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• 7 Fintech Marketing Strategies to Maximise Profits in 2024

  24 juillet 2024, par Erin

  Fintech investment skyrocketed in 2021, but funding tanked in the following two years. A -63% decline in fintech investment in 2023 saw the worst year in funding since 2017. Luckily, the correction quickly floored, and the fintech industry will recover in 2024, but companies will have to work much harder to secure funds.

  F-Prime’s The 2024 State of Fintech Report called 2023 the year of “regulation on, risk off” amid market pressures and regulatory scrutiny. Funding is rising again, but investors want regulatory compliance and stronger growth performance from fintech ventures.

  Here are seven fintech marketing strategies to generate the growth investors seek in 2024.

  Top fintech marketing challenges in 2024

  Following the worst global investment run since 2017 in 2023, fintech marketers need to readjust their goals to adapt to the current market challenges. The fintech honeymoon is over for Wall Street with regulator scrutiny, closures, and a distinct lack of profitability giving investors cold feet.

  Here are the biggest challenges fintech marketers face in 2024 :

  • Market correction : With fewer rounds and longer times between them, securing funds is a major challenge for fintech businesses. F-Prime’s The 2024 State of Fintech Report warns of “a high probability of significant shutdowns in 2024 and 2025,” highlighting the importance of allocating resources and budgets effectively.
  • Contraction : Aside from VC funding decreasing by 64% in 2023, the payments category now attracts a large majority of fintech investment, meaning there’s a smaller share from a smaller pot to go around for everyone else.
  • Competition : The biggest names in finance have navigated heavy disruption from startups and, for the most part, emerged stronger than ever. Meanwhile, fintech is no longer Wall Street’s hottest commodity as investors turn their attention to AI.
  • Regulations : Regulatory scrutiny of fintech intensified in 2023 – particularly in the US – contributing to the “regulation on, risk off” summary of F-Prime’s report.
  • Investor scrutiny : With market and industry challenges intensifying, investors are putting their money behind “safer” ventures that demonstrate real, sustainable profitability, not short-term growth.
  • Customer loyalty : Even in traditional baking and finance, switching is surging as customers seek providers who better meet their needs. To achieve the sustainable growth investors are looking for, fintech startups need to know their ideal customer profile (ICP), tailor their products/services and fintech marketing campaigns to them, and retain them throughout the customer lifecycle.

  

  The good news for fintech marketers is that the market correction is leveling out in 2024. In The 2024 State of Fintech Report, F-Prime says that “heading into 2024, we see the fintech market amid a rebound,” while McKinsey expects fintech revenue to grow “almost three times faster than those in the traditional banking sector between 2023 and 2028.”

  Winning back investor confidence won’t be easy, though. F-Prime acknowledges that investors are prioritising high-performance fintech ventures, particularly those with high gross margins. Fintech marketers need to abandon the growth-at-all-costs mindset and switch to a data-driven optimisation, growth and revenue system.

  7 fintech marketing strategies

  Given the current state of the fintech industry and relatively low levels of investor confidence, fintech marketers’ priority is building a new culture of sustainable profit. This starts with rethinking priorities and switching up the marketing goals to reflect longer-term ambitions.

  So, here are the fintech marketing strategies that matter most in 2024.

  1. Optimise for profitability over growth at all costs

  To progress from the growth-at-all-cost mindset, fintech marketers need to optimise for different KPIs. Instead of flexing metrics like customer growth rate, fintech companies need to take a more balanced approach to measuring sustainable profitability.

  This means holding on to existing customers – and maximising their value – while they acquire new customers. It also means that, instead of trying to make everyone a target customer, you concentrate on targeting the most valuable prospects, even if it results in a smaller overall user base.

  Optimising for profitability starts with putting vanity metrics in their place and pinpointing the KPIs that represent valuable business growth :

  • Gross profit margin
  • Revenue growth rate
  • Cash flow
  • Monthly active user growth (qualify “active” as completing a transaction)
  • Customer acquisition cost
  • Customer retention rate
  • Customer lifetime value
  • Avg. revenue per user
  • Avg. transactions per month
  • Avg. transaction value

  With a more focused acquisition strategy, you can feed these insights into every company level. For example, you can prioritise customer engagement, revenue, retention, and customer service in product development and customer experience (CX).

