Four Ways Westpac Is Engaging With The Digitally Savvy Customer

Four Ways Westpac Is Engaging With The Digitally Savvy Customer
SHARE
THIS



Ahead of The Debate at MAD Week, Elaine Herlihy, Head of Marketing & Brand at Westpac explores the five fundamentals of the digital customer and the strategies Westpac is using to engage the digital customer now and moving forward into the future.

1. Using all channels to build an open dialogue and strengthen customer relationships

We are using all channels – Social Media channels such as Facebook, Twitter, LinkedIn, as well as many other 1:1 and Group check-ins with customers to see how they are thinking and feeling. Listening and interaction is core to all our CVP work, which in turn decides our offers, our customer experience and informs our creative execution.

For example, in our new Emergency Cash product, because we have talked in depth to people about what happens when they lose their wallet, we understand the emotion around this – it’s not just the physical inconvenience. There’s fear, frustration, potential embarrassment and vulnerability. That has led us to ensure that our customer speaks to a real person first, which helps to soothe emotions and frustration. Then we give our customer a secure code either on the phone or via the phone so they can access Emergency Cash to get them home, or help them pay for dinner, or whatever it is they need to do. All of this work – from proposition to experience, is underpinned by a deep understanding of emotion and experience, which you only get by being in constant open communication with your customers.

2. Listening to customer feedback

We listen to our customers in the digital channels as well as out of them. I believe this is where digital channels offer a great advantage because what you see on Twitter, Facebook, other social channels or on online forums and discussions is very real and instant, which sometimes makes it very uncomfortable. But we can distil the information to the core themes, so we know very quickly what’s really delighting or really annoying customers, and act on it. And we can easily keep hooked into every company that’s great at it and poor at it and see what they’re doing and their customers are saying about it.

We also use banker feedback, and customer boards as well as ongoing surveys such as NPS, to stay tapped into the feedback, needs and attitudes of our customers. There’s no substitute for an old-fashioned, honest, open and humble, face to face conversation.

3. Using insights to improve customer experience

For us it’s all about actionable insights. As a bank, we obviously have a lot of information, which we treat with great care because trust and security are of the highest priority to our customers and to us.

Our customers have told us they want proactive and relevant contact from us, i.e. to use the information we have on how they bank to make proactive, helpful suggestions that save them time or money. With our KnowMe CRM programme we’re doing just – e.g. via our secure Westpac Live online banking platform – so customers can just click and act on personalised suggestions. And our bankers also have these insights at their fingertips so when a customer is in branch or calls us, the banker can offer a helpful suggestion based on something we’ve identified in our data that we know the customer will be interested in hearing about, that has a genuine benefit to them.

4. Provide a meaningful experience

We want customers to stay because they have a great experience with our brand and love it enough to recommend it to their family and friends. I believe that the only way to keep and win customers in very competitive markets is to stay really close to what is meaningful to them. Innovation is really important – we need to keep improving and taking advantage of the best ways to do things – but innovation that means something to customers, not just what’s cool for the sake of it. Ask the “so what?” question all the time and continuously until you get to a meaningful answer. And if it’s not meaningful, don’t do it. For agencies, the same applies. The best work has meaning, based on a true human insight. Sustaining great quality work based on that is really challenging, but the great agencies, like our agency DDB, do just that and add the superb creative thinking as well.

Join Elaine Herlihy and other heavy-weight representatives from Australia’s biggest brands to discuss what the Customer of the future wants and how to best meet their expectations at The Debate taking place at MAD Week 2014.

With only one week to go until The Debate, limited tickets available. For registration enquiries please email enquiries@cirrusevents.com.au 

Latest News

adblock popup web banner concept. isolated vector
  • Opinion

How to reach the unreachables

In this opinion piece, Acast CEO Ross Adams (pictured below) discusses the fraught relationship between businesses and adblocking consumers, also known as, the unreachables. In a world of media saturation and shrinking attention spans, it’s increasingly difficult for marketers and advertisers to get cut-through in the ad-supported noise. Audiences are quick to press the skip […]

Opinion

by B&T Magazine

B&T Magazine
Sweeney Advertising Wins Five New Accounts, Adds Senior Staffer
  • Advertising
  • Marketing
  • Media

Sweeney Advertising Wins Five New Accounts, Adds Senior Staffer

Full-service boutique advertising agency Sweeney Advertising has announced five new business wins, adding $10 million in annualised billings. The agency’s new clients are real estate network Century 21, wealth creation and management company InvestSMART, online streamlined options trading platform HighLow, Japanese restaurant chain Sushi Hub, and swimming pool and accessories distributor Bestway Australia. Sweeny Advertising […]

