Enhancing credit application user flows with data analytics
- Web analytics
- Conversion rate optimization
Client
Specialist in financial services
Industry
Financial services
Tools we used
Project goals:
- Initial tracking implementation for a data-based evaluation of user flows
- Provision of basic and detailed analyses for the needs of different stakeholders
- Continuous development of tracking and implementation of Adobe Target
As a recognized specialist in financial services for retailers, our customer enables e-commerce shoppers to pay using credit. Users who choose “payment by credit” are directed to the multistage credit application platform when shopping at one of the many cooperating online shops. There they select the monthly financing rate and duration to complete the purchase after a successful credit check.
Our customer wanted a solution to identify potential for improvement within this conversion funnel. It approached FELD M for support in implementing a detailed tracking system to evaluate the performance within the multi-path application route.
In joint workshops, the core requirements of the tracking solution were first defined to make it possible to answer all important business questions and observe KPI developments in later reports. In addition to KPIs, the tracking should also have a high level of detail to enable later A/B testing.
Adobe Analytics tracking for conversion funnel improvement
After the strategic conception of the tracking solution and the subsequent technical implementation, we created basic and detailed reports precisely according to the needs of various stakeholders in coordination with our client. In addition, we prepared multiple detailed analyses of specific aspects. Based on the client's tech stack, Adobe Analytics was implemented as an analysis tool using the Google Tag Manager. Adobe Target was implemented for personalization and A/B testing.
FELD M continues to support the client as a partner in the ongoing development of tracking, adaptation to innovations within the application, monitoring of data quality as well as the creation of reports and the generation of insights.
Ongoing funnel optimization
With our support, our client was able to implement a detailed tracking system for data-based validation of suspected technical and usability problems within the credit application process. Our client is now able to identify levers to improve the conversion funnel.
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