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The banking giant’s customer insights and analytics manager, Matthew Peters, reveals how marketers get the most out of their data analytics
NAB’s customer insights and analytics (CIA) team is on a mission to unlock value in customer data in order to provide more personalised and engaging experiences.
Speaking at the Adobe Symposium 2017 in Sydney, the bank’s CIA manager, Matthew Peters said the key is not only being able to gather your data, but also to have it integrated effectively internally within your systems like Adobe Cloud.
“Within banking, it’s difficult: You have tighter privacy and security issues, and the pressure to remain safe,” he told attendees. “You need to find a way to bring all your technologies together safely.”
Peters cited three key factors in leveraging data effectively: Ensuring you have really rich data to begin with, collecting behavioural data and putting it into your CRM, and importantly, enabling your people.
“Then you have that holy trinity of data,” he said. “Your teams need to know what that data means, understand how to use it and use the strongest tools consistently. That way, your competitive advantage is truly understanding the value of your data and what you can do with it.”
At NAB, Peters said the team uses Adobe Audience Manager to help uncover which products customers are applying for and look at specific segmented profile information.
“This way, we can more effectively target them on our website and on social media advertising,” he said.
When it comes to customer attributes in Adobe Analytics, Peters claimed it is one of the most underutilised features of the platform.
“It’s incredibly powerful, because what it allows you to do is to bring in all customer profile information into the Adobe Analytics environment, so when you’re looking into your insights and what your customers are doing, you can really break it down and see your customer though a closer lens,” he explained.
Something NAB did recently was looking at customers who took out mortgages, and started to delve into what was happening before their choice.
“We looked at the search words, the calculators, all the little things they were doing before making their decision,” he said. “The great thing about doing it with your own customer data is that you can see all of the channels – online and offline in the branch.
“Because it is in Adobe Analytics, it’s available to 500 users, which gives them insight into the customer journey. Then we can proactively create a more personalised experience when contacting each customer with the right offer or information.”
NAB’s holy trinity of data analytics:
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In this latest episode of our conversations over a cuppa with CMO, we catch up with the delightful Pip Arthur, Microsoft Australia's chief marketing officer and communications director, to talk about thinking differently, delivering on B2B connection in the crisis, brand purpose and marketing transformation.
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