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

Blog Posts

Using artificial intelligence to surprise your customers

​We have expected artificial intelligence (AI) will become part of our everyday lives for quite some time.

Katja Forbes

Founder and chief, sfyte

Is customer segmentation dead?

Ginni Rometty, the CEO of IBM, announced the death of customer segmentation five years ago saying, "The shift is to go from the segment to the individual. She might have been a bit premature for most marketers, but if customer segmentation isn't dead yet, it's definitely on life support.

Richard Taylor

Senior digital strategist, Spinach

How people buy brands

Andrew Ehrenberg was a giant in the field of marketing science. He believed scientific methods could reveal law-like patterns of how people buy. In this post, I summarise one of Ehrenberg’s most important discoveries and its implications on how people buy brands.

Kyle Ross

Strategist, TRP

What a great article. Thanks for sharing. Today Digital Marketing is the basic need for a business to survive. As online presence is very...

Ecomsolver Private Limited

Want to master digital transformation? Stop thinking about your own problems

Read more

Feeling grateful that customer led digital transformation could improve business and generate more business growth. Many companies are no...

Lilly Lawrence

How a customer-led digital transformation has helped this CMO generate $6m in incremental business

Read more

If a business games me happy than there is a higher chance I will go to them.

Martinez

The Iconic: becoming customer-focussed transformed our business

Read more

That’s a great example of surprising AR ad that went viral because it was first of its kind. Probably a similar effect to some scale can ...

Natasha Kvitka

Using artificial intelligence to surprise your customers

Read more

Hey there! it is a really meaningful post. I too have written a few similar articles about SEM, SEO, Social Media, Digital Marketing Tren...

Rohit

Digital advertising continues to dominate marketing budgets

Read more

Latest Podcast

More podcasts

Sign in