The Bankwatch

Tracking the consumer evolution of financial services

Successful Wells Fargo site redesign levers analytics, not opinions

Paul at Finextra notes the updated Wells Fargo web site, which takes a highly customer focused approach to ease access to most wanted features. The results have been spectacular with a 50% increase in online applications.

The team collated the 100 most-popular search terms to determine what customers most wanted to find and couldn’t. Topping the list were mortgage rates, security information, and ATM/branch locations – which subsequently were handed premium positions on the new home page.

Finextra:

A new report from Forrester is cited the efforts, after Brad Strothkamp sat down with Stephanie Smith, Senior Vice President and Head of online sales and marketing, and Brett Pitts, manager of the ISG’s Web channel management.

This is an excellent example of how to manage a Bank site, and I expecially like the reference to using analytics, with no room for “opinions”, which is what drives much of most sites out of necessity. Wells are now big enough, and with a site of such depth, that they have become able to assemble sufficient customer metrics and usage patterns, to be able to accomplish this redesign.

The team used Web site metrics, customer survey data, and internal search information to develop a home page steeped in analytics, not opinions.
… …

The Wells Fargo home page is a best practice for financial services, and a blueprint for how eBusiness managers should use metrics to develop more effective Web sites.

Written by Colin Henderson

May 28, 2007 at 07:34

Posted in Online Banking

2 Responses

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  1. My colleague Ian blogged about this site last week and it seemed to him (and me) that this post about blowing up your home page (itself a response to Seth Godin’s post.
    This is an example of the kind of hidden decision (what to put on your home page) I discuss in my forthcoming book Smart (Enough) Systems.
    Well done Wells Fargo.
    JT

    James Taylor

    May 29, 2007 at 14:00

  2. Thanks for the support!


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