How Mercer is using data analytics and insights to better engage customers

Superannuation fund details its work to pool together all of its customer insights into a data-driven platform

data analytics
data analytics

A data-driven analytics platform is giving superannuation group, Mercer, the ability to personalise and contextualise member engagement, driving significant marketing ROI as a result.

Mercer Edge went live in August and was 13 months in the making. The platform taps into the super fund’s wealth of data and provides an all-encompassing view of members, enabling advanced segmentation of member bases using geo-demographic, behavioural, value-based and psychographic modelling.

To do this, the company has pulled together information from its data warehouse, along with channel, third-party and other unstructured data sources, such as customer enquiries.

The platform now provides all parts of the business, and Mercer’s superannuation partners, with a clear and accurate picture of individual customer activity, as well as insights into trends and reporting on member behaviour via data visualisations. Mercer Edge also uses predictive algorithms to project future consumer behaviour and lead scoring.

In addition, the platform measures member satisfaction and retirement readiness using Mercer’s custom-built Retirement Readiness Index. Funds can then use this information to help members take actions now that could improve their retirement savings long-term.

Mercer consumer marketing leader for the Pacific region, Cambell Holt, is the platform owner for the project. He told CMO the consumer analytics and insights team was responsible for its launch, in conjunction with its consumer marketing team.

The group’s chief customer officer, Renee McGowan, devised and led the ground-up development of the platform.

Holt said the near real-time data delivery from Mercer Edge to consumer channels, such as the call centre and digital platforms, is helping ensure the right message and right content is delivered to the right audience in highly targeted marketing campaigns. And the group is seeing significant results and maximising returns on marketing and customer experience investments as a result.

As an example of its success, Holt said a recent campaign to help Australians consolidate their superannuation accounts attained a 15 per cent overall response rate, exceeding the campaign sales objective by 43 per cent and delivering a 392 per cent ROI.

This type of result has since been replicated in other campaigns in both Australia and New Zealand, he said.

Getting to this single view of customer had its challenges, although Holt said many were operational issues rather than cultural ones. The project also required collaboration across a broad range of functions and stakeholders in order to deliver a complete and interactive view of customer insights.

“Big data and predictive analytics is really hard,” he commented. “Mercer Edge delivers real-time insights from billions of data points to the desktops of marketing and strategy teams, as well as making this insight available in real-time at scale across the enterprise to many other customer technology platforms in support of delivering next-generation customer experience.”

The work comes after Mercer opted to unite marketing and all of its customer service channels under McGowan as part of a group Customer Transformation strategy.

Renee McGowan was selected as one of the top 10 innovative marketing leaders in our inaugural CMO50 for 2015. You can read her insights into the role of customer-led marketer, and how she is spearheading Mercer’s digital and customer transformation, in our CMO50 portal.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

Top tips to uncovering consumer insights for business innovation

An in-depth understanding of consumers sits at the heart of what we all need to do, but we know it’s not always easy to uncover insights that will unlock a true innovation opportunity.

Matt Whale

Managing director, How To Impact

Is your customer experience program suffering bright shiny object syndrome?

You may have heard of ‘bright shiny object syndrome’. The term is used to describe new initiatives undertaken by organisations that either lack a strategic approach, or suffer from a failure to effectively implement.

Leveraging technology to stand out in the sea of sameness

The technology I'm talking about here is data and marketing automation. Current digital marketing methodology, much as it is practiced at Bluewolf, dictates the need for a strategy that does four things: Finds the right audience, uses the right channel, delivers the right content, and does all of that at the right time.

Eric Berridge

CEO and co-founder of Bluewolf, an IBM Company

Lead Management is very important part of the process. For anyone running Facebook Lead Ads I would recommend using this service.Get your...

Dirk Lo

How this fintech startup is improving content marketing and lead generation

Read more

I am agreeing with Mr. Tyron Hayes that a measured test-and-learn approach could be missing opportunities to not only better engage custo...

rush essay reviews

CMO interview: How Curtin University’s marketing chief is using test and learn to cope with complexity

Read more

Excellent!

Dr Sadasivan,US

Shakespeare shows data and creativity aren’t Montagues and Capulets

Read more

Great article! Agreed with all... Matthew Lerner, Deeps De Silva... When a company has a great product that solves customers needs, a gre...

James Tyler

Why marketers are embracing growth hacking techniques

Read more

Very good article, Social media analytics helps in problem identification. They can serve as an early warning system for negative custome...

BizVinu

Four ways to use social media to boost customer loyalty

Read more

Latest Podcast

More podcasts

Sign in