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).