Bolster Digital Sales By Improving Conversion Rates

In an interview with McKinsey, the CEO of Citigroup alluded to shopping cart abandonment in digital sales of banking products when he mentioned that today’s digital customers “just stop filling out the application” when they’re asked for “things that weren’t necessary”.

Long a bugbear of ecommerce, this problem has started hampering the BFSI industry’s efforts to boost digital distribution of checking accounts, mortgages, certificate of deposit, insurance policies, and other financial products. Since these are generally more complex than books, CDs, gadgets and the other “usual suspects” purchased online, banks and financial services providers tend to suffer even higher abandonment rates than ecommerce companies.

But it doesn’t have to be that way.

Enter GTM360 Conversion Rate Optimization.

Under this service, we test drive your digital sales process, identify friction hotspots and provide remedial measures across all stages of the purchase funnel. Our CRO service could help you to convert more browsers to buyers and maximize bang for your digital marketing buck.

Acutely sensitive to the compliance challenges faced by the BFSI industry, our methodology does not hinge on intrusive testing or rely on insertion of tracking code into your website or mobile apps. Since we focus exclusively on CRO, we’re not subject to the usual conflict of interest faced by digital advertising providers who benefit by recommending higher ad spends. While we’re second to none in technical skills, we pride ourselves on our unmatched domain expertise in BFSI resulting from our experience of implementing an array of fintech solutions at several financial services companies in USA, UK, Middle East, North Africa and India for over a decade.

Over the years, many companies have benefited from our CRO service. One of them is a leading private sector bank that pioneered the online sale of checking products. We studied the bank’s Instant Account portal and recommended several remedial measures around product specifications, branch nomenclature and email delivery timing.  Implementation of our recommendations enhanced the CX of the website visitors as described in detail here. As a result of our work, the bank was able to achieve a manifold increase in conversion rate of visitors to customers.

So can you.

Should you wish to explore ways to bolster your digital sales by using our unique combination of BFSI domain expertise and Conversion Rate Optimization experience, we’d be happy to discuss the next steps at your earliest convenience.

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