AN INTERESTING twist on the way banks can deploy their big investment in information technology to help their agribusiness clients is at work deep in the National Australia Bank's (NAB) computer nerve centre.
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NAB is scanning Facebook and other social media forums used by businesses to promote themselves and their brand names, to find out what people are saying about its own clients, their products, their reputations and marketing campaigns.
"There's so much social network chatter happening, particularly when it comes to the food industry," said NAB agribusiness boss Khan Horne.
"It's often a direct response to branding and marketing initiatives by producers or retailers, or their competitors.
"The feedback can be really valuable if you can keep ahead of what's being said.
"But it's difficult for the average business, particularly a busy farming enterprise, to stay fully alert to what might be a positive or negative remark about distribution, or an event where your wine label or food line was featured, or a peception of your brand."
NAB initially developed the research systems to track consumer perceptions about its own brand and banking products (and its competitors), but soon realised the technology could be broadened to assist its customers.
"We don't charge for the service. It's just one of those areas where we're able to respond to changes in our industry by using information technology to work with our clients," Mr Horne said.
Andrew Marshall
National agribusiness writer for Fairfax Agricultural Media.
National agribusiness writer for Fairfax Agricultural Media.
