Engaging with perpetually connected customers is something you can't fake, and when you engage, you create expectations that need to be met. This is one of the key messages Yannick Grecourt, Head of Strategy and Marketing at Deutsche Bank Belgium, shared with me when I talked to him recently in preparation for his speech at our Forrester Forum for Marketing Leaders EMEA.
Q: How does Deutsche Bank Belgium prioritize the most important channels for reaching customers?
A: Confronted with remarks on why other banks were developing new initiatives and we were not, we were forced to share our direction with all the internal divisions explaining the prioritization process. We decided to divide all channels into two categories: the managed and integrated channels, and the ‘non-integrated’ channels, and we used the customer journey to define all possible touch points. For the integrated category, the most important elements are alignment and relevancy, whereas for the non-integrated the judgment call is made based on the impact to the integrated channels.
Q: How do digital channels improve the advisor/client relationship?
A: A key impact of the financial crisis was the increasing involvement of clients in the management of their portfolio. As a consequence, clients were in search of more frequent contact but in a more and more digitalized environment. The development of a new advisory approach included a new online platform that has allowed us to align the tools we provide to our clients with the tools we use internally. As a matter of fact, our clients are sharing the same tools and information as our advisors do. Over time, clients are also getting used to how important/urgent a message is depending on the channel.
This week I had a chance to catch up with Peter Horst, Senior Vice President of Brand Marketing at Capital One, in advance of his keynote later this month at Forrester’s Marketing Forum in LA. Peter will be speaking about how Capital One approached the integration and brand conversion of ING Direct, after the 2011 acquisition of the retail bank. Check out a preview of Peter’s session in the below Q&A, or join me in Los Angeles, April 18-19, to hear Capital One’s full story.
Q. What was the biggest challenge around the ING Direct integration strategy?
The biggest overall challenge was what we called “protecting the butterfly.” It became obvious to us that the magic of ING Direct did not lie in something as simple as a piece of technology, or a specific body of expertise, or some financial asset. What made ING Direct such a unique franchise was a complete ecosystem whose parts all worked together to create an exceptional customer experience. These parts included a powerful sense of mission, a culture of simplicity, a passion for serving customers, products that were offered straightforward value, a brand voice that was friendly and humorous, and much more. We realized that we had to be very careful not to disturb this ecosystem as we integrated the business, and remained on high alert to any risk that we might be undermining the interaction of the parts. One area in particular that we were very focused on was ensuring that the associates remained engaged and excited for this next leg of their journey.
Q. How did you approach this integration differently from past brand conversions?