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• 10 Matomo Features You Possibly Didn’t Know About

  28 octobre 2022, par Erin

  Most users know Matomo as the privacy-focussed web analytics tool with data accuracy, superior to Google Analytics. 

  And we’re thrilled to be that — and more ! 

  At Matomo, our underlying product vision is to provide a full stack of accurate, user-friendly and privacy-mindful online marketing tools. 

  Over the years, we’ve expanded beyond baseline website statistics. Matomo Cloud users also get to benefit from additional powerful tools for audience segmentation, conversion optimisation, advanced event tracking and more. 

  Here are the top 10 advanced Matomo features you wish you knew about earlier (but won’t stop using now !). 

  Funnels

  At first glance, most customer journeys look sporadic. But every marketer will tell you that there is a method to almost every users’ madness. Or more precisely — there’s a method you can use to guide users towards conversions. 

  That’s called a customer journey — a schematic set of steps and actions people complete from developing awareness and interest in your solution to consideration and finally conversion.

  On average, 8 touchpoints are required to turn a prospect into a customer. Though the number can be significantly bigger in B2B sales and smaller for B2C Ecommerce websites. 

  With the Funnels feature, you can first map all the on-site touchpoints (desired actions) for different types of customers. Then examine the results you’re getting as prospects move through these checkbox steps.

  Funnel reports provide :

  • High-level metrics such as “Funnel conversion rate”, “Number of funnel conversions”, “Number of funnel entries”. 
  • Drilled-down reports for each funnel and each tracked action within it. This way you can track the success rates of each step and estimate their contribution to the cumulative effect.

  Segmented funnel reports for specific user cohorts (with Matomo Segmentation enabled).

  

  What makes funnels so fun (pun intended) ? The variety of use cases and configurations ! 

  You can build funnels to track conversion rates for :

  • Newsletter subscriptions
  • Job board applications 
  • Checkout or payment 
  • Product landing pages
  • Seasonal promo campaigns

  …. And pretty much any other page where users must complete a meaningful action. So go test this out. 

  Form Analytics

  On-site forms are a 101 tactic for lead generation. For most service businesses, a “contact request” or a “booking inquiry” submission means a new lead in your pipeline. 

  That said : the average on-site form conversion rates across industries stand at below 50% : 

  • Property – 37% 
  • Telecoms – 40%
  • Software — 46.83%

  That’s not bad, but it could be better. If only you could figure out why people abandon your forms….

  Oh wait, Matomo Form Analytics can supply you with answers. Form Analytics provide real-time information on key form metrics — total views, starter rate, submitter rate, conversions and more.

  

  Separately the average form hesitation time is also provided (in other words, the time a user contemplates if filling in a form is worth the effort). Plus, Matomo also tracks the time spent on form submission.

  You can review : 

  • Top drop-off fields – to understand where you are losing prospects. These fields should either be removed or simplified (e.g., with a dropdown menu) to increase conversions.
  • Most corrected-field – this will provide a clear indication of where your prospects are struggling with a form. Providing help text can simplify the process and increase conversions. 
  • Unesserary fields – with this metric, you’ll know which optional fields your leads aren’t interested in filling in and can remove them to help drive conversions. 

  With Form Analytics, you’ll be able to boost conversions and create a better on-site experience with accurate user data. 

  A/B testing

  Marketing is both an art and a science. A/B testing (or split testing) helps you statistically verify which creative ideas perform better. 

  A good conversion rate optimisation (CRO) practice is to test different elements and to do so often to find your top contenders.

  What can you split test ? Loads of things :

  • Page slogans and call-to-actions 
  • Button or submission form placements
  • Different landing page designs and layouts
  • Seasonal promo offers and banners
  • Pricing information 
  • Customer testimonial placements 

  More times than not, those small changes in page design or copy can lead to a double-digit lift in conversion rates. Accounting software Sage saw a 30% traffic boost after changing the homepage layout, copy and CTAs based on split test data. Depositphotos, in turn, got a 9.32% increase in account registration rate (CR) after testing a timed pop-up registration form. 

  The wrinkle ? A/B testing software isn’t exactly affordable, with tools averaging $119 – $1,995 per month. Plus, you then have to integrate a third-party tool with your website analytics for proper attribution — and this can get messy.

  Matomo saves you the hassle in both cases. An A/B testing tool is part of your Cloud subscription and plays nicely with other features — goal tracking, heatmaps, historic visitor profiles and more. 

  You can run split tests with Matomo on your websites or mobile apps — and find out if version A, B, C or D is the top performer. 

  

  Advertising Conversion Exports

  A well-executed search marketing or banner remarketing campaign can drive heaps of traffic to your website. But the big question is : How much of it will convert ?

