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• SEO for Financial Services : The Ultimate Guide

  26 juin 2024, par Erin

  You know that having a digital marketing strategy is crucial for helping your financial services business capture the attention and trust of potential customers and thrive in an increasingly competitive digital landscape.

  The question is — what’s the best way to go about improving your ranking in SERPs and driving organic traffic to your website ? 

  That’s where SEO strategies for financial services come into play. 

  This article will cover everything your company needs to know about SEO for financial services — from the unique challenges you’ll face to the proven tips and strategies you can implement to boost your ranking in SERPs. 

  What is SEO for financial services ? 

  SEO — short for search engine optimisation — refers to optimising your content and website for search engines, particularly Google. 

  The main goal of an SEO strategy is to make your site search-engine-friendly, show that you’re a trusted source and increase the likelihood of appearing in SERPs when potential customers look up relevant keywords — ultimately driving organic visibility and traffic. 

  Now, when it comes to evaluating the success of your financial services SEO strategy, there are certain key performance indicators (KPIs) you should keep track of — including : 

  • SEO ranking, or the position your web pages show up in SERPs for specific search terms (the terms and phrases identified during keyword research) 
  • SEO Score, which shows a website’s overall SEO health and indicates how well it will rank in SERPs
  • Impressions, or the number of times users saw your pages when they looked up relevant search terms 
  • Organic traffic, or the number of people that visit your website via search engines
  • Engagement metrics, such as time on page, pages per session, and bounce rate 
  • Conversion rates from website traffic, including both “hard” conversions (lead generation and purchases) and “soft” conversions (such as newsletter subscriptions) 

  It’s important to note that the financial services industry is incredibly competitive — especially given the large-scale digital transformations in the financial sector and the rise of fintech companies. 

  According to a 2022 report, the global market for financial services was valued at $25.51 trillion. Moreover, it’s expected to grow at a compound annual growth rate of 9.7%, reaching $58.69 trillion by 2031.

  Importance and challenges of financial services SEO 

  The financial services industry is changing rapidly, mainly driven by globalisation, innovation, shifting economies, and compliance risks. It’s crucial for financial service companies to develop effective SEO strategies that align with the opportunities and challenges unique to this sector. 

  Certain benefits of a well-executed SEO strategy, namely, better search engine rankings, driving more search traffic, delivering a better user experience, and maximising ROI and promoting business growth, are “universal.” 

  

  Financial services SEO efforts can provide a number of benefits. It can help you : 

  • Improve lead generation and customer acquisition ; the more search traffic you get, the higher the chances of converting visitors into potential clients 
  • Build a strong online presence and brand awareness, which comes as a result of increased visibility in organic search results and reaching a wider audience 
  • Increase your credibility and authority within the industry, primarily through high-quality content that shows your expertise and backlinks from authoritative websites 
  • Gain a competitive edge by analysing and outranking your main competitors 

  That said, financial services companies face some unique challenges :

  High competition : The digital arena for financial services is highly competitive, with numerous companies vying for the same business.

  YMYL (Your Money or Your Life) content : Google’s YMYL framework places higher scrutiny on financial content, demanding higher standards for experience, expertise, authoritativeness, and trustworthiness. We’ll cover this topic in greater detail shortly.

  Regulatory changes and compliance : The financial services sector is characterised by constant regulatory changes and new compliance requirements that businesses must navigate. Sometimes this makes it difficult to gather insights and market to your audience. 

  As a privacy-fist, compliant web analytics solution Matomo can provide valuable insights to support your SEO efforts. Matomo ensures compliance with privacy laws — including GDPR, CCPA and more — and provides 20-40% more comprehensive data than Google Analytics.

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  8 proven strategies for implementing SEO for financial services 

  SEO for financial services involves a wide range of strategies — including keyword optimisation, technical SEO, content marketing, link building and other off-page SEO activities — that can help your website rank higher in SERPs. 

  Of course, it’s not just about better search rankings. It’s about attracting the right search traffic to your website — potential clients interested in your financial services.

  Here are some proven financial services SEO strategies you should implement : 

  1. Build trust and topical authority 

  Financial services content typically covers more complex topics that could impact the reader’s financial stability and well-being — or, as Google calls them, “Your Money or Your Life” topics (YMYL). As such, it’s subject to much stricter quality standards. 

  To improve your YMYL content, you’ll need to apply the E-E-A-T framework — short for “Experience, Expertise, Authority, and Trust”. 

