Beyond Basic Clickstream Analytics

August 17, 2020

5th Largest Bank in USA

Problem Statement

• With customers adopting more channels to interact with the bank a 360degree view of the customer is the need of the hour
• There are multiple sources of data in a banking scenario, with the volume being very high.
• The data sources are not homogenous in nature, some are legacy systems some online channels some offline channels etc.

Analytics Led Approach

• Considering data Storage, retrieval and query processing time for online – offline data integration Adobe Insight was found to be the better suited as the solution
• Integration of the non homogenous data sources: :with Adobe Insight integrate online and offline data
• Online Analytics – Adobe Site Catalyst
• Target Marketing & Offer Management – Adobe Test & Target
• Multi-Channel Analytics – Adobe Insight
• Recognizing customers using common key across multiple channels and storing Analytics data on a Cloud in a secured way
• Building unified online & offline data store
• Building Personalization through segment identification and content /marketing relevance

Business Impact

• Leads analysis, path analysis, particular campaign analysis
• Increased product adoption due to Cross sell & Upsell
• Increased ability to examine the effectiveness of campaigns across channels , ultimately affecting the conversion and revenue impact of cross-channel campaigns 
• Insight is able to provide customer segment exports to targeting platform Adobe Test & Target
• increased effectiveness in customer targeting,
• upsell & cross selling campaigns optimized
• Insights on customer segment buying behavior

Critical Success Factors

• Insight provides 1k leads per hour to the Salesforce team for lead tracking: based on abandonment from web
• Benefits to the Bank as highlighted in the Forrester Research paper
• Achieved risk-adjusted 3 year ROI of 25%.
• Reached break-even on the investment within one year
• 10.5% increase in NPV due to changes based on A/B testing