Leading retail bank in Southeast Asia improves marketing efficiency with Meiro CDP

About the client

The client is one of the largest retail banks in Southeast Asia, which has a strong presence in Indonesia with over 1,200 branches and 17,000 ATMs nationwide, providing banking services to individuals and businesses alike. The bank offers a wide range of products and services, including savings and deposit accounts, credit cards, loans, and insurance, among others.?

The client has also been at the forefront of adopting digital technologies to enhance customer experience, launching a mobile banking app and Internet banking services. With a strong focus on customer satisfaction and innovative offerings, our client has been recognized as one of the most trusted banks in Indonesia.

Client’s challenges

The client was not only challenged by upcoming fintech rivals who are agile in offering alternative banking options through seamless digital experience but also by resetting consumers' expectations on speed and omnichannel experience. With a fragmented customer journey across online and offline touchpoints and across the client’s website ecosystem, the bank experienced challenges in understanding customers’ preferences and needs to optimize their experience and, all the while, complying with strict data & security regulations that the financial sector faces.

1. Data silos and fragmented customer identities

Identifying the customer journey across the client’s website ecosystem, business units, and other data sources and aggregating data into a single view of a customer was unavailable. Besides, collecting events in mobile applications and matching them with other sources of customer data was an issue.

As a result, customer data existed in silos; without a centralized data management system, the customer identity remained incomplete, making it difficult to track engagements and conversions across different channels and making the data available for activation by business users.

2. Inability to personalize experiences to customers and prospects

The aforementioned challenge of tracking customer journeys across various websites and digital touchpoints hindered the bank’s ability to personalize web and in-app experiences for customers and new leads. Without a 1st-party data solution in place, identifying and retargeting returning unauthenticated website visitors and prospects with personalized messages was unavailable.

3. Adherence to strict compliance and security regulations

Being in the financial sector, the bank was required to comply with strict data and security regulations, including the need for on-premise systems and storing customer data within Indonesia. Adopting MarTech solutions was complicated, as most do not comply with strict data & security regulations of the financial sector.

Solutions delivered by Meiro

1. Flexible hosting and customizable architecture

First of all, the CDP had to be hosted on-premise and behind a firewall to comply with data residency and data security requirements of the Indonesian Data Protection regulations.

Meiro built local storage between the bank’s general ledger containing especially sensitive data and CDP conforming to the bank’s security requirements.

2. Cross-domain tracking and consolidation of customer data

Meiro set up an ETL layer for data processing, data collection, transformation, and standardization required for the production of clean data. Meiro created a Digital Command Center over 3 mobile apps, websites, and an internal customer database, consolidating data from 15 sources to create unified customer profiles.

Then, Meiro unified transactional and behavioral customer data and made it available for activation and analytics by business users.?

Meiro set up an overview of all digital marketing activities for campaign reporting in 45 days. We aggregated reports from 13 activation channels (social media, performance ads, agencies, etc.).

3. Optimizing marketing efforts with personalized experiences

The sophisticated identity tracking brought by Meiro CDP made it possible to hyper-personalize content for and reengage with users even without knowing their PII data.?Personalized native web banners were set up aimed to target anonymous website visitors, collect their PII and convert them to leads.

Meiro treats the project as a managed service since the client’s marketing department doesn’t have in-house analysts. Meiro, as a consultant, created data-led digital marketing strategies and redesigned campaign logic, reporting, and benchmarking.

4. Identity resolution and single customer view

Meiro’s customized identity management for the client’s needs. This enabled tracking and matching customer profiles based on 1st-party Meiro SDK IDs and 3rd-party? such as FB Client ID, TradeDesk ID, Google Client ID, etc. This helped to consolidate cross-device and cross-channel data (online and offline) by stitching them with existing customer profiles.

After the holistic tracking system was in place, Meiro enabled visibility into the customer journey — the client’s team could now clearly see the exact level of customer engagement across different touchpoints and their stage in the marketing funnel. Business users could now leverage unified customer profiles for granular segmentation, personalized activation, and analytics.

To learn how Meiro Customer Data Platform can help you improve campaign performance, profitability of your email marketing, and lift Customer Lifetime Value (CLV), schedule a live demo with our team of experts ?? https://bit.ly/463qndB