Not all sectors have developed digitally at the same pace. It’s not as easy for some business as others to rapidly grow a digital presence. And like most difficult problems, it’s not down to a single, simple reason. Organizational structure, regulatory factors and the pressure to keep the sales funnel topped by using familiar approaches can slow development of a digital strategy.
For Banc of California, they’d grown success by building relationships with their customers via offline channels and by developing strong personal relationships with their business and personal banking customers and within communities in California. But they recognized the need to speak to their customers via all channels and to keep up with competitors and new-to-market financial services that were born digital.
There was no lack of ambition to grow digitally but the question asked of Wyoming was where to focus resource to most efficiently make up ground in a hyper-competitive digital market. With cost per acquisition running to hundreds or even thousands of dollars for some products, we knew we had to be super-critical of our own approach and ensure we understood attribution completely, monitoring every impression, click, share, page view and conversion.