  The AdTech industry has a major problem with proper attribution and, because of it, with ad fraud. 

  Globally, digital ad fraud will cost advertisers a hefty $8 billion by the end of 2022. That’s when another $74 million in ad budgets get wasted per quarter. 

  The reasons for ad budget waste may vary, but they often have a common denominator : lack of reliable conversion tracking data.

  Matomo helps you get a better sense of how you spend your cents with Advertising Conversion Reports. Unlike other MarTech analytics tools, you don’t need to embed any third-party advertising network trackers into your website or compromise user privacy.

  Instead, you can easily export accurate conversion data from Matomo (either manually via a CSV file or automated with an HTTPS link) into your Google Ads, Microsoft Advertising or Yandex Ads for cross-validation. This way you can get an objective view of the performance of different campaigns and optimise your budget allocations accordingly. 

  Find out more about tracking ad campaigns with Matomo.

  Matomo Tag Manager

  The marketing technology landscape is close to crossing 10,000 different solutions. Cross-platform advertising trackers and all sorts of customer data management tools comprise the bulk of that growing stack. 

  Remember : Each new tool embed adds extra “weight” to your web page. More tracking scripts equal slower page loading speed — and more frustration for your users. Likewise, extra embeds often means dialling up the developer (which takes time). Or tinkering with the site code yourself (which can result in errors and still raise the need to call a developer). 

  With Tag Manager, you can easily generate tags for :

  • Custom analytics reports 
  • Newsletter signups
  • Affiliates 
  • Form submission tracking 
  • Exit popups and surveys
  • Ads and more

  With Matomo Tag Manager, you can monitor, update or delete everything from one convenient interface. Finally, you can programme custom triggers — conditions when the tag gets activated — and specify data points (variables) it should collect. The latter is a great choice for staying privacy-focused and excluding any sensitive user information from processing. 

  With our tag management system (TMS), no rogue tags will mess up your analytics or conversion tracking. 

  Session recordings

  User experience (UX) plays a pivotal role in your conversion rates. 

  A five-year McKinsey study of 300 publicly listed companies found that companies with strong design practices have 32 percentage points higher revenue growth than their peers. 

  But what makes up a great website design and browsing experience ? Veteran UX designers name seven qualities :

  

  To figure out if your website meets all these criteria, you can use Session Recording — a tool for recording how users interact with your website. 

  By observing clicks, mouse moves, scrolls and form interactions you can determine problematic website design areas such as poor header navigation, subpar button placements or “boring” blocks of text. 

  Such observational studies are a huge part of the UX research process because they provide unbiased data on interaction. Or as Nielsen Norman Group puts it :

  “The way to get user data boils down to the basic rules of usability :

  • Watch what people actually do.
  • Do not believe what people say they do.
  • Definitely don’t believe what people predict they may do in the future.” 

  Most user behaviour analytics tools sell such functionality for a fee. With Matomo Cloud, this feature is included in your subscription. 

  Heatmaps

  While Session Replays provide qualitative insights, Heatmaps supply you with first-hand qualitative insights. Instead of individual user browsing sessions, you get consolidated data on where they click and how they scroll through your website. 

  

  Heatmaps are another favourite among UX designers and their CRO peers because you can :

  • Validate earlier design decisions around information architecture, page layout, button placements and so on. 
  • Develop new design hypotheses based on stats and then translate them into website design improvements. 
  • Identify distractive no-click elements that confuse users and remove them to improve conversions. 
  • Locate problematic user interface (UI) areas on specific devices or operating systems and improve them for a seamless experience.

  To get even more granular results, you can apply up to 100 Matomo segments to drill down on specific user groups, geographies or devices. 

  This way you can make data-based decisions for A/B testing, updating or redesigning your website pages. 

  Custom Alerts

  When it comes to your website, you don’t want to miss anything big — be it your biggest sales day or a sudden nosedive in traffic. 

  That’s when Custom Alerts come in handy. 

  

  With a few clicks, you can set up email or text-based alerts about important website metrics. Once you hit that metric, Matomo will send a ping. 

  You can also set different types of Custom Alerts for your teams. For example, your website administrator can get alerted about critical technical performance issues such as a sudden spike in traffic. It can indicate a DDoS attack (in the worst case) — and timely resolution is crucial here. Or suggest that your website is going viral and you might need to provision extra computing resources to ensure optimal site performance.

  Your sales team, in turn, can get alerted about new form submissions, so that they can quickly move on to lead scoring and subsequent follow-ups. 

  Use cases are plentiful with this feature. 

