Western Union, the worlds largest international money transfer service provider, was experiencing a slow down in new customer growth in Australia, but wasn’t sure why it was occurring.
Western Union Australia had seen a slow down in their rate of digital new customer growth and wanted to:
- Understand why it was occurring;
- Develop an actionable plan to reverse the trend
What We Did
Initially, Tzu & Co. explored the possibility of a traffic or conversion problem to establish if there were less people coming to the platforms or if, once there, less people were converting.
The first step was a performance audit, with Tzu reviewing all in-bound traffic channel data in longitudinal views, before segmenting the traffic by volume, cost and conversions.
Next, Tzu analysed the conversion rates of each traffic channel over the same longitudinal views - enabling a channel-agnostic view of either a potential traffic or conversion problem.
Then, Tzu analysed customer data and customer purchasing behaviour.
Post-review: by conducting thorough investigations, it was clear there was both a traffic problem and a conversion problem - for both new and repeat customers.
A deeper exploration, using a suite of data-analytics platforms, such as Adobe Analytics, Amplitude, Power BI and Quantum Metrics, revealed where the key problem areas were in terms of traffic and conversions, as well as where there existed opportunity within customer segments.
Tzu proposed a prioritised and quantified actionable plan which looked at:
- Investment strategy to maximise media ROI to LTV
- Key Conversion Rate Optimisation changes
- Retention and repeat transaction opportunities
- 'Winnable' customer segments and moments
Growth rate decline was halted and reversed back to target within three months.
- Organic results showed xx% improvement
- xx% improvement in Paid Media performance
- Conversion Rate Optimisation changes drove more than $xxx,000 in incremental transaction revenue
*Figures cannot be shared.