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• What is Web Log Analytics and Why You Should Use It

  26 June 2024, by Erin

  Can’t use JavaScript tracking on your website? Need a more secure and privacy-friendly way to understand your website visitors? Web log analytics is your answer. This method pulls data directly from your server logs, offering a secure and privacy-respecting alternative.  

  In this blog, we cover what web log analytics is, how it compares to JavaScript tracking, who it is best suited for, and why it might be the right choice for you. 

  What are server logs? 

  Before diving in, let’s start with the basics: What are server logs? Think of your web server as a diary that notes every visit to your website. Each time someone visits, the server records details like: 

  • User agent: Information about the visitor’s browser and operating system. 

  • Timestamp: The exact time the request was made. 

  • Requested URL: The specific page or resource the visitor requested. 

  These “diary entries” are called server logs, and they provide a detailed record of all interactions with your website. 

  Server log example 

  Here’s what a server log looks like: 

  192.XXX.X.X – – [24/Jun/2024:14:32:01 +0000] “GET /index.html HTTP/1.1” 200 1024 “https://www.example.com/referrer.html” “Mozilla/5.0 (Windows NT 10.0; Win64; x64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/91.0.4472.124 Safari/537.36” 

  192.XXX.X.X – – [24/Jun/2024:14:32:02 +0000] “GET /style.css HTTP/1.1” 200 3456 “https://www.example.com/index.html” “Mozilla/5.0 (Windows NT 10.0; Win64; x64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/91.0.4472.124 Safari/537.36” 

  192.XXX.X.X – – [24/Jun/2024:14:32:03 +0000] “GET /script.js HTTP/1.1” 200 7890 “https://www.example.com/index.html” “Mozilla/5.0 (Windows NT 10.0; Win64; x64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/91.0.4472.124 Safari/537.36” 

  192.XXX.X.X – – [24/Jun/2024:14:32:04 +0000] “GET /images/logo.png HTTP/1.1” 200 1234 “https://www.example.com/index.html” “Mozilla/5.0 (Windows NT 10.0; Win64; x64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/91.0.4472.124 Safari/537.36” 

  Breakdown of the log entry 

  Each line in the server log represents a single request made by a visitor to your website. Here’s a detailed breakdown of what each part means: 

  • IP Address: 192.XXX.X.X 
    • This is the IP address of the visitor’s device. 
  • User Identifier: – – 
    • These fields are typically used for user identification and authentication, which are not applicable here, hence the hyphens. 
  • Timestamp: [24/Jun/2024:14:32:01 +0000] 
  • • • The date and time of the request, including the timezone. 
  • Request Line: “GET /index.html HTTP/1.1” 
    • The request method (GET), the requested resource (/index.html), and the HTTP version (HTTP/1.1). 
  • Response Code: 200 
    • The HTTP status code indicates the result of the request (200 means OK). 
  • Response Size: 1024 
    • The size of the response in bytes. 
  • Referrer: “https://www.example.com/referrer.html“ 
    • The URL of the referring page that led the visitor to the current page. 
  • User Agent: “Mozilla/5.0 (Windows NT 10.0; Win64; x64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/91.0.4472.124 Safari/537.36” 
    • Information about the visitor’s browser and operating system. 

  In the example above, there are multiple log entries for different resources (HTML page, CSS file, JavaScript file, and an image). This shows that when a visitor loads a webpage, multiple requests are made to load all the necessary resources. 

  What is web log analytics? 

  Web log analytics is one of many methods for tracking visitors to your site.  

  

  Web log analytics is the process of analysing server log files to track and understand website visitors. Unlike traditional methods that use JavaScript tracking codes embedded in web pages, web log analytics pulls data directly from these server logs. 

  How it works: 

  1. Visitor request: A visitor’s browser requests your website. 
  2. Server logging: The server logs the request details. 
  3. Analysis: These logs are analysed to extract useful information about your visitors and their activities. 

  Web log analytics vs. JavaScript tracking 

  JavaScript tracking 

  JavaScript tracking is the most common method used to track website visitors. It involves embedding a JavaScript code snippet into your web pages. This code collects data on visitor interactions and sends it to a web analytics platform. 

  

  Differences and benefits:
  

  Privacy: 

  • Web log analytics: Since it doesn’t require embedding tracking codes, it is considered less intrusive and helps maintain higher privacy standards. 

  • JavaScript tracking: Embeds tracking codes directly on your website, which can be more invasive and raise privacy concerns. 

  Ease of setup: 

  • Web log analytics: No need to modify your website’s code. All you need is access to your server logs. 

  • JavaScript tracking: Requires adding tracking code on your web pages. This is generally an easier setup process.  

  Data collection: 

  • Web log analytics: Contain requests of users with adblockers (ghostery, adblock, adblock plus, privacy badger, etc.) sometimes making it more accurate. However, it may miss certain interactive elements like screen resolution or user events. It may also over-report data.  

  • JavaScript tracking: Can collect a wide range of data, including Custom dimensions, Ecommerce tracking, Heatmaps, Session recordings, Media and Form analytics, etc. 

  Why choose web log analytics? 

  Enhanced privacy 

  Avoiding embedded tracking codes means there’s no JavaScript running on your visitors’ browsers. This significantly reduces the risk of data leakage and enhances overall privacy. 

  Comprehensive data collection 

  It isn’t affected by ad blockers or browser tracking protections, ensuring you capture more complete and accurate data about your visitors. 

  Historical data analysis 

  You can import and analyse historical log files, giving you insights into long-term visitor behaviour and trends. 

  Simple setup 

  Since it relies on server logs, there’s no need to alter your website’s code. This makes setup straightforward and minimises potential technical issues. 

  Who should use web log analytics? 

  Web log analytics is particularly suited for businesses that prioritise data privacy and security.

  Organisations that handle sensitive data, such as banks, healthcare providers, and government agencies, can benefit from the enhanced privacy.  

  By avoiding JavaScript tracking, these entities minimise data exposure and comply with strict privacy regulations like Sarbanes Oxley and PCI. 

  Why use Matomo for web log analytics? 

  Matomo stands out as a top choice for web log analytics because it prioritises privacy and data ownership

  

  Here’s why: 

  • Complete data control: You own all your data, so you don’t have to worry about third-party access. 
  • IP anonymisation: Matomo anonymises IP addresses to further protect user privacy. 
  • Bot filtering: Automatically excludes bots from your reports, ensuring you get accurate data. 
  • Simple migration: You can easily switch from other tools like AWStats by importing your historical logs into Matomo. 
  • Server log recognition: Recognises most server log formats (Apache, Nginx, IIS, etc.). 

  Start using web log analytics 

  Web log analytics offers a secure, privacy-focused alternative to traditional JavaScript tracking methods. By analysing server logs, you get valuable insights into your website traffic while maintaining high privacy standards.  

  If you’re serious about privacy and want reliable data, give Matomo’s web log analytics a try.  

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

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• Export your data from Universal Analytics or Universal Analytics 360

  26 June 2024, by Erin
  

  How to export your data

  We would love for you to try Matomo, but first let’s get your data from Google:

  • Export your UA360 data
  • Export or archive your UA data

  Import your data to Matomo

  • Here’s how to Import your data to Matomo Cloud
  • Here’s how to import your data to Matomo On-Premise/self-hosted

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• A Guide to Bank Customer Segmentation

  18 July 2024, by 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

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  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.

  
  

  Your email address
  

  Your website address
  

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

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

  
  Your information will be used to create an account on our cloud service. For more information please consult our privacy policy.
  
  
  

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