The importance of measuring impact across channels in the digital banking landscape

Abstract

Banks have invested significant resources in developing compelling online and mobile experiences. Consequently, customer journeys have become more complex than ever. Today, when opening an account or shifting balances, customers are likely to interact across multiple channels. Internal analytics, meanwhile, have struggled to keep pace with the ongoing shift in consumer preferences to different channels for different banking activities. While 65 per cent of marketing leaders plan to increase digital spend next year, most organisations report having no reliable measurement for online campaigns. This paper seeks to delineate how, as data sets continue to grow and customer journeys become more complicated, traditional players and digital disruptors alike are working to ensure that their analytics are in line with their innovation investments.