How can casino game providers improve the journey…and conversions?

Casino programme

Global Reviews recently ran a hugely successful webinar for the ‘Casino’ sector. Below are some key findings but if you would like to find out more click through to the full webinar here.

The casino customer – what do we know about those looking for a casino game to play? 

Casino PlayersGlobal Reviews’ first wave of Fruition research on the casino market revealed that:

  • 91% begin their gaming journey on a search engine.. so it really is !all to play for”!
  • 56% then move from a search engine such as Google to a brand website. Casino brands should ensure their SEO strategy is focused on this customer journey.
  • 75% already have a casino provider in mind before researching.
  • A casino players’ final decision rests on whether they place ‘trust’ in the brand.

Who is winning at the research stage? 

At the research stage, more than half of the casino players who took part in our Fruition research ended up on these Top 4 sites:

Top 4

What were the reasons for final preference for the Top 4 brands? 

Final Preference

Trust and having used the brand before are the main reason for customers when finally choosing a casino provider. Having a website that is visually appealing and providing plenty of options to choose from are also critical.

There are ups and downs along the casino customer journey! 

There are significant ups and downs along the customer journey. Casino providers certainly don’t make it easy. Industry-wide, ‘Channel Selection’ is a low point.

customer journey

So, how can casino game providers improve the customer journey and ultimately increase conversions? Here are our top tips: 

  • Encourage join up
  • Show users WHY they should choose to game with you
  • Show users how EASY it is to play
  • Enable some FREE play on your site
  • Use multiple navigation routes to get players to game quickly and easily – navigate by ‘types of game’, ‘level of jackpot’, ‘name’ and ‘ease of play’
  • Support channel selection by incorporating contextual help and support, including throughout the registration process

To watch the full Casino webinar click here 

Global Reviews specialises in helping top brands worldwide convert more of their ideal customers online, through the use of the most advanced research methodologies. To find out more about how we can help you and your digital teams, or if your Casino brand would like to be included in our next round of FRUITION research, please contact: 

Hannah-Rose Farrington – Commercial Director

T:         +44 (0) 203725 8260

M:        +353 (87) 1263043

E:         hannah.farrington@globalreviews.com

 

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Telco Blog Series: UK mobile providers losing customers at a critical stage, ‘online purchase’

UK mobile phone providers

Global Reviews recent Telco Digital Effectiveness study revealed that the two critical stages which cause customer frustration and abandonment are navigation  and online purchase.

Telco brands in the UK are losing at the ‘online purchase’ stage, just as their ideal customers are about to buy from them.

Online Purchase

Once again the basic needs of the customer are not being met at the ‘Online Purchase’ stage.

  • Security
  • Help
  • Privacy

Best Practice: Carphone Warehouse and the need for a ‘consistent basket’ 

Carphone Warehouse was the top scorer for the ‘online purchase’ stage of the customer journey. Help is offered to the customer at every step of the online process. ‘What you will need’ at the checkout, encouragement to buy and also details about what you are buying are featured at every step of the process. The customer is reassured at every step of the process that they are buying the right thing.

Carphone Warehouse

A comprehensive FAQ section offers help and advice relating to the customers’ order, not just general help and FAQs.

What does Carphone Warehouse do to help their customers through the online process?

  • Help through the process
  • Reassurance
  • Encouragement to buy
  • What am I going to need? for the checkout

Global Reviews specialises in helping top brands worldwide convert more of their ideal customers online, through the use of the most advanced research methodologies. To find out more about how we can help you and your digital teams, or if your Telco brand would like to be included in our next round of research, please contact us: 

Hannah-Rose Farrington – Commercial Director

T:         +44 (0) 203725 8260

M:        +353 (87) 1263043

E:         hannah.farrington@globalreviews.com

 

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Telco Blog Series: Poor navigation frustrates UK mobile customers

UK mobile phone providers

Global Reviews recent study on the UK Telco market looked at how consumers research and buy a mobile phone, sim card or plan to suit their needs online. The Digital Effectiveness study found that UK mobile providers make the process difficult and confusing for consumers. Poor navigation is one area in which mobile providers are failing their customers.

