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Nedbank Uses Enterprise Marketing Management Platform from Aprimo to Enhance Customer Communications and Experience

  • August 01 2004, 1:00am EDT
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With $25 billion in assets, Nedbank is South Africa's largest banking group. Based in Johannesburg, with nearly a dozen subsidiaries, our retail banks serve a diverse array of customers.

Our campaigns target hundreds of thousands of customers with specific offerings based on their profiles and histories. New products and services are offered across all channels, and we drive these efforts and manage all customer and prospect information. As a result, access to the latest information is critical to ensure the right offers are sent at the right time.

We were unable to scale our marketing efforts to communicate with a steadily growing customer base. A pending merger with another South African bank fueled this growth. More marketing campaigns were required, and campaign management was becoming increasingly difficult.

We were not consistently tracking what campaigns were being implemented or which customers were being contacted. Balls were being dropped, marketing funds were being wasted and results were being impacted. We realized we needed a marketing technology solution that could scale with our growth, allowing us to market efficiently and effectively across our bank brands, while tracking all of this activity at a customer/prospect level. We also needed to share this information in real time with our sales force.

We selected all seven Web-based software modules of the Aprimo Marketing platform to address these challenges. We first implemented Aprimo Marketing's Demand Creation suite, including Aprimo's Customer Dialogue Management and Lead Management products.

In 2001, we were rebranding our subsidiary, Permanent Bank, due to a joint venture with a life insurance company. As a result of this joint venture, Permanent Bank's network of 85 branches was being consolidated to 46 branches.

We took an aggressive approach in setting the targets for this initiative's success. We wanted to surpass a previous customer retention program that retained 80 percent of our target audience without the benefit of this technology enablement. We raised Permanent Bank's goal to 90 percent.

We used Aprimo's Customer Dialogue Management products to segment our Permanent Bank customers into three areas: unaffected customers, customers moving to a new branch and customers moving to a new Nedbank brand.

The appropriate customer contact and campaign information was disseminated to the respective bank branch sales team through Aprimo Marketing, including multistep follow-up communications. The branch employees who received the data from Aprimo were so pleased with the campaign that they began to proactively ask for more "Aprimo leads," noting how user-friendly the systems is. Retail customer response has also been very positive. By reaching out to the customer on a personal basis, we are able to maintain strong customer relationships. In fact, of Permanent Bank's 32,755 customers initially contacted, 98.5 percent responded to the campaign. Of those respondents, 87 percent were rated as being happy customers.

By using Aprimo's Customer Dialogue Management products to automate our customer retention campaign, Permanent Bank retained 100 percent of its customers. This 20 percent margin over previous campaigns represents an additional $1 million in annual revenue for Nedbank.

After these positive results, we quickly identified another opportunity using the Enterprise Marketing Management (EMM) platform to improve lead generation in our mortgage finance business.

We realized our homeowners' life insurance underwriting business was offering sub-optimal advice to customers taking out mortgage loans larger than $30,000. We used Aprimo's Lead Management products to automate the process of getting customer leads to the financial planners and track the results by integrating Aprimo into the mortgage application workflow system.

Now, we automatically e-mail a form to a financial planner when a targeted home loan is approved. The outbound form provides all contact information to the financial planner, allowing him/her to conduct follow-up and schedule an appointment for cross-selling opportunities. Once contact has been made, the financial planner returns the linked inbound form with the latest customer data.

This has proven to be very effective lead management; in fact, 200 Nedbank financial planners handled 42,000 leads in six months. As a result of this new process, our financial planners were realizing $900,000 in additional revenue annually.

Aprimo Marketing's Demand Creation has been used to reach more than 277,000 customers to date. This represents 500 different messages targeted, segmented and delivered through 48 different customer interactions.

As Nedbank grows, our local customer relationships become increasingly important to our success - and increasingly difficult to maintain. Despite these challenges, Aprimo's EMM solution has allowed us to break through our customer communications ceiling to create better customer relationships and realize impressive results.

Our comprehensive view of our marketing plan, our concrete goals for the future and the help of Aprimo guided us to a desirable ROI.

Aprimo Marketing Platform - Customer Dialogue Management: Segmentation, campaign management, e-mail and multichannel dialogue management. Lead Management: Lead qualification, incubation, assignment and management processes, with integration to sales force automation. Event Management: Manage event logistics and automate event communications. Planning and Financial Management:Production Management: Campaign proposal creation, review and approval, budget creation and expense management. Workflow and project management, vendor management, online creative review, and digital asset management.

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