  To ensure all marketing efforts are pulling towards these KPIs, you need an attribution system that accurately measures the contribution of each channel.

  Marketing attribution (aka multi-touch attribution) should be used to measure every touchpoint in the customer journey and accurately credit them for driving revenue. This helps you allocate the correct budget to the channels and campaigns, adding real value to the business (e.g., social media marketing vs content marketing).

  Example : Mastercard helps a digital bank acquire 10 million high-value customers

  For example, Mastercard helped a digital bank in Latin America achieve sustainable growth beyond customer acquisition. The fintech company wanted to increase revenue through targeted acquisition and profitable engagement metrics.

  Strategies included :

  • A more targeted acquisition strategy for high-value customers
  • Increasing avg. spend per customer
  • Reducing acquisition cost
  • Customer retention

  As a result, Mastercard’s advisors helped this fintech company acquire 10 million new customers in two years. More importantly, they increased customer spending by 28% while reducing acquisition costs by 13%, creating a more sustainable and profitable growth model.

  2. Use web and app analytics to remotivate users before they disengage

  Engagement is the key to customer retention and lifetime value. To prevent valuable customers from disengaging, you need to intervene when they show early signs of losing interest, but they’re still receptive to your incentivisation tactics (promotions, rewards, milestones, etc.).

  By integrating web and app analytics, you can identify churn patterns and pinpoint the sequences of actions that lead to disengaging. For example, you might determine that customers who only log in once a month, engage with one dashboard, or drop below a certain transaction rate are at high risk for churn.

  Using a tool like Matomo for web and app analytics, you can detect these early signs of disengagement. Once you identify your churn risks, you can create triggers to automatically fire re-engagement campaigns. You can also use CRM and session data to personalize campaigns to directly address the cause of disengagement, e.g., valuable content or incentives to increase transaction rates.

  Example : Dynamic Yield fintech re-engagement case study

  In this Dynamic Yield case study, one leading fintech company uses customer spending patterns to identify those most likely to disengage. The company set up automated campaigns with personalised in-app messaging, offering time-bound incentives to increase transaction rates.

  

  With fully automated re-engagement campaigns, this fintech company increased customer retention through valuable engagement and revenue-driving actions.

  3. Identify the path your most valuable customers take

  Why optimise web experiences for everyone when you can tailor the online journey for your most valuable customers ? Use customer segmentation to identify the shared interests and habits of your most valuable customers. You can learn a lot about customers based on where the pages they visit and the content they engage with before taking action.

  Use these insights to optimise funnels that motivate prospects displaying the same customer behaviours as your most valuable customers.

  Get 20-40% more data with Matomo

  One of the biggest issues with Google Analytics and many similar tools is that they produce inaccurate data due to data sampling. Once you collect a certain amount of data, Google reports estimates instead of giving you complete, accurate insights.

  This means you could be basing important business decisions on inaccurate data. Furthermore, when investors are nervous about the uncertainty surrounding fintech, the last thing they want is inaccurate data.

  Matomo is the reliable, accurate alternative to Google Analytics that uses no data sampling whatsoever. You get 100% access to your web analytics data, so you can base every decision on reliable insights. With Matomo, you can access between 20% and 40% more data compared to Google Analytics.

  

  With Matomo, you can confidently unlock the full picture of your marketing efforts and give potential investors insights they can trust.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  4. Reduce onboarding dropouts with marketing automation

  Onboarding dropouts kill your chance of getting any return on your customer acquisition cost. You also miss out on developing a long-term relationship with users who fail to complete the onboarding process – a hit on immediate ROI and, potentially, long-term profits.

  The onboarding process also defines the first impression for customers and sets a precedent for their ongoing experience.

