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that offers online, mobile, & banking services which include loan assistance, mobile depositing,
mobile bill pay, & digital wallets. With the help of banking software partners, such as Neteller,
Chartway is able to effectively record and manage transactions made by over 180,000 member
accounts.
What separates Chartway from its competitors is their promise to always put member’s
wants and needs first. Compared to larger industry bankers, Chartway offers valuable financial
services at affordable prices. Members no longer have to worry about high loan rates, low yield
savings and complicated checking and deposit accounts, thus they can enjoy easy to use,
full-service financial solutions at their own convenience. To make members feel like family,
Chartway targets their market throughout three main states: Texas, Virginia & Utah as well as
locations within Elizabeth City, North Carolina and St. Petersburg, Florida.
There are certain qualifications that customers must meet to become a potential member.
With a market targeted primarily to the local community, potential members must: live, work,
study, or worship in an area served by Chartway branches, have family who is currently a
Chartway member, or have an immediate family member that works for a company who offers
Chartways’ credit union benefits to their employees. If a customer of interest happens to not fit
any of these qualifications, they also have the option of becoming a member by simply making a
As a credit union, Chartway is more customer focused and these customers tend to fall
into a few distinct categories of users. These categories are based on psychographic factors
instead of the bse demographic or geographic breakdowns. Those factors include technical
literacy, comfort with online/not in-person transactions, stage of life, and financial stability/job
security. The first type of user or persona is the “Mortgage Mavens”, these are middle-age
members who have been using Chartway as their financial institution for years and have most
accounts, particularly loans or mortgages through Chartway. Since they have been using
Chartway prior to the push for the website, they are slow to migrate to using digital banking and
still prefer to use physical branches. The second type of persona are the “Digitally Disciplined,”
these are younger members of Chartway who grew up in the digital age and therefore are much
more comfortable with technology and online banking and as such almost exclusively use online
banking. They tend to be the children, or family of the “Mortgage Mavens” and are loyal to
Chartway because that is what their family has always used, and they may have had a savings
account at an early age with Chartway. Finally, the third persona are those members who have
been referred to Chartway by friends or family and are just beginning to establish accounts at
Chartway, the “Referral Refugee.” They may be coming from a typical bank and will appreciate
To build lifetime relationships with members, Chartway works to effectively interact with
their customers through social media outlets with active accounts on Twitter, Facebook,
Instagram and the company’s personal blog. Chartway uses these platforms to educate
consumers on banking benefits, news, & updates. Social media allows Chartway to engage with
customers while tracking their audience and feedback on the company brand. With expectations
from their audience to provide high quality customer service both in-store and online, Chartway
works to reach those standards by offering 24 hours, 7 days a week toll-free customer service
assistance.
To improve customer service and ease-of-use, Chartway recently redefined their goals for
the company website and instituted more up to date analytics. This involved redefining the goals
for customers who use the Chartway website. The macro-conversion or overall goal for the
website is to have customers complete the applications to establish accounts including checking
and savings. The micro conversion goals include becoming a member, checking eligibility,
product selection, adding beneficiaries, and updating applicant info. Others might be funding
Many companies and industries are transitioning toward operating primarily from digital
or web-based services. Although, Chartway physical stores are only open during normal business
hours on Mondays to Fridays from 9:00 AM-5:00 PM, members can perform their typical
banking activities online at any time with their 24/7 mobile access. Furthermore, this serves as a
convenience to customers that are not able to reach brick-and-mortar locations during the
opening hours.
