Optimizing customer experiences
Working with Adobe Analytics, Raiffeisen gains better insight into customers by combining real-time website behaviour data with available customer and third-party data. Raiffeisen follows the customer journey across channels—website, email, direct mail, call centres, and in-person meetings with personal advisors—and nurtures the relationship at each stage. By uncovering potential areas of improvement, Raiffeisen continues to enhance customer experiences online and offline.
“The beauty of Adobe Analytics is that it delivers value to all departments, from marketing and sales to IT operations,” says Wenger. “We elevated the role of analytics in our organisation to demonstrate the importance of data insights in driving more personal customer experiences across channels. You’d normally only expect to see conversion rates of around 1%. By reaching out to engage a customer through insights gained from Adobe Analytics, we’re seeing average conversion rates of up to 14%.”
Often banks provide offers for new features or services as soon as customers log in, believing that customers want to engage immediately. But after using Adobe Analytics to analyse behavioural data from its 1.2 million e-banking customers, Raiffeisen found that the opposite was true. Customers wanted to get straight to their task when they logged in, not get bogged down by marketing messages. However, after logging out, customers were often more willing to explore options.
With this insight, Raiffeisen marketers set up AB tests using Adobe Target to discover what messages and offers resonated with different types of customers. Adobe Target activates the data and insights collected in Adobe Analytics, allowing marketers to react quickly and fine-tune campaigns as many as six times in just six weeks.
“Adobe helped us take the hype and complexity out of omni-channel marketing,” says Wenger. “By combining digital marketing such as email with targeted landing pages, we’re seeing a 300% increase in conversions, whether that’s coming to an event, signing up for a newsletter, or scheduling a meeting with an advisor.”
Next steps for Raiffeisen include adding Adobe Campaign, part of Adobe Marketing Cloud, to better coordinate online and offline marketing campaigns, as well as implementing Microsoft Dynamics. “Microsoft Dynamics is exactly what we’re looking for to manage online and offline leads in our back-end system and further improve marketing and sales activities,” says Wenger. “With Adobe Experience Cloud, we’re showing how investing in digital is an investing in the future of our company.”