  This is a key part of Google’s search rater guidelines for evaluating a website’s quality and credibility. 

  The E-E-A-T standards become even more relevant to financial topics such as investment strategies, financial advice, taxes, and retirement planning. 

  In that sense, the overarching goal of your content strategy should be to build customer trust by demonstrating real expertise and topical authority through in-depth educational content. 

  2. Earn reputable external links through link-building 

  You also need to monitor your off-page SEO—factors outside your website that can’t be directly controlled but can still build trust and contribute to better ranking in SERPs. 

  These include everything from social media engagement and unlinked brand mentions in blog posts, news articles, user reviews and social media discussions — to inbound links from other reputable websites in the finance industry.

  That brings us to high-quality backlinks as a significant factor for YMYL content that can improve your financial services website’s SEO performance : 

  Earning external links can improve your domain authority and reinforce your brand’s position as a reliable source in the financial services niche — which, in turn, can contribute to better search engine rankings and drive more website traffic. 

  Here are a few link-building strategies you can try : 

  • Use tools like Ahrefs and Semrush to look for reputable websites and then request for them to link to your site
  • Demonstrate your expertise and get backlinks from reputable media outlets through Help a Reporter Out (HARO) 
  • Reach out to authoritative websites that mention your company without linking to you directly and ask them to include a link to your websit

  3. Conduct an SEO audit 

  An SEO audit is a key step in developing and implementing a successful financial SEO strategy. It sets the foundation for all your future efforts — and allows you to measure progress further down the line. 

  You’ll need to perform a comprehensive SEO audit, covering both the existing content and technical aspects of your website — including : 

  • Indexing issues
  • Internal linking and site architecture 
  • Duplicate content 
  • Backlink profile 
  • Broken links 
  • Page titles and metadata 

  It’s possible to do this manually, third-party tools will allow you to dig deeper and speed up the process. Ahrefs and Screaming Frog — to name a few — can help you evaluate your website’s overall health and structure. And, with a web analytics platform like Matomo you can easily measure the success of your SEO efforts.

  But this shouldn’t be a one-time thing ; be sure to perform audits regularly — ideally every six months. 

  4. Understand your target audience

  You can’t create helpful content without learning about your customers’ needs, pain points and preferences. 

  For example, a financial service provider focusing on individuals nearing retirement would prioritise content that educates on retirement planning strategies, investment options for seniors, and tax-efficient withdrawal strategies, aiming to guide clients through the transition from saving to managing retirement funds effectively.

  In contrast, a provider targeting small business owners would emphasise content related to small business loans, funding options, and financial management advice tailored to entrepreneurs seeking to expand their businesses and navigate financial challenges effectively.

  So, before you dive into keyword research and content creation, ensure you have a deep understanding of your target audience. 

  Identifying different audience categories and developing detailed customer personas for each segment is crucial for creating content that resonates with them and aligns with their search intent. 

  Matomo’s Segmentation tool can be of huge help here. It allows you to divide your audience into smaller groups based on factors like demographics and website interactions : 

  

  In addition to that, you can : 

  • Engage with your frontline teams that interact directly with clients to gain deeper insights into prospects’ needs and concerns
  • Track social media channels and other online discussions related to the financial world and your audience
  • Gather qualitative insights from your site visitors through the Matomo Surveys plugin (questions like “What financial services are you most interested in ?” or “Are there any specific financial topics you would like us to cover in more detail ?” will help you understand your visitors better)
  • Watch out for financial trends and developments that could directly impact your audience’s needs and preferences 

  5. Identify new opportunities through keyword research 

  Comprehensive keyword research can help you identify key search terms — specific phrases that potential customers may use when looking up things related to their finances. 

  It’s best to start with a brainstorming session and assemble a list of relevant topics and core keywords. Once you have an initial list, use tools like Ahrefs and Semrush to get more keyword ideas based on your seed keywords, including : 

  • More specific long-tail keywords — and often less competitive — indicate a clearer intent to convert. For example :

  • • “low-risk investment options for retirees”
    • “financial planning for freelancers”
    • “small business loan requirements”

  • Keywords that your competitors already rank for. For instance :

  • • If a competing investment firm ranks for “best investment strategies for beginners,” targeting similar keywords can attract novice investors.
    • A competitor’s high ranking for “life insurance quotes online” suggests potential to optimise your own content around similar terms.
  • Location-specific keywords (if you have physical store locations)

  Google Search Console can provide information about the search terms you’re already ranking for — including underperforming content that may benefit from further optimisation. If you want deeper SEO insights, you can import your search keywords into Matomo. 