  An engaging onboarding experience converts more potential customers into active users and sets them up for repeat engagement and valuable actions.

  Example : Maxio reduces onboarding time by 30% with GUIDEcx

  Onboarding optimisation specialists, GUIDEcx helped Maxio cut six weeks off their onboarding times – a 30% reduction.

  

  With a shorter onboarding schedule, more customers are committing to close the deal during kick-off calls. Meanwhile, by increasing automated tasks by 20%, the company has unlocked a 40% increase in capacity, allowing it to handle more customers at any given time and multiplying its capacity to generate revenue.

  5. Increase the value in TTFV with personalisation

  Time to first value (TTFV) is a key metric for onboarding optimisation, but some actions are more valuable than others. By personalising the experience for new users, you can increase the value of their first action, increasing motivation to continue using your fintech product/service.

  The onboarding process is an opportunity to learn more about new customers and deliver the most rewarding user experience for their particular needs.

  Example : Betterment helps users put their money to work right away

  Betterment has implemented a quick, personalised onboarding system instead of the typical email signup process. The app wants to help new customers put their money to work right away, optimising for the first transaction during onboarding itself.

  

  It personalises the experience by prompting new users to choose their goals, set up the right account for them, and select the best portfolio to achieve their goals. They can complete their first investment within a matter of minutes and professional financial advice is only ever a click away.

  Optimise account signups with Matomo

  If you want to create and optimise a signup process like Betterment, you need an analytics system with a complete conversion rate optimisation (CRO) toolkit. 

  

  Matomo includes all the CRO features you need to optimise user experience and increase signups. With heatmaps, session recordings, form analytics, and A/B testing, you can make data-driven decisions with confidence.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  6. Use gamification to drive product engagement

  Gamification can create a more engaging experience and increase motivation for customers to continue using a product. The key is to reward valuable actions, engagement time, goal completions, and the small objectives that build up to bigger achievements.

  Gamification is most effective when used to help individuals achieve goals they’ve set for themselves, rather than the goals of others (e.g., an employer). This helps explain why it’s so valuable to fintech experience and how to implement effective gamification into products and services.

  Example : Credit Karma gamifies personal finance

  Credit Karma helps users improve their credit and build their net worth, subtly gamifying the entire experience.

  

  Users can set their financial goals and link all of their accounts to keep track of their assets in one place. The app helps users “see your wealth grow” with assets, debts, and investments all contributing to their next wealth as one easy-to-track figure.

  

  7. Personalise loyalty programs for retention and CLV

  Loyalty programs tap into similar psychology as gamification to motivate and reward engagement. Typically, the key difference is that – rather than earning rewards for themselves – you directly reward customers for their long-term loyalty.

  That being said, you can implement elements of gamification and personalisation into loyalty programs, too. 

  Example : Bank of America’s Preferred Rewards

  Bank of America’s Preferred Rewards program implements a tiered rewards system that rewards customers for their combined spending, saving, and borrowing activity.

  

  The program incentivises all customer activity with the bank and amplifies the rewards for its most active customers. Customers can also set personal finance goals (e.g., saving for retirement) to see which rewards benefit them the most.

  Conclusion

  Fintech marketing needs to catch up with the new priorities of investors in 2024. The pre-pandemic buzz is over, and investors remain cautious as regulatory scrutiny intensifies, security breaches mount up, and the market limps back into recovery.

  To win investor and consumer trust, fintech companies need to drop the growth-at-all-costs mindset and switch to a marketing philosophy of long-term profitability. This is what investors want in an unstable market, and it’s certainly what customers want from a company that handles their money.

  Unlock the full picture of your marketing efforts with Matomo’s robust features and accurate reporting. Trusted by over 1 million websites, Matomo is chosen for its compliance, accuracy, and powerful features that drive actionable insights and improve decision-making.

   Start your free 21-day trial now. No credit card required.

