How Do You Spend Your OnlineTime?

Nice post here at Complete that breaks down Web traffic not by unique visitors or even page views, but by time spent at a particular site. The winner, by a gigantic landslide: MySpace.

Most of the rest of the top 20 aren’t that surprising (Yahoo!, Amazon.com, Facebook, eBay, etc .). It’s interesting to me that only one bank made the top 20: Bank of America. I wonder if this means that:

1. Bank of America simply has a lot more customers than other banks.
2. Its site is so bad (or good?) that it takes longer to use than other banks’ sites.
3. All of those BofA phishing e-mails (it seems I get about 2 a day) have sent lots of customers to the real BofA site to make sure they haven’t been scammed.


egretman

B of A is average. You have to be right. It's all those d*mn emails they send out. I'm thinking of changing credit cards just to get away from them. But would that work? Would they just keep sending me spam?

lermit

Probably 3. As far as I'm concerned.

.lermit

cakeeating

Not having used any of the other bank sites recently (though I did use Sovereign a couple years ago), I can't compare accurately, but my experience with BofA's site has been very pleasant, and I use it for paying bills and transferring money, and also in lieu of paper statements. I log on frequently to keep up with changes in my accounts. The security is good (not overbearing, though when it comes to money, maybe it's impossible to be TOO overbearing), and everything is pretty easy to find. Also complicating this metric is the fact that BofA kicks you off after 10 minutes of inactivity. I wonder how this is taken into account by the rankings.

Perhaps another idea of what this reflects is that BofA is doing a better job of converting their customers to online banking than the other guys and the site has become a resource for money-management. This might be taking it too far, but it's another thought that I can personally vouch for, at least.

It also brings to light the difficulty of finding a truly functional metric for internet use now that the nature of the web is moving away from the pageview. What it means to spend an hour at Myspace is drastically different than spending that hour at a banking site, or watching a long movie on Google Video.

Read more...

rolub

Within the past few months, two of my MBNA credit cards have been transferred to BOA, and as I check my credit card accounts daily to check for theft, I spend a small portion at the website each day.

That being said, the online account access section of their website is more difficult to navigate than the one that MBNA had used. So for me, #2 is appropriate, and #1 is the cause of it.

wesleyb41

Bank of America is HUGE. Their market share makes them the 800 lb. Gorilla. It does not surprise me to see them on this list.

The list was meant to say where people spent the most time. Doing online banking and billpay and similar things does take some time. But, if you visit the site once a week and take care of all your banking needs in one session, it could be an hour or so of time spent.

greenbirds

i used to have a Washington Mutual account, until i moved somewhere that didn't have any of their branches. although I used the Washington Mutual website, it was very limited and all I would use it for was checking my balances.

So, I opened a BofA account in my new hometown, and I couldn't be happier with their website. I'm able to manage most of my finances directly through the site, including: paying all my bills, transferring money to and from my WaMu accounts, viewing my credit card and account balances from other banks, etc.

But it's also true that the website is structured in a way where everything has its own page to navigate through. It even takes two pages to sign-in. I'm sure if they used more Java or Ajax programming in their site, they could streamline their pages, but it would also decrease their page hits.

dansage

Bank of America was one of the first to heavily advertise on-line banking for the average customer. Others may have offered it first, but I think BofA was heavily pushing it. They've always prided themselves on being on top of or providing development to the latest technology which all banks end up enjoying (despite how it sounds, I am not a BofA fanatic). I think it's possible that BofA attracted a lot of people early on that do most of their banking on-line, especially businesses. Other banks were kind of slow to join the on-line banking wagon.

pkimelma

It is too bad that he does not show how he calculates time spent. For example, I often leave this blog open (in a tab of FF) and read bits when I have a chance. So, by any normal calculation, I have it open for many hours in a day, but my eyes are actually on it for far less. What metric does he use? I know my daughter leaves MySpace open for many days, so how does he decide if she is actually using it or just leaving it open? People who use tabbed browsers (which now include IE7) are far more likely to leave pages open for a long time. More sights leave you logged in for longer too, so you cannot use logged-in time either.

senthil

I watched 4 hours of 24 on my space., I don't even have an account on myspace, and I spent 4 hours. Could this explain the skew? Fox hosts its shows on myspace legally.

mpanas

It'd be interesting to see how these percentages were arrived at -- I agree with pkimelma, what does it mean to "use" a website. Also, I assume its very easy to tell what country an IP address comes from (this is US traffic). Since Bank of America is currently #1 when it comes to US transaction volume, it doesn't surprise me to see BoA on this list. Other top banks ... like Citi, JPMC, and Wachovia probably aren't too far behind.

sanjayRA

a friend of mine worked at a consulting firm tracked how people spend their time online at work -- by far the #1 was fantasy sports.

