Quantzig’s Digital Analytics Engagement Helps a Leading Financial Services Provider Understand the Impact of Marketing Effectiveness on Conversion Rates
The client: A leading financial services provider Area of engagement: Digital analytics Typically, financial services are considered to be the backbone of any economy and indicate the socio-economic well-being of any country. Financial services firms are facing the difficult task of providing applications and software that are complaint and risk-free owing to the rapid globalization […]READ MORE >>
The client: A leading financial services provider
Area of engagement: Digital analytics
Typically, financial services are considered to be the backbone of any economy and indicate the socio-economic well-being of any country. Financial services firms are facing the difficult task of providing applications and software that are complaint and risk-free owing to the rapid globalization across the globe. Leading financial services establishments are also looking beyond compliance to optimize their business and enhance financial performance despite all the risk and stringent regulations across the financial industry. The financial services industry is also witnessing a transformation toward a consumer-centric environment to improve market liquidity and reduce business leverage. However, in the hassle to improve risk management capabilities, several factors are hampering the growth of the financial services sector. These factors include:
- Stringent government regulations: Leading financial services firms are counterfeiting risk and compliance initiatives to drive efficiency to meet the uncertainty in laws and regulations. Also, with the expectations of the regulators increasing considerably, leading organizations must take necessary measures to remain level with the regulatory and legislative updates.
- Growing frequency of digitization: Financial services firms are facing relentless pressures to shift from conventional banking models to a convenience-based model due to the rising use of internet and smartphones across the globe. For instance, individuals around the world prefer to make transactions online when compared to physically going to a branch.
These factors are compelling firms within the financial services sector to leverage the use of digital analytics solutions. Digital analytics help firms in identifying the most relevant data and creating meaningful insights to make informed business decisions. These solutions also help companies collect, measure, and analyze data through websites, mobile applications, and sites. This would, in turn, assist them in enhancing their overall operational efficiency. Furthermore, Quantzig’s digital analytics solutions helps website owners and brands to understand how their sites and applications are being found and used. Companies operating in the financial services sector can also optimize their marketing ROI, content offerings, and overall business performance.
The Business Challenge
In the financial services industry, turnover is not always a valuable indicator of activity as there are significant uses of income and volume data.
The client, a leading provider of financial services, wanted to gain actionable insights into their current online landscape and optimize marketing efforts to improve ROI. With the help of digital analytics, they also wanted to enhance the quality of the products and services offered and differentiate them based on customer preferences. The client also wanted to comprehend the current environment and find cost-effective ways to manage operations.
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The Solution and the Business Impact
Strategies that we recommended based on our analysis to understand the impact of marketing effectiveness on conversion rates
The digital analytics solution offered by Quantzig helped the client measure the effectiveness of their marketing on websites, mobile applications, and sites. The engagement also helped the client gain insights into ways to measure relative business metrics such as traffic, leads, and sales through sources including email, online PR, and social media.