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• CJEU rules US cloud servers don’t comply with GDPR and what this means for web analytics

  17 juillet 2020, par Jake Thornton
  Breaking news : On July 16, 2020, the Court of Justice of the European Union (CJEU) has ruled that any cloud services hosted in the US are incapable of complying with the GDPR and EU privacy laws.

  In August 2016, the EU-US Privacy Shield framework came into effect, which “protects the fundamental rights of anyone in the EU whose personal data is transferred to the United States for commercial purposes. It allows the free transfer of data to companies that are certified in the US under the Privacy Shield.” – European Commission website

  However after today’s CJEU ruling, this Privacy Shield framework became invalidated due to significant differences between EU and US privacy laws.

  European privacy law activist Max Schrems summarises with “The Court clarified for a second time now that there is a clash between EU privacy law and US surveillance law. As the EU will not change its fundamental rights to please the NSA, the only way to overcome this clash is for the US to introduce solid privacy rights for all people – including foreigners. Surveillance reform thereby becomes crucial for the business interests of Silicon Valley.” – noyb website

  Today’s ruling also continues to spark concern into the legitimacy of US privacy laws which doesn’t fully protect people’s personal data when hosted on cloud servers based in the US.

  

  How will this affect you ?

  For any business operating a website in the EU or if you have traffic coming to your website from EU visitors, you need to know what data you’re capturing and where this data is being stored.

  Here’s what Maja Smoltczyk (Berlin’s Commissioner for Data Protection and Freedom of Information) says :

  Controllers who transfer personal data to the USA, especially when using cloud-based services, are now required to switch immediately to service providers based in the European Union or a country that can
  ensure an adequate level of data protection. The CJEU has made it refreshingly clear that data exports are not just financial decisions, as people’s fundamental rights must also be considered as a matter of priority. This ruling will put
  an end to the transfer of personal data to the USA for the sake of convenience or to cut costs.

  The controller is you (not Google) and by transferring data to the US you are at risk of being fined up to €20 million or 4% of your annual worldwide turnover for not being GDPR compliant. 

  It’s you who has to take action, not Google or other US companies. The court’s decision has immediate effect. While we assume there will be a grace period, companies should act now as finding and implementing alternatives solution can take a while. 

  Can no data be exported outside the EU anymore ?

  Data can still be exported outside the EU if an adequate level of data protection is guaranteed. This is the case for some trading partners of the EU such as New Zealand, Japan, Switzerland, and Canada. They have been certified by the EU as having a comparable level of privacy protection and therefore demonstrate adequacy at a country level.

  Necessary data can still flow to countries like the US too. This is for example the case when someone books a hotel in the US or when sending an email to someone in the US. Backups for disaster recovery and most other reasons don’t qualify as necessary.

  In all other cases you can still send data to countries like the US if you get explicit and informed consent from a user. Meaning the user has been informed about all possible risks of sending the data to the US and who can access the data (for example the US government).

  How this affects Google Analytics and Google Tag Manager users

  If your website is using Google Analytics, the safest bet is to deactivate it immediately. Otherwise, you must ask for consent from everyone who visits your website and inform them that the data will be processed in the United States under less strict privacy laws and all associated risks. If you don’t, you could be liable to privacy law infringements and face being fined for not complying with the GDPR. This also applies to Google Tag Manager as it transfers the IP address to the US which is considered personal data under the GDPR.

  Consent needs to be :

  • Freely given (the user must have a choice to not give consent and be able to opt out at any time) 
  • Informed (you need to disclose who is processing the data, what data is processed, where the data will be stored and how to opt out) 
  • Specific (consent is only valid for the specific informed purpose) 
  • Unambiguous (for example pre-ticked boxes or similar aren’t allowed)

  

  If users don’t give you consent, you are not allowed to track them using Google Analytics or any other US based cloud solution.

  Update August 19, 2020

  A month after this ruling, over 100 complaints have been filed against websites for continuing to send data to the US via Google Analytics or Facebook, by the European privacy campaign group noyb. It’s clear Google and Facebook fall under US surveillance laws such as FISA 702 and the court clearly ruled these companies cannot rely on SCCs to transfer data to the US. Anyone still using Google Analytics is now at risk of facing fines and compensation damages. 

