Banco Azteca increases sales of financial products by 178% with Google Marketing Platform Mexico's largest digital banki
Posted: Tue Jul 05, 2022 11:42 am
Banco Azteca increases sales of financial products by178% with Google Marketing Platform
Mexico's largest digital banking institution, Banco Azteca,strives to be its customers' first choice for digital bankingservices. To reach more potential customers and offer tailor-madefinancial solutions, the bank relies on its network of affiliates.Network affiliates advertise Banco Azteca's products and servicesthrough their own distribution channels, providing Banco Aztecawith more outlets and affiliates with leads for which they earncommissions. Enabling and sharing audience insights with itsaffiliate network helps Banco Azteca better understand potentialcustomers. This reduced campaign and lead acquisition costsoverall.
Banco Azteca's existing technology needed to be consolidated andsimplified as the brand used multiple technologies and tools.“Affiliate network data cannot remain in silos,” said MontserratNava, Head of Digital Sales at Banco Azteca. “We needed a globalvision of all our prospects in order to offer them the mostrelevant products and services. »
Consolidate customer information into Big Query.
BigQuery, Google Cloud's data warehouse, has become BancoAzteca's primary repository for customer information. By usingBigQuery, the team was able to bring both affiliate data and BancoAzteca data into one place. And because Banco Azteca was alreadyusing Analytics 360 to measure customer engagement on its website,it was able to quickly export that information to BigQuery usingBigQuery's Export feature.
Having consolidated the data in BigQuery brought another benefittoo. Extendo was able to help Banco Azteca do further analysis onthis data. “Through this analysis, the Extendo team was able tobetter understand the journey of potential Banco Azteca customers,which allowed us to advise Banco Azteca on potential siteexperiences they could build,” says Hebert Hernández. , CEO ofExtendo.
For example, if people who had submitted their informationthrough a form on a subsidiary's site and soon visited BancoAzteca's site, but Banco Azteca had not yet been able to follow upwith them, Extendo could place a personalized message on the sitesaying Banco Azteca would be reaching out to them soon.
Enabling information in Google Marketing Platform
With actionable insights in hand from BigQuery, Extendo neededto bring those insights into Google Marketing Platform so theycould be activated. Through data import, Extendo was able to bringinsights from BigQuery directly into Analytics 360. From there,they could create audiences to personalize experiences for theirpotential customers.
In order to personalize the site for specific audiences, Extendohelped Banco Azteca use Optimize 360. Sharing Analytics 360audiences to Optimize 360 was easy since both tools were nativelyintegrated. Once the audience was shared, Extendo was able to buildcustom site experiences for each audience so that when people froman audience visited the Banco Azteca site, they saw a personalizedpage.
Banco Azteca was also able to customize its campaigns in Display& Video 360 and Champaign Manager 360 by adding and removingAnalytics 360 audiences that campaigns can reach. This means thatpeople see recommended products based on their online and offlinebehaviors with an affiliate or Banco Azteca. By communicating theright message to the right user, the bank is able to generatehigher quality leads, thereby accelerating customeracquisition.
Serve more customers with centralized information
After implementing this strategy with Google Marketing Platformand Google Cloud, Banco Azteca's average sales for its financialproducts increased by 178% in the first two quarters of 2020, andthe bank reached 20 million potential customers each year. month.Cost per action fell 30%, and new personal credit accountsincreased 69%. Today, Banco Azteca serves 14M digital customerswith its new systems and has expanded its affiliate network byadding over 500 sub-affiliates – an 8x growth.
“Using the Google Marketing Platform has given us a betterunderstanding of our audience journeys, which has allowed us togrow our digital business. »
Montserrat Nava, Head of Digital Sales, BancoAzteca
Questions case study 1
1- In your opinion, why did Banco Azteca engage in digitalmarketing, especially that of Google? (10 points)
2- According to you, and according to what comes in the text,what was the Impact of the marketing offered by the Google platformon the following elements within the Banco Azteca company:
• Capturing Intention
• Ease of execution
• Cost control
• Depth of analyzes
• Competitive advantage
(10 points)
3- According to the information in the text, as well as what wasdiscussed during the course, do you think a service company likeBanco Azteca would be more likely to advertise for emotionalappeal? or rather Rational? (10 points)
4- Trying to problematize this case study, identify what wasBanco Azteca's biggest challenge! Also, have Google Ads toolsactually succeeded in solving the company's problem? If so, how ?(10 points)
Mexico's largest digital banking institution, Banco Azteca,strives to be its customers' first choice for digital bankingservices. To reach more potential customers and offer tailor-madefinancial solutions, the bank relies on its network of affiliates.Network affiliates advertise Banco Azteca's products and servicesthrough their own distribution channels, providing Banco Aztecawith more outlets and affiliates with leads for which they earncommissions. Enabling and sharing audience insights with itsaffiliate network helps Banco Azteca better understand potentialcustomers. This reduced campaign and lead acquisition costsoverall.
Banco Azteca's existing technology needed to be consolidated andsimplified as the brand used multiple technologies and tools.“Affiliate network data cannot remain in silos,” said MontserratNava, Head of Digital Sales at Banco Azteca. “We needed a globalvision of all our prospects in order to offer them the mostrelevant products and services. »
Consolidate customer information into Big Query.
BigQuery, Google Cloud's data warehouse, has become BancoAzteca's primary repository for customer information. By usingBigQuery, the team was able to bring both affiliate data and BancoAzteca data into one place. And because Banco Azteca was alreadyusing Analytics 360 to measure customer engagement on its website,it was able to quickly export that information to BigQuery usingBigQuery's Export feature.
Having consolidated the data in BigQuery brought another benefittoo. Extendo was able to help Banco Azteca do further analysis onthis data. “Through this analysis, the Extendo team was able tobetter understand the journey of potential Banco Azteca customers,which allowed us to advise Banco Azteca on potential siteexperiences they could build,” says Hebert Hernández. , CEO ofExtendo.
For example, if people who had submitted their informationthrough a form on a subsidiary's site and soon visited BancoAzteca's site, but Banco Azteca had not yet been able to follow upwith them, Extendo could place a personalized message on the sitesaying Banco Azteca would be reaching out to them soon.
Enabling information in Google Marketing Platform
With actionable insights in hand from BigQuery, Extendo neededto bring those insights into Google Marketing Platform so theycould be activated. Through data import, Extendo was able to bringinsights from BigQuery directly into Analytics 360. From there,they could create audiences to personalize experiences for theirpotential customers.
In order to personalize the site for specific audiences, Extendohelped Banco Azteca use Optimize 360. Sharing Analytics 360audiences to Optimize 360 was easy since both tools were nativelyintegrated. Once the audience was shared, Extendo was able to buildcustom site experiences for each audience so that when people froman audience visited the Banco Azteca site, they saw a personalizedpage.
Banco Azteca was also able to customize its campaigns in Display& Video 360 and Champaign Manager 360 by adding and removingAnalytics 360 audiences that campaigns can reach. This means thatpeople see recommended products based on their online and offlinebehaviors with an affiliate or Banco Azteca. By communicating theright message to the right user, the bank is able to generatehigher quality leads, thereby accelerating customeracquisition.
Serve more customers with centralized information
After implementing this strategy with Google Marketing Platformand Google Cloud, Banco Azteca's average sales for its financialproducts increased by 178% in the first two quarters of 2020, andthe bank reached 20 million potential customers each year. month.Cost per action fell 30%, and new personal credit accountsincreased 69%. Today, Banco Azteca serves 14M digital customerswith its new systems and has expanded its affiliate network byadding over 500 sub-affiliates – an 8x growth.
“Using the Google Marketing Platform has given us a betterunderstanding of our audience journeys, which has allowed us togrow our digital business. »
Montserrat Nava, Head of Digital Sales, BancoAzteca
Questions case study 1
1- In your opinion, why did Banco Azteca engage in digitalmarketing, especially that of Google? (10 points)
2- According to you, and according to what comes in the text,what was the Impact of the marketing offered by the Google platformon the following elements within the Banco Azteca company:
• Capturing Intention
• Ease of execution
• Cost control
• Depth of analyzes
• Competitive advantage
(10 points)
3- According to the information in the text, as well as what wasdiscussed during the course, do you think a service company likeBanco Azteca would be more likely to advertise for emotionalappeal? or rather Rational? (10 points)
4- Trying to problematize this case study, identify what wasBanco Azteca's biggest challenge! Also, have Google Ads toolsactually succeeded in solving the company's problem? If so, how ?(10 points)