Technology used: IconNicholson
TowerGroup, Purchase, NY is a research and consultancy firm focused on the strategic use of technology in the global financial services industry. Its clients are senior managers at financial and IT firms and organizations doing business with them.
IconNicholson, New York, was tasked to rebuild TowerGroup’s Web presence to offer a custom platform for cross-referenced reports, statistics and company and product information instead of PDF versions of printed research reports. The design firm devised a site that maximized subscriber conversion by exposing users to the range of TowerGroup research. It also increased usage of the client’s services by featuring the most relevant content.
“The Web site is a key channel for delivering monthly reports to subscribers and, unlike other channels, provides a desktop toolbox that enables both subscribers and analysts to perform their daily work with advanced ease,” said Walter Kitchenman, vice president at MasterCard Advisors. “A focal point of the redesign was to maximize the site as a research tool and therefore to increase TowerGroup’s value to its clients.”
Results: TowerGroup sought to measure the project by its ability to compartmentalize and organize research into individual customer-facing almanacs offering company and product information as well as access to raw numbers. These now have distinct permissions and are priced at a premium.
Mr. Kitchenman noted that the key to renewals for a subscription-based service is placing the site in the path of critical workflow. IconNicholson made this possible through the redesign based on reports generated by the administrative tool showing exactly how individual and corporate users access the site and use new features.
“Other reports show that Web traffic has increased tenfold as subscribers use the site for its tools as well as to download research papers,” he said. “Record sales were generated in the initial month of launch, both new subscriptions and renewals. TowerGroup analysts are also in touch with clients daily, and feedback has been universally positive.”
Previous system: Reports were copied and mailed at great expense. The new site’s user-friendly navigation and management of online queries cut costly interactions concerning individual reports and exhibits.