Building communities online.
Raiffeisen increases conversions up to 300% with targeted messaging through Adobe Experience Cloud.
267
Dynamic custom website variations
Objectives
Provide the same customer experience for in-person, digital, and mobile customers
Reduce costs of multi-channel marketing and experiences
Deliver a customised, local website experience with greater efficiency
Results
300% increase in conversions with targeting
267 dynamic custom website variations
Optimised marketing with real-time insights
Fine-tuned campaigns from customer insights
“With Adobe Experience Cloud, we’re showing how investing in digital is an investment in the future of our company.”
Felix Wenger
Head Channel and Distribution (Retail and Affluent), Raiffeisen
150 years as a community leader
Since leading Swiss retail bank Raiffeisen was founded more than 150 years ago, it has been known for serving local communities. To its customers, the bank was more than just a faceless corporation; it was part of the village centre, supporting and working with all members of a community through its local branches. Today, people are more mobile than ever, leaving their villages behind to find work and build families across Switzerland. But Raiffeisen remains committed to furthering its reputation as the country’s local bank.
“Being part of the community is embedded in our DNA,” says Felix Wenger, Head Channel and Distribution (Retail and Affluent) at Raiffeisen. “Our customers no longer stay in their village for their whole lives, but they still want the local experience. We have to adapt and follow our customers wherever they go.”
Formed of more than 260 individual banks grouped as a corporation, Raiffeisen operates as a cooperative, which means its customers are also its owners. With over 930 locations throughout Switzerland, Raiffeisen serves about 3.7 million customers—a huge market share in a country with a population of just over 8 million. To defend its brand share, Raiffeisen needed to complement its focus on traditional, face-to-face interactions with digital channels that enhance the customer-advisor relationship.
As a cooperative, each of Raiffeisen’s branches operates independently and want to maintain control over their digital channels. Therefore, Raiffeisen needed a solution that could help maintain consistency with its corporate branding standards, without losing the local touch that keeps its banks as the cornerstones of their communities.
Raiffeisen decided to implement Adobe Experience Cloud solutions to strengthen its digital, multichannel initiatives while minimizing cost and complexity. Adobe Experience Manager and Adobe Target, part of Adobe Marketing Cloud, allow Raiffeisen to build highly relevant digital experiences, while Adobe Analytics, part of Adobe Analytics Cloud, provides real-time data to continually optimise digital performance.
One reason for selecting Adobe was its value chain of implementation partners. For Raiffeisen, partner Netcentric played a major role in helping the company harness the full power of Adobe solutions. “One of the main reasons we chose Adobe was because of its strong ecosystem of partners,” says Wenger. “With Netcentric, we have our partner of choice because they really understand our industry and our company and help us get the most out of our Adobe solutions.”
The Adobe solutions also boast strong open integrations, both with fellow Adobe Experience Cloud solutions and with any potential third-party solutions, which helps Raiffeisen maintain a seamless and easy-to-use workflow.
“Customers should feel the same connection with their advisor whether they’re sitting across from each other in a branch, interacting online, or talking on mobile devices,” says Wenger. “Adobe Experience Cloud is helping our business to become stronger by providing a local touch to customers everywhere.”
“Adobe Experience Manager is key to helping us create personal and local experiences for all customers while improving manageability and cost efficiencies”
Felix Wenger
Head Channel and Distribution (Retail and Affluent), Raiffeisen
Delivering 267 website variations
Raiffeisen customers expect a visit to a company website to be relevant and personal—to feel like a digital version of the quality Raiffeisen experiences they’re used to. Using Adobe Experience Manager as its new content management system, Raiffeisen redesigned its websites around the concept of a virtual village square. APIs feed third-party data into Adobe Experience Manager, allowing the bank to bring in custom information to dynamically create 267 different versions of the Raiffeisen website, serving each locality.
The customised websites open with pictures relevant to each community, such as a central plaza or a village church. Local offerings, such as concert tickets or ski passes, appear next to information about how the local bank is involved in the community. The client advisor page not only shows pictures and phone numbers for each local advisor, but it also pulls in a live Skype feed to show whether an advisor is available for a chat.
Using Experience Manager Sites and Experience Manager Assets, Raiffeisen delivers a flexible and scalable web content management model for its branches. A central marketing team at headquarters creates templates, components, and branded content that are uploaded to Adobe Experience Manager Assets, while the centralised IT team handles security and compliance issues, removing any such concerns from local teams.
Local branches author and manage content, adding local images, announcements, and information into the centralised DAM (Digital Asset Management system) to create local community experiences. If a local branch lacks the skills or resources to create its own content, the central team can easily extend its role to provide additional services such as creating graphics or setting up community pages through Experience Manager Sites.
“Adobe Experience Manager is key to helping us create personal and local experiences for all customers while improving manageability and cost efficiencies,” says Wenger. “Local branches have the flexibility to create their own experiences while leveraging the resources and branding of a larger banking organisation. This helps us remain a community bank in the digital age.”
“The beauty of Adobe Analytics is that the data offers value to all departments, from marketing and sales to IT operations. By reaching out to engage a customer through insights gained from Adobe Analytics, we’re seeing average conversion rates of up to 14%.”
Felix Wenger
Head Channel and Distribution (Retail and Affluent), Raiffeisen
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.”
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