Nearly half of customers are abandoning financial services websites

A pile of notes in different currencies.

Nearly half of customers are abandoning financial services websites Duncan is an award-winning technology industry analyst, specialising in cloud computing, blockchain, martech and edge computing.

Just under half (47%) of visitors to financial services websites leave after seeing only one page of content. This figure is even higher for those visiting websites from a mobile device (51%).

That is according to the latest report from digital experience analytics company, Contentsquare, titled The Fate of Finance report. The study provides insights into future-proofing digital customer experiences, incorporates some of the recent findings from Contentsquare’s 2021 Digital Experience Benchmark Report. The anonymized data set, which includes insights based on billions of user sessions from global financial services websites and apps, also uncovered:

More than a third (39%) of customer-facing content goes unseen*. This is especially concerning given that financial services brands spent over $23 million on content marketing in recent years.

Mobile-enabled design should be a priority. With over a half (64%) of all traffic to websites coming from a mobile device, we’re likely to see the number of consumers using mobile for online banking significantly increase.

Lucie Buisson, chief product officer at Contentsquare, said: “While financial services brands recognize the importance of digital, there’s still work to do in ensuring the experience and the information customers receive remains consistent across every channel. Banking online increased at an unprecedented rate over the last few years, and as financial institutions invest in making these channels seamless, it’s also important for them to understand the friction points that are causing customers frustration.”

“It’s not enough for financial services marketers to focus purely on producing great content. They also need to prioritise building digital experiences where every bit of content is relevant. Investing across all digital properties and understanding how customers respond will better enable a brand to meet the needs of customers.”

Interested in hearing leading global brands discuss subjects like this in person? Find out more about Digital Marketing World Forum (#DMWF) Europe, London, North America, and Singapore.

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