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 our pre­vi­ous post, we reviewed the finan­cial ser­vices fun­da­men­tal of self-service trans­ac­tion track­ing. In this blog post we will review report­ing on self-service trans­ac­tions and some sug­gested opti­miza­tion points.

Basic Self-Service Reporting

Once your site has been coded with the appro­pri­ate eVar and events, you can view the fol­low­ing report in Site­Cat­a­lyst. Run the self –ser­vice trans­ac­tion eVar report and pull in the Self-Service Start and Com­plete events and a com­ple­tion rate cal­cu­lated met­ric (Self Ser­vice Completes/Self Ser­vice Starts).

This report shows how many times users started a par­tic­u­lar process, and how many actu­ally fin­ished it. While the report is inter­est­ing on the sur­face, adding a com­ple­tion rate brings a few things to light:

  1. Of the two sim­i­lar process flows, the credit card auto-pay signup flow has a higher com­ple­tion rate. This could indi­cate a prob­lem for some users of the loan signup process, such as con­fus­ing word­ing or val­i­da­tion errors.
  2. The new card order flow has a much lower com­ple­tion rate than the other self-service trans­ac­tions. Addi­tional analy­sis should be done to deter­mine why. Is the process too confusing?
  3. The credit line increase process has a very high con­ver­sion rate. What about this process is caus­ing users to com­plete it at a higher rate? Can we apply these find­ings to other self-service processes?

Advanced Report­ing

One of the great fea­tures of Site­Cat­a­lyst 15 is the abil­ity to break down any con­ver­sa­tion vari­able (eVar) by any other con­ver­sion vari­able. Using this func­tion­al­ity, we can dive deeper into our self-service trans­ac­tion data.

Say the mar­ket­ing depart­ment of Adobe Bank wanted to encour­age more users to take advan­tage of paper­less account state­ments by enter­ing users in a con­test to win $100 if they sign up. They sent out sev­eral emails, made posts to their Twit­ter and Face­book feeds, and ran in-statement ads. To gauge the effec­tive­ness of each of these place­ments, you as an ana­lyst could break down the self-service trans­ac­tion eVar by the cam­paign track­ing code to see how well each cam­paign is performing:

You can see from this report that of all the paper­less state­ment cam­paigns, the email about the sweep­stakes (line 2) had the high­est rate of get­ting peo­ple to actu­ally sign up for paper­less state­ments, and the other sweep­stakes cam­paigns had higher con­ver­sions rates than the oth­ers. This indi­cates that the mes­sag­ing about prizes is a good moti­va­tor of get­ting peo­ple to enroll!

While self-service trans­ac­tion track­ing seems very sim­ple on the sur­face, its power lies in how it can be such a flex­i­ble method of report­ing on post-login activ­i­ties. How does your com­pany use self-service trans­ac­tion track­ing? Leave your favorite use cases in the comments!

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 svertree (at) adobe​.com and I will do my best to answer it on this blog so every­one can learn! (Don’t worry – I’ll keep your name and com­pany name confidential).