  How this affects Matomo users

  Our cloud servers are based in Germany.

  Matomo On-Premise users choose the location of their data themselves. If the servers are located in the EU nothing changes. If the servers are located outside the EU and the website targets EU users and tracks personal data, then you need to assess whether you are required to ask for tracking consent.

  If the data is stored inside the EU you can use Matomo without asking for any consent and you can continue tracking users even if they reject a consent screen which greatly increases the quality of your data.

  Want to avoid informing users about transferring their data to the US and all associated risks ?

  Try Matomo now for free ! No credit card required.

  Download Matomo

• 5 Top Google Optimize Alternatives to Consider

  17 mars 2023, par Erin — Analytics Tips

  Google Optimize is a popular conversion rate optimization (CRO) tool from Alphabet (parent company of Google). With it, you can run A/B, multivariate, and redirect tests to figure out which web page designs perform best. 

  Google Optimize seamlessly integrates with Google Analytics (GA). It also has a free tier. So many marketers chose it as their default A/B testing tool…until recently. 

  Google will sunset Google Optimize by 30 September 2023. 

  Starting from this date, Google will no longer support Optimize and Optimize 360 (premium edition). All experiments, active after this date, will be paused automatically and you’ll no longer have access to your historical records (unless these are exported in advance).

  The better news is that you still have time to find a Google Optimize alternative — and this post will help you with that. 

  Disclaimer : Please note that the information provided in this blog post is for general informational purposes only and is not intended to provide legal advice. Every situation is unique and requires a specific legal analysis. If you have any questions regarding the legal implications of any matter, please consult with your legal team or seek advice from a qualified legal professional. 

  Best Google Optimize Alternatives 

  Google Optimize was among the first free A/B testing apps. But as with any product, it has some disadvantages. 

  Data updates happen every 24 hours, not in real-time. A free account has caps on the number of experiments. You cannot run more than 5 experiments at a time or implement over 16 combinations for multivariate testing (MVT). A premium version (Optimize 365) has fewer usage constraints, but it costs north of $150K per year. 

  Google Optimize has native integration with GA (of course), so you can review all the CRO data without switching apps. But Optimize doesn’t work well with Google Analytics alternatives, which many choose to use for privacy-friendly user tracking, higher data accuracy and GDPR compliance. 

  At the same time, many other conversion rate optimization (CRO) tools have emerged, often boasting better accuracy and more competitive features than Google Optimize.

  Here are 5 alternative A/B testing apps worth considering.

  Adobe Target 

  

  Adobe Target is an advanced personalization platform for optimising user and marketing experiences on digital properties. It uses machine learning algorithms to deliver dynamic content, personalised promotions and custom browsing experiences to visitors based on their behaviour and demographic data. 

  Adobe Target also provides A/B testing and multivariate testing (MVT) capabilities to help marketers test and refine their digital experiences.

  Key features : 

  • Visual experience builder for A/B tests setup and replication 
  • Full factorial multivariate tests and multi-armed bandit testing
  • Omnichannel personalisation across web properties 
  • Multiple audience segmentation and targeting options 
  • Personalised content, media and product recommendations 
  • Advanced customer intelligence (in conjunction with other Adobe products)

  Pros

  • Convenient A/B test design tool 
  • Acucate MVT and MAB results 
  • Powerful segmentation capabilities 
  • Access to extra behavioural analytics 
  • One-click personalisation activation 
  • Supports rules-based, location-based and contextual personalisation
  • Robust omnichannel analytics in conjunction with other Adobe products 

  Cons 

  • Requires an Adobe Marketing Cloud subscription 
  • No free trial or freemium tier 
  • More complex product setup and configuration 
  • Steep learning curve for new users 

  Price : On-demand. 

  Adobe Target is sold as part of Adobe Marketing Cloud. Licence costs vary, based on selected subscriptions and the number of users, but are typically above $10K.

