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• A Guide to Bank Customer Segmentation

  18 juillet 2024, par Erin

  Banking customers are more diverse, complex, and demanding than ever. As a result, banks have to work harder to win their loyalty, with 75% saying they would switch to a bank that better fits their needs.

  The problem is banking customers’ demands are increasingly varied amid economic uncertainties, increased competition, and generational shifts.

  If banks want to retain their customers, they can’t treat them all the same. They need a bank customer segmentation strategy that allows them to reach specific customer groups and cater to their unique demands.

  What is customer segmentation ?

  Customer segmentation divides a customer base into distinct groups based on shared characteristics or behaviours.

  This allows companies to analyse the behaviours and needs of different customer groups. Banks can use these insights to target segments with relevant marketing throughout the customer cycle, e.g., new customers, inactive customers, loyal customers, etc.

  You combine data points from multiple segmentation categories to create a customer segment. The most common customer segmentation categories include :

  • Demographic segmentation
  • Website activity segmentation
  • Geographic segmentation
  • Purchase history segmentation
  • Product-based segmentation
  • Customer lifecycle segmentation
  • Technographic segmentation
  • Channel preference segmentation
  • Value-based segmentation

  

  By combining segmentation categories, you can create detailed customer segments. For example, high-value customers based in a particular market, using a specific product, and approaching the end of the lifecycle. This segment is ideal for customer retention campaigns, localised for their market and personalised to satisfy their needs.

  

  Matomo’s privacy-centric web analytics solution helps you capture data from the first visit. Unlike Google Analytics, Matomo doesn’t use data sampling (more on this later) or AI to fill in data gaps. You get 100% accurate data for reliable insights and customer segmentation.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  Why is customer segmentation important for banks ?

  Customer segmentation allows you to address the needs of specific groups instead of treating all of your customers the same. This has never been more important amid a surge in bank switching, with three in four customers ready to switch to a provider that better suits their needs.

  Younger customers are the most likely to switch, with 19% of 18-24 year olds changing their primary bank in the past year (PDF).

  Customer expectations are changing, driven by economic uncertainties, declining trust in traditional banking, and the rise of fintech. Even as economic pressures lift, banks need to catch up with the demands of maturing millennials, Gen Z, and future generations of banking customers.

  Switching is the new normal, especially for tech-savvy customers encouraged by an expanding world of digital banking options.

  To retain customers, banks need to know them better and understand how their needs change over time. Customer retention provides the insights banks need to understand these needs at a granular level and the means to target specific customer groups with relevant messages.

  At its core, customer segmentation is essential to banks for two key reasons :

  • Customer retention : Holding on to customers for longer by satisfying their personal needs.
  • Customer lifetime value : Maximising ongoing customer revenue through retention, purchase frequency, cross-selling, and upselling.

  Here are some actionable bank customer segmentation strategies that can achieve these two objectives :

  Prevent switching with segment analysis

  Use customer segmentation to prevent them from switching to rivals by knowing what they want from you. Analyse customer needs and how they change throughout the lifecycle. Third-party data reveals general trends, but what do your customers want ?

  

  Use first-party customer data and segmentation to go beyond industry trends. Know exactly what your customers want from you and how to deliver targeted messages to each segment — e.g., first-time homebuyers vs. retirement planners.

  Keep customers active with segment targeting

  Target customer segments to keep customers engaged and motivated. Create ultra-relevant marketing messages and deliver them with precision to distinct customer segments. Nurture customer motivation by continuing to address their problems and aspirations.

  Improve the quality of services and products

  Knowing your customers’ needs in greater detail allows you to adapt your products and messages to cater to the most important segments. Customers switch banks because they feel their needs are better met elsewhere. Prevent this by implementing customer segmentation insights into product development and marketing.

  Personalise customer experiences by layering segments

  Layer segments to create ultra-specific target customer groups for personalised services and marketing campaigns. For example, top-spending customers are one of your most important segments, but there’s only so much you can do with this. However, you can divide this group into even narrower target audiences by layering multiple segments.

  For example, segmenting top-spending customers by product type can create more relevant messaging. You can also segment recent activity and pinpoint specific usage segments, such as those with a recent drop in transactions.

  Now, you have a three-layered segment of high-spending customers who use specific products less often and whom you can target with re-engagement campaigns.

