It ain’t what you do it’s the way that you do it…

UX form design

…and that’s what gets results.

 

Here, at Global Reviews, we are always looking for ways to help our clients optimise their digital customer experience, from switching energy providers, applying for new bank account, or getting a quote for health or car insurance. The client result: insights that increase their bottom line.

One way of doing this is by making sure that the path to purchase is as easy as possible. In this blog I will focus specifically on form design.

In the last 18 months, Global Reviews has run over 60 studies that tested forms from over 300 brands, across a diverse range of industries such as, insurance, energy, higher education and finance, from brands in the UK, Australia, Canada and Ireland. From this research, we have found that there are four key stages to successful form design:

  1. Preparing for purchase
  2. Form features and functions
  3. Form Help and support
  4. Completing the purchase

Preparing for purchase

This is all about upfront expectation setting. Here are a few examples:

Don’t:

  • tell me I don’t qualify for this when I’m right in the middle of process
  • tell me it’s going to take three minutes when it’s closer to seven
  • leave me guessing as to what’s involved and what you might be asking me
  • tell me what I need to have when I need to have it

Do:

  • communicate eligibility criteria
  • be accurate with the amount of time it’s going to take
  • clearly explain the process and what will happen next
  • communicate upfront the information I need to have to complete the process

Form features and functions

This is all about the features and functions, the design patterns, that users will interact with. Firstly, we have the framework that the form components themselves reside in, for example:

  • Multiple steps
  • Single page
  • Progressive reveal
  • Conversation design

These aren’t necessarily mutually exclusive, but our tests show that some resonate better than others. Increasingly we are seeing many industries moving to a conversational design pattern in a bid to better match a product to user’s needs. This pattern was largely driven by legislative changes but increasingly business is realising it’s not about what products they have, it’s about whether I, the consumer, can get what I need with their products.

Then we have the components themselves, which interaction design pattern is better for example, when inputting the date of birth. While our studies don’t go down to testing this level of detail, we do review the forms of those who have high success, confidence and satisfaction scores, analyse what they are doing and compare them to brands who don’t perform as well.

Form help and support

This is all about how you promote self-service, provide interventions and give confidence to the user so that they continue forward. It covers areas such as error handling, security and privacy, help channels and exit strategies. It is often overlooked but can be the difference between someone competing that purchase or abandoning midway.

 

Completing the purchase

This is all about encouraging completion on the results page. Too often this page is overlooked and opportunities are missed to ensure that the user doesn’t abandon at this stage. There are a number of best practice approaches to increase the chances of conversion, such as:

  • Keep initial information simple but enable users to access further detail
  • Recall the benefits of applying online
  • Provide content which improves the perception of value
  • Cater to prospects who won’t buy online

From those studies there are a number of brands that stand out when it comes to designing forms. They do so because they have carefully designed their path to purchase so that it meets the criteria of those stages.  Here are some examples of how those brands are creating a better experience.

Preparing for purchase – Bank of Montreal, Canada

Bank of Montreal is a top performer, achieving 100% for features and functions for ‘Preparing to purchase’.

  1. Highlights brand differentiators
  2. Promotes reasons to choose the online channel to apply
  3. Caters to different audience needs
  4. Highlights benefits and reasons to choose the brandPreparing for purchase BMO

Form Function – Sonnet, Canada

Sonnet almost presents a one page form, the primary page captures key personal and product information, which is then prefilled into a second page with one or two extra questions. The prefilling of questions drives a quick and easy experience.

  1. Sonnet use only four free text questions in the entire journey. The majority of question types present are drop down, single select questions
  2. The second page presents 7 questions, 5 of which are prefilled based on previous answers

Form Function – Sonnet

Form Help and Support – Beagle Street, UK

Beagle Street provide integrated help and support during their quote process.

  1. Help and support content is tailored to the specific area of enquiry. Here, where users may want a detailed description of the differences in the types of cover, a video is provided is embedded into the help section
  2. A large ‘i’ icon directs users towards any help and support related to the page

Form Help and Support – Beagle Street

Completing the purchase – 123.ie, Ireland

123.ie are one of only two providers credited with the ability to view a summary of key information entered.