How are UK Mobile Providers performing? 

Telco Industry Scores

The alarmingly low scores, the lowest being 48% shows us that there are key industry pains.

Where are the ‘Industry Pains’? 

Telco Industry Pains

‘Evaluating Options’ is a key pain for providers in the mobile industry. Essentially ‘Evaluating Options’ equates to “Have you got something to suit my specific needs”? for the mobile customer. In order for customers to be able to evaluate their options quickly and easily, and to find product and plan specifics, navigation needs to be addressed.

‘Online Purchase’ is also a key pain and is discussed further here. 

What do UK mobile customers want? 

  • A product to suit their specific needs at the end of the process
  • A phone on a contract that they can afford
  • An affordable PAYG contract
  • Simply want help to just understand their options

Poor navigation frustrates customers and hinders online purchases 

Task 1 – Consumers in our study were asked to find the cheapest 12 month SIM only contract with 2GB or more of data. This task can be replicated across all of the brands in the market.

Task One

  • Tesco Mobile had a 90% success rate, an 84% satisfaction rate and a 90% evaluation rate
  • In general, UK mobile providers perform poorly on this task.
  • The lowest performing brand had a 32% success rate, a 57% satisfaction rate and a 27% evaluation rate
  • 73% of customers for the lowest performing brand had an issue in finding what was asked in the task
  • Less than one third of customers managed to find the SIM only contract for one particular brand

Task 2 – Customers were asked to find the iPhone with the cheapest Pay Monthly price while having 16GB of storage and a front-facing camera

Task Two

With this task there was a lower success rate.

On average, 61 % of customers had problems finding the phone that matched the specified needs.

  • One brand had an 81% success rate, 70% satisfaction rate and interestingly a 52% evaluation rate
  • One brand in particular had a 0% success rate so nobody managed to find the iPhone on their plan

Voice of the customer suggests frustration 

UK mobile providers do not make it easy to find a particular phone or SIM plan and leads to much frustration amongst customers.

Voice of the customer

Best Practice – Tesco Mobile 

For task one, 90% of customers found the right plan on Tesco mobile with only 10% reporting they had problems doing so.

Tesco Mobile has a simple yet functional and informative table which can be ordered by the top tabs. Customers can decide what is most important and filter options in this way. The page also encourages completion by showing customers the steps along the way therefore encouraging them to buy and to compete the process.

Tesco Mobile

Best Practice – Spark Mobile 

Spark Mobile scored well when we conducted similar research in the Australian market. 52% of customers found success immediately.

A clear page title, relevant terms and labelling and prominent tabs all contribute to a greater task success. Plans and pricing were also clearly labelled from the homepage.

Spark Mobile

  • Tabs labelled according to needs – helps customers to quickly identify each plan type
  • Alternate colouring and bold text used on tabs makes them clear
  • Big, bold text to communicate price – an important factor when matching a plan to needs
  • Clear, consistent headings makes comparing the options quick and easy
  • Insight: Spark visitors encountered the least problems during the match plans to needs task
  • Good comparison tables assist with ‘needs matching’

Best Practice – EDF Energy 

We know that from previous Global Reviews studies, other markets, particularly those with complicated products such as energy retail perform well in these type of tasks. EDF Energy can be used as a ‘Best Practice’ example outside of the Telco industry.Navigation needs to be clear and also needs based. Mobile providers can learn from Energy Retail on how to easily help customers through the process.

EDF Energy

Global Reviews specialises in helping top brands worldwide convert more of their ideal customers online, through the use of the most advanced research methodologies. To find out more about how we can help you and your digital teams, or if your Telco brand would like to be included in our next round of research, please contact us: 

Hannah-Rose Farrington – Commercial Director

T:         +44 (0) 203725 8260

M:        +353 (87) 1263043

E:         hannah.farrington@globalreviews.com

 

 

 

 

 

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Superannuation companies are not delivering on customers’ top needs

Superannuation companies are not delivering on customers’ top needs

Superannuation is a unique industry whereby consumers are influenced as to which brand they choose by a broad range of inputs such as employers, financial advisors and family. With so many external factors feeding into the decision making process, it is imperative that once consumers are on the website that they’re met with a strong online experience, otherwise they’ll be easily swayed by external factors rather than what the brand can offer them that competitor brands cannot.