  Custom Dashboards and Reports

  Did you know you can get a personalised view of the main Matomo dashboards ? 

  By design, we made different website stats available as separate widgets. Hence, you can cherry-pick which stats get a prominent spot. Moreover, you can create and embed custom widgets into your Matomo dashboard to display third-party insights (e.g., POS data).

  Set up custom dashboard views for different teams, business stakeholders or clients to keep them in the loop on relevant website metrics. 

  

  Custom Reports feature, in turn, lets you slice and dice your traffic analytics the way you please. You can combine up to three different data dimensions per report and then add any number of supported metrics to get a personalised analytics report.

  For example, to zoom in on your website performance in a specific target market you can apply “location” (e.g., Germany) and “action type” (e.g., app downloads) dimensions and then get segmented data on metrics such as total visits, conversion rates, revenue and more. 

  Get to know even more ways to customise Matomo deployment.

  Roll Up Report

  Need to get aggregated traffic analytics from multiple web properties, but not ready to pay $150K per year for Google Analytics 360 for that ?

  We’ve got you with Roll-Up Reporting. You can get a 360-degree view into important KPIs like global revenue, conversion rates or form performance across multiple websites, online stores, mobile apps and even Intranet properties.

  

  Setting up this feature takes minutes, but saves you hours on manually exporting and cross-mapping data from different web analytics tools. 

  Channel all those saved hours into more productive things like increasing your conversion rates or boosting user engagement. 

  Avoid Marketing Tool Sprawl with Matomo 

  With Matomo as your website analytics and conversion optimisation app, you don’t need to switch between different systems, interfaces or have multiple tracking codes embedded on your site.

  And you don’t need to cultivate a disparate (and expensive !) MarTech tool stack — and then figure out if each of your tools is compliant with global privacy laws.

  All the tools you need are conveniently housed under one roof. 

  Want to learn more about Matomo features ? Check out product training videos next ! 

  21 day free trial. No credit card required.

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• 7 Fintech Marketing Strategies to Maximise Profits in 2024

  24 juillet 2024, par Erin

  Fintech investment skyrocketed in 2021, but funding tanked in the following two years. A -63% decline in fintech investment in 2023 saw the worst year in funding since 2017. Luckily, the correction quickly floored, and the fintech industry will recover in 2024, but companies will have to work much harder to secure funds.

  F-Prime’s The 2024 State of Fintech Report called 2023 the year of “regulation on, risk off” amid market pressures and regulatory scrutiny. Funding is rising again, but investors want regulatory compliance and stronger growth performance from fintech ventures.

  Here are seven fintech marketing strategies to generate the growth investors seek in 2024.

  Top fintech marketing challenges in 2024

  Following the worst global investment run since 2017 in 2023, fintech marketers need to readjust their goals to adapt to the current market challenges. The fintech honeymoon is over for Wall Street with regulator scrutiny, closures, and a distinct lack of profitability giving investors cold feet.

  Here are the biggest challenges fintech marketers face in 2024 :

  • Market correction : With fewer rounds and longer times between them, securing funds is a major challenge for fintech businesses. F-Prime’s The 2024 State of Fintech Report warns of “a high probability of significant shutdowns in 2024 and 2025,” highlighting the importance of allocating resources and budgets effectively.
  • Contraction : Aside from VC funding decreasing by 64% in 2023, the payments category now attracts a large majority of fintech investment, meaning there’s a smaller share from a smaller pot to go around for everyone else.
  • Competition : The biggest names in finance have navigated heavy disruption from startups and, for the most part, emerged stronger than ever. Meanwhile, fintech is no longer Wall Street’s hottest commodity as investors turn their attention to AI.
  • Regulations : Regulatory scrutiny of fintech intensified in 2023 – particularly in the US – contributing to the “regulation on, risk off” summary of F-Prime’s report.
  • Investor scrutiny : With market and industry challenges intensifying, investors are putting their money behind “safer” ventures that demonstrate real, sustainable profitability, not short-term growth.
  • Customer loyalty : Even in traditional baking and finance, switching is surging as customers seek providers who better meet their needs. To achieve the sustainable growth investors are looking for, fintech startups need to know their ideal customer profile (ICP), tailor their products/services and fintech marketing campaigns to them, and retain them throughout the customer lifecycle.

  

  The good news for fintech marketers is that the market correction is leveling out in 2024. In The 2024 State of Fintech Report, F-Prime says that “heading into 2024, we see the fintech market amid a rebound,” while McKinsey expects fintech revenue to grow “almost three times faster than those in the traditional banking sector between 2023 and 2028.”

