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Knowledge Management for Actionable Sales and Marketing Strategies Haily Chow Senior Knowledge Management Manager 18 November 2004
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Agenda Overview Analytical KM Operational KM Innovational KM Practical Tips
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Overview Knowledge Management
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Overview Tacit Knowledge TK Explicit Knowledge EK External Stakeholders Internal Stakeholders Bank TK EK TK EK TK
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Overview Limbs Movement Stomach Digestion Brain Perception Innovational KM Analytical KM Operational KM
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Analytical KM Knowledge Management
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Analytical 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
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Analytical KM Typical example… For whom and what? Customer Intelligence … Who?What? How much? Where?When?
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Analytical KM New thought … Timeliness Instant detection of sales opportunity “What I’m in mood to buy today, I may not even think about tomorrow.” Crossroad Group.
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Analytical KM Just-in-time selling … Day 1 10:00 Mr Wong paid down-payment with credit card 09:30 Trigger sales signal for mortgage and home insurance Day 2 09:00 Detect credit card transaction in data warehouse 13:00Sales lead directed to telemarketing team 12:00Complete prospect customer screening (compliance)
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Knowledge Management Operational KM
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“Customer Relationship Management” Bank’s EK Customers’ Experience (Customers’ ) TK Knowledge in Action
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Operational KM IT performance Functionalities System costs Relevance Adoption / Deployment Return on Investment Right questionWrong question
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Knowledge Management Innovational KM
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Staff Innovation Banks’ explicit knowledge 2004 Innovating with Customers Insights & Ideas Work Innovation for Service Excellence (WISE) No. of WISE proposals in 2003 = 1,185
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Innovational KM Internal Customers Marketing Product Development Communications Sales Support Service Quality
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Innovation + Dedication = Innovational KM Group Discussion HotlineInternet
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Knowledge Management Practical Tips
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Roadblocks “Can’t do it, we have no resources.”
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Roadblocks “Don’t bother me with numbers. Just give me a list of names to meet my quota.”
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Roadblocks “We have got tons of fire fighting everyday, there’s no luxury for innovation.”
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Practical 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.
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Practical Tips Innovational KM Operational KM Analytical KM Customer Experience Insights Analytics
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Thank You !
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