How to improve E-services journey

Optimizing the e-services journey for BFSI organizations is crucial for enhancing customer satisfaction, driving efficiency, and maintaining competitiveness. A streamlined digital platform not only improves satisfaction but also attracts and retains clients while reducing operational costs.

Key steps in the journey include:

• Registration: Users create an account by providing personal information and setting up authentication credentials.
• Login: Users authenticate themselves using registered credentials or biometric authentication.
• Account Management: Users can view balances, manage profiles, and access transaction history, including past transactions like deposits, withdrawals, and transfers.
• Financial Transactions: Users can perform fund transfers, bill payments, manage insurance policies, file claims, etc.
• Cross-Selling and Personalization: The platform offers cross-product recommendations and promotions to encourage users to explore additional BFSI offerings.

How to analyze the performance of the key steps in the E-Services Journey

Set up 

If you do not have the following mappings, goals, and segments already saved to your Contentsquare platform you will need to create them before getting started. 

Mapping

• Split out each step of the e-services journey, including the pages that could lead to it (e.g., Landing page or Login/Registration page).

Zoning

Zone every step of the journey, and  any key CTA that may direct users to the e-services hub from other pages, for example, 'My services' on the Homepage.

Goals

• Set-up goals for viewing each step of the journey
• Create the goal 'Click My services'

Step-by-Step

Understand how users reach the e-services hub

Open Journey Analysis and set the Analysis context. Use the 'Page Viewed' condition and select the first step of the journey you want to focus on within the hub from the menu that opens (e.g., page group from a mapping = 'Account management' or 'View additional offers'). When using 'All journeys from landing pages' look the following:

• Do visitors land on the expected pages? Is the usual path followed to reach the e-services hub, or do users often take alternative routes?
• If there are multiple ways to access the e-services hub, what is the preferred option?

Identify the Underperforming Step

1. Open Journey analysis and navigate to the Funnel tab. Make sure to have your Analysis context set to 'All visitors'.

2. If you don't have your journey set up already, click on Define steps and start adding the steps of your funnel. After selecting all of the steps, click on Apply changes to save the Funnel and run your funnel analysis.

3. To narrow down the most problematic step look at the following metrics:

• Overall funnel completion rate. Is the funnel easy to go through or people tend to drop off before completing it?
• Step drop off rate and step completion rate.The step drop off rate will help you identify the step where users struggle the most. In the below example highest drop off rate is after the Quote Step 2, with only 62% proceeding to Quote step 3. 

Generate hypothesis on why the page is underperforming

Looking into the funnel you just built: which step is the most problematic in your journey?

• Account or Personal Details Page: Go to Personal Details Analysis.
• Login/Register: Check the Login Flow Analysis.
• Cross-Sell/Upsell Recommendation Page: Look at the Cross-Sell Recommendations analysis.