  Winning back investor confidence won’t be easy, though. F-Prime acknowledges that investors are prioritising high-performance fintech ventures, particularly those with high gross margins. Fintech marketers need to abandon the growth-at-all-costs mindset and switch to a data-driven optimisation, growth and revenue system.

  7 fintech marketing strategies

  Given the current state of the fintech industry and relatively low levels of investor confidence, fintech marketers’ priority is building a new culture of sustainable profit. This starts with rethinking priorities and switching up the marketing goals to reflect longer-term ambitions.

  So, here are the fintech marketing strategies that matter most in 2024.

  1. Optimise for profitability over growth at all costs

  To progress from the growth-at-all-cost mindset, fintech marketers need to optimise for different KPIs. Instead of flexing metrics like customer growth rate, fintech companies need to take a more balanced approach to measuring sustainable profitability.

  This means holding on to existing customers – and maximising their value – while they acquire new customers. It also means that, instead of trying to make everyone a target customer, you concentrate on targeting the most valuable prospects, even if it results in a smaller overall user base.

  Optimising for profitability starts with putting vanity metrics in their place and pinpointing the KPIs that represent valuable business growth :

  • Gross profit margin
  • Revenue growth rate
  • Cash flow
  • Monthly active user growth (qualify “active” as completing a transaction)
  • Customer acquisition cost
  • Customer retention rate
  • Customer lifetime value
  • Avg. revenue per user
  • Avg. transactions per month
  • Avg. transaction value

  With a more focused acquisition strategy, you can feed these insights into every company level. For example, you can prioritise customer engagement, revenue, retention, and customer service in product development and customer experience (CX).

  To ensure all marketing efforts are pulling towards these KPIs, you need an attribution system that accurately measures the contribution of each channel.

  Marketing attribution (aka multi-touch attribution) should be used to measure every touchpoint in the customer journey and accurately credit them for driving revenue. This helps you allocate the correct budget to the channels and campaigns, adding real value to the business (e.g., social media marketing vs content marketing).

  Example : Mastercard helps a digital bank acquire 10 million high-value customers

  For example, Mastercard helped a digital bank in Latin America achieve sustainable growth beyond customer acquisition. The fintech company wanted to increase revenue through targeted acquisition and profitable engagement metrics.

  Strategies included :

  • A more targeted acquisition strategy for high-value customers
  • Increasing avg. spend per customer
  • Reducing acquisition cost
  • Customer retention

  As a result, Mastercard’s advisors helped this fintech company acquire 10 million new customers in two years. More importantly, they increased customer spending by 28% while reducing acquisition costs by 13%, creating a more sustainable and profitable growth model.

  2. Use web and app analytics to remotivate users before they disengage

  Engagement is the key to customer retention and lifetime value. To prevent valuable customers from disengaging, you need to intervene when they show early signs of losing interest, but they’re still receptive to your incentivisation tactics (promotions, rewards, milestones, etc.).

  By integrating web and app analytics, you can identify churn patterns and pinpoint the sequences of actions that lead to disengaging. For example, you might determine that customers who only log in once a month, engage with one dashboard, or drop below a certain transaction rate are at high risk for churn.

  Using a tool like Matomo for web and app analytics, you can detect these early signs of disengagement. Once you identify your churn risks, you can create triggers to automatically fire re-engagement campaigns. You can also use CRM and session data to personalize campaigns to directly address the cause of disengagement, e.g., valuable content or incentives to increase transaction rates.

  Example : Dynamic Yield fintech re-engagement case study

  In this Dynamic Yield case study, one leading fintech company uses customer spending patterns to identify those most likely to disengage. The company set up automated campaigns with personalised in-app messaging, offering time-bound incentives to increase transaction rates.

  

  With fully automated re-engagement campaigns, this fintech company increased customer retention through valuable engagement and revenue-driving actions.

  3. Identify the path your most valuable customers take

  Why optimise web experiences for everyone when you can tailor the online journey for your most valuable customers ? Use customer segmentation to identify the shared interests and habits of your most valuable customers. You can learn a lot about customers based on where the pages they visit and the content they engage with before taking action.

  Use these insights to optimise funnels that motivate prospects displaying the same customer behaviours as your most valuable customers.

  Get 20-40% more data with Matomo

  One of the biggest issues with Google Analytics and many similar tools is that they produce inaccurate data due to data sampling. Once you collect a certain amount of data, Google reports estimates instead of giving you complete, accurate insights.

  This means you could be basing important business decisions on inaccurate data. Furthermore, when investors are nervous about the uncertainty surrounding fintech, the last thing they want is inaccurate data.

  Matomo is the reliable, accurate alternative to Google Analytics that uses no data sampling whatsoever. You get 100% access to your web analytics data, so you can base every decision on reliable insights. With Matomo, you can access between 20% and 40% more data compared to Google Analytics.

