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 newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments
cmo-xs-promo

Latest Videos

More Videos

Undoubtedly, Robotic Process Automation enables marketing teams to accomplish repetitive tasks with fewer resources at a great accuracy.

Raj

What marketers need to know about robotic process automation

Read more

who wants to date me I am 9 years old and i am a boy

Jeremy Hawkins

Sink a sub gaming experience signals Subway's renewed brand push

Read more

Great read. I agree that it should be a perfect balance between interacting with your customers and knowing your brand. As a business, yo...

Caroline Scott

7 ways CMOs can improve their customer engagement game

Read more

Very true. Team development helps improve collaboration among the team members. I was able to improve my team's collaboration skills by t...

Quent Sinder

Why empowering others can help make you a great leader

Read more

CRM is a very good software that can help you succeed in your business. In my company, this system has allowed me to improve customer rel...

Anna Janicka

Sensis rebrands to Thryv and brings business software to Australian SMBs

Read more

Blog Posts

Unboxing 101 - How savvy influencer engagement can build a brand

The humble unboxing video is a powerful tool. Correctly executed, it harnesses consumer fandom, viral authenticity and brand design magic to deliver a high-impact message to a tightly targeted cohort of consumers.

Gali Arnon

Chief marketing officer, Fiverr

​Power to the people

Purpose is the ultimate statement of intent for many organisations. Why are we here? What are we trying to achieve?

Rich Curtis

CEO, FutureBrand A/NZ

The playbook to develop strategic brand moats

Warren Buffet is an unlikely ally for marketers. But his belief businesses need strategic moats that increase their value in the market while acting as barriers to competitors can offer marketers a new playbook for brand building and driving growth.

Fabian Di Marco

Founder and managing director, Tzu & Co

Sign in