Article

Suzy Coulson
Suzy Coulson 23 March 2016

Getting Personal In Banking

82% of UK & Australian financial service providers are failing to assist returning prospects. No one brand is currently offering a consistently strong customer experience, could this be why?

It was revealed in our recent banking and finance webinar that of the 22 brands we assessed, no one brand is currently offering a consistently strong customer experience along the digital sales journey and only four brands were doing anything to assist prospective customers when they return to the website for further product research.

The benchmark research involving a real-time audit conducted by 510 in-market consumers, exposed just how well brands are performing throughout the key stages of the customers’ online sales journey.

The result? Not great.

On average, the benchmark scores across Australia mortgages (mobile) and UK investments (desktop) are quite low, with Australia savings accounts (desktop) performing slightly better…

Banking.jpg

Can the banking and finance industry improve on these averages?

Data and insights from the research shows that simple improvements could make a big difference to returning users and current customers.

Savings & investments are complex products – don’t make users do the research over and over again….

Customers who have gone through the effort to view and research products are already a fair way down the purchase funnel and are entering the ‘win over’ stage, so it is important at this point to make things as easy as possible for them. This can be achieved by helping to facilitate a visitor’s previous journey on return by making it easier to access previously viewed information and presenting tailored content using the following techniques:

  • Allow customers to save favourite pages/investments/accounts to a list they can come straight back to next time and let them access that list quickly and easily from each page of the site.
  • Recognise and reward previous visits actively – “last visited pages….” , “other interesting pages…”.
  • Ask users if they are existing customers and facilitate a speedier application if so. Then let them login to continue application and encourage them to do so.
  • Allow online retrieval of application status.

And of course, keep abreast of other industries who are leading the way in personalisation and relevancy.

Original Article 

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
Navigating the Future of Personalized Marketing with AI

Navigating the Future of Personalized Marketing with AI

In a world where seventy-one percent of consumers expect companies to deliver personalized interactions. And seventy-six percent get frustrated when this doesn’t happen. Personalization is no longer a luxury; it’s an...

Nick Watt
Nick Watt 21 September 2023
Read more
The Future of Ecommerce with the Metaverse

The Future of Ecommerce with the Metaverse

In a discussion on digital marketing and emerging trends, an aspiring digital marketer raised an intriguing question: "What does the future hold for e-commerce with the rise of the Metaverse?"

Mahboob Ali
Mahboob Ali 30 August 2023
Read more
The Sound of Success: Sonic Branding's Impact on Modern Marketing

The Sound of Success: Sonic Branding's Impact on Modern Marketing

Sonic branding, the practice of creating unique and memorable sounds to represent a brand, is emerging as a critical strategy in the modern marketing landscape. Whether it's a jingle that sticks in your mind or...

Domenique Comparetto
Domenique Comparetto 14 September 2023
Read more
‘Complainer marketing’ – should we harness rage to promote brands?

‘Complainer marketing’ – should we harness rage to promote brands?

As marketers, we're always looking to get the best results for our clients. But should we highjack the emotions of their customers to do so? No, as I explain in this post, you're better than that.

Tom Chapman
Tom Chapman 18 July 2018
Read more
Streaming Society: The Social Impact of Live Streaming in the Digital Age

Streaming Society: The Social Impact of Live Streaming in the Digital Age

This article delves into the social impact of livestreaming, analyzing its influence on communication patterns, community formation, celebrity culture, mental health, and economic opportunities.

Sim Johnsons
Sim Johnsons 1 September 2023
Read more