  Maximise customer lifetime value

  Bringing all of this together, customer segmentation helps you maximise customer lifetime value in several ways :

  • Prevent switching
  • Enhance engagement and motivation
  • Re-engage customers
  • Cross-selling, upselling
  • Personalised customer loyalty incentives

  The longer you retain customers, the more you can learn about them, and the more effective your lifetime value campaigns will be.

  Balancing bank customer segmentation with privacy and marketing regulations

  Of course, customer segmentation uses a lot of data, which raises important legal and ethical questions. First, you need to comply with data and privacy regulations, such as GDPR and CCPA. Second, you also have to consider the privacy expectations of your customers, who are increasingly aware of privacy issues and rising security threats targeting financial service providers.

  If you aim to retain and maximise customer value, respecting their privacy and protecting their data are non-negotiables.

  Regulators are clamping down on finance

  Regulatory scrutiny towards the finance industry is intensifying, largely driven by the rise of fintech and the growing threat of cyber attacks. Not only was 2023 a record-breaking year for finance security breaches but several compromises of major US providers “exposed shortcomings in the current supervisory framework and have put considerable public pressure on banking authorities to reevaluate their supervisory and examination programs” (Deloitte).

  Banks face some of the strictest consumer protections and marketing regulations, but the digital age creates new threats.

  In 2022, the Consumer Financial Protection Bureau (CFPB) warned that digital marketers must comply with finance consumer protections when targeting audiences. CFPB Director Rohit Chopra said : “When Big Tech firms use sophisticated behavioural targeting techniques to market financial products, they must adhere to federal consumer financial protection laws.”

  This couldn’t be more relevant to customer segmentation and the tools banks use to conduct it.

  Customer data in the hands of agencies and big tech

  Banks should pay attention to the words of CFPB Director Rohit Chopra when partnering with marketing agencies and choosing analytics tools. Digital marketing agencies are rarely experts in financial regulations, and tech giants like Google don’t have the best track record for adhering to them.

  Google is constantly in the EU courts over its data use. In 2022, the EU ruled that the previous version of Google Analytics violated EU privacy regulations. Google Analytics 4 was promptly released but didn’t resolve all the issues.

  Meanwhile, any company that inadvertently misuses Google Analytics is legally responsible for its compliance with data regulations.

  Banks need a privacy-centric alternative to Google Analytics

  Google’s track record with data regulation compliance is a big issue, but it’s not the only one. Google Analytics uses data sampling, which Google defines as the “practice of analysing a subset of data to uncover meaningful information from a larger data set.”

  This means Google Analytics places thresholds on how much of your data it analyses — anything after that is calculated assumptions. We’ve explained why this is such a problem before, and GA4 relies on data sampling even more than the previous version.

  In short, banks should question whether they can trust Google with their customer data and whether they can trust Google Analytics to provide accurate data in the first place. And they do. 80% of financial marketers say they’re concerned about ad tech bias from major providers like Google and Meta.

  

  Matomo is the privacy-centric alternative to Google Analytics, giving you 100% data ownership and compliant web analytics. With no data sampling, Matomo provides 20-40% more data to help you make accurate, informed decisions. Get the data you need for customer segmentation without putting their data at risk.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  Bank customer segmentation examples

  Now, let’s look at some customer segments you create and layer to target specific customer groups.

  Visit-based segmentation

  Visit segmentation filters audiences based on the pages they visit on your website and the behaviors they exhibit—for example, first-time visitors vs. returning visitors or landing page visitors vs. blog page visitors.

  If you look at HSBC’s website, you’ll see it is structured into several categories for key customer personas. One of its segments is international customers living in the US, so it has pages and resources expats, people working in the US, people studying in the US, etc. 

  

  By combining visit-based segmentation with ultra-relevant pages for specific target audiences, HSBC can track each group’s demand and interest and analyse their behaviours. It can determine which audiences are returning, which products they want, and which messages convert them.

  Demographic segmentation

  Demographic segmentation divides customers by attributes such as age, gender, and location. However, you can also combine these insights with other non-personal data to better understand specific audiences.

  For example, in Matomo, you can segment audiences based on the language of their browser, the country they’re visiting from, and other characteristics. So, in this case, HSBC could differentiate between visitors already residing in the US and those outside of the country looking for information on moving there.

  

  It could determine which countries they’re visiting, which languages to localise for, and which networks to run ultra-relevant social campaigns on.

