In the development of conversational commerce for the financial industry, there are important metrics that can tell us how our campaigns and attention models are behaving to strategically allow us to decide where we want to direct them.

Although there are specific or particular metrics depending on the activity, here are the 4 main ones that you should not overlook:

First interaction resolution rate

This log measures the percentage of queries and identifies how many were resolved in the first interaction with the chatbot or directly with the human assistant. Of course, the ideal world is to achieve the highest percentage of resolution or gradually increase them, thus ensuring that the organization is able to provide satisfactory answers to customer queries.

Average service times in the financial industry

This is the measurement of the average time it takes the user to obtain a resolution to their query through the conversational commerce system. It is especially important considering that many of the interactions in the financial industry deal with sensitive issues that require agile and even immediate resolution, such as blocking accounts, cards, services, or the acquisition of bonds, products, etc.

Unlike the first point, the ideal in this case is to obtain the lowest possible average time, indicating that the system is working efficiently.

Number of active users

This indicator provides the number of users that interact with our chatbot or agent assistance service in a period of time. The importance of measuring it is to locate the periods of greatest activity and reorganize operations in consideration of such demand in the financial industry.

For example, it is considered that during vacation periods in a given location interactions could decrease or increase depending on the business service and based on this, the operation could be adjusted to offer a proportional amount of automated or human agents. To learn more about the historical trends you can read the McKinsey & Company study.

Conversion rate

The famous conversion rate measures whether the main objective has been achieved 🙂 It is a metric that estimates the percentage of users who complete the desired action, such as making a purchase or opening an account after interacting with the conversational trading system. A high conversion rate indicates that the system is effective in generating business results in the financial industry.

Other important indicators

To conclude, we would like to briefly mention some additional indicators that, although relevant, will be discussed in more detail in a future article:

• Cost per interaction: to estimate the average value of the contact and thus eventually calculate the next point.
• The return on investment, or ROI, which allows us to know if all the effort is generating favorable results in various terms for the company compared to other activities or improvements on the same.
• Net Promoter Score (NPS), which can be measured from different aspects such as surveys mainly or also including user comments, identifiable with solutions such as Text Analytics through Generative Artificial Intelligence in several of our solutions, one of them Social CX, to estimate the level of satisfaction as a community with your interaction and support service channels.

On this occasion, we have focused on those that are most easily identifiable in campaigns and that are essential to evaluate the efficiency of campaigns in the context of conversational commerce for the financial industry.

If you want to know more, you can write to us at info@onemarketer.net and one of our executives will gladly take your request.