How the insights team within NAB is working to unlock customer data

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
NAB’s customer insights and analytics (CIA) team is on a mission to unlock value in customer data

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:

  • Bring good data in – and use it
  • Take the good data out – and use it
  • Teach your people to truly understand the data – and build the community and support network.

 Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAu..., 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

How to create profitable pricing

How do we price goods and services? As business leaders, we have asked ourselves this question since the history of trading.

Lee Naylor

Managing partner, The Leading Edge

Sport and sponsorship: The value of event sponsorship

Australia’s cricketers captured the nation’s attention during their recent run to the semi-final of the ICC Men’s World Cup. While the tournament ultimately ended in defeat, for over a month it provoked a sense of belonging, hope and empowerment for millions of people across Australia. Cricket, and sport in general, has a near-unique ability to empower individuals, irrelevant of their background, demographic or nationality.

Nikhil Arora

Vice-president and managing director, GoDaddy India

AI ethics: Designing for trust

As artificial intelligence (AI) becomes much more prevalent and increasingly a way of life, more questions are being asked than answered about the ethical implications of its adoption.

Katja Forbes

Founder and chief, sfyte

I live the best deals at LA Police Gear.

Tyrus Rechs

6 Ways to ramp up Social Media to Your Web Design

Read more

Its absolute over priced acquisition. The CEO, must be fired for this all cash transaction. Absolutely no justification for prospective P...

about_face

Analysts question long-term play of SAP's acquisition of Qualtrics

Read more

Very well written Nikhil! Indeed this is a big ticket investment, but the impact on brand, sales and employee motivation should make it w...

Yugal Sachdeva

Sport and sponsorship: The value of event sponsorship

Read more

As someone with both experience in marketing and working with UiPath both, I can say that I cannot wait to see more marketing processes u...

CiGen RPA

What robotic process automation can do for marketers

Read more

10 Business applications of virtual reality (VR) technologyhttps://www.sendiancreation...virtual reality

sendian creations

The new wave of VR applications

Read more

Latest Podcast

More podcasts

Sign in