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
7 reasons why social media marketing is important for your business

7 reasons why social media marketing is important for your business

Social media is quickly becoming one of the most important aspects of digital marketing, which provides incredible benefits that help reach millions of customers worldwide. And if you are not applying this profitable...

Sharron Nelson
Sharron Nelson 6 February 2018
Read more
8 Digital Marketing Trends to Watch in 2023

8 Digital Marketing Trends to Watch in 2023

The internet has conditioned customers to demand instant gratification, and that’s only set to continue. In 2023, customers will expect a response time of just hours. No more sending an email and waiting days for a...

Azeem Adam
Azeem Adam 3 May 2022
Read more
The Impact of New Technology on Marketing

The Impact of New Technology on Marketing

Technology has impacted every part of our lives. From household chores to business disciplines and etiquette, there's a gadget or app for it. Marketing has changed dramatically over the years, but what is the...

Alex Lysak
Alex Lysak 22 September 2020
Read more
How to Encourage Customers to Post Photos about Your Brand

How to Encourage Customers to Post Photos about Your Brand

Visuals impact buyer behavior – there’s no doubt about it. But not just any visuals will have the impact you planned on your eCommerce marketing strategy. If the only images your customers see in relation to...

Luisana Cartay
Luisana Cartay 8 June 2016
Read more
14 Benefits of Good User Interface Design

14 Benefits of Good User Interface Design

The most effective User Interface (UI) Design is born from being a part of the wider User Experience (UX) process. While best practice solutions exist, they should never be blindly applied without careful...

Alaina Roberts DipM MCIM CM
Alaina Roberts DipM MCIM CM 19 July 2019
Read more