As the company is working to enhance their digital footprint. Chartway has provided a
simple solution to help not only the customers, but also the company. For instance, the website
has proven to reduce members time spent while completing a transaction. Due to this, the
company is now able to save funds on fixed costs as they no longer are required to fully staff all
physical branch offices. With member’s happiness serving as the company’s top goal, the
website continues to help keep members happy as well as improve efficiency for Chartway
Chartway website. During the period between March 2017 and September 2018 we had 13,590
average daily sessions with 5,090 being the lowest and 21,594 the highest. Further, the low was
on December 25th, 2017 which makes sense because of the Christmas holiday. We see a large
jump in daily sessions in March 2017. The high was during March 2017 which may be attributed
We can observe that sessions are higher than users by a significant amount on a weekly
basis. Therefore, the website has a decent amount of return visits. We see that the site had 25.7%
return visitors and 74.3% new visitors. Since Chartway is a membership based operation, we
should expect higher return visitors partially due to the fact that members must return to the site
Next, we want to answer the question, where are visitors coming from? The top three
channels are Direct, Organic Search, and Referral with 50.02%, 35.06%, and 9.92% of total
sessions respectively. Again, it makes sense that half of the sessions come from direct. Members
need to visit the website often to keep up with their accounts and most likely bookmark the
website. Nearly a third of visitors come from organic search. These may be members who don’t
bookmark the website and just type their search into a search engine. If these aren’t current
members, then we can assume that the website is well known and easy to find. When we look
further into the top keywords used in organic search we realize that majority of visitors land on
the home page. Other keywords include connect online, borrow and make a payment, and
locations and ATMs. These keywords tell us that visitors know what they are looking for and are
Paid searches are a great way to get your website add at the top of the search list. With
the paid search, we see that the top keywords used are Chartway, Chartway Federal Credit
Union, Chartway Credit Union, and other variations of the name. Since these keywords are so
specific we can assume that visitors know who Chartway is. There is room for improvement with
the paid search campaign, we want to reach those who don’t know about Chartway but want
their services. For example, we would like to see Chartways’ website ad at the top of a search if
we use keywords like loans, mobile banking, apply for credit, etc. It seems a little redundant for
the Chartway ads to appear in a search for Chartway or variations of the name.
A large amount of people’s time is spent on social media. We want to utilize this
opportunity to get more traffic and sell more members. Chartways top referrals from social
channels are Facebook, Linkedin, Yelp, Twitter, and Youtube. We must note that about 70%
these referrals come from Facebook. A course of action Chartway may consider is a Facebook ad
campaign. Chartway can control how much they want the budget to be among other things. A
Facebook ad campaign can increase traffic to the website due to the amount of people present on
establish a credit or savings account. When observing the funnel visualization of this goal, their
conversion rate is less than 0.01%, which at first glance seems low, but it turns out that most
users are exiting the funnel at their “Final Review” page which is two pages before their last
step, which has an abandonment rate of 76.34%. Chartway should consider grouping some steps
of the application process together and/or making their final review page more straightforward so
that impatient users won’t exit so quickly. Attracted by their name, users would be drawn to
primarily open a credit or savings account without knowledge of their other services. Besides a
credit or savings account, they offer six different types of loans that members can apply for.
Their “LoansPQ New Auto Loan Application Completed” goal ranks first with the most
conversions, with “LoansPQ Personal Loan Application Completed” goal following second.
After inquiring information from our representative for the reason behind certain peaks in Goal
Overview in the specified time period, these peaks were caused by Ad Campaigns that were
launched. We believe that with regular promotion, most of their goals will be able to follow a
similar growth pattern and at least have more people entering the funnel of most of their goals.
After inquiring insight from our representative, Chartways’ goals in which they focus
most on are: Auto Loans, credit cards, and their MeridianLink Applications. When looking at
which goals perform the best on Google Analytics, their “LoansPQ New Auto Loans Application
Completed” rank first, “Personal Loans Applications Completed” second, then their
they are doing a good job with growing their most focused goals, they should not neglect other
goals in which they put in place. Chartways’ lists twelve goals, we can see that only seven of
them have conversions, while five have zero conversions. Further investigation shows that users
are not entering the funnel process in these empty goals, thus Chartway should investigate if
there was an error in the implementation of tracking these goals on Google Analytics. Our
representative also mentioned how Home Equity and Mortgage Loan Applications Completed
were areas in which they didn’t expect to have growing conversions. Knowing this, they should
take the opportunity to push ads to appeal to new users who are interested in these types of loans.
