knowledge management for actionable sales and marketing strategies haily chow senior knowledge...

Knowledge Management Knowledge Management

for Actionable Sales and for Actionable Sales and

Marketing StrategiesMarketing Strategies

Haily ChowHaily ChowSenior Knowledge Management ManagerSenior Knowledge Management Manager

18 November 200418 November 2004

AgendaAgenda

• Overview

• Analytical KM

• Operational KM

• Innovational KM

• Practical Tips

Overview

Knowledge ManagementKnowledge Management

OverviewOverview

Tacit Knowledge

TK

Explicit Knowledge

EK

External Stakeholders

Internal Stakeholders

Bank

TK

EK

TK

EK

EK

TK

OverviewOverview

LimbsMovement

StomachDigestion

BrainPerceptionInnovational

KM

Analytical KM

Operational KM

Analytical KM

Knowledge ManagementKnowledge Management

Analytical KMAnalytical KM

• Customer Segmentation• Product Mapping• Propensity Score• Customer Value• Risk Assessment

Knowledge Base(Bank’s )EK

Database(Customers’ )• Demographics• Socio-economics• Banking Relationship• Transactions• Risk Exposure

TK

Analytical KMAnalytical KM

Typical example…

For whom and what?For whom and what?

Customer Intelligence …

Who? Who?

What? What?

How much? How much?

WhereWhere? ?

When? When?

Analytical KMAnalytical KM

New thought …

Timeliness

Instant detection of sales Instant detection of sales

opportunityopportunity

“What I’m in mood to buy today, I may

not even think about tomorrow.”

Crossroad Group.

Analytical KMAnalytical KM

Just-in-time selling …

Day 1Day 1

10:00 10:00 Mr Wong paid down-payment with credit cardMr Wong paid down-payment with credit card

09:30 09:30 Trigger sales signal for mortgage and home insuranceTrigger sales signal for mortgage and home insurance

Day 2Day 2

09:00 09:00 Detect credit card transaction in data warehouseDetect credit card transaction in data warehouse

13:0013:00 Sales lead directed to telemarketing team Sales lead directed to telemarketing team

12:0012:00 Complete prospect customer screening (compliance)Complete prospect customer screening (compliance)

Knowledge ManagementKnowledge Management

Operational KM

Operational KMOperational KM

“Customer Relati

onship Managem

ent”

Bank’sEK

Customers’ Experience(Customers’ )TK

Knowledge

in Action

Operational KMOperational KM

IT performance

Functionalities

System costs

Relevance

Adoption / Deployment

Return on Investment

Right questionWrong question

Knowledge ManagementKnowledge Management

Innovational KM

Innovational KMInnovational KM

Staff Innovation

Banks’ explicit knowledge

2004 2004 Innovating with Innovating with

CustomersCustomers

Insights & Ideas

Work Innovation for Service Excellence (WISE)

No. of WISE proposals in 2003 = 1,185

Innovational KMInnovational KM

Internal Customers

Marketing

ProductDevelopment

Communications

Sales Support

ServiceQuality

Innovation Innovation ＋ ＋ Dedication Dedication ＝＝

Innovational KMInnovational KM

Group Discussion Hotline Internet

Knowledge ManagementKnowledge Management

Practical Tips

RoadblocksRoadblocks

“Can’t do it, we have no resources.”

RoadblocksRoadblocks

“Don’t bother me with numbers.

Just give me a list of names to meet my quota.”

RoadblocksRoadblocks

“We have got tons of fire fighting everyday,

there’s no luxury for innovation.”

Practical TipsPractical 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.

Practical TipsPractical Tips

Innovational KM

Operational KM Analytical KM

Customer Experienc

e

Insights

Analytics

Thank You !Thank You !