for Actionable Sales and Marketing Strategies

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  1. Knowledge Management for Actionable Sales and Marketing Strategies Haily Chow Senior Knowledge Management Manager 18 November 2004

  2. Agenda • Overview • Analytical KM • Operational KM • Innovational KM • Practical Tips

  3. Knowledge Management Overview

  4. Tacit Knowledge Explicit Knowledge TK EK TK EK EK Bank External Stakeholders Internal Stakeholders TK TK EK Overview

  5. Brain Perception Stomach Digestion Limbs Movement Overview Innovational KM Analytical KM Operational KM

  6. Knowledge Management Analytical KM

  7. Database (Customers’) TK • Demographics • Socio-economics • Banking Relationship • Transactions • Risk Exposure Knowledge Base (Bank’s ) EK • Customer Segmentation • Product Mapping • Propensity Score • Customer Value • Risk Assessment Analytical KM

  8. Customer Intelligence … • Who? • What? • How much? • Where? • When? Analytical KM Typical example… For whom and what?

  9. Analytical KM New thought … Timeliness “What I’m in mood to buy today, I may not even think about tomorrow.” Crossroad Group. Instant detection of sales opportunity

  10. Analytical KM Just-in-time selling … Day 1 10:00 Mr Wong paid down-payment with credit card Day 2 09:00 Detect credit card transaction in data warehouse 09:30 Trigger sales signal for mortgage and home insurance 12:00 Complete prospect customer screening (compliance) 13:00 Sales lead directed to telemarketing team

  11. Knowledge Management Operational KM

  12. Bank’s EK Customers’ Experience (Customers’ ) TK Operational KM “Customer Relationship Management” Knowledge in Action

  13. Operational KM Wrong question Right question • IT performance • Functionalities • System costs • Relevance • Adoption / Deployment • Return on Investment

  14. Knowledge Management Innovational KM

  15. Staff Innovation Innovational KM Work Innovation for Service Excellence (WISE) No. of WISE proposals in 2003 = 1,185 2004 Innovating with Customers Insights & Ideas Banks’ explicit knowledge

  16. Internal Customers Sales Support ProductDevelopment Communications ServiceQuality Marketing Innovational KM

  17. Group Discussion Hotline Internet Innovational KM Innovation + Dedication =

  18. Knowledge Management Practical Tips

  19. Roadblocks “Can’t do it, we have no resources.”

  20. Roadblocks “Don’t bother me with numbers. Just give me a list of names to meet my quota.”

  21. Roadblocks “We have got tons of fire fighting everyday, there’s no luxury for innovation.”

  22. Practical Tips • H ear • - Hear what others say, be open-minded • E ncourage • - Encourage “Yes, subject to…”, accept not “No, because …” • A dvocacy • - Advocate and communicate ideas with no jargon • R eview (AAR) • - Project is not complete until it is reviewed. • T raining / Learning • - Never rest on your laurels.

  23. Customer Experience Insights Operational KM Analytics Practical Tips Innovational KM Analytical KM

  24. Thank You !

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