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Strategies to move to customer-centric productisation and pricing

Strategies to move to customer-centric productisation and pricing. Asian Banker Conference, 6th April 2011. K. Nanda Kumar CEO, SunTec. Why Customer Centricity?. Non-traditional competition (Telcos, retailers..). Opportunities in rural and SME segments. Changing customer needs.

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Strategies to move to customer-centric productisation and pricing

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  1. Strategies to move to customer-centric productisation and pricing Asian Banker Conference, 6th April 2011 K. Nanda Kumar CEO, SunTec

  2. Why Customer Centricity? Non-traditional competition (Telcos, retailers..) Opportunities in rural and SME segments Changing customer needs International expansion Competition from global players Market saturation Need for Customer centric strategies 2 SunTec confidential | www.suntecgroup.com SunTec confidential | www.suntecgroup.com

  3. Build Trust; Own Customers! Steps to build trust and own customers Customer Trust & Ownership Know Your customers Deliver right customer experience 1 2 Provide right Product and price 3 Track and retain Valuable customer 4 SunTec confidential | www.suntecgroup.com

  4. 1. Know your Customers Customer Intelligence Degree of understanding customers Segmentation 360 degree View Customer Management • Predictive modeling • Intelligent offerings • Behavioral • Value based • Demographic • Others • Products • Accounts • Regions • Channels • Hierarchy • Profile • Transactions 4 SunTec confidential | www.suntecgroup.com SunTec confidential | www.suntecgroup.com

  5. 2. Offer right products and price plans Customer needs/ Lifecycle value Future needs of customer Competitor plans Business objectives Modeling of best value price plans Modeling of best value product packages Personalized and differential pricing Segment focused bundles/packages 5 SunTec confidential | www.suntecgroup.com SunTec confidential | www.suntecgroup.com

  6. 3. Deliver compelling customer experience Relationship Value matrix Total Transaction Volume Profitable Behavior Financial Milestones Long-term Customer Value Loyalty to the bank Future Affiliated Potential Customer Relationship Value (RV) Segments based on Relationship Value Superior Experience leads to trust Unique segment focused customer benefits 6 SunTec confidential | www.suntecgroup.com SunTec confidential | www.suntecgroup.com

  7. 4.Track and retain valuable customers Constantly track and retain valuable customers Reward high- value customers Customer value/experience analysis Transform medium-value customers Relationship value/customer profitability measure Customer benefits (Financial/Non-Financial) Invite profitable customers Deter low- value customers Need a technology platform to constantly monitor customer value 7 SunTec confidential | www.suntecgroup.com SunTec confidential | www.suntecgroup.com

  8. Technology to enable customer centricity Track and retain Valuable customer Deliver right customer experience Know Your customers 4 2 1 3 Provide right Product and price ` Customer value analysis Lifecycle value based benefits Customer centric pricing 360 degree view 360 degree view Multi channel driven personalized experience Business profitability analysis Risk/SLA based price variations Micro Segmentation Behavior modeling Revenue impact analysis Relationship focused price plans Customer focused bundled offerings Technology Platform enabling Customer Centricity SunTec confidential | www.suntecgroup.com

  9. Customer centricity: Impact on top line/ bottom line “Segment focused product offerings in an Indian bank enabled 74% growth in fee income” Surge in revenues…… • Increased sales volumes • Retention of high value customers • Improved up-selling and cross selling “A leading Indian private bank plugged $447 thousand a year, through centralized pricing and billing implementation “ Assured profits….. • Prompt encouragement of profitable businesses • Control over operational margins and costs • Right pricing for right customers • Product and customer level profitability 9 SunTec confidential | www.suntecgroup.com SunTec confidential | www.suntecgroup.com

  10. HFCL MTNL SunTec – Pioneering Relationship-based Pricing in financial services industry since 2000 All ‘early adopters’ and innovators in the Banking, Financial Services & Insurance space as clients. Q&A Clients across Communications, Media & Entertainment, Port Operations, Leasing and Fleet Management. knk@suntecgroup.com 10 SunTec confidential | www.suntecgroup.com SunTec confidential | www.suntecgroup.com

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