  Google Optimize vs Adobe Target : The Verdict 

  Google Optimize comes with a free tier, unlike Adobe Target. It provides you with a basic builder for A/B and MVT tests, but none of the personalisation tools Adobe has. Because of ease-of-use and low price, other Google Optimize alternatives are better suited for small to medium-sized businesses, doing baseline CRO for funnel optimisation. 

  Adobe Target pulls you into the vast Adobe marketing ecosystem, offering omnipotent customer behaviour analytics, machine-learning-driven website optimisation, dynamic content recommendations, product personalisation and extensive reporting. The app is better suited for larger enterprises with a significant investment in digital marketing.

  Matomo A/B Testing

  

  Matomo A/B Testing is a CRO tool, integrated into Matomo. All Matomo Cloud users get instant access to it, while On-Premise (free) Matomo users can purchase A/B testing as a plugin. 

  With Matomo A/B Testing, you can create multiple variations of a web or mobile page and test them with different segments of their audience. Matomo also doesn’t have any strict experiment caps, unlike Google Optimize. 

  You can split-test multiple creative variants for on-site assets such as buttons, slogans, titles, call-to-actions, image positions and more. You can even benchmark the performance of two (or more !) completely different homepage designs, for instance. 

  With us, you can compliantly and ethically collect historical user data about any visitor, who’s entered any of the active tests — and monitor their entire customer journey. You can also leverage Matomo A/B Testing data as part of multi-touch attribution modelling to determine which channels bring the best leads and which assets drive them towards conversion. 

   

  Since Matomo A/B Testing is part of our analytics platform, it works well with other features such as goal tracking, heatmaps, user session recordings and more. 

  Key features

  • Run experiments for web, mobile, email and digital campaigns 
  • Convenient A/B test design interface 
  • One-click experiment scheduling 
  • Integration with historic visitor profiles
  • Near real-time conversion tracking 
  • Apply segmentation to Matomo reports 
  • Easy creative variation sharing via a URL 

  Pros

  • High data accuracy with no reporting gaps 
  • Monitor the evolution of your success metrics for each variation
  • Embed experiments across multiple digital channels 
  • Set a custom confidence threshold for winning variations 
  • No compromises on user privacy 
  • Free 21-day trial available (for Matomo Cloud) and free 30-day plugin trial (for Matomo On-Premise)

  Cons

  • No on-site personalisation tools available 
  • Configuration requires some coding experience 

  Price : Matomo A/B Testing is included in the monthly Cloud plan (starting at €19 per month). On-Premise users can buy this functionality as a plugin (starting at €199/year). 

  Google Optimize vs Matomo A/B Testing : The Verdict 

  Matomo offers the same types of A/B testing features as Google Optimize (and some extras !), but without any usage caps. Unlike Matomo, Google Optimize doesn’t support A/B tests for mobile apps. You can access some content testing features for Android Apps via Firebase, but this requires another subscription. 

  Matomo lets you run A/B experiments across the web and mobile properties, plus desktop apps, email campaigns and digital ads. Also, Matomo has higher conversion data accuracy, thanks to our privacy-focused method for collecting website analytics. 

  When using Matomo in most EU markets, you’re legally exempt from showing a cookie consent banner. Meaning you can collect richer insights for each experiment and make data-driven decisions. Nearly 40% of global consumers reject cookie consent banners. With most other tools, you won’t be getting the full picture of your traffic. 

  Optimizely 

  

  Optimizely is a conversion optimization platform that offers several competitive products for a separate subscription. These include a flexible content management system (CMS), a content marketing platform, a web A/B testing app, a mobile featuring testing product and two eCommerce-specific website management products.

  The Web Experimentation app allows you to optimise every customer touchpoint by scheduling unlimited split or multi-variant tests and conversions across all your projects from the same app. Apart from websites, this subscription also supports experiments for single-page applications. But if you want more advanced mobile app testing features, you’ll have to purchase another product — Feature Experimentation. 

