Kevin Rosenfeld, Senior Vice President and Head of Business Intelligence at Alliance Bernstein, presented on their journey to mobile with key insights.
Goal: find tends within Alliance Bernstein and get them to the right people
This will walk through the AB Simon application. What it is and some tips or aha moments.
Key Features:
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- Read and Write to Salesforce
- Integrate to 3rd party data sources
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AB purchases a lot of data from 3rd parties.- Connect it or integrate it smoothly. Make it part of the whole. It may look like it’s CRM data.
- Content Library:bring in all the information about key topics
- Self-Service Intelligence
- Give users the ability to get answers themselves
- Unintended consequence: change their thought process around data. Once they got access to the data, they then wanted to share it with others. It’s hard to get Sales excited about technology but that wasn’t the case with AB Simon
Life Before Simon
Used to send all this information to Sales in email. Data came via email from a lot of sources.
- Linked In
- Morgan Stanley
- UBS
- LPL Financial
- Salesforce
- MicroStrategy
- Range of other internal client data source
Opportunity
This became an opportunity to centralize the data and get it right.
- Centralization of data makes it easy to access the most important data
- SSO to one application (via fingerprint)
- Customized around ABs business
- Do it in mobile
Simon wanted to be:
- Easy to access
- Simple to use
- Available anytime and anywhere
- Accurate data
- Actionable Insights
- In other words, they wanted to be like the weather app
- Data comes from a wide range of sources
- consolidates it all
- Makes it easy to interpret the data
- Relevant and actionable information
The Journey
- Took this and presented it. Got a lot of people who loved the idea
- Business proposal showed the value
- Had a hard time getting a check
The solution: Had to build something with them first. In partnership with MicroStrategy they built a POC app. It changed the game. They wanted it and were willing to fund it.
Aha Moment: Need to give your users something to touch
Constructing the Team
- Gained Executive Sponsors
- Created Advisory Council
- Worked hard with sales folks to get an idea of what they needed. This app needed to be theirs
- Got the IT folks in line
- Found MicroStrategy expertise in Perficient
- This was key. Needed both skills and capacity
Timeline
- Start in September 2016
- Wireframe prototype by March 2017
- Pilot launched in August 2017
- Simon live in October 2017
Lesson Learned: unless you are prepared to do this in house, just get someone else to do it.
Results
Enhance Data Entry: The approach was that any data entered gave you something in return.
- 68 of meetings are entered in advance vs 22% pre-simon
- Meetings are entered on average 5 days prior to the meeting. Pre-Simon average was 9 days post meeting
Increase Operating Efficiencies
- Eliminated one hour per day of admin work. Resulting in a 10% increase in client engagement activities
- External have increased activity with Focus FA’s (58% of total sales)
- Utilization of Marketing content and 3rd party purchased data has increased exponentially
Improved Sales Results
- YoY sales conversion rate increased 6%
- Average meeting impact increased 7%
- Tier 1 Simon users average YTD sales increased 3X more than tier 2 and tier 3 users
Continued Maturation of SIMON
Realized Benefits
- Improved engagement success rates
- enriched quality of data being recorded
- Maximizwd ROI of data and content
- Optimized territory management
- Enhanced data consumption and distribution methods
Planned Enhancements
- Auto meeting scheduler
- Location based digital marketing
- Predictive leads
- Personalized user experience
- Enhanced visualization capabilities
- Pro-active alerts
And Beyond
- IloT
- AI
- Machine Learning
- Virtual / Augmented reality
- Big Data