Mortgage loans isn’t listed on Chartways’ goals, but they should start trying to track its
conversions since it does have potential. Another interesting finding was that within the ranking
of top site searches, different variations of “log-in” appears four times out of ten. It appears
Chartway is putting a lot of focus on gaining and guiding new users, while neglecting the ease of
access to their returning users. They should try to rearrange the site to make accessing online
banking easier so that they can stay on the site longer and enter other goal funnels. We have
inferred that majority of returning visitors are coming back to the site to perform a specific
action, this fact is supported when looking at top landing pages. Ranking first is Home, then
“connect/online.html,” then consumer login, all which have low bounce rates. In conclusion, it
appears many returning users are confused between Chartway’s official website and their online
banking site. They should reconfigure their homepage on their official site to somehow make
directing returning members to the correct place, so that they can focus on growing conversions
insights into Chartway’s website. Knowing the behaviors of the websites visitors can give
Chartway the opportunity to improve its business. We will take a look at some of the most
Starting off, Chartways’ website overall has a 43.79% bounce rate which is high
considering the top landing page is the home page and has 90.58% of total sessions. We must ask
the question, “why are so many people leaving the website after only viewing the home page”?
For those who didn’t bounce, the average time spent on the home page is 4:21 minutes. At first
glance of the home page, the site does not cause users to leave immediately because the average
time on page would be much less. However for those who bounced, the problem is that the users
do not go deeper into the site. Chartway must take a hard look at the home page and make
adjustments to retain more users. We noticed that the home page is slightly busy with a lot of
different colors and can confuse a user as to where they need to go. Perhaps making the home
page more enticing for visitors to explore deeper into Chartway.com will lower the bounce rate,
Digging deeper, we can see the highest number of pageviews from Tuesday through
Thursday. Thursday is the highest traffic day out of the week. Furthermore, we see the lowest
number of users on Sunday which makes sense because Sundays are a blackout day for banks
and many financial institutions. There is not much Chartway can do to increase traffic on Sunday
unfortunately. There is a significant decrease in page views on December 25, 2017 which is due
to the holiday. However, we see a large increase in pageviews in the middle/end of May 2018
due to Chartway launching a few Google Ad Campaigns during this time as well as certain
periods in 2017. Chartway should consider doing more Google Ad Campaigns to maintain a
Devices
that mobile has the most impressions, desktop follows second, and then tablet is last. One
problem that must be addressed first is that certain pages in all device categories have recorded
zero for their Sessions, Bounce Rates, and Pages/Session metric. We can assume that tracking
was implemented wrongly for these landing pages and should be fixed in the near future.
Unfortunately, we can’t do comparisons for these pages, but we are still able to find
In general, desktop has a lower bounce rate than mobile, however, they have close
numbers for clicks and sessions. We believe that most people using the mobile site are
specifically looking for something about physical locations or answers to questions. Then, we
can assume that people are using the desktop to do main tasks like making an online payment
and signing up for loans. Common characteristics between all devices is that landing pages
which contain information about Chartway like “/locations-and-atms” and “/about-us.html” have
high bounce rates, we don’t believe that it should be a high concern since it’s probably people
just looking for something specific then leaving the site to pursue whatever task they wanted to
do with it. Most notably, the bounce rates for these landing pages are higher for mobile than the
other devices, we can assume people are out doing errands and need to quickly go to Chartway to
complete a task but need key information through the mobile site before heading to a physical
branch. The landing page “/borrow/make-a-payment.html” has a high bounce rate; however, the
landing page “/connect/online.html” has a low bounce rate. Further investigation shows that the
Make A Payment page directs the user to their online banking site, which is Connect Online. We
can assume that the bounce rate is high for Make A Payment because it redirects the user to a
completely different website that isn’t under Chartways’ official site. Chartway should consider
making the “Make A Payment” button to lead directly to their Connect Online site than a web
Chartway serves members in every state within the United States, however their major
concentration of members are within Virginia, Utah, and Texas. Diving deeper into their metrics,
Virginia has the highest metrics out of all states because Chartway is headquartered in Virginia
Beach. Between these three states, they share very close numbers of bounce rate, session
duration, pages per session, and new users vs. returning users. We believe that Texas users show
the most potential for growth because Chartway launched an ad campaign within the week of
May 27-June 2, and Texas users showed an increase of +13% of new users from the week of
May 20-26 to week May 27-June 2. Compared to the increase caused by the ad campaign
between other states, Texas was the highest. Secondly, we believe that North Carolina users have
a potential for growth as well, since they rank fourth place of top users within the United States.
