So what’s targeted advertising, you say? Here’s a personal example I’m sure will sound like a familiar experience.
I’ve recently been looking for accommodation in the South Island for a holiday, and after doing that for an evening, digital advertisers have picked up on that, and I’m now seeing ads for beautiful places to stay.
I think this is good - instead of boring, irrelevant ads, I’m getting served up options I’d have never considered, or even heard of – and the ads are actually interesting to me.
Of course, nothing is ever perfect - I bought a robot vacuum six months ago and I still seem to be a key target for robot advertising – one is enough!
ANZ also uses that Apple IDFA data in conjunction with our own information to help figure out which ads you don’t care about.
Beyond advertising products, the data also helps us understand the best way to connect with our customers. For example, we know a lot of our customers, especially younger people, are more likely to interact with an ad on social media than an email from their bank - so we take note of a customer’s preferred channels and prioritise them.
That said, there’s some customer data that is off-limits for us - ANZ doesn’t use transactional data for targeted advertising – the data on things they buy or savings transactions they make.
We also have strict protocols inside the bank and restrictions around who can access accounts and the transaction data for a customer.