Despite mobile driving the majority of digital traffic across industries, more than half of visits to financial services sites (59.97%) still happen on desktop, according toContentsquare’s 2022 Financial Services Digital Experience Benchmark Report. Financial services customers also appear to favour larger screens for research, with an average desktop session time of*3 minutes and 31 seconds, compared to **2 minutes* on mobile.
With Customer Experience (CX) the key differentiator for brands today, creating seamless and intuitive user journeys across all channels is key to meeting customer expectations at every touchpoint.And while smartphone traffic isn’t dominating the industry yet, mobile is still an important channel for digital natives, further highlighting the need for an integrated channel strategy. With an average bounce rate on mobile +78% higher than the bounce rate on desktop, there is tremendous opportunity for the sector to leverage overall smartphone penetration by optimising mobile customer journeys.
Additional Australia findings are:
- Percentage of New Users: Within the financial insurance industry, 57.9% of users are new users, on average. Australia has the highest percentage of new users which is 28% higher than the global average.
- Page views: The average user has 3 page views per session. Australian users have the least amount of page views which is 40.6% lower than the global average.
- Load times: The average load time is 1.4 seconds per page. Australia is the country with the longest average load time per page which is 55% slower than the global average.
Based on analysis of 3,800+ websites, 25 countries, 46+ billion user sessions from around the globe and across 14 industries, Contentsquare’s annual Benchmark report paints a rich portrait of digital customer behaviour today. Its Financial Services spinoff was designed to bring unique CX insights to players in thebanking, insurance, and fintech industries.
Financial services have undergone a profound transformation in recent years, and increased digital adoption has proven to be a key enabler of innovation and competitive differentiation. Whether they are browsing on desktop or smartphone, customers today expect convenient, frictionless, and trustworthy experiences every time. The ability to understand customers’ preferences and evolving priorities is key to delivering more human online experiences and measuring the effectiveness of the digital strategy.
“From convenient account opening to simplifying processes such as bill payments, digital has truly revolutionised financial services, and the opportunity for growth and innovation in the sector is immense. Now more than ever, it’s essential for businesses to make the digital experience their top priority,” said Niki Hall, Chief Marketing Officer at Contentsquare. “Every customer is unique and digital experience analytics can help teams understand what makes customers click, what frustrates them and how to improve the online journey.”
To access the full report, please visit Contentsquare’s 2022 Financial Services Digital Experience Benchmark Report. To view an infographic comparing financial services website analytics, please click here.