Benchmarking Consideration and Conversion Rates
Disclaimer: The data presented on this page is simulated and is provided solely as an example of an analysis that can be performed using JD Power Churn Data and Analytics. Learn about subscription options here for access to actual results.
Stakeholder(s): Product Management, Marketing Leadership, Digital Leadership
Goal: Understand a brand’s overall consideration and conversion rates among investment account shoppers to determine marketing reach, product appeal, and account opening effectiveness.
Churn Data & Analytics Capabilities:
- Benchmark overall consideration and conversion rates between investment account providers.
- Create consideration and conversion rate analyses based on consumer segmentations – demographic/socioeconomic, geographic, reason for opening an account, etc.
Example insights:
- Investment providers X and Y are most likely to be considered for a new investment account.
- Investment providers A and B excel in converting prospects into new accounts.
- Investment provider Z has the highest consideration rate among high-net-worth investors, but provider C converts more into customers.
How to Implement
Using the Cross Table Tool:
Overall Consideration Rate
- Filters: None
- Columns: None
- Rows: inv9_considered_full
- Filters: None
- Columns: None
- Rows: brand_del_inv and inv9_considered_full (calculation is needed)