  1. 123.ie call out the online savings as a separate price – interestingly, 123.ie lead with the online saving price leaving the actual price further down the page
  2. 123.ie provide links to detailed explanation of the product

Completing the purchase – 123.ie

These are just a small sample of the insights we deliver to clients. If you’d like to know more about how you can optimise your digital experience, please get in touch with us.

 

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Will the marketplace strategy shake up the financial services industry?

As we all head to marketplaces to pick up those last minute gifts for Christmas, it seems like a good time of year to talk about the growth and shake up of the financial services industry with market place strategies. Online marketplaces are fast-becoming the favourite destination for online shoppers, with almost 70% of Australians visiting an online marketplace or auction site like eBay or Amazon every month. Marketplaces have boomed in recent years, growing by 74.8% in 2017 alone (Roy Morgan research Jun 2018). With the increased uptake of marketplace sites like Etsy, Uber and AirBNB we have to look at the reasons why these sites are so popular with consumers. What are the benefits of creating an online marketplace?

The marketplace model is based on carriers realising you cannot be the best at everything and resources are too scarce to keep up. In the marketplace model, brands give their customers access to third parties with the best products, the most pleasant customer experience and the lowest costs.

The marketplace business model cuts both ways. Customers get continuous access to the best products and services in the market and costs can be kept at a minimum through connecting (or disconnecting) parties almost in real time to key in on new customer wishes and anticipate other market developments.

Retailers such as Catch and Myer have recently opened marketplaces, recognising the benefit of increased customer traffic and expansion into other categories.

myer market place

“It’s about enabling customers to move freely between brands, channels and product solution,” says Suncorp’s chief executive for Customer Marketplace, Pip Marlow. Suncorp Australia has recently launched a $100 million digital marketplace platform. Users can now view all banking and insurance products in the one online portal from all their brands – Suncorp, AAMI, GIO, Bingle, Shannons and Vero. “We really wanted to move to a level of aggressive transparency across the brand, making sure customers knew what was available to them – and had that choice as part of it.”

suncorp marketplaceThis marketplace model is in direct contrast with the strategy of other financial brands such as Commonwealth Bank and Westpac, which is to keep customers contained to the one brand.

Monzo, Starling, N26 (challenger banks) and TSB are all launching a marketplace offering. This banking business model is on the basis of shared value where the provider creates value for the customer. Value is passed to the customer and the provider takes a referral fee from the beneficiary. Examples include foreign exchange fees, switching energy providers and switching telco providers.

N26 has partnered with TransferWise to let customers make foreign currency transfers, and with vaamo to make investments, all from within its mobile app.

n26Starling Bank recently launched its current account, the only product it will build in-house. Through its marketplace it will give customers access to P2P loans, investments, and has partnered with TransferWise. In the longer term, it plans to offer customers a choice of multiple products in each sector, and to partner with companies in the retail and lifestyle sectors.

starling bankOther companies adopting the marketplace model are Amazon, who is looking to offer bank accounts and already offers loans, along with Google, Facebook and Apple who either have banking licenses or are looking to acquire one.

The big sell for marketplace is that the customer journey and experience is both a satisfying and convenient one allowing for easier navigation and management from a central location. This new approach offers more competition through transparency, choice and better pricing.

We see marketplaces playing an even bigger role in the future.

Who will be next to implement this strategy?

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How are providers satisfying the need for human interaction while promoting self-service?

human interaction vs self service

Written by Geri McGann & Suzy Sliwczynski

In our blog post Can buying a home ever be a true end-to-end online service? we discussed the challenges facing providers when trying to make an online mortgage application a truly digital experience reducing the need to speak to someone directly. We saw within an online mortgage application, making sure they had the right mortgage product was one of the key moments that participants were dropping out of the application funnel. Other industries providers also face this challenge of trying to match a product to the needs of a prospective customer.

