Challenge: This major bank struggled with tracking its marketing performance across hundreds of marketing campaigns in a consistent manner, which was potentially leading to inefficiently optimized investment.

Solution: NAB uses Domo to track near-real-time paid marketing campaign performance and accurately compare its various marketing channels.

Impact: NAB has the transparency and access required to easily compare actual investment with budget, the business outcome, and its media buy efficiency.

Nab maximizes its marketing performance with the help of Domo.

As one of the largest banks in the country, NAB serves the financial needs of Australians and their businesses at home and around the globe. To communicate more effectively with existing customers and new prospects, NAB uses Domo to manage and track its marketing performance across different channels.

“We use Domo for all our marketing media measurement, which directly impacts our business performance,” said Bob Gatsis, head of marketing performance management at NAB. “We can now measure our marketing investment across all paid media channels and create visualizations for stakeholders at various level to generate optimization insights easily.”

Challenged by inconsistency

Each year, NAB’s three business units use dozens of marketing channels across hundreds of campaigns to reach millions of people. Every channel has its unique metrics, each campaign its own KPIs, and each business unit its own goals.

“We needed to improve the consistency with the way we measured or reported campaign performance, across different business unit and agency teams,” said Ferren Wang, senior consultant for marketing performance management at NAB. “There was no central repository of data, so each business unit had a very siloed view, with no easy and reliable way for the bank to understand its holistic performance.”

NAB works with an external media agency for buying and planning. Because the bank and the agency used a spreadsheet-driven process back in 2017, it would often take days to understand campaign performance, impacting their ability to optimize campaigns on the fly. “By the time we got results, it was often a week out of date. And because it was collected manually, the spreadsheet could easily have human errors,” Wang said.

Bringing all its data into a unified platform

With Domo, NAB can easily collect data from across every channel, campaign, and business unit into a single platform and then transform the data to compare performance across campaigns and media channels. This allows NAB to better understand and attribute how different tactics—such as TV, Radio, Outdoor, social media, search, etc —drive new signups, and customer retention.

“Domo’s dashboards provide complete visibility to all our stakeholders in a self-serve way,” Wang said. “All our marketers now have transparency into all our campaigns so they can learn from each other and share best practices.”

Because data is collected and shared in near-real time, NAB and its media agency can now easily shift the budget to top-performing media channels. Marketers can dig into the details of campaign performance at the granular level, confident that the data is accurate and fresh. Dashboards make it easy to track KPIs so everyone is on the same page.

“With Domo, we can govern and transform data across all the different platforms to create consistent metrics that let us easily compare actual investment with budget, business outcomes, and our media buy efficiency” Wang said.

“Domo makes it simple to connect more than 30 data sources, bring all our data together, transform it, and use it for reporting and measurement. Given how many data sources and channels we use today, I cannot see how we could do our jobs without Domo,” Gatsis said.

Unlocking dashboards and advanced modeling

NAB built a series of dashboards that allow stakeholders from across the business to access insights quickly.

The CMO has an executive dashboard to view marketing performance across each business unit, along with the bank’s overall investments across major channels such as search, social, programmatic, etc. Senior executives have their own dashboards that provide deeper insight into specific business segments or products, such as mortgages or business credit cards. At the same time, marketing campaign managers rely on dedicated dashboards for the in-depth analysis required to optimize campaigns.

“With the help of Domo, we have definitely seen improvement over time in terms of campaign performance. We now have the visibility to know where to invest or reduce investment, in addition to how to improve our efficiency and make our dollars produce more return than before,” Gatsis said.

“We also do more advanced modeling that lets us be forward-thinking and predictive. It’s so easy to access our data now, which is a capability that didn’t exist prior to Domo,” Wang added. “We can access as much historical data as we need to maximize modeling for a selected product, and we have complete confidence that all the data we have is accurate.”

Both Gatsis and Wang note that Domo has become a key tool for the marketing department.