The top reasons for consumers to shortlist a superannuation brand for further consideration, as defined by market research conducted in January 2016, were brand recognition (I was familiar with their names 48%) and search engine placement (I saw them when using search engine 40%).

Looking more specifically at website performance in conjunction with branding, top rating reasons were trust in the brand (35%), the website helped compare options (26%), product/offers easy to understand (26%) and looks easy to use (25%).

Top reasons for shortlisting a superannuation brand

Why shortlist brands

All these reasons for shortlisting a company each have their own features which can help improve the overall customer experience. As seen from the scores, one of the most important reasons for shortlisting a company is trust in the brand, however, online customer experience research conducted in July 2016 saw an industry average for building trust on the website at only 54%.

While the industry is already making moves towards including more features and functions that can build consumer trust, there are many features and functions that still need to be improved.

There is currently no company within this industry, that we measured, that is performing outstandingly in the area of meeting expectations and building trust. The top performer is Sunsuper with 61%. Considering the average is 54%, the general performance of the industry is pretty poor. The companies that are not scoring well, such as BT (47%) and EquipSuper (46%), would benefit most from improving on features that will help build consumer trust.

Meet expectations & build trust benchmark scores

Meet expectations & build trust

Given the low scores within the superannuation industry, it becomes important to look to other industries to learn ways in which to improve a sense of trust on a website. Nationwide, a UK home insurance company, is the top performer for building trust. Nationwide scores a perfect 100%, which is 39% higher than the top performer in the superannuation industry.

So what can be learnt from the home insurance industry when it comes to meeting expectations and building trust, what is done differently and what is similar?

When comparing Nationwide with the superannuation industry, there are a number of features that the home insurance industry utilise better than the superannuation industry.

  • The first feature noticed when comparing websites, is the lack of a phone number on some superannuation websites. The phone number of Nationwide is hidden under the tab additional information, and while this might not be the optimal way for customers to notice it, it is still accessible.
  • The second feature that Nationwide has is a feedback feature on every page. This can be of major importance for companies to help guide website adjustments to better meet customer needs and lessen any problems customers may experience whilst on the site.
  • The last feature that Nationwide has that many superannuation sites do not, is a trust building page about history of the provider. If customers can see the origins of the company, it can instill a greater sense of trust than having no context as to where this brand came from.

Some other functions that can be of great value, but are not used by a lot of companies within the industry are having ‘why choose us/this fund’ content easily accessible i.e. within a click of the homepage/landing page. Superannuation brands all offer similar, if not the same, products so it is important for a prospective customer to be able to differentiate between brands in order to make an informed decision.

Also important is having information available on the fund’s performance within a click from the homepage, and how the chosen fund compares to other funds. This last feature, the comparing of funds, is currently only used by two companies in the industry. This is an important element that should be used by a brand to differentiate themselves from competitors.

To find out more, please download this FREE report.

Superannuation Digital Effectiveness Report (2016)

Next round of superannuation research is about to commence. Register your details to ensure your brand is captured in the next round of studies.

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Simple tips for current account providers to convert more customers online

Search terms used by UK consumers when looking for a current account a credit card online

Global Reviews recently conducted a study amongst customers who were in-market for a new current account in the UK. As part of the Fruition study, customers were asked to recall current account providers in the UK market, unprompted.

Top 5 Current Account Providers – Recalled 

  1. Santander 53%
  2. Lloyds 51%
  3. Barclays 50%
  4. Natwest 48%
  5. Halifax & HSBC 47%

However, it is interesting to note that after further online research in which customers were asked to shortlist current account providers based on finding the best current account to suit their needs, Nationwide features on top of the shortlisted brands. So somewhere along the customer journey online, Nationwide was found to better match products to needs and in turn was the brand that was shortlisted most in our study.

