Digitally-empowered consumers are changing how banks communicate, interact, and acquire customers. A material opportunity exists to engage with a relevance and frequency that was previously not possible — and there is a risk for banks who do not capitalize on this opportunity. Citizen’s Bank moved from a product-centric to a customer-centric marketing organization through data, analytics, and digital technology to expand the reach and deliver personalized customer experiences

1. Citizens Bank Case Study: Moving
from One-to-Many to One-to-One
Customer Experiences
June 28, 2017
1
Sponsored By:

2. Today’s presenters
Kristine Prybyla
Sr. Vice President,
Director of Digital Marketing
and User Experience
Avery Faeth
Sr. Account Manager,
Client Engagement
Sunil Rao
VP,
Audience Analytics

3. Citizens Bank
Case Study:
Moving from
One-to-Many
to One-to-One
Customer
Experiences
Citizens Bank: Who we are
3
Testing into addressability
Future vision and next steps

4. Citizens Bank
Case Study:
Moving from
One-to-Many
to One-to-One
Customer
Experiences
Citizens Bank: Who we are
4
Testing into addressability
Future vision and next steps

5. Citizens Bank overview
5
Our Company
Total Assets Deposits
Branches ATMs
$150.3billion
$112.1billion
1,200 3,200
as of Mar. 31, 2017 numbers from the current About Us

6. Citizens Bank serves 5 million+ individuals, institutions and
companies
6
Employ 17,500 colleagues
Retail Presence in 11 States
Rochester, NY
Boston, MA
Providence, RI
Manchester, NH
Albany, NY:
Buffalo,
NY:
Pittsburgh, PA:
Cleveland, OH:
Philadelphia, PA
Detroit,
MI
• #12 in assets ($150.3B)
• #12 in Deposits ($112.1B)
• #11 in branches (1,200)
• #7 in ATMS (3,200)
Competitive positioning
as of March 31, 2017

7. Citizens’ priority marketing objectives
7
Improve the
customer experience
Grow digital contribution to
overall business sales
Shift from one-to-
many to one-to-one
Make more efficient
marketing
investments
Watch the full presentation at merkleinc.com

8. Citizens Bank
Case Study:
Moving from
One-to-Many
to One-to-One
Customer
Experiences
Citizens Bank: Who we are
8
Testing into addressability
Future vision and next steps

9. 9
Improve the
customer experience
Grow digital contribution to
overall business sales
Shift from 1:Many
to 1:1
Make more efficient
marketing
investments
It’s about
identity…

10. Moving to addressability: Solution overview
10
1
Ingest Data from first-, second,
and third-party sources 2
Analyze data (manual &
automated/algorithmic) 3
Personalize, extend, and refine
messaging to responsive
audiences across channels
Decision
engine
Site & in-app
personalization
RLSA
Paid search
targeting
Ad
server
DSP/ ad
Network
Digital media
targetingAudience SyndicationDMP Data Inputs
Third-party
cookie data
Second-party
media data
First-party
data
DMP
ESP Email triggering
Watch the full presentation at merkleinc.com

11. Citizens & Merkle: United by strategy and technology
11
Data Management Platform (DMP) technology enables the first stages of addressability by
providing an anonymized view of the individual
Pre - DMP DMP
ExecutionExecution
D M P
First-party
Data
Second-party
Data
Search Call
Center
Paid
Social
Online
Ads
Website/
Mobile
App
Messaging
(Email/SMS/
DM)
First-party
Data
Second-party
Data
Third-party
Data Third-party Data
Search Paid
Social
Online
Ads
Website/
Mobile App
Messaging
(Email/SMS/
DM)
Watch the full presentation at merkleinc.com

12. Right messaging, right audience, and right time
12
Product-centric marketing
One-to-Many
Consumer-centric marketing
One-to-One
Before Data Management Platform
& Digital Addressability
Age 25-34
Boston
Buying home
Checking
Savings
Credit Card
Mortgage
Wealth
HELOC
Digital
person
With Data Management
Platform (DMP)
Existing bank
customer
Ideal
prospect
Most relevant
message
Watch the full presentation at merkleinc.com

