How MYOB increased conversion rates by 54%

MYOB unified and scaled their data strategy with Segment

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“A single data flow got us to where we needed to be. It improved our cadence of delivery. We were better able to experiment and take new ideas to market. And from a business point of view, we saw our trial conversion rates go up by 54%. ”

— Jay Nawaz, Head of Product & Platforms, MYOB

Summary:

MYOB struggled to scale their B2B digital strategies due to disparate data sources and teams. To solve this, they needed a unified data strategy to transform their digital customer experiences. Head of Product & Platforms at MYOB, Jay Nawaz, implemented a centralized data infrastructure using Segment and made organizational changes that improved their time to market, personalized user journeys, and improved commercial results.   

The Company:

MYOB is a technology company that provides a wide range of business management solutions to 1.2 million small and medium sized enterprises in Australia and New Zealand. It has a diverse portfolio of offerings, including accounting and payroll, invoicing, inventory, retail point of sale, professional tax solutions, and more. It also has a wide range of customers, like florists, accountants, cafe owners, and builders. MYOB, stands for “Mind Your Own Business”, because it helps small businesses focus on their business. 

The Challenge:

MYOB’s digital strategy wasn’t scaling. The company lacked a consistent model for tracking and using customer data. Not only did this limit its customer insights, it also severely limited its ability to personalize customer interactions. 

“The most important aspect of our customer journey is the first 30 days when they are trialling our product, and we were providing exactly the same experience to everyone. We had so many different products and each product had a different team, different databases, different backlogs, and it was taking us 6 months + to get a simple email change out to market.”  -Jay Nawaz, MYOB

The Solution:

MYOB built a best-in-class data strategy by centralizing their customer data, teams, and processes. Their first step was to seamlessly connect data sources and help teams better understand their customers—all using Segment.

Its second step was to make internal improvements to accelerate time to market and drive efficiencies. MYOB went through an exercise to clearly delineate “Data Producers” from “Data Consumers.” It created teams with marketers, developers, a product manager, and analysts to work together to improve specific KPIs. This structure led to faster turn-around times and stronger ownership and accountability.

MYOB step 1 step 2

Finally, after implementing Segment and organizational changes, MYOB was able to scale its digital experiences. MYOB went from having the same trial experience for all products and customers, to being able to customize the trial experience by product and user segment.

MYOB user journey asset 2

By creating customer experiences that represented the unique needs of its customers, MYOB improved trial conversion rates, a critical business metric.

The Results: 

MYOB created a holistic and unified data strategy that enabled it to personalize its user experiences and improve trial conversion rates by 54%. By establishing Segment as the definitive source for user data, MYOB standardized its data and became a more data-driven organization. Organizationally, MYOB established reusable patterns and more ownership for cross-functional teams. MYOB is now a more efficient and agile organization that has the infrastructure in place to continue scaling.

To learn more about how MYOB unified its data and improved KPI’s, watch Jay’s full CDP Week video. To get started unifying your own data, request a demo to speak to a Segment expert.

Industry: B2B Tech
Location: Australia