Top 5 Current Account Providers – Shortlisted

  1. Nationwide 40%
  2. Santander 33%
  3. Natwest 28%
  4. Barclays 25%
  5. Halifax 25%

The reasons why prospective current account holders shortlisted a provider was dependant on convenience and trust. The ‘convenience’ of online banking, coupled with the familiarity and trust in the brand were top of the list for current account customers in the UK.

Reasons for shortlist

These key findings from Global Reviews research reveal the factors which influence customer decision-making online and also provides some insight as to why some brands get selected over others.

What can other Current Account providers learn from Nationwide? 

One key online section that the majority of current account providers miss out on is a well structured and informative “Why Choose Us”. Nationwide very clearly and cleverly provides customers with “6 good reasons” to bank with them.

Nationwide

Final tips to convert more current account customers online: 

Current account providers could easily convert more of their ‘ideal customers’ online by simply adding some useful features and functions such as:

  • Industry awards for their current account product
  • A link to email the current account details to yourself or a friend
  • A link to save the current account to a ‘wish list’ or similar in order to make returning visits easier
  • A guide to choosing the best product for the customer, for example, choosing an account that matches your needs and avoid any excess charges

Simple online features and functions such as those listed above would go a long way in helping prospective customers select the current account that is right for them as well as significantly improving and enhancing the online banking customer experience.

Global Reviews specialises in helping top brands worldwide convert more of their ideal customers online, through the use of the most advanced research methodologies. To find out more about how we can help you and your digital teams, please contact: 

Hannah-Rose Farrington – Commercial Director

T:         +44 (0) 203725 8260

M:        +353 (87) 1263043

E:         hannah.farrington@globalreviews.com

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How investing in a personalised online quote tool for life insurance can help to improve customer experience

older_couple

Recent Global Reviews research which looked at the Digital Sales Effectiveness of the Life Insurance industry in both the UK and Australia revealed that the majority of providers are scoring below average. According to our in-depth research around customer experience in the life insurance industry, the ability to receive a well-tailored, easy to understand and personalised quote is of major importance. Scoring an average of 8.5 for the UK market and an 8.3 for the Australian market (on a scale of 1-10) for customer needs.

Top Needs

Through advanced research methodologies, Global Reviews found that the UK Life Insurance market scored rather low, 53% for the quote tool tailoring features while the Australian market scored substantially higher with 81%. When it came to ‘understanding the quote’, the UK life insurance market scored on average 48% with the Australian market scoring 67%.

UK AU Average

If the UK and the Australia are to be compared, the UK can certainly learn from the features the Australian market has introduced. We looked at top performers on personalised quotes within the Australian life insurance industry and the top performer of the UK in that same category.

RACQ and Coles are the top performing brands in the Australian life insurance market when it comes to a well-tailored and easy to understand quote. RACQ scores 82% on quote tailoring features and 79% on understanding the quote with Coles scoring 91% and 73% respectively.

The features that add to the strength of these top performing quote tools are:

Coles:   

  • Policy additions are listed with a price.
  • The quote includes a reference number.

Coles

RACQ:

  • Summary of key information.
  • There is a clear breakdown of what the price covers.

RACQ

Both:

  • Customers are told whether the quote results are ‘estimates only’ or actual.
  • Quote results link to detailed explanation of the product.

In the UK market, Legal & General scored highest, with 82% on ‘tailoring the quote’ and 60% for ‘understanding the quote’. This is an exceptional result taking into consideration that the average UK score is 53% for ‘tailoring a quote’ and 48% for ‘understanding the quote’.  What is Legal & General doing to achieve high scores?

As part of Global Reviews rigorous research programme multiple features and functions of the quote tool are tested. Our research revealed that Legal & General’s quote tool is tailorable and flexible. The quote gives customers the option to add extra items to their insurance policy. In addition, every policy is listed with a price, and the price is then automatically updated with every adjustment. Another feature that makes Legal & General stand out an easy comparison table for the key insurance products which helps customers to compare options and easily understand the quote. Life Insurance providers across the globe would stand to differentiate themselves and create a better customer experience simply by helping customers through the quote tool, helping them to compare and understand options.

