Bank of Ireland set to cash in with better marketing

New software will allow improvements in targeting of relevant customer information

Bank of Ireland wants to better target customers

Bank of Ireland is using new software to drive faster and more targeted marketing campaigns in a bid to stay ahead of competition and defend its customer base.

Ireland’s largest retail bank has chosen Unica Corporation’s Affinium enterprise marketing management (EMM) software to manage a 50 per cent increase in multi-channel marketing campaigns and help develop the bank’s customer-centric approach.

The software will allow the bank to increase delivery of relevant, targeted direct marketing campaigns across a number of channels including email, SMS, outbound telemarketing and direct mail. EMM will target, design, track and measure marketing campaigns as part of an initiative to centralise the bank’s customer contact and multi-channel marketing strategy.

Susan NiDhubhlaoich, manager of Bank of Ireland’s marketing data solution team, says the software will ensure customers receive more relevant and meaningful communication and offers.

‘We are facing competition, for example from UK banks that have entered the market and find our customer base attractive. The differentiator in a crowded market is enhancing the customer experience and a key enabler is better managing the customer interaction with the bank and ensuring co-ordination between channels,’ she said.

The main focus of the implementation will be supporting front-line staff.

‘We don’t want a customer to walk into one of our branches and be offered the same product they were offered the day before. The EMM software will help us tailor that interaction and keep site of what is happening from the customer’s point of view so the conversations they have with the bank will be event-based and meaningful to them as manned channels will be provided with a single view of the customer,’ said NiDhubhlaoich.

NiDhubhlaoich says the bank has evolved from product silos to a cust omer-centric, advice-led approach over the past five years and has invested in infrastructure to support this move.

‘The investment in our campaign management software is about 25 per cent of overall investment,’ she said.

‘Our top three criteria were functionality so campaigns can be generated more easily and effectively, confidence in the vendor’s financial stability and value for money.’

The tool will not necessarily generate more campaigns.

‘We identify what event we’re looking for and the tool will pick it up to help tailor campaigns, but it is not a numbers game. More campaigns does not necessarily mean more people targeted,’ said NiDhubhlaoich.