  Key features :

  • Intuitive experiment design tool 
  • Cross-browser testing and experiment preview 
  • Multi-page funnel tests design 
  • Behavioural and geo-targeting 
  • Exit/bounce rate tracking
  • Custom audience builder for experiments
  • Comprehensive reporting 

  Pros

  • Unlimited number of concurrent experiments 
  • Upload your audience data for test optimisation 
  • Dynamic content personalisation available on a higher tier 
  • Pre-made integrations with popular heatmap and analytics tools 
  • Supports segmentation by device, campaign type, traffic sources or referrer 

  Cons

  • You need a separate subscription for mobile CRO 
  • Free trial not available, pricing on-demand 
  • Multiple licences and subscriptions may be required 
  • Doesn’t support A/B tests for emails 

  Price : Available on-demand. 

  Web Experimentation tool has three subscription tiers — Grow, Accelerate, and Scale with different features included. 

  Google Optimize vs Optimizely : The Verdict 

  Optimizely is a strong contender for Google Optimize alternative as it offers more advanced audience targeting and segmentation options. You can target users by IP address, cookies, traffic sources, device type, browser, language, location or a custom utm_campaign parameter.

  Similar to Matomo A/B testing, Optimizely doesn’t limit the number of projects or concurrent experiments you can do. But you have to immediately sign an annual contract (no monthly plans are available). Pricing also varies based on the number of processed impressions (more experiments = a higher annual bill). An annual licence can cost $63,700 for 10 million impressions on average, according to an independent estimate. 

  Visual Website Optimizer (VWO) 

  

  VWO is another popular experimentation platform, supporting web, mobile and server-side A/B testing and personalisation campaigns.

  Similar to others, VWO offers a drag-and-drop visual editor for creating campaign variants. You don’t need design or coding knowledge to create tests. Once you’re all set, the app will benchmark your experiment performance against expected conversion rates, report on differences in conversion rate and point towards the best-performing creative. 

  Similar to Optimizely, VWO also offers web/mobile app optimisation as a separate subscription. Apart from testing visual page elements, you can also run in-app experiments throughout the product stack to locate new revenue opportunities. For example, you can test in-app subscription flows, search algorithms or navigation flows to improve product UX. 

  Key features :

  • Multivariate and multi-arm bandit tests 
  • Multi-step (funnel) split tests 
  • Collaborative experiment tracking dashboard 
  • Target users by different attributes (URL, device, geo-data) 
  • Personal library of creative elements 
  • Funnel analytics, session records, and heatmaps available 

  Pros

  • Free starter plan is available (similar to Google Optimize)
  • Simple tracking code installation and easy code editor
  • Offers online reporting dashboards and report downloads 
  • Slice-and-dice reports by different audience dimensions
  • No impact on website/app loading speed and performance 

  Cons

  • Multivariate testing is only available on a higher-tier plan 
  • Annual contract required, despite monthly billing 
  • Mobile app A/B split tests require another licence 
  • Requires ongoing user training 

  Price : Free limited plan available. 

  Then from $356/month, billed annually. 

  Google Optimize vs VWO : The Verdict 

  The free plan on VWO is very similar to Google Optimize. You get access to A/B testing and split URL testing features for websites only. The visual editing tool is relatively simple — and you can use URL or device targeting. 

  Free VWO reports, however, lack the advertised depth in terms of behavioural or funnel-based reporting. In-depth insights are available only to premium users. Extra advertised features like heatmaps, form analytics and session recordings require yet another subscription. With Matomo Cloud, you get all three of these together with A/B testing. 

  ConvertFlow 

  

  ConvertFlow markets itself as a funnel optimisation app for eCommerce and SaaS companies. It meshes lead generation tools with some CRO workflows. 

  With ConvertFlow, you can effortlessly design opt-in forms, pop-ups, quizzes and even entire landing pages using pre-made web elements and a visual builder. Afterwards, you can put all of these assets to a “field test” via the ConvertFlow CRO platform. Select among pre-made templates or create custom variants for split or multivariate testing. You can customise tests based on URLs, cookie data and user geolocation among other factors. 

