As a recognized specialist in financial services for retailers, our client enables e-commerce shoppers to pay using credit. Shopping at one of the many cooperating online shops, users who choose “payment by credit” are directed to the multistage credit application platform. There they select the monthly financing rate and duration to complete the purchase after a successful credit check.
The client is very interested in constantly optimizing this conversion funnel. For this reason, FELD M implemented a detailed tracking system some time ago to evaluate performance within the multi-track application route. In addition to KPI reporting, the tracking was set up with a high level of detail to enable A/B testing. Our client is aware of the pivotal role that A/B-testing plays in optimizing the conversion funnel; it yields valuable insights that enable continuous improvements based on customer needs.
In this project FELD M was asked to support A/B-tests to gather detailed insights for the most promising branding approach in the funnel.
Sound test design for granular, actionable insights
The question at hand was: to what extent does the branding of the credit application process influence the closing behavior?
While the idea for the test was generated in the client team, FELD M did the front-end coding in Adobe Target. This involved first refreshing the implementation of Adobe Target, checking the data layer and implementing necessary adjustments. This laid the foundations for us to be able to perform the desired analyses at the necessary level of detail: the segmentation and the primary metric “form completion”. With the help of the analytical segments, we were able to make the conversion clear in all steps of the funnel and thus enable targeted optimization.
To make the test as agile and time saving as possible, we initially focused on the best-performing segment and set up the test for mobile devices, where the customer currently has the best traffic.
Within only 3 months we managed to set-up, perform and evaluate the A/B-tests which served as basis for the client to implement changes, leading to substantial uplift of 4%.
FELD M continues to support the client as a partner in the ongoing insight generation with A/B -tests and is currently working on extending the testing to explore the impact on lesser-known entities for optimal strategy implementation.
Ongoing funnel optimization
With our support the client was able to perform targeted A/B-testing that goes far beyond aesthetics and simple preferences, but shapes user journeys to enhance overall user experience (UX) and ultimately optimized conversion rates.
Our client has come a step further in balancing retailer and own brand awareness in their branding approach. FELD M is happy to further support and to jointly tap into the full potential of the clients’ tech infrastructure set-up.
Have a similar project?
Let's find out together how we can help!
