Conversion Rate Optimisation (CRO) often focuses solely on improving website conversion levels and application form performance. As contradicting as it sounds given the name Conversion Rate Optimisation simply trying to improve converion doesnt always yield the results your business needs to grow. Setting targets such as improving your click through rates, application form performance and similar webs objectives often form a the foundation for most tests however they should not form the sole focus of your conversion rate optimisation efforts.
Taking a holistic view and focusing on business growth and profits gained from any optimisation will ensure that you build the correct foundation on which to base hypotheses and implement tests that really do make a difference to your buisness.
Financial services tracking often only goes as far as tagging online application forms and their agencies tend to report and optimise to a similiar level of conversion. Its important that you consider the entire sales funnel and track leads all the way through to completition and more.
What if you manage to increase current account applications yet application to open rates substaintially drop due to less qualified traffic? What if you manage to increase trial account sign ups but the conversion from trial to paid account doesn’t materialise further down the line? Whilst your test may have concluded as a success it does not always result in growth for the business!
Here at Rework we will work with your company to ensure that we understand your entire sales funnel. Our hypothesis are always based on data and reduce risk and any tests run are geared towards helping your business to grow.
Financial services companies are nearly always subject to stricter regulations than most other companies competing in search. Restrictions on the words that can be used and the T&Cs that certain products and phrases triggers means running a paid search campaign within finance comes with a little more responsibility and added challenges. Yet, financial services companies need to advertise like everyone else. You have a website and you’re looking for new clients, so why should you venture into the world of financial services paid search marketing?
Finding and buying the right terms or audience at the right time for them to a a positive interaction with the brand, whether that be a conversion or some form of desired interaction, all whilst ensuring you are not saying the wrong thing and putting themselves at risk of legal action can seem daunting but with rewarding outcomes.
Its all about measurement
For an industry driven by numbers and the data financial services web and marketing measurement tends to lag behind the pack. Ensuring that you can correctly tag, track and evaluate the performance of your AdWords efforts will ensure you achieve the best ROI possible. Depending on the size of your company ensure that you sit down with the technical and analytics teams as early as you can in the process and bring them on board.
Having access to correct and insightful data will not only allow you to optimise, test and push your AdWords efforts but for most client-side marketeers provide you with the all important metrics to report back to the business on. It’s much easier to justify investment into a channel with provides such insightful data and results!
Ad Copy is key
Click through rates and relevancy don’t just form two substantial parts of Ad Rank, the value that’s used to determine your ad position (where ads are shown on a page) and whether your ads will display at all by search engines, but given the fact you work in finance then the text on your website, depending on your product set, can be to be very similar to the text on your competitor’s website. Whilst the ad’s main objective is and should be driving the most qualified traffic it can, it’s your brands first opportunity to make an impact on the visitor and to differentiate yourself from competitors.
Finance can be complicated, your message shouldn’t be
Your clients come to you for help in understanding their finances and making the best financial decisions. Finance is a difficult topic for the average person, and it can be confusing and stressful. As a result, many people take risks or attempt to ignore their finances altogether. PPC advertising can help you to get your message across quickly, in a small number of words, to encourage people to act and to contact you for more information. When people search for a financial service they can be easily deterred, but with a short PPC advert that gets straight to the point, you’re able to avoid scaring people away.
Your clients are specific
You probably work with very specific clients or product sets so you are likely going to maximise your potential by finding the clients that you can best serve. PPC advertising can help you to more easily target the clients that are of highest value to you, so that your time is used as wisely and efficiently as possible. As digital marketing continues shift away from ‘simplistic’ keyword data to more granular audience and user targeted strategies your opportunity to spot and identify your relevant target market is going to improve as well.
Give your website the chance it deserves – an opportunity to appear ahead of your competitors when someone searches for your product or service.
For a long time, the financial services sector lagged behind the rest of the world when it came to social media strategies, thanks to a minefield of regulation that led many to err on the side of caution.
Doing any kind of business in the modern world, however, meant firms had to face their fears and embrace the digital age. If you haven’t yet taken the plunge, or even if you have, here are five tips to get the most from your financial services marketing effort on social media, without getting burned.
1. Put one person in charge
Many a social media gaffe has occurred because the account has been left in the hands of an intern. With the draconian restrictions in place in the financial services, you simply cannot afford this kind of error. So put one qualified person in charge of the social media effort, initiate a clear chain of command and spell out your policy for online interactions.
2. Monitor the account
Hackers take great delight into breaking into Twitter accounts and customers can air their grievances at any time of day. Ensure that there is always a set of eyes on the account, ready to respond to legitimate complaints and problems.
3. Start small
Build up your social media presence slowly. Start with Facebook and Twitter, then move on to the other social networks when you understand what works best for you. Make sure there’s a structure and a strategy in place each and every time.
4. Be careful with humour
If you can do comedy and satire well, you have a powerful tool in your social media effort. Get it wrong, even once, and you can be hauled over the coals very publicly. It may not be worth it for a financial services company. If you do decide to go with humour, be careful not to offend anyone.
5. Be honest
The internet is full of bold claims and wild exaggeration. Any lies or outlandish claims will land you in trouble with the regulators and undermine confidence in what is, after all, a serious business. Be charming, show personality and even invent a character to represent your brand. First and foremost, though, you have to be honest. If in doubt, leave it out.