efma sme conference
TRANSCRIPT
Do It For Me: Helping Small Businesses
Run their Business (Better)
MilanApril 3, 2014
The plan for todays talk…
o Our Business
o Small Business landscape
o The Opportunity for Banks
o Case Studies and Insights
BCSG introduction: Value Added Services
BCSG helps banks achieve improvements in acquisition, retention and customer engagement by
creating value added experiences and engagement for their SME customers
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• BCSG supports 200k+ SME bank customers with key business applications and solutions
• BCSG engages with SME banks across a complete spectrum of activities including proposition
development, distribution management and operational delivery.
• The directors of BCSG were previously in senior marketing and product positions at large banks
• Senior management have won multiple Financial Innovation Awards in current and previous roles
SME Bank Clients Include
� Solutions designed for each Banks individual goals
� Fully managed proposition, technical and support model
� Understanding of building solutions in complex regulatory, risk environments
� Proven SMB acquisition, retention & engagement increases for Banks
� 2011 Financial World Innovation Award
� 2013 Monarch Award for Most Innovative Industry Partner
Continuous innovationTrack record of deliveryEnd-to-End Engagement
� 75.3% of private sector businesses do not employ anyone beside the business owners
� 83% of SME employers are micro- businesses (0-9 employees),
� ‘No-employee’ businesses are fastest growing segment
Sources: Office for National Statistics, Department for Business, Innovation & Skills, Companies House
Non-employee Businesses: An Underserved Majority
Source: BCSG Research
Business is critical to livelihood
51% SBOs spend more than 51
hours/week working
76% want to run the business “as long as
I can”
What do you think is the biggest risk to
the success of your business?
Non-employee Businesses: What We Know
How much time per week do you spend on
administration, specifically financial, legal, HR
and other non-core tasks?
…and time is a scarce, valued resource
Source: Seven Hills/ Intuit research
Recurring Themes of Customer Needs
Managing My Cash Flow
Added layer of insight on top of online banking
Save Time Doing Admin: Easy syncing
Running My Business: Turn Data to Insight
• Understand local trends
• See how I stack up
Getting New Customers
• Search engine marketing:
• Social media: create a business page and advertisement
on Facebook
• Direct mail: set up a direct mail campaign to market to
prospective customers
• Search engine optimization
DIFM Website Thrive online
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Build a deeper profile and deepen the relationship
Embed the bank in business operational flows to create customer insight and targeted messaging
Do you need to collect
payments online?
Build a website
General employment contract Do you need a payroll service?
Trigger Communication
Book
Keeping
www
Training
Planning
etc.
Your employee handbook has
been updated.
Business logic /
comms engine
My opinion of my
bank has definitely
improved…
it is an invaluable tool
for me as a small
business
“
”
Andy Lawson, Borough Market, marketstall
holder
Offering these services has a positive impact on the customer perception of the bank as it demonstrates they understand small businesses.
82% of customers
report that the solution
improves satisfaction
with their bank
Customers who
subscribe to the
platform are 20% more
willing to recommend
their provider to other
business owners.
Customers who took VAS had a 18% lower
failure rate in their first 3 years of
operations
Improved acquisition
Deeper relationshipsBetter customers
More (and Better) Customers