  Similar to Adobe Target, ConvertFlow also allows you to run tests targeted at specific customer segments in your CRM. The app has native integrations with HubSpot and Salesforce, so this feature is easy to enable. ConvertFlow also offers advanced targeting and segmentation options, based on user on-site behaviour, demographics data or known interests.

  Key features :

  • Create and test landing pages, surveys, quizzes, pop-ups, surveys and other lead-gen assets. 
  • All-in-one funnel builder for creating demand-generation campaigns 
  • Campaign personalisation, based on on-site activity 
  • Re-usable dynamic visitor segments for targeting 
  • Multi-step funnel design and customisation 
  • Embedded forms for split testing CTAs on existing pages 

  Pros

  • Allows controlling the traffic split for each variant to get objective results 
  • Pre-made integration with Google Analytics and Google Tag Manager 
  • Conversion and funnel reports, available for each variant 
  • Access to a library with 300+ conversion campaign templates
  • Apply progressive visitor profiling to dynamically adjust user experiences 

  Cons

  • Each plan covers only $10K views. Each extra 10k costs another $20/mo 
  • Only one website allowed per account (except for Teams plan) 
  • Doesn’t support experiments in mobile app 
  • Not all CRO features are available on a Pro plan. 

  Price : Access to CRO features costs from $300/month on a Pro plan. Subscription costs also increase, based on the total number of monthly views. 

  Google Optimize vs CovertFlow : The Verdict 

  ConvertFlow is equally convenient to use in conjunction with Google Analytics as Google Optimize is. But the similarities end up here since ConvertFlow combines funnel design features with CRO tools. 

  With ConvertFlow, you can run more advanced experiments and apply more targeting criteria than with Google Optimize. You can observe user behaviour and conversion rates across multi-step CTA forms and page funnels, plus benefit from first-touch attribution reporting without switching apps. 

  Though CovertFlow has a free plan, it doesn’t include access to CRO features. Meaning it’s not a free alternative to Google Optimize.

  Comparison of the Top 5 Google Optimize Alternatives

  Feature	Google Optimize	Adobe Target	Matomo A/B test	Optimizely	VWO	ConvertFlow
  Supported channels	Web	Web, mobile, social media, email	Web, mobile, email, digital campaigns	Websites & mobile apps	Websites, web and mobile apps	Websites and mobile apps
  A/B testing
  Easy GA integration
  Integrations with other web analytics apps
  Audience segmentation	Basic	Advanced	Advanced	Advanced	Advanced	Advanced
  Geo-targeting
  Behavioural targeting	Basic	Advanced	Advanced	Advanced	Advanced	Advanced
  Heatmaps			No extra cost with Matomo Cloud	〰️ *via integrations	〰️ *requires another subscription
  Session recordings			No extra cost with Matomo Cloud		〰️ *requires another subscription
  Multivariate testing (MVT)
  Dynamic personalisation					〰️ *only on higher account tiers	〰️ *only on the highest account tiers
  Product recommendations				〰️ *requires another subscription	〰️ *requires another subscription
  Support	Self-help desk on a free tier	Email, live-chat, phone support	Email, self-help guides and user forum	Knowledge base, online tickets, user community	Self-help guides, email, phone	Knowledge base, email, and live chat support
  Price	Freemium	On-demand	From €19 for Cloud subscription From €199/year as plugin for On-Premise	On-demand	Freemium From $365/mo	From $300/month

  Conclusion 

  Google Optimize has served marketers well for over five years. But as the company decided to move on — so should you. 

  Oher A/B testing tools like Matomo, Optimizely or VWO offer better funnel analytics and split testing capabilities without any usage caps. Also, tools like Adobe Target, Optimizely, and VWO offer advanced content personalisation, based on aggregate analytics. However, they also come with much higher subscription costs.

  Matomo is a robust, compliant and cost-effective alternative to Google Optimize. Our tool allows you to schedule campaigns across all digital mediums (and even desktop apps !) without a