UK L&G

 

 

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Superannuation websites aren’t delivering on the customers’ top needs

superannuation

Written by Justin van Vliet

When asking prospective superannuation customers to rate the most important features while researching for a superannuation provider, the top three responses all revolved around information; information about account fees and charges, information that is easy to understand, and information about investment fee and charges. However, not all superannuation websites are delivering on these needs.

Most important elements on a website when researching superannuation online

important superannuation information

Despite the highest rated information feature being around account fees and charges, Australian superannuation providers are only averaging a score of 38% when it comes to displaying this information on their websites. Of the brands measured, only CareSuper and Equipsuper scored above 40% for this area.

Benchmark scores for feature and functions around fees/charges information

fees and charges scores

The reason why the industry scores significantly low within this area comes down to the use of oversimplified tables used to present fees and charges information. As a result, there is vital information that is missing. The most commonly missing information from company websites are; information on how fees are charged, the frequency and amount of the charges, and basic explanations around the fees. This lack of information presented on their website is the only area that the lowest scoring companies have in common.

Of the brands measured,the companies scoring lower than industry average here are BT, ANZ Super and ING Direct.

So what is it that these companies are lacking and what can they do to improve?

BT, who only scored 10% for fees and charges information, is missing out on at least two features. Firstly, fees and charges are not as clearly labelled as “fees” etc. – meaning that consumers have to work harder to find this information. Secondly, the home/landing page does not have content or a link around ongoing monthly/yearly fees.  BT is the only company that was benchmarked that is currently missing this feature on their webpage.

Whilst ANZ Super and ING Direct have all the features mentioned above, they still have areas where they are lacking and therefore pulling down their scores. Even though ING Direct is the best overall performer within this industry, the website does not score well regarding information on account fees & charges. When comparing ING and ANZ Super in displaying information about fees and charges, their content is similar, but their presentation differs.

ANZ Super – fees and charges informationanz-feesING Direct – fees and charges information ing-direct-super-fees

ING Direct and ANZ Super both scored 30% thanks to both including the same features on their sites. The difference between the two, however, is the way in which they display the information. ING Direct has opted for an accordion approach, which when all the sections are open, result in a longer page using a lot of space, meanwhile ANZ Super uses less space by condensing, and missing out on, critical fee information.

A company that is doing well regarding displaying information about both account and investment fees and charges is CareSuper. CareSuper scored 60%, 22% higher than the industry average for this area. The driver behind the higher score lies within the added content that is presented within the fees and charges table on their website. The table explains the type of fee, the amount, and the frequency of the fee charges. Furthermore, the page also provides an explanation above the table, and a call to action for help if needed. The page also indicates how account fees are charged along with the capability to compare fees to other superannuation funds, the date of when fees/charges are effective, and the terms and conditions surrounding the fees.

CareSuper – fees and charges information

CareSuper

Two companies that are new to the Global Reviews Digital Effectiveness Benchmark study are EquipSuper and Cbus, both of which scored higher than the industry average for the area around fees and charges information. Equipsuper scored 50% and Cbus 40% for their fees and charges information. The features that cause these strong positive scores for EquipSuper is the inclusion of contextual FAQS/a link to FAQs relevant to account fees, in addition to contextual contact details relevant to account fees.

As with BT, Cbus fails to clearly label the fees/charges and display the information ‘above the fold’. However, their score is held up by features that most other companies do not include on their account detail page which is the inclusion of content or link around how fees are charged, and the display of terms/conditions relating to the fees.

Although the majority of the companies within this industry are unfortunately scoring 40% or below for information around fees and charges, there are some quick wins that can help boost the industry average. By making minor changes such as adding more context and detail, this would help to drastically increase the score, the industry average, and ultimately help satisfy more customer needs.

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Web chat? FAQ? Go elsewhere? Preferred methods of support when customers encounter problems online.

Online support

When researching and purchasing a product or service online, there will invariably be situations where a customer will either have questions or encounter problems on the website. There are a multitude of ways in which to answer/solve these problems. Typically, these ways include looking for:

  • FAQs/Help
  • Phone number to call
  • Call me back area
  • Contact us page
  • Web chat
  • Additionally, they could ultimately give up on the company and leave the website in search for another provider.

