New search tool helps NAB improve customers’ online ...



-708660-909320New search tool helps NAB improve customers’ online experience while search data optimises site design and content.“The real power of FAST search is that it helps us get customers straight to the information they are looking for, so they have a better online experience.”Sandeep Baruah, Head of Online, Direct Banking Digital, NABIn 2010, a report by independent research company Forrester found that Australian banks’ Web sites lacked the content and functionality to support their customers’ online inquiries. Top-tier National Australia Bank (NAB) decided to completely refresh its customer Web site to enable customers to do more online, and find what they need quickly and more easily with secure, 24/7 convenience. They paid particular attention to search capabilities, since site visitors increasingly use the search tool rather than navigate by tabs and menus.NAB evaluated three corporate Web site search options. They selected and deployed the Microsoft FAST Search Server 2010 for Internet Sites which can influence search results to prioritise the most useful pages, and display featured content separate to the organic search results. It also offered the advantage of having an outsourced hosting service and a joint licensing agreement with the NAB intranet search team. The results were dramatic. The relevancy of top search queries increased immediately from 25% to 75% and with additional improvements, reached 94%. Searches yielding no results dropped by 39%. With detailed reporting on exactly what their customers are searching for, NAB staff now know which information to prioritise both on the home page and in particular site sections. As a result, NAB is confident they can develop their Web site to deliver a better online service for customers. -66675080010NABIndustry: FinanceLocation:AustraliaOrganisation size:38,953Organisation ProfileFounded in 1893, National Australia Bank (NAB) is one of Australia’s top four retail banks, with almost 11 million customers, 1,800 branches and 39,000 employees. The company provides financial products, services and advice across Australia, and in New Zealand, United Kingdom, United States and Asia.Business SituationNAB is continually working to improve its Web site and internet banking, so customers can do more online. In 2010, NAB recognised an opportunity to upgrade the search engine on .au to make it easier for customers to find what they need.SolutionNAB refreshed the customer Web site .au, and deployed Microsoft FAST Search Server 2010 for Internet Sites as an online search engine. This enables customers to find information from NAB more easily online.Benefits? Better search performance for customers? Ability to make content more relevant to customer needs ? Better Web site management 2954655845185“Our Web site is not a static brochure for the bank: it’s a precious and fleeting opportunity to start a conversation with new customers.” Sandeep Baruah, Head of Online, Direct Banking Digital, NABBusiness NeedsNational Australia Bank (NAB) was founded as the National Bank of Australasia Limited in 1858, and has since grown to become one of Australia’s four largest financial institutions. The bank has almost 11 million customers, who are served by approximately 38,900 employees in 1,808 branches across the country. Headquartered in Melbourne, NAB also owns a number of foreign institutions, including: Great Western Bank in US; the Yorkshire Bank and Clydesdale Bank in UK; and the Bank of New Zealand. As demand for internet banking increased during the decade 2000 to 2010, like its competitors, NAB invested heavily in its Web site. However, over this period Web site user expectations increased dramatically, particularly with regard to the effectiveness of corporate search engines.“Our biggest problem was that when customers searched for something on the Web site, they either got a result that wasn’t relevant or no result at all,” says Sandeep Baruah, Head of Online, Direct Banking Digital, NAB. “As a result, we had high abandonment rates, and we often received negative feedback on our search tool in customer surveys.” NAB decided to improve its Web site search functionality; they noted that while many customers use tabs and drop-down menus to navigate sites, they increasingly relied on search tools to locate specific pieces of information.“Search is now a universal approach to finding information online. Customers expect a smooth and productive experience and we have to meet their needs to be a successful business,” says Baruah.NAB set the benchmark that if a customer typed in a specific product name, such as ‘Term Deposit’, the new search engine should return the relevant product landing page in the number one slot, every time. In addition, NAB also wanted to refine Web site navigation to help customers get the precise information they want, as fast as possible. “Our Web site is not a static brochure for the bank: it’s a precious and fleeting opportunity to start a conversation with new customers,” says Baruah. “Ultimately we want to help customers get to the information they want faster. That is good for our customers and good for our business.”SolutionNAB canvassed the market for new search engine solutions. “We specifically looked for out-of-the-box relevancy and asked a number of suppliers to provide us with their proof of concept,” says Baruah. “Then we looked at additional features that could bring the most relevant content to the surface, based on the customer query.”One of the products staff examined was the Microsoft FAST Enterprise Search Platform.