  Interaction-based segmentation

  Interaction-based segmentation uses events and goals to segment users based on their actions on your website. For example, you can segment audiences who visit specific URLs, such as a loan application page, or those who don’t complete an action, such as failing to complete a form.

  

  With events and goals set up, you can track the actions visitors complete before making purchases. You can monitor topical interests, page visits, content interactions, and pathways toward conversions, which feed into their customer journey.

  From here, you can segment customers based on their path leading up to their first purchase, follow-up purchases, and other actions.

  Purchase-based segmentation

  Purchase-based segmentation allows you to analyse the customer behaviours related to their purchase history and spending habits. For example, you can track the journey of repeat customers or identify first-time buyers showing interest in other products/services.

  You can implement these insights into your cross-selling and upselling campaigns with relevant messages designed to increase retention and customer lifetime value.

  Get reliable website analytics for your bank customer segmentation needs

  With customers switching in greater numbers, banks need to prioritise customer retention and lifetime value. Customer segmentation allows you to target specific customer groups and address their unique needs — the perfect strategy to stop them from moving to another provider.

  Quality, accurate data is the key ingredient of an effective bank customer segmentation strategy. Don’t accept data sampling from Google Analytics or any other tool that limits the amount of your own data you can access. Choose a web analytics tool like Matamo that unlocks the full potential of your website analytics to get the most out of bank customer segmentation.

  Matomo is trusted by over 1 million websites globally, including many banks, for its accuracy, compliance, and reliability. Discover why financial institutions rely on Matomo to meet their web analytics needs.

  Start collecting the insights you need for granular, layered segmentation — without putting your bank customer data at risk. Request a demo of Matomo now.

  Try Matomo for Free

  21 day free trial. No credit card required.

  
  

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• Multi-Site Management (Quick-Start Guide)

  18 juillet 2024, par Erin

  Do you run multiple websites ?

  Or, you’re expanding from one to two sites ?

  Multi-site management isn’t an easy task.

  While there are dozens of reasons why you may need to operate several sites, like brick and mortar stores opening new locations in different regions, you need to ensure you’re following the right strategies so you remain successful.

  So, how do you actually manage multiple websites at the same time without spreading yourself thin ?

  Using a single dashboard.

  In this guide, we’ll cover everything you need to know about managing multiple sites in a single location at once so you can lead a successful digital strategy.

  What is multi-site management ?

  Multi-site management is the process of organising and operating multiple websites from a single location. It helps with congruent branding and improved productivity.

  Enterprise businesses that use multiple, language-specific versions of their site to target their audience in specific countries or regions can also benefit from managing their multiple sites from a single location. 

  

  By analysing a few websites at once, marketers and analysts can oversee a few different business websites without having to switch between multiple platforms and technologies.

  Whatever the reason is for managing multiple sites, multi-site management helps marketers and analysts establish a consistent brand presence, improve workflow efficiencies and scale operations.

  7 Benefits of multi-site management

  Multi-site management allows you to navigate and control a few websites all in one centralised location.

  

  Here are a few of the main benefits of multi-site management :

  1. Save time by reusing code between websites

  Saving time is the main benefit of multi-site management. Rather than managing websites from multiple platforms, logins and infrastructures, you can manage everything from one place.

  Multi-site management allows you to easily reuse core code, infrastructure and other digital assets from other sites all within one dashboard.

  So, when you need to update all of your websites, you can do it all at once in a fraction of the time.

  2. Improve productivity by having everything in one place

  How many tools do you currently use for your job on a daily basis ?

  Five ? Ten ?

  Now, imagine adding on another handful of tools, logins and technology for every site you manage.

  It’s a lot, especially if you’re managing dozens of logins, usernames and passwords.

  With multi-site management, you don’t need to have multiple login credentials. Everything’s all in one place and within one system.

  You don’t need to switch between multiple tools and platforms to get things done.

  The same strategy applies to your web analytics. If you want to streamline your productivity, make sure you’re tracking all of the data from your different websites in one place. Matomo lets you track multiple sites, domains and subdomains in one centralised location with the ‘All Websites’ dashboard which is a roll-up report. This is ideal for enterprises managing and analysing numerous sites.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  3. Maintain brand image with consistent design across sites

  If you have multiple websites, subsidiaries or sister companies, it can take a great deal of effort to maintain branding consistency.

  But, if you’re leveraging a multi-site content management system, you can update your branding and design between all sites at the same time.