As a former fantasy football player who no longer has the time, it is no surprise!!

looking at the survey, this is almost certainly why Yahoo! is #2 with 8.5%, significantly more than the #3 site at 3.7%. (for those who don't know, yahoo fantasy sports are easy to use and free, and most fantasy football leagues are hosted by yahoo).

rustypipes12

While it certainly comes as no suprise about My Space and Yahoo, I am suprised not to see HSBC bank on there, they are one of the world's largest banks and thier e-banking is both secure and easy to use, it's also free! (I like free!)I haven't paid for checks or postage in over two years! I personally spend most of my time checking e-mail, chatting, and doing investment research.

lmoores

Wow! Who knew how much we crave a time online metric?

Speaking for Compete, we process the clickstream data from our opt-in panel of 2M users to calculate uniques, pageviews, sessions and time spent for each url that we see. Hence time is calculated by comparing sequenced clickstream movement. We limit bias for our metrics by calculating sessions of activity and comparing source data. If someone leaves a browser open all day, we do not consider that page active the entire time. Hope that answers your calc questions…

egretman

B of A is average. You have to be right. It's all those d*mn emails they send out. I'm thinking of changing credit cards just to get away from them. But would that work? Would they just keep sending me spam?

lermit

Probably 3. As far as I'm concerned.

.lermit

cakeeating

Not having used any of the other bank sites recently (though I did use Sovereign a couple years ago), I can't compare accurately, but my experience with BofA's site has been very pleasant, and I use it for paying bills and transferring money, and also in lieu of paper statements. I log on frequently to keep up with changes in my accounts. The security is good (not overbearing, though when it comes to money, maybe it's impossible to be TOO overbearing), and everything is pretty easy to find. Also complicating this metric is the fact that BofA kicks you off after 10 minutes of inactivity. I wonder how this is taken into account by the rankings.

Perhaps another idea of what this reflects is that BofA is doing a better job of converting their customers to online banking than the other guys and the site has become a resource for money-management. This might be taking it too far, but it's another thought that I can personally vouch for, at least.

It also brings to light the difficulty of finding a truly functional metric for internet use now that the nature of the web is moving away from the pageview. What it means to spend an hour at Myspace is drastically different than spending that hour at a banking site, or watching a long movie on Google Video.

Read more...

rolub

Within the past few months, two of my MBNA credit cards have been transferred to BOA, and as I check my credit card accounts daily to check for theft, I spend a small portion at the website each day.

That being said, the online account access section of their website is more difficult to navigate than the one that MBNA had used. So for me, #2 is appropriate, and #1 is the cause of it.

wesleyb41

Bank of America is HUGE. Their market share makes them the 800 lb. Gorilla. It does not surprise me to see them on this list.

The list was meant to say where people spent the most time. Doing online banking and billpay and similar things does take some time. But, if you visit the site once a week and take care of all your banking needs in one session, it could be an hour or so of time spent.

greenbirds

i used to have a Washington Mutual account, until i moved somewhere that didn't have any of their branches. although I used the Washington Mutual website, it was very limited and all I would use it for was checking my balances.

So, I opened a BofA account in my new hometown, and I couldn't be happier with their website. I'm able to manage most of my finances directly through the site, including: paying all my bills, transferring money to and from my WaMu accounts, viewing my credit card and account balances from other banks, etc.

But it's also true that the website is structured in a way where everything has its own page to navigate through. It even takes two pages to sign-in. I'm sure if they used more Java or Ajax programming in their site, they could streamline their pages, but it would also decrease their page hits.

dansage

Bank of America was one of the first to heavily advertise on-line banking for the average customer. Others may have offered it first, but I think BofA was heavily pushing it. They've always prided themselves on being on top of or providing development to the latest technology which all banks end up enjoying (despite how it sounds, I am not a BofA fanatic). I think it's possible that BofA attracted a lot of people early on that do most of their banking on-line, especially businesses. Other banks were kind of slow to join the on-line banking wagon.