Bradesco is among the five largest banks in Brazil, operating in a highly competitive market—and marketing and CRM director Márcio Parizotto believes providing a personalized customer experience is key to standing out from competitors.
He also believes that in today’s world, becoming customer-centric requires focusing on and investing in digital technology. The bank has made plenty of progress on that front, with more than 26 million account holders, 60 different websites, and 95% of transactions already performed on digital channels.
But internally, the bank faces the challenge of designing strategies centered on bringing marketing and technology together, Parizotto reveals in this interview with CMO.com.
CMO.com: In an aggressive market like finance, how can a bank differentiate itself from competitors?
Parizotto: First of all, we must adopt a truly customer-centric approach to [the customer’s] life journey and aspirations. The product loses prominence, and the omnichannel vision becomes a must-have.
In addition, it is increasingly necessary to combine traditional advertising with a vast repertoire of possibilities for brand interaction that the digital world offers, with much greater wealth of data and tools. And above all, [we must] preserve the human touch that gives credibility that any relationship in the financial sector demands.
CMO.com: How does data already available in all areas of Bradesco connect to modern analytics tools to transform the bank’s customer experience?
Parizotto: Our CRM is within the marketing structure, and this is very relevant from a strategic point of view, since it is possible to have data analysis side by side with communication planning. In a bank with our market share, open communication is very important, but we also need to speak directly with our audience, which marketing knows so well.
CRM has a tool that centralizes the customer registration and customer relationship information that is used to develop the database, the CRM “intelligence.” Based on this information, strategic actions are elaborated in different service channels to the bank’s customers.
In addition to working with programmatic performance media, CRM tracks the history, registration, and behavior of customers and noncustomers on social networks. The bank also has the Personas project, which has psychographic, behavioral, and attitudinal characteristics mapped throughout its base of 26.1 million account holders, designated by CRM but already enveloped with personalized communication features. This is done by stratifying and individualizing the approach.
CMO.com: In action, how do you manage the different bank channels for the experience to have drive and customization?
Parizotto: This is possible with the technology that allows us to map all contact with the client in the different service channels. This data is stored and used to identify the customer’s consumption and behavior profile. With this information, it is possible to structure the actions so that the client has the best experience with the bank, regardless of the channel.
The advantages of employing these technologies are, first and foremost, the speed with which one can capture, treat the data, and transform it into information. Next is the speed of decision making, and finally, greater relevance in the contact with the client.
CMO.com: Has the profile of a marketing professional changed because of digital?
Parizotto: The speed of the changes and the answers we need to give to customers is very great. That’s why marketing needs more and more dynamic professionals.
Teams must know how to work in an integrated way—online, offline, with product areas, services, and segments. Everyone needs to be able to read the information and reflect it very quickly and assertively in the strategy. Teams that have this perception of the consumer will certainly be ahead of their competitors.