  

  With Matomo, you can confidently unlock the full picture of your marketing efforts and give potential investors insights they can trust.

  Try Matomo for Free

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

  Start for free

  No credit card required

  4. Reduce onboarding dropouts with marketing automation

  Onboarding dropouts kill your chance of getting any return on your customer acquisition cost. You also miss out on developing a long-term relationship with users who fail to complete the onboarding process – a hit on immediate ROI and, potentially, long-term profits.

  The onboarding process also defines the first impression for customers and sets a precedent for their ongoing experience.

  An engaging onboarding experience converts more potential customers into active users and sets them up for repeat engagement and valuable actions.

  Example : Maxio reduces onboarding time by 30% with GUIDEcx

  Onboarding optimisation specialists, GUIDEcx helped Maxio cut six weeks off their onboarding times – a 30% reduction.

  

  With a shorter onboarding schedule, more customers are committing to close the deal during kick-off calls. Meanwhile, by increasing automated tasks by 20%, the company has unlocked a 40% increase in capacity, allowing it to handle more customers at any given time and multiplying its capacity to generate revenue.

  5. Increase the value in TTFV with personalisation

  Time to first value (TTFV) is a key metric for onboarding optimisation, but some actions are more valuable than others. By personalising the experience for new users, you can increase the value of their first action, increasing motivation to continue using your fintech product/service.

  The onboarding process is an opportunity to learn more about new customers and deliver the most rewarding user experience for their particular needs.

  Example : Betterment helps users put their money to work right away

  Betterment has implemented a quick, personalised onboarding system instead of the typical email signup process. The app wants to help new customers put their money to work right away, optimising for the first transaction during onboarding itself.

  

  It personalises the experience by prompting new users to choose their goals, set up the right account for them, and select the best portfolio to achieve their goals. They can complete their first investment within a matter of minutes and professional financial advice is only ever a click away.

  Optimise account signups with Matomo

  If you want to create and optimise a signup process like Betterment, you need an analytics system with a complete conversion rate optimisation (CRO) toolkit. 

  

  Matomo includes all the CRO features you need to optimise user experience and increase signups. With heatmaps, session recordings, form analytics, and A/B testing, you can make data-driven decisions with confidence.

  Try Matomo for Free

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

  Start for free

  No credit card required

  6. Use gamification to drive product engagement

  Gamification can create a more engaging experience and increase motivation for customers to continue using a product. The key is to reward valuable actions, engagement time, goal completions, and the small objectives that build up to bigger achievements.

  Gamification is most effective when used to help individuals achieve goals they’ve set for themselves, rather than the goals of others (e.g., an employer). This helps explain why it’s so valuable to fintech experience and how to implement effective gamification into products and services.

  Example : Credit Karma gamifies personal finance

  Credit Karma helps users improve their credit and build their net worth, subtly gamifying the entire experience.

  

  Users can set their financial goals and link all of their accounts to keep track of their assets in one place. The app helps users “see your wealth grow” with assets, debts, and investments all contributing to their next wealth as one easy-to-track figure.

  

  7. Personalise loyalty programs for retention and CLV

  Loyalty programs tap into similar psychology as gamification to motivate and reward engagement. Typically, the key difference is that – rather than earning rewards for themselves – you directly reward customers for their long-term loyalty.

  That being said, you can implement elements of gamification and personalisation into loyalty programs, too. 

  Example : Bank of America’s Preferred Rewards

  Bank of America’s Preferred Rewards program implements a tiered rewards system that rewards customers for their combined spending, saving, and borrowing activity.

  

  The program incentivises all customer activity with the bank and amplifies the rewards for its most active customers. Customers can also set personal finance goals (e.g., saving for retirement) to see which rewards benefit them the most.

  Conclusion

  Fintech marketing needs to catch up with the new priorities of investors in 2024. The pre-pandemic buzz is over, and investors remain cautious as regulatory scrutiny intensifies, security breaches mount up, and the market limps back into recovery.

  To win investor and consumer trust, fintech companies need to drop the growth-at-all-costs mindset and switch to a marketing philosophy of long-term profitability. This is what investors want in an unstable market, and it’s certainly what customers want from a company that handles their money.

  Unlock the full picture of your marketing efforts with Matomo’s robust features and accurate reporting. Trusted by over 1 million websites, Matomo is chosen for its compliance, accuracy, and powerful features that drive actionable insights and improve decision-making.

   Start your free 21-day trial now. No credit card required.

  Try Matomo for Free

  21 day free trial. No credit card required.

  
  

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