  While you’re at it, try Matomo’s Site Search feature, too. It will show you the exact terms and phrases visitors enter when using your website’s search bar — and you can use that information to find more content opportunities.

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  Of course, not all keywords are equal — and it would be impossible to target them all. Instead, prioritise keywords based on two factors : 

  • Search volume, which indicates the “popularity” of a particular query
  • Keyword difficulty, which indicates how hard it’ll be to rank for a specific term, depending on domain authority, search volume and competition 

  

  6. Find your main organic competitors 

  Besides performing an SEO audit, finding your core keywords, and researching your target market, competitor analysis is another crucial aspect of SEO for finance companies. 

  Before you start, it’s important to differentiate between your main organic search competitors and your direct industry competitors : 

  You’ll always have direct competitors — other financial services brands offering similar products and services and targeting the same audience as you.

  However, regarding search results, your financial services business won’t be in a “bubble” specifically reserved for the financial industry. Depending on the specific search queries — and the search intent behind them — SERPs could feature a wider range of online content, from niche finance blogs to news websites, and huge financial publications.

  Even if another company doesn’t offer the same services, they’re an organic competitor if you’re both ranking for the same keywords. 

  Once you determine who your main organic competitors are, you can analyse their websites to : 

  • Check how they’re getting search traffic 
  • See which types of content they’re publishing 
  • Find and fill in any potential content gaps 
  • Assess the quality of their backlink profile 
  • See if they currently have any featured snippets

  7. Consider local SEO

  According to a 2023 survey, 21% of US-based consumers report using the internet to look up local businesses daily, while another 32% do so multiple times a week. 

  Local SEO is worth investing in as a financial service provider, especially with physical locations. Prospective clients will typically look up nearby financial services when they need additional information or are ready to engage in financial planning, investment, or other financial activities.

  Here are a few suggestions on how to optimise your site for local searches : 

  • Create listings on online business directories, like Google Business Profile (previously known as Google My Business)
  • If your financial service company operates in more than one physical location, be sure to create a separate Google Business Profile for each one 
  • Identify location-specific keywords that will help you rank in local SERPs
  • Make sure that your name, address, and phone number (NAP) citations are correct and consistent 
  • Leverage positive customer reviews and testimonials as social proof

  8. Optimise technical aspects of your website 

  Technical SEO — which primarily deals with the website’s underlying structure — is another crucial factor that financial services brands must monitor. 

  It’s an umbrella term that covers a wide range of elements, including : 

  • Site speed 
  • Indexing issues 
  • Broken links, orphaned pages, improper redirects 
  • On-page optimisation 
  • Mobile responsiveness

  In 2020, Google introduced Core Web Vitals, a set of metrics that measure web page performance in three key areas — loading speed, responsiveness and visual stability. 

  Given that they’re now a part of Google’s core ranking systems, you should consider using Matomo’s SEO Web Vitals feature to monitor these crucial metrics. Here’s why :

  When technical aspects of your website — namely, site speed and mobile responsiveness — are properly optimised, you can deliver a better user experience. That’s what Google seeks to reward. 

  Plus, it can be a critical brand differentiator for your business. 

  Conclusion 

  Investing in SEO for financial services is crucial for boosting online visibility and driving organic traffic and business growth. However, one thing to keep in mind is that SEO efforts shouldn’t be a one-time thing : 

  SEO is an ongoing process, and it will take time to establish your company as a trustworthy source and see real results. 

  You can start building that trust by using a web analytics platform that offers crucial insights for improving your website’s ranking in SERPs and maintains full compliance with GDPR and other privacy regulations. 

  That’s why Matomo is trusted by more than 1 million websites around the globe. As an ethical alternative to Google Analytics that doesn’t rely on data sampling, Matomo is not only easy to use but more accurate, too — providing 20-40% more data compared to GA4. 

  Sign up for a 21-day free trial and see how Matomo can support your financial services SEO strategy. No credit card required.

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• Blog series part 2 : How to increase engagement of your website visitors, and turn them into customers

  8 septembre 2020, par Joselyn Khor — Analytics Tips, Marketing
  Long gone are the days of simply tracking page views as a measure of engagement. Now it’s about engagement analysis, which is layered and provides insight for effective data-driven decisions.

