A leading financial brokerage firm that provides tools for consumers to manage their investments, uses Hitwise to track their competitors and better understand their ideal consumer. We spoke to the Manager of Strategy and Analysis about how Hitwise has helped the firm stay one step ahead of the competition.
The Challenge
The Marketing Analytics & Insights team of the well-respected brokerage firm is responsible for providing key intelligence around client acquisition and competitive movements. Hitwise helps to answer the questions like, “What are the top search terms driving traffic to our competitors with new IPO’s?”, “How does our target audience search habits vary across competitors?”, and “Is performance related to marketplace trends or competitive dynamics?”
The Solution
SEO OPTIMIZATION
The Hitwise platform allows the financial broker to identify search terms driving traffic to their competitors’ site and not theirs. Discovering fast-moving industry terms such as “robo advisors” allows them to adjust their ad spent.
The firm created a portfolio of keywords related to upcoming IPO filings. They identified search term variations of keywords related to the IPs that were driving traffic to their competitors and not them. Based on this insight, the firm corrected their SEO efforts.
AUDIENCE SEGMENTATION
Additionally, the financial broker used Hitwise to understand the demographic makeup of visitors going to their site and to understand how it differed for their competitors.
By creating a segment in Hitwise of “affluent clientele”, they were able to monitor this group’s behaviors. They discovered notable attitudes like expectations of a financial broker, or product and brand engagement. They uncovered new insights by tracking the share of voice of the ambitious and image-conscious audience.
CLICKSTREAM ANALYSIS
To understand the journey of consumers visiting their competitors’ sites, the financial brokerage firm used Hitwise custom conversion points. They were able to break down their consumer visits, transactions, and conversions to show how they compare to other leading brokerage firms. The Marketing Analytics & Insights team monitored the customer journey throughout the funnel including when an application is started as well as if the application is completed.
Results
Using Hitwise, financial brokerage firms can fine-tune their SEO efforts by identifying terms to optimize in order to gain more traffic. By identifying top search terms for new IPOs, Insights Teams can inform campaign strategies to increase awareness of products.
By better understanding audience demographics and lifestyle characteristics, organizations in the financial services industry can develop more effective engagement strategies. This allows organizations to build loyal long-term relationships with the most valuable customers by truly understanding who they are and what they like.
“Hitwise helps us to round out the narrative.”
Improve conversion rates by understanding the customer journey. With Hitwise custom conversion points, financial brokerage firms can monitor their competitors’ application funnel to identify the points in which prospects arrive and drop off during their research, consideration, and buying process.
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