Domo and Manulife Named 2024 Nucleus ROI Award Winners

Business Wire 9-Jul-2024 4:05 PM

Manulife achieves a 184% ROI with a payback period of 8.4 months after deploying Domo

Domo (NASDAQ:DOMO) and its customer, Manulife Financial Corporation, were honored today with a Nucleus Research ROI Award for achieving a total ROI of 184% through the adoption of Domo's business intelligence platform. The Domo platform has become a central technology to Manulife's success, providing the data access needed to recognize improved marketing campaign efficiency.

Manulife made a decision to bring media in-house in 2022, and implemented the Domo platform in early 2023 to over 400 users. By October 2023, the media buying program had successfully transitioned in-house across all departments at Manulife with improved efficiency for lead generation and sales conversion.

"Once we adopted Domo across the organization, productivity and accessibility to data immediately improved. By streamlining and optimizing reporting, the teams have better-informed targets for each marketing campaign and gathered insights on performance," said Chris Potts, AVP, Global Head of Demand Generation & Marketing Measurement, at Manulife. "Domo's automation capabilities have eliminated the need for manual reporting, saving over 90 hours a month for our marketing team alone. Overall, each business unit, including insurance, banking, and retail, saves approximately 40 to 65 hours per month with Domo."

In addition to improved productivity, Manulife also experienced these benefits:

• Enhanced marketing: Domo's integration enhanced Manulife's marketing efforts. The new approach has led to a 14% increase in global leads, up to 197% lead growth for certain businesses and a 23% improvement in conversion rates. Additionally, Manulife used Domo to evaluate trends and performance, improving the efficiency of the media planning process.
• Cost savings: As a result of democratizing data through the Demand Generation and Resource & Capacity Tracking dashboards, Manulife's media planning and buying process shifted from using external agencies to working in-house. This internalization of media planning has enabled better tracking of expenditures and brought a more strategic focus and transparency to its marketing campaigns.

"Manulife's experience demonstrates the value proposition of a solid data foundation with Domo at its core," said Ben Schein, SVP of Product, Domo. "Manulife invested in the right technology and training to automate reporting, save significant time and cut costs related to its marketing campaigns."

"Manulife's shift from external media agencies to an efficient in-house media team, supported by Domo, underscores the impact of data democratization and real-time analytics on an organization's core business and top-line results," said Alexander Wurm, senior analyst at Nucleus Research, Inc. "Benefits quantified by Nucleus Research include time savings for Domo users across the organization's internal teams, strengthened bottom-line earnings from enhanced marketing initiatives and improved data accessibility."

Since 2002, the annual ROI Awards by Nucleus Research have honored the top 10 organizations and their respective customers that have achieved exceptional business results through their technology deployments. Nucleus Research analysts independently calculated the actual business benefits and ROI of each project. The top winners were chosen from a pool of hundreds of IT project nominations submitted by corporations, non-profits, governmental, and educational organizations.

For a complimentary copy of the Nucleus Research ROI Case Study on Manulife visit here.

About Nucleus Research

Nucleus Research is the recognized global leader in investigative ROI technology research. Using a case-based approach, we provide research streams and advisory services that allow vendors and end users to quantify and maximize the return from their technology investments. We deliver the numbers that drive better business decisions. For more information, visit NucleusResearch.com or follow our latest updates on LinkedIn.

About Manulife

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2023, we had more than 38,000 employees, over 98,000 agents, and thousands of distribution partners, serving over 35 million customers. We trade as ‘MFC' on the Toronto, New York, and the Philippine stock exchanges, and under ‘945' in Hong Kong.

Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

About Domo

Domo puts data to work for everyone so they can multiply their impact on the business. Our cloud-native data experience platform goes beyond traditional business intelligence and analytics, making data visible and actionable with user-friendly dashboards and apps. Underpinned by AI, data science and a secure data foundation that connects with existing cloud and legacy systems, Domo helps companies optimize critical business processes at scale and in record time to spark the bold curiosity that powers exponential business results.

For more information, visit www.domo.com. You can also follow Domo on LinkedIn, X and Facebook.

Domo is a registered trademark of Domo, Inc.

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