  Discover how engaged people are with your website by uncovering behavioural patterns that tell you how well your site and content is or isn’t performing. This insight helps you re-evaluate, adapt and optimise your content and strategy. The more engaged they are, the more likely you’ll be able to guide them on a predetermined journey that results in more conversions ; and helps you reach the goals you’ve set for your business. 

  Why is visitor engagement important ?

  It’s vital to measure engagement if you have anything content related that plays a role in your customer’s journey. Some websites may find more value in figuring out how engaging their entire site is, while others may only want to zone in on, say, a blogging section, e-newsletters, social media channels or sign-up pages.

  In the larger scheme of things, engagement can be seen as what’s running your site. Every aspect of the buyer’s journey requires your visitors to be engaged. Whether you’re trying to attract, convert or build a loyal audience base, you need to know your content is optimised to maintain their attention and encourage them along the path to purchase, conversion or loyalty.

  How to increase engagement with Matomo

  You need to know what’s going right or wrong to eventually be able to deliver more riveting content your visitors can’t help but be drawn to. Learn how to apply Matomo’s easy-to-use features to increase engagement :

  1. The Behaviour feature
  2. Heatmaps
  3. A/B Testing
  4. Media Analytics
  5. Transitions
  6. Custom reports
  7. Other metrics to keep an eye on

  1. Look at the Behaviour feature

  It allows you to learn how visitors are responding to your content. This information is gathered by drawing insight from features such as site search, downloads, events and content interactions. Learn more

  

  Matomo’s top five ways to increase engagement with the Behaviour feature :

  Behaviour -> Pages
  Get complete insights on what pages your users engage with, what pages provide little value to your business and see the results of entry and exit pages. If important content is generating low traffic, you need to place it where it can be seen. Spend time where it matters and focus on the content that will engage with your users and see how it eventually converts them into customers.

  Behaviour -> Site search
  Site search tracks how people use your website’s internal search engine. You can see :

  • What search keywords visitors used on your website’s internal search.
  • Which of those keywords resulted in no results (what content your visitors are looking for but cannot find).
  • What pages visitors visited immediately after a search.
  • What search categories visitors use (if your website employs search categories).

  Behaviour -> Downloads
  What are users wanting to take away with them ? They could be downloading .pdfs, .zip files, ebooks, infographics or other free/paid resources. For example, if you were working for an education institution and created valuable information packs for students that you made available online in .pdf format. To see an increase in downloads meant students were finding the .pdfs and realising the need to download them. No downloads could mean the information packs weren’t being found which would be problematic.

  Behaviour -> Events
  Tracking events is a very useful way to measure the interactions your users have with your website content, which are not directly page views or downloads.

  How have Events been used effectively ? A great example comes from one of our customers, Catalyst. They wanted to capture and measure the user interaction of accordions (an area of content that expands or closes depending on how a user interacts with it) to see if people were actually getting all the information available to them on this one page. By creating an Event to record which accordion had been opened, as well as creating events for other user interactions, they were able to figure out which content got the most engagement and which got the least. Being able to see how visitors navigated through their website helped them optimise the site to ensure people were getting the relevant information they were craving.

  Behaviour -> Content interactions
  Content tracking allows you to track interaction within the content of your web page. Go beyond page views, bounce rates and average time spent on page with your content. Instead, you can analyse content interaction rates based on mouse clicking and configuring scrolling or hovering behaviours to see precisely how engaged your users are. If interaction rates are low, perhaps you need to restructure your page layout to grab your user’s attention sooner. Possibly you will get more interaction when you have more images or banner ads to other areas of your business.

  

  Watch this video to learn about the Behaviour feature

  2. Set up Heatmaps

  Effortlessly discover how your visitors truly engage with your most important web pages that impact the success of your business. Heatmaps shows you visually where your visitors try to click, move the mouse and how far down they scroll on each page.

  

  You don’t need to waste time digging for key metrics or worry about putting together tables of data to understand how your visitors are interacting with your website. Heatmaps make it easy and fast to discover where your users are paying their attention, where they have problems, where useless content is and how engaging your content is. Get insights that you cannot get from traditional reports. Learn more

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  3. Carry out A/B testing

  With A/B Testing you reduce risk in your decision-making and can test what your visitors are responding well to. 

