Unlocking Efficiencies: SG Analytics Enables Clients to Enhance Conversion Rate and Customer Acquisition
BUSINESS SITUATION
A US-based Fintech organization aiming to unlock efficiencies and improve conversation rates on its web and mobile app for new customer acquisition and up-sell.
The client wanted assistance in analyzing customer journeys initiated through marketing efforts and improving conversion rates without increasing cost or change in channel strategy, which mainly focused on the email channel.
SGA APPROACH
Consulting Engagement
Created baseline performance based on traffic, conversion funnel, script performances, CTA performance, landing page validations, and ease of navigation across platforms
Benchmarking performance factors across peers and industry standards
Recommended script modifications, inclusion of PURLs, pre-filled forms, and tag governance
Conducted performance analysis by diverting a percentage of traffic to a modified page using 302 redirects
Analytics Engagement
Created look-alike models to generate personalized offerings (rates)
Built response propensity models aiding multi-touch strategy
ENGAGEMENT
SGA’s engagement comprised two teams
Consulting on improving conversion rates
Analytics service provider for marketing analytics requirements
BENEFITS & OUTCOME
12.50% reduction in the overall loan application process
6.75% improvement in conversion rates
Increased campaign effectiveness
KEY TAKEAWAYS
Scalable solution created that can be used across other lending products
Long-term omnichannel strategy blueprint created and agreed upon
