Saxo Bank Optimizes its Business on a New Global Site
- Financial Services
- Data Science
Get to Know Saxo Bank
Saxo Bank is a Danish investment bank specializing in online trading and investment. It was founded as a brokerage firm in 1992.
Saxo Bank supports more than 600,000 clients throughout the world, helping them to make more than 125,000 trades each day. When they needed a new website, they turned to Valtech for help.
Using Analytics Better
When users visit Saxo Bank’s new global site, their behavior is tracked by a state-of-the-art Adobe analytics solution. Clicks and bounces, page views and conversions plus much more are collected and analyzed, and the data is exported to Saxo Bank’s central data warehouse for deeper business-critical analysis. Valtech helped Saxo identify its business-critical goals, define and prioritize metrics, design and set up the analytics solution and tag management system on the site, secure the quality of data, and build up internal knowledge at Saxo Bank.
Optimize Digital Marketing Campaigns
On the customer acquisition front, the work of measuring and understanding user behavior on the site is particularly important for Saxo Bank. Without proper metrics, Saxo Bank’s huge marketing machine is flying blind. With a well-planned and well-implemented initiative, Saxo Bank can optimize its advertising campaigns so the largest number of people possible click on the site, open a trial account and convert to paying customers.
Understanding Massive Amounts of Data
Analytics systems are not just analytics systems. Behind the intuitive dashboards and pretty graphs in Saxo Bank’s Adobe Analytics lie massive amounts of raw data visible only to select individuals.
This raw data is interesting, particularly when digital behavior data is combined with data from other customer systems. This is an exercise that can be difficult because Saxo Bank’s online visitors are frequently anonymous. It was here, and in connection with the export of raw data to Saxo Bank’s central warehouse, that Valtech got to work. We made sure that the digital behavior could be correlated with, for example, purchase information from Saxo Bank’s call center and other channels. Not 100% or one-to-one. But enough so that on an overall analysis level it makes sense in relation to the ongoing evaluation of the marketing efforts. And enough that Saxo Bank could create even better personalized experiences for users of Saxo Bank’s digital channels.
“We’ve gotten a lot of value out of Valtech’s experience with Adobe and the way data is saved and structured, and how it can best be utilized,” says Nicolai Sehested. “The strong technical advisory services have been invaluable for us.”
Advisor and Implementation Partner
Valtech has acted as a direct sounding board for various stakeholders at Saxo Bank and have ensured that the digital behavioral data that can create an insight into the business and strengthen it is identified, and that data is correctly integrated across the platform. Valtech has also been a key player when it comes to ensuring the right data collection and data quality on Saxo Bank’s new global website.
The specific activities on the project consisted of:
- Coverage of business needs – Definition and prioritization of metrics as well as various data integrations. The starting point was always metrics that can be directly used to optimize and create insight.
- Design and documentation of data repository/implementation, based on the identified need for metrics.
- Tag Management – Set-up of tracking via Tag Manager plus input on best practice within Tag Management.
- Ongoing support and feedback – Expert advice in connection with specific technical implementation. Served as a sounding board for other areas within the Adobe Marketing Cloud.
- Quality assurance of data – Ensure that the implementation collects pure and valid data
- Integration of data across platforms