  

  Ever had discussions with colleagues about where to place content on a landing page ? Or discussed what the call-to-action should be and assumed you were making the best decisions ? The truth is, you never know what really works the best (and what doesn’t) unless you test it. Learn more

  How to increase engagement with A/B Testing : Test, test and test. This is a surefire way to learn what content is leading your visitors on a path to conversion and what isn’t.

  4. Media Analytics

  Tells you how visitors are engaging with your video or audio content, and whether they’re leading to your desired conversions. Track :

  • How many plays your media gets and which parts they viewed
  • Finish rates
  • How your media was consumed over time
  • How media was consumed on specific days
  • Which locations your users were viewing your content from
  • Learn more

  

  How to increase engagement with Media Analytics : These metrics give a picture of how audiences are behaving when it comes to your content. By showing insights such as, how popular your media content is, how engaging it is and which days content will be most viewed, you can tailor content strategies to produce content people will actually find interesting and watch/listen.

  Matomo example : When we went through the feature video metrics on our own site to see how our videos were performing, we noticed our Acquisition video had a 95% completion rate. Even though it was longer than most videos, the stats showed us it had, by far, the most engagement. By using Media Analytics to get insights on the best and worst performing videos, we gathered useful info to help us better allocate resources effectively so that in the future, we’re producing more videos that will be watched.

  5. Investigate transitions

  See which page visitors are entering the site from and where they exit to. Transitions shows engagement on each page and whether the content is leading them to the pages you want them to be directed to.

  

  This gives you a greater understanding of user pathways. You may be assuming visitors are finding your content from one particular pathway, but figure out users are actually coming through other channels you never thought of. Through Transitions, you may discover and capitalise on new opportunities from external sites.

  How to increase engagement with Transitions : Identify clearly where users may be getting distracted to click away and where other pages are creating opportunity to click-through to conversion. 

  6. Create Custom Reports

  You can choose from over 200 dimensions and metrics to get the insights you need as well as various visualisation options. This makes understanding the data incredibly easy and you can get the insights you need instantly for faster results without the need for a developer. Learn more

  

  How to increase engagement with Custom Reports : Set custom reports to see when content is being viewed and figure out how engaged users are by looking at different hours of the day or which days of the week they’re visiting your website. For example, you could be wondering what hour of the day performed best for converting your customers. Understanding these metrics helps you figure out the best time to schedule your blog posts, pay-per-click advertising, edms or social media posts knowing that your visitors are more likely to convert at different times.

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  7. Other metrics to key an eye on …

  A good indication of a great experience and of engagement is whether your readers, viewers or listeners want to do it again and again.

  “Best” metrics are hard to determine so you’ll need to ask yourself what you want to do or what you want your site to do. How do you want your users to behave or what kind of buyer’s journey do you want them to have ?

  Want to know where to start ? Look at …

  • Bounce rate – a high bounce rate isn’t great as people aren’t finding what they’re looking for and are leaving without taking action. (This offers great opportunities as you can test to see why people are bouncing off your site and figure out what you need to change.)
  • Time on site – a long time on site is usually a good indication that people are spending time reading, navigating and being engaged with your website. 
  • Frequency of visit – how often do people come back to interact with the content on your website ? The higher the % of your visitors that come back time and time again will show how engaged they are with your content.
  • Session length/average session duration – how much time users spend on site each session
  • Pages per session – is great to show engagement because it shows visitors are happy going through your website and learn more about your business.

  Key takeaway

  Whichever stage of the buyer’s journey your visitors are in, you need to ensure your content is optimised for engagement so that visitors can easily spend time on your website.

  “Every single visit by every single visitor is no longer judged as a success or a failure at the end of 29 min (max) session in your analytics tool. Every visit is not a ‘last-visit’, rather it becomes a continuous experience leading to a win-win outcome.” – Avinash Kaushik

  As you can tell, one size does not fit all when it comes to analysing and measuring engagement, but with a toolkit of features, you can make sure you have everything you need to experiment and figure out the metrics that matter to the success of your business and website.

  Concurrently, these gentle nudges for visitors to consume more and more content encourages them along their path to purchase, conversion or loyalty. They get a more engaging website experience over time and you get happy visitors/customers who end up coming back for more.

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  Want to learn how to increase conversions with Matomo ? Look out for the final in this series : part 3 ! We’ll go through how you can boost conversions and meet your business goals with web analytics. 

