Product category:
Internet, email, search, web design
News Release from: speed-trap | Subject: customer insight software
Edited by the Marketingservicestalk Editorial
Team on 11 January 2008
Customer insight aids online financial
retailer
German financial retailer Fortis credit4me has reported 25 per cent growth in customers completing web loan applications since using Speed-Trap's new customer insight software.
The software licence provided by Arcade e-Business, one of Speed-Trap's European distributors, enabled Fortis to monitor its customers' online behaviour and experiences so it can make calculated and informed marketing decisions Of its results with Speed-Trap, Fortis credit4me director of direct channels, Liesbeth Rigter stated: "Following our partnership with Speed-Trap and our amendments to our site processes in the light of their discoveries, we have been able to detect improvement possibilities up to a 25 per cent increase in the numbers of those starting an online application with us actually completing the process to become a customer"
This article was originally published on Marketingservicestalk on 9 Nov 2007 at 8.00am (UK)
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Since its foundation in 1990, when N.V.AMEV and VSB merged their operations, Fortis has been continually strengthening with a series of takeovers.
The company, which ranks among Europe's top 20 financial institutions, has a presence in over 50 countries worldwide.
In recognition of its work, Fortis has won numerous awards, including the 2007Euromoney Award for Best Bank in Belgium and in Luxembourg, The Banker's Belgian Bank of the Year Award, 2006, and the MAPIC Award for the innovative credit4me Retail formula, in 2006.
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Rigter commented: "We originally launched into the German market in July 2006 without any customer insight software - we could see how many 'hits' we had on the site and little more.
"It became clear that we needed software to analyse our online customers' behaviour and compare this to their activity in our other channels.
"With Speed-Trap, we have full visibility of our customers' routes through our site and any bottlenecks, thereby allowing us to remedy any technical issues.
"From a marketing perspective, we are able to see where visitors have come from - such as via a search engine, an affiliate partner or an advertisement on another site - and also specifically which marketing propositions within our site have the greatest effect".
Fortis has primarily used Speed-Trap's software to analyse the sales channel and pre-empt issues.
For instance, repeated data entry problems indicated a lack of clarity on the data entry form.
Rigter commented: "Seeing so plainly what errors are being made allows us to question why there seems to be a lack of comprehension - why do our visitors fail to check a certain box or see a certain link? "This enables us to edit the functionality of the website wherever we see inconsistencies - ensuring consumers will trust us as a reputable brand that delivers what it promises".
Rigter continued: "We have specifically seen benefits from monitoring and reviewing our data entry; Speed-Trap showed us that customers would become suspicious at being asked for certain information very early on in the process and consequently would not fill in the rest of the data entry form - resulting in a failure to complete.
"Even changing the simpler aspects of data entry which Speed-Trap highlighted has resulted in increasing out customer conversion rates.
"The main advantage we have found with Speed-Trap is that their technology does not require us to be specific in which parts of the site we monitor - we can monitor every inch of the site in a single implementation.
"This allows us to see problems throughout the whole site, and crucially not just where we expect them.
"As a result, we have been able to improve many technical issues that we simply did not realise were there".
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