National Bank of Canada: Data-Based Decisions Boost Conversions
National Bank of Canada wants to improve its customer engagement to reach customers across Canada, especially in areas where the bank doesn’t have physical branches. To support its efforts, the bank is taking a keener look at each customer’s data so that it can deliver experiences according to individual preferences. The strategy is paying off through improved customer acquisition and retention and lower marketing costs. Adobe Experience Cloud is at the center of National Bank’s success.
“Working with Adobe was a key aspect of our digital transformation for National Bank,” says Eboni Boicel, Head of Digital Marketing, National Bank of Canada. “We’ve grown the digital marketing team, and insights from Adobe Experience Cloud have resulted in solid conversion gains. Our goal is to continue the digital transformation to bring our knowledge into every area of business and push digital growth to the next level.”
National Bank used to develop digital experiences according to how it wanted to present its products to the public. Now, Adobe Experience Cloud is helping the bank deliver information customers seek in the time, place, and manner that is most relevant to the customers. This data-driven strategy focuses on finding out what customers need and want using multiple sources of data, and then examining that data for patterns.
Solutions including Adobe Analytics and Adobe Audience Manager in Adobe Analytics Cloud and Adobe Experience Manager and Adobe Target in Adobe Marketing Cloud, and Adobe Advertising Cloud, all part of Adobe Experience Cloud, are driving key business results. Time to market for website updates has decreased and experience testing helps improve conversion funnel performance.
National Bank also uses the Adobe Marketing Cloud ID to track customer behaviors across channels and solutions, which is helping identify high-value audiences. By activating these high value segments in Adobe Target, the bank is delivering personalized offers.
“Introducing Adobe Audience Manager as our DMP has kicked off such a rapid change in our culture,” says Boicel. “Everyone is excited about how we can use audiences and personalization to better reach our customers. We’re seeing huge gains and decreasing cost-per-optimization by 30%.”
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