Every credit union wants more members and borrowers. Fortunately, people visit your website everyday to decide if they want to become members or get loans from your CU. Unfortunately, most credit union websites do not provide effective user experiences that persuade action.
How can you know if your website’s user experience is effective or not? You can know by analyzing your website’s conversion rate.
Conversion Rate = Leads / Visitors
Do you know your conversion rates?
If you don’t know your website’s conversion rate, I can almost guarantee it’s not sweet as (as the New Zealanders say). Some digital marketers will tell you a “good” conversion rate is 2-5%. However, conversion rates in the financial industry can be upwards of 25%! Unless every page on your website is converting 25% of visitors, you probably have room to grow.
How can you improve your website’s conversion rate?
Conversion is dependent on the website’s user experience. User experience is the overall experience of a person using a website, especially in terms of how easy or pleasing it is to use. If you can design a user experience that shows potential members and borrowers that you understand their needs and have solutions they want, they will sign up.
What is a UX Review?
A User Experience Review shows the experiences of Ashley and John as they navigate your credit union’s website. Ashley and John are fictitious people, but the personas they represent are very real:
Why are UX Reviews important?
By approaching your website from the perspectives of Ashley and John, we reveal the Good, the OK, and the Ugly of your website’s user experience. The insights from this report can be used to improve website engagement and increase signups for memberships and loans.
After implementing user experience improvements, the new designs should be tested on real website users and monitored with analytics. By monitoring analytics, further insights are gleaned for even more improvements. Repeating this scientific process leads to higher and higher conversion rates and higher and higher Christmas bonuses for you. 🙂