They had a sharp increase of total users from the week of Aug 6-12, 2017 with 1,415 users to
Aug 27-Sep 2, 2017 with 2,894 users, and has consistently remained above 2,000 users since
then. Also, since North Carolina is close their headquarters in Virginia, Chartway should
consider branching out more physical stores into North Carolina cities since there currently are
Although Chartway primarily operates in the United States, they also have a few global
customers as well. Most notably, an interesting finding we noticed was that Nigeria ranks 8th for
impressions, but ranks 3rd for clicks; also their Avg. Positioning is 7.8. We can see that Nigeria
has a potential growth for new members and Chartway should consider increasing search engine
According to the information gathered, visitors overall are interested in gaining more
information about Chartway. This is proven as more than three of the top external search queries
include diverse forms of searching the company name; Chartway, Federal Credit Union, and
Chartway Credit Union. This plays a role as to why organic search serves as the second largest
channel with 33.23%. “Chartway Login” on the other hand, was a search query that we found
relatively interesting. According to search terms, more than four of the top terms are related to
login and signing in information. Due to this, we decided to take some time to explore the
company website. Here we noticed how difficult it was to locate where to login into a personal
account. We believe this plays a role as to why many customers prefer searching for a login page
rather than navigating on their own. Our recommendation would be to make the login portion
more easily visible and straightforward. With the homepage serving as the top landing page this
should be of high importance. Logging in should be a quick and easy process for customers. If
the adjustment is made this could potentially decrease the number of call-ins made to the
company.
Top channels include Direct (53.91%), Organic Search (33.23%) and Referral (6.66%).
Referral serves as the companies most valuable resource as they are conducive to achieving the
company's overall goals. For instance, goal number one which includes the completion of a
checking and savings deposit application. Referral serves as the most valuable channel that
brings in 0.01% of the companies completed applications over all other channels who show to
bring in less.
Conversions
When looking at the google analytics of some services, conversion rates appear different
between various demographic groups, particularly between age and gender. Males make up
51.96% of overall users and 52.85% of New Users while females make up 48.04% and 47.15%
respectively. Both male and female Chartway users are almost equally distributed between
various age brackets with roughly a 50%/50% split in each age group. Bounce rates are also
similar between genders in each bracket. However, when looking at overall goal completions of
each age bracket is where more interesting patterns appear. Besides the age bracket of 65+,
females had higher overall goal completions in every other age bracket. In the 18-24 age range
female users had 61,185 compared to males had 49,173 goal completions. This is a 10.9%
increase in female user goal completion in this age bracket. In the 25-34 range, Females who
completed different goals were 118,672 which is 11.24% higher than their male counterpart.
Finally female users age 55-64 had goal completions of 157,084 while males had 134,783, with
In addition to goal completions, female Chartway users had a relatively larger number of
sessions than male Chartway users. In the 18-24 and 25-34 age brackets females had 119,908
and 228,948 sessions overall, males only had 96,756 and 189,258 sessions respectively. Around
25,000 more sessions in each bracket came from females over males.
While neither goal completions or number of sessions had drastic differences, these small
demographic differences may become more pronounced if users were to increase. Overall, both
of these metrics point to a growing trend of female users, having better interactions with the
Chartway website, particularly in higher impressions, sessions, and overall goal completions.
