Case Study - Online Financial Services Company

An online financial services company approached Teleconomy with the aim of using our website benchmarking experience to look at the sales effectiveness of their site and benchmark its performance against competitors. They used the results of this to inform their development strategy for the next 12 months.

Teleconomy initially led two focus groups designed to explore the company’s website performance, what customer expectations were, and how competitors compared. This gave Teleconomy valuable information about the context of site use: why people visited the site in the first place, what consumers hoped to get from the site, and how these consumers felt after exploring the site and competitors.

Based on the results of these focus groups, Teleconomy were able to tailor two online surveys based on our website benchmarking methodology to quantify consumer expectations against actual performance. These surveys included specific questions about the sales effectiveness of the site, such as the effect of advertising, the impact of the overall presentation, and the influence of banner advertisements. The same methodology was also used to measure competitor sites.

The surveys gave the company the unique opportunity to have a quantifiable analysis of consumer expectations, and see how different elements of the site measured up, such as navigation versus content. They also gained valuable insight into the relative success or failure of their advertising and selling techniques online. For example, our survey found that existing customers were keen to service their account as quickly as possible and viewed advertising for unrelated products and services as an irritating distraction. First-time users, on the other hand, were more interested in the advertising so they could gather general information about what the company offered.

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