Financial Institution

Online Activity Offline Conversion

Challenge

The client, a financial institution that sells saving accounts on its website, wanted to forecast offline conversions by understanding the delay between online applications and actual account opening confirmations.

Opening account process: Account pre-opening, download and complete contract, contract sending, account opening.

Strategy

The agency based its strategy on using Artemis data fusion to merge both online and offline activities. They extracted 7 months of Artemis data to analyze online applications and actual account opening confirmations. They also applied advanced analytics to forecast conversion volumes.

Results

The analysis provides information on the exact offline activity distribution by quartile and delay.

• 25% account openings happen within 5 days of account pre-opening
• 25% account openings happen within 11 eleven days of an online document request
• The delay was strongly correlated to user involvement
• The average first deposit, by a client acquired on a finance or newspaper site, was four times higher, as the one of clients acquired on network sites