  If you need to make a change with your design, you don’t need to update each individual site with your new initiative. Instead, you can update multiple sites at once, allowing your visual branding to stay congruent, giving you uniformity in messaging.

  The result is an optimised user experience, which helps you increase trust with your audience, improve engagement and keep them coming back for years to come.

  4. Increase security through centralised management

  The greater your digital presence is, the more you can reach a wider range of people.

  But, there’s one downside : you expose yourself to more risk.

  Keeping multiple websites secure isn’t as easy to do if you’re leveraging dozens of different platforms and logins. 

  Instead, when you have all of your websites in one location, it can help you easily track every document. You can also control site versions for easy updates to prevent malicious attacks.

  5. Optimise scalability and flexibility

  If you plan on scaling your companies and digital presence, you need to ensure you’re able to do so without having to tear down your entire infrastructure or spend a ton of money upfront.

  For enterprise companies, multi-site management allows you to easily launch new regional sites as your company expands.

  Plus, if you have new product or marketing campaigns, you can simply add on microsites as needed by simply adding it to your current website lineup.

  This allows you to stay flexible in your marketing and growth strategies without adding extra risk or financial burden.

  6. Improve targeting and personalisation in marketing

  If you want to reach your audience better, but you’re managing multiple websites, it can be hard to not spread yourself too thin.

  But, if you’re managing a few websites in one place, it’s easier to track your audience’s interests, behaviour, wants and needs.

  By using a web analytics tool like Matomo to track the performance of multiple websites, you can see what’s resonating with your audience so you’re able to improve your targeting and offer personalised campaigns.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  7. Streamline collaboration between team members

  Making your team juggle multiple platforms, websites and tools is a surefire way to give them a headache.

  Multi-site management is one of the best ways to bring your entire team into one centralised location so you can foster seamless collaboration without leaving your team confused or frustrated.

  By placing your entire website management in one place, markters, designers, developers, writers and other team members can collaborate effectively so you can get more done in less time.

  With multi-site management, you bring your entire team into a single location to work on your websites so you can speed up your content creation process, speed up problem solving and streamline communication.

  6 Best practices of multi-site management

  When you have multiple websites, you can expand your brand presence. But, one main problem arises : it becomes overwhelming for anyone managing them.

  Since each website comes with its own platform, login credentials and assets, it becomes incredibly difficult for developers, marketers and others to maintain the sites. And, if your sites aren’t looked after properly, you could end up with technical issues and branding inconsistencies, causing you to lose conversions and negatively impact the user experience.

  Thankfully, multi-site management can help you streamline your efforts, improve productivity and scale your business.

  But, before you dive into your multi-site management process, you need to ensure you implement the right strategy.

  

  Here are a few best practices to follow to succeed with multi-site management :

  1. Use a multi-site CMS

  If you want to manage multiple websites, you need to make sure you’re leveraging a CMS that offers multi-site management capabilities.

  A multi-site CMS allows you to make simple content, design or management changes simultaneously without having to switch between different systems.

  Here are a few examples of CMS’ that offer multi-site management :

  • WordPress
  • Sanity
  • Drupal

  2. Integrate a headless CMS

  One of the most versatile types of content management systems is what’s known as a “headless CMS.”

  This is a CMS that lets you disconnect the front end from the back end of your website management.

  Here are a few examples of headless (and open source) CMS’ :

  • Strapi
  • Directus
  • Ghost

  A headless CMS can help you add versatility in the way you present content across multiple sites. It uses an API to give you more flexibility so you can push content to websites as well as apps, etc.

  Using a headless CMS can help you improve page load times, website performance and user experience by simplifying your tech stack.

  3. Implement cross-domain and mult-isite Matomo analytics tracking

  If you want to track the website analytics data of multiple sites, you need to implement cross-domain tracking.

  The best way to do this is by leveraging a web analytics solution like Matomo. It lets you track the performance of multiple subdomains or websites.

  With Matomo, you get easy data grouping and data roll-up reporting for streamlined tracking.

  

  This means you can track the individual performance of each site or group them together to see the shared performance.

  4. Enable multiuser management

  If you’re working with different team members who need access to your CMS, then you should consider enabling multiuser management.

  This allows several people to work within your multi-site CMS and also gives you the ability to grant or restrict access to certain abilities within the platform.