• How to Conduct a Customer Journey Analysis (Step-by-Step)

  9 mai 2024, par Erin

  Your customers are everything.

  Treat them right, and you can generate recurring revenue for years. Treat them wrong ; you’ll be spinning your wheels and dealing with churn.

  How do you give your customers the best experience possible so they want to stick around ?

  Improve their customer experience.

  How ?

  By conducting a customer journey analysis.

  When you know how your customers experience your business, you can improve it to meet and exceed customer expectations.

  In this guide, we’ll break down how the customer journey works and give you a step-by-step guide to conduct a thorough customer journey analysis so you can grow your brand.

  What is a customer journey analysis ?

  Every customer you’ve ever served went on a journey to find you.

  From the moment they first heard of you, to the point that they became a customer. 

  Everything in between is the customer journey.

  A customer journey analysis is how you track and analyse how your customers use different channels to interact with your brand.

  

  Analysing your customer journey involves identifying the customer’s different touchpoints with your business so you can understand how it impacts their experience. 

  This means looking at every moment they interacted with your brand before, during and after a sale to help you gain actionable insights into their experience and improve it to reach your business objectives.

  Your customers go through specific customer touchpoints you can track. By analysing this customer journey from a bird’s eye view, you can get a clear picture of the entire customer experience.

  4 benefits of customer journey analysis

  Before we dive into the different steps involved in a customer journey analysis, let’s talk about why it’s vital to analyse the customer journey.

  By regularly analysing your customer journey, you’ll be able to improve the entire customer experience with practical insights, allowing you to :

  Understand your customers better

  What’s one key trait all successful businesses have ?

  They understand their customers.

  By analysing your customer journey regularly, you’ll gain new insights into their wants, needs, desires and behaviours, allowing you to serve them better. These insights will show you what led them to buy a product (or not).

  For example, through conducting a customer journey analysis, a company might find out that customers who come from LinkedIn are more likely to buy than those coming from Facebook.

  Find flaws in your customer journey

  Nobody wants to hear they have flaws. But the reality is your customer journey likely has a few flaws you could improve.

  By conducting customer journey analysis consistently, you’ll be able to pinpoint precisely where you’re losing prospects along the way. 

  For example, you may discover you’re losing customers through Facebook Ads. Or you may find your email strategy isn’t as good as it used to be.

  But it’s not just about the channel. It could be a transition between two channels. For example, you may have great engagement on Instagram but are not converting them into email subscribers. The issue may be that your transition between the two channels has a leak.

  Or you may find that prospects using certain devices (i.e., mobile, tablet, desktop) have lower conversions. This might be due to design and formatting issues across different devices.

  By looking closely at your customer journey and the different customer touchpoints, you’ll see issues preventing prospects from turning into leads or customers from returning to buy again as loyal customers.

  Gain insights into how you can improve your brand

  Your customer journey analysis won’t leave you with a list of problems. Instead, you’ll have a list of opportunities.

  Since you’ll be able to better understand your customers and where they’re falling off the sales funnel, you’ll have new insights into how you can improve the experience and grow your brand.

  For example, maybe you notice that your visitors are getting stuck at one stage of the customer journey and you’re trying to find out why.

  So, you leverage Matomo’s heatmaps, sessions recordings and scroll depth to find out more.

  In the case below, we can see that Matomo’s scroll map is showing that only 65% of the visitors are reaching the main call to action (to write a review). 

  

  To try to push for higher conversions and get more reviews, we could consider moving that button higher up on the page, ideally above the fold.

  Rather than guessing what’s preventing conversions, you can use user behaviour analytics to “step in our user’s shoes” so you can optimise faster and with confidence.

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  Grow your revenue

  By taking charge of your customer journey, you can implement different strategies that will help you increase your reach, gain more prospects, convert more prospects into customers and turn regulars into loyal customers.

  Using customer journey analysis will help you optimise those different touchpoints to maximise the ROI of your channels and get the most out of each marketing activity you implement.

  7 steps to conduct a customer journey analysis

  Now that you know the importance of conducting a customer journey analysis regularly, let’s dive into how to implement an analysis.

  Here are the seven steps you can take to analyse the customer journey to improve your customer experience :

  

  1. Map out your customer journey

  Your first step to conducting an effective customer journey analysis is to map your entire customer journey.

  Customer journey mapping means looking at several factors :

  • Buying process
  • Customer actions
  • Buying emotions
  • Buying pain points
  • Solutions

  Once you have an overview of your customer journey maps, you’ll gain insights into your customers, their interests and how they interact with your brand. 