Instagram Video: We Are Living In A Vertical World
  • Co-Lab

Instagram Video: We Are Living In A Vertical World

The way people record, share and replay their lives has changed dramatically since the advent of Facebook-owned Instagram. Once a place where only static, filtered photos could be uploaded, Instagram now offers photo and video uploads, shopping features, direct messaging and several other tools serving users and businesses. However, for Instagram head of business Jim Squires […]

by B&T Magazine

B&T Magazine
Yes! It’s Virtual Reality Demystified
  • Co-Lab

Yes! It’s Virtual Reality Demystified

Virtual Reality has been a staple of science fiction for some time, Though, in terms of real-life application, the world is still coming to grips with what the tool can offer us. In recent years, tech experts, doctors, medical students and videographers have used the tool as a way of exploring worlds not normally accessed in […]

by B&T Magazine

B&T Magazine
Facebook Messenger: The New Age Of Communications
  • Co-Lab

Facebook Messenger: The New Age Of Communications

The unparalleled success of Facebook-owned Messenger can be pinned down to its ear to the ground approach with users. Consistently listening to its user base of more than one billion, Messenger’s ability to stay not only on trend but well ahead of it has allowed the app to become a global tool for communication; be that […]

Industry Generates A Record $10.5m For Social Impact
  • Media

Industry Generates A Record $10.5m For Social Impact

UnLtd, the media, marketing and creative industry’s social purpose organisation has announced a total industry contribution of $10.5m to social impact in FY18. The total value of funds, services, inventory and time donated by the media, marketing and creative industry increased by 21per cent compared to the previous financial year due to a growth in […]

Women In Media Profile: Danni Wright
  • Media

Women In Media Profile: Danni Wright

We'd be headlining Danni Wright's Women in Media profile the "Wright stuff" if it wasn't utterly predictable and naff.

by B&T Magazine

B&T Magazine
Posterscope Promotes Two
  • Media

Posterscope Promotes Two

Posterscope, Dentsu Aegis Network’s specialist out-of-home agency, has promoted Ryan Hedditch to the newly created position of national head of strategy and Samantha Summers to Sydney Group Business Director. In his new role, Hedditch is charged with driving the continual improvement and transformation of the Posterscope offering to clients and partners. Summers’ promotion will see her lead […]

Outbrain Accelerates Growth With APAC Promotions
  • Media

Outbrain Accelerates Growth With APAC Promotions

Native discovery platformOutbrain has announced several movements in its regional leadership team, with plans to make more new hires. This comes on the heels of two senior appointments it made in February, after closing a record year in the region with expansion into new markets. Yoav Tourel has been promoted to head of sales for […]

Clems Syd & Extra GUM Unveil YouTube Digital Stage
  • Media

Clems Syd & Extra GUM Unveil YouTube Digital Stage

YouTube EXTRA Gum has launched EXTRA Support Acts, a program created to support Australia’s up and coming musicians by transforming pre-roll ads on YouTube into a digital support stage. It has been created in partnership with Clemenger BBDO Sydney as creative lead, Universal Music Australia and BRING for talent and music strategy and content, MediaCom and YouTube. The […]

OMD Australia Tops 2018 RECMA Rankings
  • Media

OMD Australia Tops 2018 RECMA Rankings

OMD Australia has taken the top spot for Australia’s Number 1 media agency in size, according to RECMA’s 2018 ‘Overall Activity Volume Rankings’ report released last week. Additionally, the company was named first in profile classification with a dominant profile for the 3rd consecutive year, along with vitality ranking and structure ranking. Furthermore, OMD Australia was also named […]

Red Agency Bolsters Sydney Team
  • Media

Red Agency Bolsters Sydney Team

Judging by the image, it seems Red Agency may have had no staff whatsoever prior to this hiring spree.

Nine Appoints Editor For 9Honey
  • Media

Nine Appoints Editor For 9Honey

B&T's editor coincidentally spilled honey on his shirt while typing this. And by typing, we mean copy and pasting.

Y&R Sydney Scores Best&Less   
  • Advertising
  • Media

Y&R Sydney Scores Best&Less  

Y&R wins Best&Less amid rumours the clothing shop its changing name to 'Somewhat OK&Reasonably cheap'.

Women In Media Profile: Judy Sahay
  • Media

Women In Media Profile: Judy Sahay

B&T's Women in Media profiles are like a wave washing over you. Even more so if an actual wave washes over you.

by B&T Magazine

B&T Magazine
How B2B Companies Can Use Their Customer Data More Effectively (And Why They Need To)
  • Marketing
  • Opinion

How B2B Companies Can Use Their Customer Data More Effectively (And Why They Need To)

In this opinion piece, SalesPreso co-founder and CMO Joel Thomson (pictured below) explains how B2B companies can use their data more effectively and deliver a personalised customer experience that matches their B2C counterparts. From the Cambridge Analytica scandal to the EU’s recent GDPR legislation, this year has prompted individuals all over the world to consider […]

Opinion

by B&T Magazine

B&T Magazine
M&C Saatchi Launches THIS Film Studio
  • Advertising
  • Marketing
  • Media

M&C Saatchi Launches THIS Film Studio

Not one to rest on its laurels, M&C Saatchi unveils new production studio it hasn't called 'Not One To Rest On Laurels'.