5 Important Website Performance Metrics
The digital renaissance has prompted online banking firms across the globe to adopt a digital mode of operations to expand their reach to a broader customer base and boost their market penetration. Companies are allocating major funds and expertise to develop websites that can act as the face of the company. Understandably, the performance of the website acts as the make or break factor for any company when it comes to establishing their brand. It is imperative for companies to leverage industry-specific website performance metrics to monitor their website performance. Some of the commonly followed website performance metrics, which help boost traffic and user retention, are enlisted below:
- Time to Display Title: This refers to the time taken for the online banking website name to appear in the visitor’s browser following the visitor’s query for that particular company. Lesser time will reinforce the website’s legitimacy and will prompt the visitor to view the whole website.
- Unique Visitor Traffic: This indicates the number of individual visitors to the online banking firm’s website within a preset timeframe. This is considered to be one of the important performance metrics as it determines the functionality of the website content and its reach to the target audience.
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- Bounce Rate: This metric helps to identify the percentage of visitors who navigated away after viewing just one page. This allows the company to implement necessary changes to enhance the website experience for the visitors.
- Landing Page Conversions: Considered to be one of the key website performance metrics, this helps in determining the lead generation ability of the website. This counts the number of visitors who have filled out a form or entered their details to become a lead after navigating the online banking firm’s landing page.
- Throughput: Employing website performance metrics has proven to be effective in determining the bandwidth required to respond to both concurrent users and website requests. This consequently results in higher throughput.
Website Performance Testing Best Practices for the Online Banking Industry
Complete Website Performance Model: This forms the foundation of the performance of websites. The IT team of any online banking firm is advised to design a website based on the system capacity and the infrastructure thresholds of the firm. From the user’s perspective, the IT team should consider concurrent users, simultaneous requests, and server utilization during peak periods of the day. Building the website for an online banking firm should essentially take into account thresholds that can deter the performance of the website. This will help in designing the website infrastructure that is modeled on the company’s infrastructure thresholds.
Conducting Frequent Tests: It is extremely crucial to ensure the continuous functionality of the online banking website. Any performance downtime will result in business losses for the online firm. Thereby, it is advisable for any online banking firm to conduct a frequent website performance test to avoid any sudden hiccups in the website performance. Additionally, while running the test, it can also highlight areas that might require improvisation and boost performance.
Geographical Areas Consideration: Depending on network availability, users from distinct locations might experience different response times. As a result, it is imperative for the online banking firm to track such areas that are resulting in slower website performance and implement the necessary performance metrics to achieve improved improvement. This is considered critical for the online banking industry since an unsatisfactory website user experience will slim the business scopes of the online banking firm.
The client is a leading online banking firm and claims a major share in the thriving online banking industry.
The online banking firm wanted to gain control over their website performance, uptime, and functionality. Their newly renovated website was not generating enough conversions and was significantly lagging in terms of search engine visibility and online marketing potential.
Speak with our analytics experts to know more about the applications of Quantzig’s website performance metrics on the online banking firm.
Quantzig’s website performance test experts adopted advanced analytics and tools, which were crafted according to the business requirements of the online banking firm. The website performance test was conducted to offer diagnostic information on the client’s website. Quantzig’s experts combined the standard website performance metrics with customized testing and monitoring tools that determined the root causes which were resulting in lower conversions. Apart from diagnosing the website performance, the online banking firm was also given actionable insights into performance-enhancing measures modeled on the competitor’s websites that are generating high conversions and occupy high page rankings.