Barclays bids to boost online sales

Barclays bids to boost online sales

UK banking group Barclays is using technology from US-based Omniture in a bid to increase conversion rates for inquiries and sales of key products on its Web site.

Following a redesign of the bank's Web site, Barclays implemented Omniture's TouchClarity technology in an effort to deliver the most relevant content to individual sufers based on their behaviour as they move around the site.

TouchClarity works by building individual visitor behavioural profiles and combines it with automated predictive modelling techniques in order to enable the real-time targeting of each visitor with the most engaging content.

The system has delivered an increase in conversion rates on Barclay's site across product areas including mortgages, personal loans and credit cards, says the vendor.

"Omniture TouchClarity creates the automated selection of content based on 'observed customer activity' to maximise our return and has resulted in a 100% increase in inquiries in some areas of the site," says Julian Brewer, head of online marketing and content at Barclays.

Implementation of the product was completed in six weeks, says Omniture.

Research released by Datamonitor earlier this year found that banks are failing to capitalise on soaring consumer adoption rates and convert online services to sales.

The study - which covered Germany, UK, France, Italy, Spain and Nordics - found that although the number of consumers using Web banking continues to soar, customers use the Internet as a servicing channel rather than a sales channel and switch to more traditional methods of banking when they need products.

However, HSBC group chief executive Michael Geoghegan said in May that online sales at the bank had increased by 55% in 2006 as more personal and business customers tuned into the benefits of banking on the Web.

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