Between 2014 and 2016, Global Reviews has conducted 114 research studies across the following nine industries in Australia, Ireland and the UK:

  • Banking/Finance
  • Energy Retail
  • General Insurance
  • Health Insurance
  • Higher Learning
  • Sports Betting
  • Superannuation
  • Telecommunications
  • Travel Bookings

In all, 20 products/services within these industries have been assessed against the Global Reviews Digital Sales Effectiveness Benchmark. As part of these benchmarks, 28,268 in-market consumers completed the online sales journey on each of the assessed websites. After completing a series of product research and application tasks, these prospective customers were all asked what they would most likely do if they encounter a problem whilst researching a product/service online.

Across the three regions, it was found that the Irish are less likely to seek out an FAQ/Help page than Australian or British consumers – however it still ranked highly with 20%. This was the preferred method of solving any issues by 24% of Australian and British consumers. The most common method of getting answers for Irish consumers was by looking for a telephone number to call (21%). This method was preferred by 19% of Australians and only 14% of the British.  The use of the telephone appears to be more popular in Ireland not only with making a call, but also in the use of “call-me-back” functions. 11% of Irish preferred this method, compared to 8% in the UK and 7% in Australia.

The use of web chat features rated more prominently for UK sites with 22% preferring this method. Ireland and Australia were a bit lower here with 19% and 18% respectively.

Problems REGION

The differences in what consumers would do if they encountered a problem are not limited to regions, consumer behaviours also differ depending on what product/service they are researching.

Banking & finance

Across the banking and finance sector, help preferences are fairly similar across all products, except for savings accounts where there’s a stronger propensity to seek out FAQs and less of a risk of opting to leave the website and look for another provider.

Problems BANKING

Insurance

Within the insurance sector, travel insurance is a bit of an outlier – most likely due to the short term nature of the policies. There tends to be less of a connection to travel insurance as there is for health, home and motor insurance, with one in five customers opting to find another provider rather than persisting on the website. Despite this higher rate of abandonment,  one in four customers would use FAQs, compared to the one in five for the other insurance products.

Health insurance is slightly above average for seeking out a telephone number and slightly below average for leaving the website.

Problems INSURANCE

Telecommunications, Energy, Higher Learning, Gaming & Travel

Unlike banking and insurance, telecommunications has quite different preferences when customers encounter problems online. Despite internet service providers and mobile phone providers typically being the same company, those looking for a mobile phone provider are more likely to take the self-help route with 30% saying they would look at FAQs/Help compared to the 23% who would do the same when looking for an internet service provider. This means that telecommunication companies need to be catering to differing needs within each area of their website by considering the placement and weighting of help features. What is more important for those looking at mobile phones is different to that of those looking at broadband.

Problems MISCLooking at travel it appears that those looking for domestic flights are more inclined than those looking for international flights to want to speak to someone – whether that be via phone or web chat. This could be due to dealing with local support staff within the same timezone whereas for international flights the staff could be located anywhere depending on the intended destination. This does bring a higher risk factor for international flight sites where 21% of consumers stated that they would leave the site and look for another provider if they encountered a problem.

Unlike other industries, higher learning organisations truly offer unique products which in turn means that prospective students are forced to persevere on the site if they encounter problems unless there is another university that offers the same courses under the same conditions e.g. location. As a result, only 11% said they would leave the site if they had a problem, meanwhile an overwhelming 36% would use FAQs and 27% would look for ‘Contact Us’ information.

What this data shows us is the different research processes customers go through depending on the product or service they are wanting to purchase/apply for. Even within the one brand’s website, there are different wants and needs depending on the product. Therefore, brands need to be aware of the research habits of their customers and tailor each area of their website accordingly.

The alternative is losing these prospective customers to someone else when they give up on a site and go elsewhere.

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General Insurers – Simple Steps to Optimising Online Customer Conversion

General

Here at Global Reviews, we are fully focused on helping brands worldwide across multiple industries to increase their online acquisition ratios and conversion rates. One such industry is insurance and interestingly, our most recent data revealed that both home and motor insurance providers struggle at helping customers across each stage of the online customer sales journey.

