Principality is a Building Society based in Cardiff, Wales. With assets of £8bn, it is the largest building society in Wales and the sixth largest in the United Kingdom.
Increased sales conversion rate from 0.40% to 3% (650%)
Took savings applications from 487 to 3914 (704%)
Enhanced non-abandons by 309%
Why did our clients come to us?
Whilst Principality are the largest building society in Wales and favoured amongst older generations, this pool is, unfortunately, shrinking due to its ageing population. In addition to this, Principality had been operating predominantly offline and didn’t have the resources set up to track their products, customers and media spend.
What were their pain points?
- Lack of visibility & benchmarking
- No conversion tracking
- Operating mostly offline
- Lack of resources and help
- Throwing money out the window without understanding performance marketing
We set up an automated daily crawl of Principality’s website to extract the product IDs, savings and mortgage rates. The data collected was entered into our bespoke database in order to allow a server-side look-up, which returned the profit-per-product.
In parallel, we set GTM to read the product data from the website and look up the profit-per-product, saving this information as a cookie. This then allowed us to send the transactional and profit data on the applications’ complete pages.
This is the moment when the financial site started reporting as an e-commerce website – thus born Fin-Com. We mapped pages on the website into the relevant e-commerce stage, predetermining how visitors would traverse from product pages, products in cart, through to the purchase page.
Over the course of a year:
- Increased Principality’s sales conversion rate from 0.40% to 3% (650%)
- Took savings applications from 487 to 3914 (704%)
- Enhanced non-abandons by 309%
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