"Adopt Agile Marketing to Keep Pace with the Speed of Digital" CMG
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The document advocates for agile marketing in the financial services sector to enhance responsiveness to digital disruptions and customer demands. It highlights that many banks struggle with personalization despite executives believing they provide excellent service, indicating a disconnect with consumers. By adopting agile marketing frameworks, organizations can improve performance, empower teams, and foster a better understanding of customer needs.
"Adopt Agile Marketing to Keep Pace with the Speed of Digital" CMG
- 1. Adopt Agile Marketing to Keep Pace with the Speed of Digital Barre Hardy, Associate Partner @cmgpartners
- 2. The times, they are a-changin’ Digital disruption requires exponential speed in action and reaction 2© 2015 CMG Consulting - CONFIDENTIAL 50% of web users have purchased online Launch The Rise of FinTech Facebook hits 1 Billion active users 54 million U.S. households accessing online banking Direct banking DIGITALFINANCIAL 2002 2005$ 2007 2009 2012 20162004 Card spending overtakes cash Facebook founded Launch
- 3. The new reality is digital More digital, mobile, personal services are table stakes 3© 2015 CMG Consulting - CONFIDENTIAL Source: © 2015 CapGemini & EFMA
- 4. No one says it’s gonna be easy 4© 2015 CMG Consulting - CONFIDENTIAL Source: © 2015 TimeTrade 60% of consumers report they do not have a personal connection to their bank. 47% of banking executives rate their institution’s ability to deliver a personalized experience as “excellent”. We deliver excellent personalized service. My bank doesn’t know me very well.
- 5. Financial Services marketing is getting squeezed Internal & external challenges make change necessary 5© 2015 CMG Consulting - CONFIDENTIAL INTERNAL ISSUES EXTERNAL PRESSURES EXTERNAL • Customer Demands • Regulations • New Competition INTERNAL • Lengthy go-to-market process • Marketing siloes • Increasing work volume • Ever-changing environment
- 6. Agile marketing is a smart choice Transform your marketing to respond to change 6© 2015 CMG Consulting - CONFIDENTIAL Source: © 2015 ValTech
- 7. Let’s do the math… 7© 2015 CMG Consulting - CONFIDENTIAL Source: © 2015 TimeTrade Data Customer Experience Digital Experience Agile= + +
- 8. The only sustainable competitive advantage is your organization’s ability to learn faster than the competition. 8© 2015 CMG Consulting - CONFIDENTIAL Source: ©1990Peter Senge,The Fifth Discipline
- 9. Agile Marketing: a data-driven, iterative approach 9© 2015 CMG Consulting - CONFIDENTIAL • Achieve better performance • Execute more effectively • Champion the customer
- 10. Agile elevates Performance 10© 2015 CMG Consulting - CONFIDENTIAL 3. Focus on Quality1. Empowered Teams 4. Rapid Learning Cycles2. Focus on Customers
- 11. The playbook for a winning game plan Agile marketing discipline will up your execution game 11© 2015 CMG Consulting - CONFIDENTIAL 1. 2. 3. 4. 5.
- 12. Champion the Customer 12© 2015 CMG Consulting - CONFIDENTIAL It’s really tough as marketers to put your heart and soul into a project that doesn’t resonate with buyers. So why continue to do the same thing and waste more time and waste your buyer’s time? It always comes back to the buyer. That’s the root of everything. -Travis Arnold, President, Harbinger Labs Source: (C) 2014CMG CMO’sAgenda
- 13. Why do it? Results. Agile marketers report gaining big benefits across the board 13© 2015 CMG Consulting - CONFIDENTIAL Source: ©2014CMG.The CMO‘s Agenda
- 14. We have to be careful that we don’t let all this great activity that we’re getting done because of agile marketing lull us into thinking that we’re accomplishing our goals just because we’re moving so much from the backlog to ‘Done’. 14© 2015 CMG Consulting - CONFIDENTIAL Source: ©2014Matt Heinz, Agile Marketing Blog
- 15. Align around the business problem 15© 2015 CMG Consulting - CONFIDENTIAL • Regain #1 position in the market • Engage customers better • Grow net sales by X% • Increase activation rate from X to Y
- 16. Build your testing culture to drive insight Through trial and error, you can better understand the customer experience 16© 2015 CMG Consulting - CONFIDENTIAL Where is the leakage for callers, branch, web? Where do they need more information? How well do you deliver on their needs? Is it easy to access the information customers need? Where aren’t you meeting expectations?
- 17. Link marketing activity to business outcomes Prioritize activities that will move the needle on your big goals © 2015 CMG Consulting - CONFIDENTIAL 27% increase in viewership Underperforming by 60%
- 18. 18© 2015 CMG Consulting - CONFIDENTIAL They've embraced a lot of additional responsibility. Because they own certain things, they drive them differently than they would otherwise. It forces them to look at the business purpose of what they’re doing. It’s made them smarter. – Amanda Paull, Extensis, VP of Marketing Foster collaboration and empowerment It’s the culture and the people, not the process, that makes agile work.
- 19. Agile for Marketing is the future – come along! Financial services are proving to be early adopters of the approach 19© 2015 CMG Consulting - CONFIDENTIAL
- 20. Questions? 20© 2015 CMG Consulting - CONFIDENTIAL
- 21. Thank You CMGpartners.com/A4M Meet us at Booth #2