What do our credit union clients want most? Tracking! Many of our credit union clients come to us because they want better tracking and reporting. They want to be able to show that their digital marketing efforts are making an impact on business, leading to submitted applications.
The tricky thing about tracking with Google Analytics is that it requires installing Google Tag Manager (GTM) code on loan/account applications to collect the most data. And not all LOS providers are willing to install the GTM code.
That said, if you are reading this and your credit union uses Lending360, you fall into the category of LOS limitations. Though Lending360 previously allowed Google Analytics on applications through the use of GTM, it is unfortunately no longer permitted. While you will still be able to see submitted applications by creating custom Google Analytics code, you will not be able to break those submissions down by marketing campaign or have full visualization of the loan funnel.
What Do You Get with Full Tracking?
Though full tracking isn't possible since Lending360 does not allow GTM on applications, it is helpful to know what this kind of tracking would look like with a different LOS. Full tracking allows marketers to break down application submissions by source. For example, you can see how many auto loan applications came from a specific Google Search advertising campaign in a given time period.
Tracking with Google Analytics through GTM also allows you to visualize the loan funnel and see where users are dropping off in the application. Here is what that looks like when it is built out in Datastudio, one of our favorite reporting tools:
This article goes into more depth about which LOS providers support full end-to-end tracking. If you're considering switching providers, we strongly recommend having a clear understanding of what they are capable of first.
In the meantime, make sure that tracking is set up to its fullest potential on Lending360.
The creation of custom Google Analytics code for tracking does take an expert to write and install to ensure all data populates correctly. WebStrategies has successfully gotten application submission tracking set up through custom Google Analytics code on Lending360 for a number of credit union clients. Let us help you take your tracking as far as it can go!
Note: LOS providers can change their rules and regulations regarding installing code on applications. At the time of publishing, Lending360 allows the installation of custom Google Analytics code for tracking.
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