  This is handy if you have a few different stakeholders working in your CMS.

  By enabling different user permissions and access, you can improve the security of your website and protect sensitive company information.

  5. Leverage composable content

  Creating a few different websites is a great way to increase your brand reach. But, it can be time-consuming having to continuously create and update content within multiple sites.

  That’s where composable content comes in.

  It allows you to create similar content between sites using pre-made “blocks.” Content blocks act as templates so you can quickly add similar content pieces to each site without having to start over from scratch each time.

  This speeds up productivity for your designers, writers and editors and keeps brand image consistent across different sites.

  6. Use version control

  What happens if you update all of your websites with a redesign, but it flops ?

  Well, rather than having to tear it all down and redesign your site infrastructure, you can leverage version control to restore your website to a previous version.

  Version control is especially handy when you’re managing multiple sites at once and you have multiple team members working in your CMS.

  Version control is also helpful if you’re A/B testing different content. By saving previous versions of your websites, you can run tests to help you optimise your web performance. 

  For example, if you use Matomo’s A/B testing feature to experiment with different landing page designs for a lead magnet, but find that your previous version performed better, you can simply restore your websites to a previous version in seconds.

  Track web analytics for multiple websites with Matomo

  If you’re looking to expand your digital presence, then creating new websites is one of the best ways to grow your brand.

  Multi-site management can help you save time, improve productivity and maintain a consistent brand image across your empire.

  One challenge of multi-site management is tracking the performance of your websites.

  That’s where Matomo has you covered.

  Matomo is a privacy-friendly web analytics tool that collects, stores, and tracks data across multiple websites and subdomains, allowing you to improve your performance. 

  With over 1 million websites using Matomo, you can rely on it for accurate data without sampling, ensuring compliance with privacy regulations like GDPR and CCPA. 

  Matomo is especially beneficial for enterprises. It offers advanced roll-up reporting, enabling you to see the performance of multiple websites in one centralised dashboard. This feature, along with heatmaps, session recordings, and A/B testing, provides deeper insights into your website performance.

  Discover how Matomo can transform your web analytics with a demo. Request your demo now.

  Try Matomo for Free

  21 day free trial. No credit card required.

  
  

  Your email address
  

  Your website address
  

  Your Analytics subdomain will be .matomo.cloud (change)

  Choose your analytics subdomain
  

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  I accept the terms and conditions and data processing agreement (DPA)

  
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• lavc/riscv : depend on RVB and simplify accordingly

  27 juillet 2024, par Rémi Denis-Courmont

  lavc/riscv : depend on RVB and simplify accordingly
  There is no known (real) hardware with V and without the complete B
  
  extension. B was indeed required in the RISC-V application profile from
  
  2022, earlier than V. There should not be any relevant hardware in the
  
  future either.
  In practice, different R-V Vector optimisations in FFmpeg already depend on
  
  every constituent of the B extension anyhow, so it would not work well.
  

  • [DH] libavcodec/riscv/aacencdsp_init.c
  • [DH] libavcodec/riscv/aacpsdsp_init.c
  • [DH] libavcodec/riscv/alacdsp_init.c
  • [DH] libavcodec/riscv/audiodsp_init.c
  • [DH] libavcodec/riscv/exrdsp_init.c
  • [DH] libavcodec/riscv/flacdsp_init.c
  • [DH] libavcodec/riscv/fmtconvert_init.c
  • [DH] libavcodec/riscv/h264_chroma_init_riscv.c
  • [DH] libavcodec/riscv/h264dsp_init.c
  • [DH] libavcodec/riscv/huffyuvdsp_init.c
  • [DH] libavcodec/riscv/jpeg2000dsp_init.c
  • [DH] libavcodec/riscv/llauddsp_init.c
  • [DH] libavcodec/riscv/lpc_init.c
  • [DH] libavcodec/riscv/opusdsp_init.c
  • [DH] libavcodec/riscv/rv40dsp_init.c
  • [DH] libavcodec/riscv/sbrdsp_init.c
  • [DH] libavcodec/riscv/svqenc_init.c
  • [DH] libavcodec/riscv/takdsp_init.c
  • [DH] libavcodec/riscv/utvideodsp_init.c
  • [DH] libavcodec/riscv/vorbisdsp_init.c
  • [DH] libavcodec/riscv/vp7dsp_init.c
  • [DH] libavcodec/riscv/vp8dsp_init.c