Charles Stanley is one of the oldest financial services companies in the world, formed back in 1792. As a wealth management firm currently managing over £18 billion in investments, last year the company made waves with the launch of Charles Stanley Direct. This service was designed as an easy and convenient method for clients to manage and make their own investments, without having to rely on advice or recommendations from others. ECS is proud to have assisted the firm with its online investment platform.
By its nature, Charles Stanley Direct is designed to allow online users the ability to search for and identify the investment options which are most suited to their requirements. However, based on Google Analytics data, the company discovered that its search function did not provide the results which visitors required. Data showed that 35-45% of client searches yielded no results, and conversely 15% of searches delivered thousands of potential – but less than ideal – results. Analytics showed that many users closed the website subsequent to performing a search, clearly showing their frustration with the system.
Fortunately, ECS was able to assist Charles Stanley Direct with the quick and inexpensive implementation of the Google Search Appliance (GSA). We took a sample of Charles Stanley’s data and showcased the potential improved search functionality through a number of live demonstrations.
So, how has ECS’s installation of the GSA improved the Charles Stanley Direct customer experience?
The latest statistics have shown that only 5% of searches yield either zero or an unmanageably high number of results, compared to around 65% prior to the upgrade. Customers are also finding the shares and funds which they are searching for, as shown by an impressive 99% click through rate. This figure is a significant improvement on the 20% which was typical only days before. On top of this, Charles Stanley has reported a disappearance of almost all call centre queries with regards to finding stocks or funds.
If you’d like to find out more about this project, check out this video interview with Ed Lecky-Thompson, Head of Digital at Charles Stanley Direct. Ed talks us through the changes which the website has undergone, the statistics behind the new and optimised customer experience, and the impact which improved search functionality has had on the firm as a whole. Another article about the implemention is available on Google Enterprise’s blog.
Contact us to learn more about the GSA or to see what else ECS can do for your business.