Infosys announced last week that Bharti Airtel, India’s leading mobile service provider, has selected its WalletEdge platform to operate Airtel Money, the first mobile wallet service in India. This announcement is interesting from a few different perspectives. First, it will provide a new source of revenues for the Indian telecom industry, which has been struggling with low ARPUs for several years. Second, it’s a boon for the banking industry, which will find a way to accelerate financial inclusion initiatives in line with the recommendations from the Reserve Bank of India. Obviously, the urban Indian consumer will also benefit from the “pay anytime, anywhere” convenience of such a service.
I also look at this deal from an IT services industry perspective, and I believe that it embeds a set of very interesting attributes that will become increasingly prevalent in the way IT services vendors engage with their clients moving forward:
One of the things that continues to surprise me about many banks’ multi-channel strategies is how little most banks have integrated their ATMs into those strategies. Cash machines are by far the most commonly used banking channel. According to Forrester’s Consumer Technographics data, 74% of adults in Western Europe use a cash machine at least once a month, far more than use either branches or online banking that often.
Despite the introduction of Windows-based operating systems and colour screens, most banks aren’t doing much to engage customers on this most-frequent touchpoint. Most do little more than promote the product of the month to all comers. Only a few leaders, like Singapore’s OCBC Bank and Spain’s La Caixa, have integrated ATMs into their CRM systems, which lets them do clever things like remembering customer’s normal withdrawal amount, wishing customers a happy birthday and making products offer that are relevant to that particular customer.
Last week I hit a major personal milestone. My first report as a Forrester analyst went live!
As thrilling as this is for me, I hope it will be even more exciting for Customer Intelligence professionals.
The report is titled How Web Analytics will Emerge As A Cornerstone of Customer Intelligence, and is based on the premise that the web is the common demoninator for customer experiences and that this information can be harnessed and subsequently applied throughout the enteprise. This report outlines the future trajectory of Web analytics technology and gives CI professionals pragmatic advice about how to use that technology as a foundational component for customer intelligence that fuels multichannel marketing effectiveness.
Marketers today have a dizzying array of online and offline touchpoints at their disposal, but without a doubt all roads lead through the Web. For most organizations, Web sites, microsites, landing pages, communities, and other interactive properties are mission-critical for acquiring, retaining, and nurturing customers and other target audiences. By definition this reality makes the Web one of the most crucial sources of insight for Customer Intelligence (CI) professionals. To put that insight into action, firms must leverage Web analytics beyond isolated Web site marketing and operations to feed analysis, decision support, and execution for the entire marketing function.
I believe that Web analytics will extend beyond the Web site in two phases.
First - Web analytics platforms will cement their position as the nucleus of online measurement by continuing their current diversification efforts to extend beyond core Web analytics capabilities.