  After this, it’s time to dive into the touchpoints.

  2. Identify all the customer touchpoints 

  To improve your customer journey, you need to know every touchpoint a customer can (and does) make with your brand.

  This means taking note of every single channel and medium they use to communicate with your brand :

  • Website
  • Social media
  • Search engines (SEO)
  • Email marketing
  • Paid advertising
  • And more

  Essentially, anywhere you communicate and interact with your customers is fair game to analyse.

  If you want to analyse your entire sales funnel, you can try Matomo, a privacy-friendly web analytics tool. 

  You should make sure to split up your touchpoints into different customer journey stages :

  • Awareness
  • Consideration
  • Conversion
  • Advocacy

  Then, it’s time to move on to how customers interact on these channels.

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  3. Measure how customers interact on each channel

  To understand the customer journey, you can’t just know where your customers interact with you. You end up learning how they’re interacting.

  This is only possible by measuring customer interactions.

  How ?

  By using a web analytics tool like Matomo.

  With Matomo, you can track every customer action on your website.

  This means anytime they :

  • Visit your website
  • View a web page
  • Click a link
  • Fill out a form
  • Purchase a product
  • View different media
  • And more

  You should analyse your engagement on your website, apps and other channels, like email and social media.

  4. Implement marketing attribution

  Now that you know where your customers are and how they interact, it’s time to analyse the effectiveness of each channel based on your conversion rates.

  Implementing marketing attribution (or multi-touch attribution) is a great way to do this.

  Attribution is how you determine which channels led to a conversion.

  While single-touch attribution models credit one channel for a conversion, marketing attribution gives credit to a few channels.

  For example, let’s say Bob is looking for a new bank. He sees an Instagram post and finds himself on HSBC’s website. After looking at a few web pages, he attends a webinar hosted by HSBC on financial planning and investment strategies. One week later, he gets an email from HSBC following up on the webinar. Then, he decides to sign up for HSBC’s online banking.

  Single touch attribution would attribute 100% of the conversion to email, which doesn’t show the whole picture. Marketing attribution would credit all channels : social media, website content, webinars and email.

  Matomo offers multiple attribution models. These models leverage different weighting factors, like time decay or linear, so that you can allocate credit to each touchpoint based on its impact.

  Matomo’s multi-touch attribution reports give you in-depth insights into how revenue is distributed across different channels. These detailed reports help you analyse each channel’s contribution to revenue generation so you can optimise the customer journey and improve business outcomes.

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  5. Use a funnels report to find where visitors are leaving

  Once you set up your marketing attribution, it’s time to analyse where visitors are falling off.

  You can leverage Matomo funnels to find out the conversion rate at each step of the journey on your website. Funnel reports can help you see exactly where visitors are falling through the cracks so you can increase conversions.

  6. Analyse why visitors aren’t converting

  Once you can see where visitors are leaving, you can start to understand why.

  For example, let’s say you analyse your funnels report in Matomo and see your landing page is experiencing the highest level of drop-offs.

  

  You can also use form analytics to find out why users aren’t converting on your landing pages – a crucial part of the customer journey.

  7. A/B test to improve the customer journey

  The final step to improve your customer journey is to conduct A/B tests. These are tests where you test one version of a landing page to see which one converts better, drives more traffic, or generates more revenue.

  For example, you could create two versions of a header on your website and drive 50% of your traffic to each version. Then, once you’ve got your winner, you can keep that as your new landing page.

  

  Using the data from your A/B tests, you can optimise your customer journey to help convert more prospects into customers.

  Use Matomo to improve your customer journey analysis

  Now that you understand why it’s important to conduct customer journey analysis regularly and how it works, it’s time to put this into practice.

  To improve the customer journey, you need to understand what’s happening at each stage of your funnel. 

  Matomo gives you insights into your customer journey so you can improve website performance and convert more visitors into customers.

  Used by over 1 million websites, Matomo is the leading privacy-friendly web analytics solution in the world. 

  Matomo provides you with accurate, unsampled data so you understand exactly what’s going on with your website performance.

  The best part ?

  It’s easy to use and is compliant with the strictest privacy regulations.

  Try Matomo free for 21-days and start Improving your customer journey. No credit card required.

  Try Matomo for Free

  21 day free trial. No credit card required.

  
  

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