“FAST is designed to allow customers to optimise search specifically for their actual Web site,” says Cindy Schwartz, Practice Manager, Enterprise Search, Microsoft APAC.The FAST Enterprise Search platform used by NAB – now rebranded as Microsoft FAST Search Server 2010 for Internet Sites – enables companies to compile dictionaries of words that, if used as search terms, will automatically return predetermined Web pages. In addition, administrators can pre-program relationships between certain terms, like ‘Super’ and ‘Retirement’ so that search results are more relevant.“Now we have the ability to understand customer queries and respond to them through the way we structure our Web site. Most importantly, this is an ongoing capability. The data we get from FAST enables us to continually optimise, develop and leverage our online presence.” Sandeep Baruah, Head of Online, Direct Banking Digital, NAB“If you can anticipate what customers are looking for with a specific term, you can ensure high levels of search relevancy,” adds Schwartz. “First time relevancy is absolutely critical, because attention spans are so short: you only have a very small period of time in which to capture a customer.”In addition, FAST Search Server 2010 for Internet Sites includes analysis tools that enable bank staff to evaluate which search terms are most popular and when they are most frequently used. FAST Search Server 2010 for Internet Sites is also available through Software as a Service model.“We like the idea of a hosted service,” says Baruah. “It is relatively easy to deploy, meaning we can focus our energy on the customer experience.”After a thorough evaluation, NAB staff decided the FAST Search Server for Internet Sites would give them the dynamic Web site management capabilities they required. BenefitsFAST Search Server 2010 for Internet Sites has helped NAB develop the company Web site and deliver a much stronger customer experience. Better search performance for customersNAB now have day-to-day control over the effectiveness of the Web site search tool, which means they can ensure they give more customers the information they are looking for.“Previously we did not have the ability to improve the out-of-the-box results,” says Baruah. “Now we can take the top 50-100 search queries – which is 70 per cent of our search volume – and assess what should be the ideal piece of content to meet the search query. Then we can make sure we provide that content at the top of the results, so a customer can instantly get the information they require.”Performance has improved dramatically. The relevancy of results on top NAB search queries has increased from 25% on the old platform to 94%. And the incidence of search terms generating a ‘not found’ result has fallen by 39%. Ability to make content more relevant to customer needsBecause NAB staff can now anticipate what many customers are searching for, they can ensure the most sought-after content is immediately available on the search results page.“At the beginning of 2011, we saw a sudden increase in people using the search tool to find information on student loans, due to the start of the university year,” says Baruah. “So we created some content to address this specific need and put this front and centre for all searches on student loans and other student related products. “Using featured content placements, we can also bring all the information the customer needs to the search results page so users don’t have to click through. For example, if a customer types in share price we provide an up-to-the-minute feed of our share price directly in the search results.”Better Web site management The search function has become a tool for continual site management, because it tells staff what customers are interested in.“Now we have the ability to understand customer queries and respond to them through the way we structure our Web site,” says Baruah. “Most importantly, this is an ongoing capability. The data we get from FAST enables us to continually optimise, develop and leverage our online presence.Technical InformationSoftware and ServicesMicrosoft FAST Search Server 2010 for Internet SitesIT IssuesImproving the effectiveness of the Web site search tool“Ultimately our goal is to help customers find information to address their financial needs – whether a customer needs help or a potential customer is looking to purchase. Now we have a useful tool to help us achieve both.”Microsoft product that was featuredMicrosoft FAST Search Server 2010 for Internet Sites enables customers to create a powerful intranet and search experience, as well as a platform for building custom search-driven applications. You can control how queries and results are directed and processed, help people access information from multiple sources, adapt results as people’s preferences change and guide them toward a specific transaction.You can also build visual interfaces to shape how people interact with information. By combining the innovation and agility of the FAST Enterprise Search Platform with the discipline and resources of Microsoft, our customers get the best of both worlds: market-leading products from a trusted technology partner. For More Information For more information about Microsoft products and services call the sales and information line on 13 20 58 Monday to Friday 8am to 8pm AEST. To find a partner or solution, visit australia/findapartner/This case study is for informational purposes only. MICROSOFT MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS SUMMARY.Document published November 201115027-1111/NAB13087353742528For More Information For more information about Microsoft products and services call the sales and information line on 13 20 58 Monday to Friday 8am to 8pm AEST. To find a partner or solution, visit australia/findapartner/This case study is for informational purposes only. MICROSOFT MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS SUMMARY.Document published Month 2011Jobnumber-00(month)00(year)/company (short) ................
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