Multi-Channel Funnels
While viewing conversions, it is important to look at where else users are
coming from besides direct search. This way, we can see if there is a good opportunity to focus
our marketing efforts in the near future. When we view the “Overview” of Multi-Channel
Funnels tab on Google Analytics, we immediately see that most conversions occur through
Direct Search, Organic Search, and then Referral. Email falls in fourth place with 1.53% of
multi-channel funnel conversions in this time period and it has also contributed to 1.66% of
assisted conversions. We believe that email marketing has potential for growth in goal
completions because there were two major email campaigns that placed within top ten of
channels which brought in the most users during this time period. We can predict that with more
consistent email marketing of major campaigns, we can have more returning users sign up for
more services and have them promote our services to their peers as well.
When looking at conversions in general, we can see that we are doing well with our
micro conversion goals and we could put more focus on our macro goal. Our macro goal, Goal 1:
conversions and our micro goals for completing applications for our Meridian Link loans
account for 79.21% of total conversions. We can immediately see that from all conversions, most
happened within the same day at 87.14% of conversions and with 1-2 channel interactions. Users
who convert within these metrics are well-informed and determined to complete applications,
possibly due to well-made ad campaigns or by speaking directly with a representative. When we
filter the conversions by goals, an interesting finding is that for Goal 6 & 11: Credit Card
Balance Transfer, most users takes over 12 days and more than 2 sessions, some even taking
First, it is important to note that these goals track the same thing, we can tell because the
numbers for the metrics are all the same. One assumption for high time lag and page depth is
incorrect tracking for these goals, then another assumption would be that customers are having
trouble finding information to research this process before deciding to do it. Signing up for a
credit account and/or a loan is a big decision, so it is understandable that a user would take a long
period of time to research Chartway before finally deciding to sign up for their services on their
own. On the same note, a user may have spoken with a representative of Chartway directly to
learn about their services, then they signed up for one online while still conversing with them.
During this time period, 0.32% out of total conversions were from Google Ad Campaigns; which
at first glance seems like an alarmingly low number; however, we believe the number is low due
to incorrect tracking for their campaigns. When we view the campaigns conducted during this
time period, Chartway launched quite a few that brought in about 140,000 clicks. Looking at the
campaigns table in Google Analytics, all goal conversions are listed as zero, thus proving that
Looking at the funnel analysis for our goals, we see that the funnel for our LoansPQ
applications have 6 steps, however, most users exit at the fifth step at “Final Review,” most
having an abandonment rate typically over 70%. There may be intimidating wording at this page
which scares off many users or causes them to change their mind before finally completing the
application. However, after viewing each LoansPQ application, we notice that Goal 4: Personal
Loans Application Completion has a 99.06% abandonment rate at “Final Review,” though there
could be various reasons for this particular loan to have a high abandonment rate, it is something
to look into in the near future. Lastly, another interesting finding within Funnel Analysis is Goal
3: Home Equity, where this funnel has 7 steps, with an extra blank step between “Final Review”
and “Application Completed” page. We believe this is a webpage development error, since the
abandonment rate for “Final Review” is 1.32% while the abandonment rate for the blank page is
82.44%, also the last step of the funnel suddenly gains more converters than the blank page.
Though there were not a high number of conversions, there is potential for growth
if Chartway launched ad campaigns more consistently and fixed tracking within Google
Analytics in the near future. Email campaigns have proven to assist conversions, thus Chartway
should put importance of making e-mail campaigns useful and visually appealing to draw in
customers to enter goal conversion funnels. Using various Google Ad campaigns targeted to both
current members and potential members will increase the number of members taking advantage
During our analysis of the companies blog, we found that the blog has proven to have a positive
effect on the amount of traffic in and out of the company site. In fact, 1 blog visitor on average visits 3
different pages compared to a non-blog visitors who on average visits less than 2 pages. The blog has also
proven to increase the duration of time that is spent on the website during a single session. Blog users
spend on average 4 minutes and 36 seconds compared to those who do not visit the blog; these visitors
typically spend less than 3 minutes and 11 seconds. That is a 1 minute and 25 seconds difference between
both blog visitors and non-blog visitors. One interesting fact that we found was the blog has proven to
decrease the bounce rate for the companies website. In other words, those who visit the blog have a less
Although the blog has proven to have some positive effects on the website, unfortunately it seems
to not have any influence on customers chances of achieving a particular conversion goal or in other
words, bring in any economic value. In fact, those who do not visit the blog have a higher chance of
completing a goal rather than those who engage with the company blog. This could potentially occur due
to non-blog visitors having one specific goal in mind when visiting the website as compared to those who
take some time to explore the website further landing in the company blog.
