You Can’t Improve What You Don’t Measure,Track the Right Metrics

Our last post in our series, which started with What it Really Takes to Grow Deposits Online, let’s talk about Metrics.

Without data, you’re just another person with an opinion.”
— W. Edwards Deming

We talk to a lot of banks that are investing in digital growth, marketing campaigns, new account opening flows, even full rebrand, congrats.. they have a GTM Strategy . But when we ask, “How are you measuring success?” the answer often starts and ends with:

“We’re tracking total deposits.” or “We don't have that data”

And sadly… we go back where we started.

If you’re serious about growing deposits online, you need a clear view of the entire journey: from lead to application, to funding, to relationship.

The good news? You don’t need 40 metrics. Just the right ones.

Here are the ones we see separating top-performing banks from those still guessing.

Deposits per Funded Account

Not all accounts are equal. Some users fund with $25 and disappear. Others bring in $25K — $75K or $150K and stick.

Instead of just tracking number of accounts, measure how much deposit value each account brings in and use that to fine-tune your targeting and onboarding strategy.

What it reveals:
Whether your acquisition channels are bringing in valuable, lasting relationships or high-churn, low-balance accounts, it depends on your ICP

Days to Fund

How long does it take for a new customer to actually fund their account?

Faster funding usually means stronger intent and higher trust and it’s one of the most overlooked signals for predicting long-term account value.

What it reveals:
Friction in your onboarding process, or risk flags causing delays.

Drop-Off Rates

At what step in your flow are people leaving?

• Is it the document upload?
• External account verification?
• Waiting for manual reviews?
• That verification code never showed up?

Every drop-off is a growth opportunity hiding in plain sight. Tracking this lets your team prioritize UX fixes that have real ROI.

What it reveals:
Where your product is losing customers before they become depositors.

Resubmission + Recovery Rates

If a user gets denied or abandons the flow, can they come back and finish?

Track how often users re-engage and successfully complete the process, and which notifications or reminders help them do it.

What it reveals:
Whether you’re building a process that adapts to real customers or one that quietly loses them, always search for the WHY? WHY? WHY?

Cost per Funded Account

How much are you spending in marketing, operations, and risk to acquire one funded account, not just a click or signup?

This metric brings together your GTM and product efforts. When paired with deposits-per-account, it’s your clearest picture of CAC-to-value.

What it reveals:
Your efficiency. And where to optimize spend vs. conversion.

Bonus Thought:
Track these metrics by channel and by campaign. Not all traffic is created equal. Knowing which sources bring your most valuable accounts gives you leverage and clarity on where to scale.

The Takeaway:
If you want to grow digital deposits sustainably, measurement isn’t optional it’s your roadmap.

Are you tracking the right metrics for your deposit strategy? If not, we can help you map out what really matters, and what to stop chasing.

If any of this sounds familiar, if you’re unsure where to start or you’ve tried and it’s not delivering, we’re here to listen, help you troubleshoot, and get you moving in the right direction. Let’s talk: https://lnkd.in/eSPvmqsu

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