Wel­come back to the Site­Cat­a­lyst Finance Fun­da­men­tals blog series.  In this series we are dis­cussing the imple­men­ta­tion basics and exam­ple analy­sis of each fun­da­men­tal solu­tion that Finan­cial Ser­vices cus­tomers should con­sider lever­ag­ing.  Stay tuned and please feel free to con­tribute your thoughts/experience as we dis­cuss each solution.

In the pre­vi­ous Appli­ca­tion Con­ver­sion post we cov­ered imple­men­ta­tion.  In today’s blog post, we will dive into the reporting/analysis side of the Appli­ca­tion Con­ver­sions fun­da­men­tal solution.

What the basics provide

This fun­da­men­tal allows you to track appli­ca­tion starts, appli­ca­tion sub­mis­sions, and the appli­ca­tion com­ple­tion rate for each appli­ca­tion (use the cal­cu­lated met­ric of Appli­ca­tion Submissions/Application Starts to get the appli­ca­tion com­ple­tion rate).  This infor­ma­tion can be used to iden­tify which appli­ca­tions are most/least effec­tive at dri­ving conversions.

App Type report

To pull this report:

1)      Go to the “App Type” report under “Cus­tom Con­ver­sion” (the exact loca­tion will depend on the eVar used in the imple­men­ta­tion.  For exam­ple, eVars 1– 10 fall under Cus­tom Con­ver­sion 1– 10).

2)      Click on “Add Met­rics” and from the stan­dard met­rics drop­down select the “App Start” and App Sub­mis­sion” events.

3)      Change the drop­down type to Cal­cu­lated and add the “App Comp. Rate” met­ric.  Remove any other events and refresh the report.

This type of data can be use­ful in a dash­board or with alerts setup.  I would rec­om­mend trend­ing both the app sub­mis­sions and the app com­ple­tion rate over time.  Dips in these num­bers can indi­cate issues with the appli­ca­tion forms.  Spikes also war­rant deeper inves­ti­ga­tion.  Com­pare apps with high com­ple­tion rates against apps with low ones to iden­tify trends in the app expe­ri­ence (but keep in mind that apps for dif­fer­ent prod­ucts will nat­u­rally have dif­fer­ent com­ple­tion rates).  Test dif­fer­ent ver­sions of the same appli­ca­tion and mea­sure which ver­sions have the high­est com­ple­tion rates.

Get more by com­bin­ing solutions

While mea­sur­ing the appli­ca­tion com­ple­tion rate is use­ful, the biggest value of this solu­tion comes when you com­bine it with other solu­tions.  The Appli­ca­tion Con­ver­sion solu­tion pro­vides the con­ver­sion met­ric for other solu­tions.  For exam­ple, if you imple­ment only the exter­nal cam­paign per­for­mance solu­tion, then you can track cam­paign responses for your mar­ket­ing chan­nels.  If you also imple­ment the appli­ca­tion con­ver­sion solu­tion, then you can com­bine the out­put of these two solu­tions to report on cam­paigns against appli­ca­tion submissions:

Marketing Channels

Opti­miz­ing cam­paigns to Appli­ca­tion sub­mis­sions (or offline appli­ca­tion approvals if that advanced solu­tion is setup) is far more effec­tive than opti­miz­ing based on click-throughs alone.  For most mar­ket­ing efforts, you want to pri­or­i­tize cam­paigns that con­vert over cam­paigns that drive high non-converting traffic.

The appli­ca­tion sub­mis­sion event can also be used to mea­sure the effec­tive­ness of mar­ket­ing pages by lever­ag­ing par­tic­i­pa­tion.  The sole pur­pose of these pages is to drive con­ver­sions, so mea­sure them against it!  Start by run­ning the Site Con­tent > Pages report and fil­ter­ing your page name report to dis­play only mar­ket­ing pages, then add the vis­its and app sub­mis­sion par­tic­i­pa­tion met­rics (note, you must use the par­tic­i­pa­tion met­ric for this and not the stan­dard met­ric, par­tic­i­pa­tion is in a sep­a­rate drop­down in the add met­ric wiz­ard).  I’d also rec­om­mend cre­at­ing a “App Sub­mis­sion Page Effec­tive­ness” cal­cu­lated met­ric (app sub­mis­sion par­tic­i­pa­tion / vis­its).  This cal­cu­lated met­ric can be used to nor­mal­ize the pages so you can com­pare high traf­fic pages against low traf­fic pages.

Marketing Page Participation

When a con­ver­sion occurs, all pages seen in the visit prior to the con­ver­sion get “par­tic­i­pa­tion” credit for the con­ver­sion.  The higher the app sub­mis­sion par­tic­i­pa­tion for a page, the more often that page leads to a con­ver­sion.  Gen­er­ally speak­ing, mar­ket­ing pages with high con­ver­sion and high traf­fic are your rock stars.  Pages that have high traf­fic, but low con­ver­sion should be opti­mized or decom­mis­sioned.  Pages with high con­ver­sion and low traf­fic should high­lighted through pro­mo­tions to drive more traffic.

Con­clu­sion

In con­clu­sion, the Appli­ca­tion Con­ver­sion fun­da­men­tal is one of the most impor­tant solu­tions to imple­ment and lever­age.  If you don’t have it already setup, then work with your IT department/web ana­lyt­ics team/Adobe consultant/whoever it takes to get it deployed.  We have cov­ered the basics to this solu­tion, but there is so much more that can be done with it when com­bined with other fun­da­men­tal and advanced solu­tions.  Stay tuned as we explore the other fun­da­men­tal solu­tions over the upcom­ing months!

Have a ques­tion about any­thing related to Site­Cat­a­lyst for the Finan­cial Ser­vices indus­try?  Do you have any tips or best prac­tices to share?  If so, please leave a com­ment here or send me an email at tucker (at) adobe​.com and I will do my best to answer it on this blog! (Don’t worry – I’ll keep your name and com­pany name confidential).

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