The Sales Effectiveness Customer Journey 

The sales effectiveness customer journey follows the user through the four stages of consideration followed by the two stages of action.

Customer Sales Journey

  1. Initial Engagement – a user is introduced to the website
  2. Introducing Options – locating various insurance options
  3. Evaluating Options – considering different policies
  4. Facilitating Decisions – making a final decision on which insurance policy to choose
  5. Channel Selection – choosing how and where to purchase the insurance policy
  6. Application Form – purchasing the insurance online

It becomes apparent when we look at the scores across the stages for insurance providers in Ireland, UK and Australia, that there is a very common theme. The focus for insurance brands tends to gravitate towards the book ends of the customer sales journey,’Initial Engagement’ and the ‘Application Form’. As a result, insurance providers are failing to focus on their customers needs and wants when it comes to finding the correct insurance policy, ‘Evaluating Options’. It is at this stage we can see the scores drop across the various regions.

Motor Insurance Customer Journey

Drilling down further, and looking at the low ‘matching products to needs’ scores across a number of brands in Ireland, UK and Australia, it is evident that insurance customers struggle to find relevant product details to ensure product details matched their specific needs.

Matching products to needs

What steps can insurers take to increase online customer acquisition ratios? 

Simple improvements can make a big difference.

  • Highlight the value of the quote
  • Ensure that comparison tools and tables have a call to action.
  • Help customers differentiate between insurance covers. Ensure that customers have the right cover to suit their specific needs.
  • Highlight key product features but link to full detail pre-quote.
  • Ensure navigation is easy to follow. Clearly communicate the starting point for customers.
  • Calculators help users to make informed choices
  • Clearly communicate trust

To find out more, join our upcoming General Insurance webinar 

Global Reviews is a recognised world leader at providing leading companies with unique intelligence that helps increase their online customer acquisition ratios.

To find out more about our research programmes and how we can help you convert more of your ideal customers online, please contact:

Hannah-Rose Farrington – Commercial Director

T:         +44 (0) 203725 8260

M:        +353 (87) 1263043

E:         hannah.farrington@globalreviews.com

 

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Importance of motor insurance providers presenting a strong value proposition

Motor Insurance Value Propersition

Along with brand trust, having the best offers and prices is a key driver for getting shortlisted and finally selected by a customer. When compiling a shortlist of motor insurance providers, 42% of consumers put a brand on their consideration list because they had good prices/offers.

Budget Direct is a brand with relatively low initial recall of just 18% compared to AAMI’s 66% unprompted recall rate, according to the most recent data from our Digital Marketing Effectiveness studies. However, once customers did their initial research, 27% placed Budget Direct on their consideration list. Given that Budget Direct scored an impressive 78% in our Digital Sales Effectiveness benchmark for their site content around value proposition, their strong inclusion on shortlists is not surprising. They sit well above the industry average of 41% for their value proposition content, and hold a 22 point lead on Coles Insurance and GIO who share second spot each with a score of 56%.

Brands that cannot compete on price need to be focusing on clearly communicating what their value proposition is, otherwise they will lose out to brands who are in a situation where they can offer the lowest prices.

For a non-tangible product such as insurance, it can be difficult for consumers to determine the difference between policies offered by different brands. Therefore, brands need to be able to set themselves apart by including things such as a slogan to identify their competitive advantage.

Explain to the consumer what it means to be a policy holder with you. All insurance products offer protection, so what does your brand offer that nobody else does?

In addition to explaining what sets a brand apart, companies also need to be ensuring that they refer to the customer needs rather than solely focusing on the product. Using user centric language such as ‘you’ and ‘your’ can help to engage the consumer as it can turn the language used from feeling like jargon to becoming more conversational and relatable.

All of this helps to build a stronger brand impression whilst delivering a value proposition consumers can relate to and understand. This strong brand impression in turn helps to drive higher conversions online.

To learn more download our FREE report or join our upcoming webinar.

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