Cathay United Bank uses Analytics as a timely, reliable data source for its Target implementation, enriching customer profiles with data to create customer segments. This allows the bank’s marketing team to direct tailored messages to distinct audience segments.
For example, some loan shoppers care mostly about interest rates. Others are more attracted by the size of the loan they can get, while others are more focused on how soon they can secure the loan products the bank offers. The personalization feature in Target tracks shopper responses to content on different bank web pages related to these topics, both for individuals and for the more general population.
“With Adobe Target, our marketing messages are more precisely tailored to each customer segment, enabling us to present offers that are attractive based on each customer’s online behavior and other key characteristics. We’ve seen our click rate double,” Chen says.
With a seamless view into customer experiences across channels and enhanced personalization, it’s no wonder Cathay United Bank has seen its website metrics improve. In the first year of adoption, the bank saw customer stickness improve and the retention rate increase up 20% while the bounce rate decreased by 45%. The bank attributes this success, including a 71% growth in visitors to its mobile banking app, to optimizing customer experiences with Experience Cloud apps.
Cathay United Bank has also prioritized Net Promoter Score (NPS) as a measure of customer satisfaction. Those numbers have risen impressively, by 12% for its mobile banking app and by 33% for its online banking website.
“The benefits of real-time, multichannel intelligence and personalization will continue to pay dividends for the bank over time.” says Chen.