Chartway should take into consideration the relatively low form of engagement that the
blog receives. Some suggestions to help increase engagement would be to utilize social media as a
platform to promote recent blog posts as well as direct traffic to the companies blog by including links. As
we further analyzed the companies social media we realized that majority of their social media posts are
focused primarily on company events and company news. Although, it is important to build a relationship
with the company and its client by sharing news and events. Chartway should focus on sharing more
informal information that customers can learn from such as posts that are focused on budgeting, finances,
financial planning etc. Also, be sure to take into consideration the day in the week that a post is posted
online.
According to traffic from September 2017 to March 2018. Blog posts on Wednesdays and
Thursdays have proven to receive the highest amount of engagement. Focusing blog posts on specific
targeted demographics could also serve as a great method to help focus on the primary audience of the
companies blog. Targeted posts will help to increase the overall engagement of the blog as well as
attention to the companies website that could potentially result in bringing in new customers. With more
than 33.34% of visitors coming from the Hampton Roads area of Virginia. The geographics that the
company should focus on when sponsoring social media posts should include: Virginia Beach (19.41%),
As a overall summary, Chartway should consider to focus on increasing the engagement of the
companies blog due to its relatively low performance rate. The blog has proven to help increase duration
of time spent as well as traffic on the Chartway site. This has led to a low bounce rate and exit rate for the
company overall. Targeting posts to specific geographic location within the Hampton Roads area could
potentially help to increase engagement as it makes up more than 33.34% of its visitors. The relevancy of
content on social media posts also plays an important for to why the blog is not performing to its full
potential. Focusing posts on informal information rather than company news and updates could help
attract the attention of consumers and turn them into Chartway members, resulting in a higher conversion
rate.
help the business. As a not-for-profit organization, Chartway seeks to always put their members
wants and needs first. Chartway is not a typical bank in that they offer a customer-oriented
customers through numerous social media outlets. To continually improve their customer
service, Chartway recently updated their website and brought it up to speed with data analytics.
However, we have found some items that can refine Chartways growth in this area.
We have learned that the website has the main goal to increase the completion of
applications to establish accounts including checking and savings. When new visitors go to the
site, they land on the home page which has a high bounce rate. We have realized people are
being turned off by how to home page looks and how they navigate through the site. The
homepage is cluttered which can overwhelm new users. Furthermore, when clicking on any of
the three green tabs on the home page you come full circle through numerous clicks to find out
that you need to create an account. This can be frustrating for new visitors and may result in an
exit. Condensing these three green tabs may cause less confusion and decrease the bounce rate.
Ad campaigns can be a great way to boost traffic and give a business exposure. We see
that in periods of 2017 and 2018, traffic spiked due to ad campaigns. Chartway should
participate in more ad campaigns while also narrowing their target market. We also suggest
conducting more email campaigns. Included in email as well as Chartways social media, the
companies blog posts should be referenced. Chartway may consider asking current members for
email references of people who may benefit from Chartways excellent service. When referencing
the blog posts, Chartway should focus on Linkedin for their social media. Linkedin has a more
professional market that suits banking well. In order to use the data gathered, Chartway should
promote their blog posts to the Hampton Roads demographic and post mid week. With the
update of the website and web analytics, we found some areas where some changes need to be
made. In a few areas of google analytics we see 0 values. Chartway should implement tracking
devices, conversion values, and goals that allow the data available to be represented so that
Going forward, Chartway should consider implementing these changes in order to further
their goals. Continuous analysis, evaluation, and implementation using the data they have
available will ensure that the business takes the best plan of action to expand their services.