ANZ Bank commissioned owned media specialists Sonder to conduct a valuation and audit of the media assets the bank owned and managed. Their big discovery was that circa 85 million impacts a month, mostly from ANZ customers, were under-leveraged by the business.
Now ANZ’s marketing team think first about their owned channels before developing paid media briefs.
New content hubs coupled with ANZ’s two year investment overhauling its tech and personalisation capabilities, for example, has seen up to a tripling of conversion rates.
ANZ also has a big upside in acquiring new customers from its owned media assets, not just better cross-selling of products to existing customers. For example, outward facing screens in branches around the country which can drive customer acquisition.
At ANZ Bank we knew our owned channels had value, but we didn’t know how much value and we didn’t know all the available leverage opportunities. Sonder provided us with a solution to both these challenges. Within the team we have a witnessed a mindset shift from defaulting to paid media as the solution to every marketing problem, to embracing an ‘inside-out’ approach to marketing which starts with assessing how well our objectives can be achieved through owned channels. An owned media valuation and data-driven personalisation is a powerful combination to drive significant commercial growth.