13. Personalization journey: From planning to implementation
13
Product-centric marketing
One-to-Many
Consumer-centric marketing
One-to-One
• Creative A/B & lift over control
testing
• Integrated CRM data to create cross
channel customer journey
• Piloted the first PBM campaign
2016
 Combo Audience performed 57%
stronger than BAU
 List-based campaign had a 90% higher
CTR than BAU
• Value-based 1:1 personalization
optimizes creative selection by user
stage and product (POE)
• Launched homepage site
personalization
2017
 6 BLs across EBD, student lending,
HELOC
 Random rotation of 12 creatives allows
for broader testing once POE is
deployed
2015
• Rules-based logic pre-
determines user experience
• Launched homepage
leaderboard personalization
 3-5 product offers per month
 Established benchmarks
LEADERBOARD
STATS
Watch the full presentation at merkleinc.com

14. Identify challenges to face them
Challenges
Siloed
Workstreams
Range of
Digital IQs
Securing
Budget
Security &
Privacy
Concerns
Company
Wide Buy-In
& Adoption
Watch the full presentation at merkleinc.com

15. Take action to drive addressability
Stepping stone solutions
Educate Identify Plan
 Educate across all levels of
data intelligence
 Set clear expectations,
outlining risks and
opportunities
 Executive level / Stakeholder
sponsorship
 Secure all required sign offs
 Commit to an overall testing
budget and plan (Citizens
developed COE Team)
 Determine measurement
foundation supported my
rigorous maintenance of data
 Outline clear and prioritized
roadmap
 Develop and socialize test &
learn plan
Watch the full presentation at merkleinc.com

16. Test: Audience segmentation through DMP
16
Product-centric marketing
One-to-Many
Make more
efficient marketing
investments
• Unique audience: DMP audiences were
75% net new reach
• More committed: Slightly higher
application complete rate
• Efficient media: Cost per application 77%
more efficient vs. all lower funnel
prospecting tactics excluding DMP
DMP LF prospecting tactics
excluding DMP
SL prospecting cost per application
77% Reduction
in CPA CPA
CPA
Used the DMP to build look-alike audiences modeled on online converters for
a Student Lending product.
Watch the full presentation at merkleinc.com

17. Test: Audience-based messaging through site personalization
Citizens saw positive conversion trends by uniting Citizens CRM list with
site personalization and connecting digital and offline interactions.
CTR Response
Lift Over Control
Baseline /
Control
97%
82%
HomepageTraffic
.Com Audience A/B Message
Improve the
customer experience
Checking BAUAll Other Visitors
Defined Platinum
Customer
Audience
Platinum
Invitation-
Courtney
Platinum
Invitation-
Michelle
Media Exposure
Shift from
1:Many to 1:1
Watch the full presentation at merkleinc.com

18. Test: Sequential messaging through DMP
18
Grow
digital contribution to
overall business sales
Knowing users traditionally converted in-branch, Citizens used the DMP to
facilitate a branch-like offer in the digital space
Personalized Homepage
Coupon Registration
Email Confirmation
Result
Web-based account
Opening Conversions
Contributed 1.5X More
than Typical Volume
New Account Opening
and Increased Deposits
Watch the full presentation at merkleinc.com

19. Citizens’ priority objective & campaign results
Grow digital contribution
to overall business sales
Shift from one-to-
many to one-to-one
Make more
efficient marketing
investments
Improve the
customer
experience
Digital conversions
contributed 1.5X
typical volume
People-based
marketing increased
engagement rates cross
channel
Cost per online
acquisition decreased
with net new
audiences
An experience aligned
with needs drove higher
conversion rates
DIGITAL
RESULTS
Watch the full presentation at merkleinc.com

20. Citizens Bank
Case Study:
Moving from
One-to-Many
to One-to-One
Customer
Experiences
Citizens Bank: Who we are
20
Testing into addressability
Future vision and next steps

21. Watch the full presentation
at merkleinc.com
21
Sponsored By: