A Super Transformation
How we helped a leader in Superannuation navigate a post-pandemic paradigm shift to secure Australia’s retirement future.
The COVID-19 pandemic has dramatically reshaped the superannuation industry. Rising interest rates and living costs have sparked a new era of financial discernment among Australians, who now scrutinize their super providers more closely.
In response, companies are adopting a "do more with less" approach, leveraging technology to drive results and maintain competitiveness. This shift, however, demands skilled personnel and robust processes to fully harness digital solutions.
DBZ worked with a leader in the financial services (who wishes to maintain their privacy). They recognised the imperative to optimise their marketing technology and operational efficiency to address this huge consumer behavioural shift.
THE CHALLENGE
Our client needed to move beyond outdated Martech infrastructure and inefficient campaign management processes. A dynamic marketing landscape caused ineffectiveness in how teams could deliver marketing campaigns to its mammoth member base.
To set the teams up for success, an overhaul to the operating model was needed that adapts to a dynamic environment and makes effective use of skills and resources to drive customer communications.
Reducing costs and increasing productivity was also important whilst dealing with technical hurdles such as legacy systems, data management issues, and Martech stack inefficiencies were on the remedial list.
APPROACH
We first took a good look at how they were running things. We interviewed the entire team and identified key areas where we could transform how their marketing team worked together.
This involved developing a campaign management framework aligned with their new Target Operating Model (TOM) and uplifting team capabilities through specialised training in Adobe Journey Optimiser and Adobe Experience Manager.
Our goal was simple: to help their marketing team work smarter, not harder, by streamlining their processes and upgrading their tools, we set them up for more successful campaigns in the future.
Here's what we did to help:
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We created a step-by-step guide for running marketing campaigns. This included clear instructions on who should do what, when, and how. The playbook contained process improvements and optimisations that lead to greater efficiencies and clearly defined roles. We also trained the team on how to use this new playbook.
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The new Campaign Management Framework was tailored to their needs as part of their operating model changes. This enabled the teams to leverage process efficiencies in their everyday ways of working.
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We didn't just hand over a plan and walk away. We ran training sessions to teach everyone the new way of doing things. We also stuck around to answer questions and make sure everything was working well.
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Throughout the whole process, we met regularly with their leaders. We held weekly check-ins to get their feedback and make any needed changes along the way.
STRATEGY
We implemented a new Target Operating Model with a value stream approach with dedicated squads for campaign management.
The multi-faceted transformation was rolled out in phases:
1. Process Reengineering:
Developed and implemented a 10-step Campaign Management Process
Aligned new process with their roles and responsibilities
Integrated process into broader Customer Contact Framework
2. Change Management and Training:
Conducted comprehensive training sessions on new processes
Created a dynamic Confluence page as a living document for campaign management
Developed a RACI matrix that outlines roles and responsibilities across a large, multi-faceted team aligned with the 10 campaign management steps
Facilitated ongoing learning and efficient onboarding
Highlighted gaps in processes and provided a comprehensive set of further optimisations that can be developed
The change management strategy focused on user adoption, with the Confluence page serving as a central knowledge hub.
OUTCOMES
At the heart of this transformation lies a newly minted campaign management framework, a veritable playbook for the digital age. DBZ helped our client turbocharge their Martech stack, turning what was once a clunky apparatus into a lean, mean, customer-engaging machine.
Perhaps most crucially, they've invested in their people.
Team competencies have been uplifted, creating a workforce that's not just keeping pace with the industry, but setting the tempo.
In an industry often criticised for its glacial pace of change, this Australian Superannuation Leader is proving that with the right strategy, even superannuation giants can dance.
This isn't just a win for them - it's a wake-up call for the entire sector to set their teams up for process efficiencies in a large, dynamic marketing landscape. The message is clear: evolve or be left behind.
LESSONS LEARNED
This Martech overhaul offers a masterclass in digital transformation. By tackling technology, processes, and people concurrently, they have emerged as an agile, data-driven powerhouse.
A holistic strategy that prioritised ongoing training, accessible documentation, and a clear dynamic operating model gave them a comprehensive approach, which not only drove adoption but also unlocked the full potential of their marketing campaign management framework, setting a new standard in the industry. With DBZ’s guidance, this company stands poised to reap the rewards of its forward-thinking strategy in this evolving superannuation landscape.