Case Study Banking User Experience
Turning Visits Into Incremental Revenue Through Conversion Optimization
increase in conversion rate on key tests
incremental revenue growth
win rate on A/B tests
The Situation
With a focus on new customer acquisition, this large regional bank was driving considerable traffic through investments in advertising, social media, organic search and other channels. As their digital agency partner, our team uncovered major opportunities to improve the user experience and ultimately increase the conversion rate of new visitors on the website. With the level of traffic being driven to the site, even small increases in conversion rate would dramatically increase revenue.
The Transformation
Our data analysis for current site performance led our team to existing friction in the process to open a checking account. With this knowledge in hand, our team built a testing and optimization process that delivered instant results—$13.6M in annualized incremental revenue kind of results—and set the foundation for ongoing improvements across the entire commerce experience.
The Work
We like to say we go slow to move fast. Through detailed research—including both analysis of existing data and customer listening—the team built a strategic roadmap for improving engagement and conversion. This included a couple of key pieces.
1) An Impact/Effort Matrix to clearly prioritize which efforts would increase ROI. We started by optimizing quick wins, followed by data-driven A/B testing, and finally implemented larger overhauls as needed.
2) Research focused on the end user. Customer listening and session data showed us that new visitors experienced confusion. The website mirrored internal structures, rather than delivering a clear pathway to what a customer needed to confidently take action. By hearing—and acting on—this user data, we were able to create the right tests and build improved experiences for new customers.
Real Results
Conversion optimization drove an increase in new customers and ultimately $13.6M in revenue.
Increased conversion rate across key web pages.
Led to improved ROAS and ROI on multiple marketing investments.
Actively used session data and customer feedback to improve the user experience.
Improved conversion rates from organic search traffic.
Developed an ongoing testing strategy to improve web page engagement.
Assisted in developing a “Center of Excellence” at the bank for optimization, testing and resource allocation.