Within the health insurance industry, consumers can be faced with over a hundred health plans from which to choose from. In the energy industry, while it’s a lot less, they can still have up to 10 different plans to choose from. So what trends are we seeing that reduce the need for prospects to call a provider, but still provide that important human interaction that many still require to ensure they are getting the product that’s right for them?

We have seen two distinct patterns emerge that seek to reduce direct contact by:

  1. helping prospects choose a product that’s right for them
  2. still provide a human-like interaction

These patterns centre around the use of ‘conversational’ design patterns to help match a product to a user’s need, and the increased uptake of online chat to support customers throughout the acquisition funnel (a feature whose usage and expectation has increased amongst consumers).

Conversational design patterns act as a Q&A-type interaction to help understand user needs and direct them to a suitable product. One of the first initial adopters of this pattern was US health insurer, Oscar, but we are seeing it being implemented by Australian health insurers like Frank, Australian energy providers like Dodo, UK energy company Bulb and Irish health insurer Vhi.

frank dodo bulb vhi

Most providers start by asking a series of questions upfront and then show suitable plans/products. In the Frank example, Frank keeps it to simple initial questions before showing 13 products which might suit. Users can then add additional criteria to reduce this number down further.

Vhi also use it to show prospects how the number of plans available to them initially are reduced by entering criteria that’s specific to them. In the example below we see the number of plans going from 71 to 5.

vhi narrow down quote

These approaches serve to:

  1. not overwhelm users with loads of different options upfront, which make it difficult to know where to start
  2. help users determine what initial criteria is important to them, and from there they can make additional tweaks and alterations to tailor their plan further
  3. help users find a plan in a user-centred way, using language they understand, as opposed to a provider-centric approach where, for example, products might be listed in alphabetical order

A recent Global Reviews mobile study1 of Irish health insurance providers suggests the Vhi model works better when matching to needs with participants having a greater chance of finding a plan that suits their needs and less chance of abandoning.

Online chat is being increasingly sought after by users who are still not confident and need help. For the last four years we have benchmarked 182 brands across 14 industries and have been tracking what users would do if they encountered problems on a website. Online chat is the channel that has seen the largest growth and is an expected channel in almost all the industries we conduct studies in.

Question: If this was a real-life situation and you encountered problems on a website whilst researching, please select what you would do next

Question: If this was a real-life situation and you encountered problems on a website whilst researching, please select what you would do next (online chat)

 

Click Loans – a 100% online mortgage company – provide online chat and also offer other alternative channels referring to them as ‘Talk to a human’.

click loans online chat or talk to a human via phone or skype

Some providers are using the chat model as a complete end-to-end solution. US insurer Lemonade, which offers renters and homeowners insurance online and via mobile, mimics a chat interaction with “Maya” from the beginning of journey. This ‘humanises’ the process making it feel more like a conversation than a form-filling exercise.

Lemonade maya

Making users feel in control and giving them freedom of choice is important however this needs to be balanced by not overwhelming them with choices either.  Conversational design patterns provide a ‘humanistic’ approach to helping users filter and sort through plans and products. But sometimes they need more reassurance when buying particular products and services where they might be locked in for a period of time and/or paying significant sums of money. In this instance an online chat feature can serve to provide timely intervention and help mitigate drop-off even after the consumer has left the site.

Increasingly we are seeing more instances where the chat model is moving beyond the website and into messenger programmes and apps. This enables brands to continue the conversation even when the customer has left the site. This style of chatbot is typically designed to send notifications to customers, update them on their purchases and remind them of upcoming events.

Bank of America has recently launched an AI-powered chatbot powered app called “Erica” who acts as a personal banker. “Erica” marries together self-help tools and customer service, giving consumers a sense of human interaction while also delivering on self-service.

Bank of Ameria Erica

Not all chatbots are humanised in the way that Lemonade’s “Maya” and Bank of America’s “Erica”. UK insurance provider, Aviva, clearly present their chatbot as being just that…a bot. It does, however, still employ a conversational tone making it easy to interact with.

aviva chatbot

Gartner has predicted that “by 2020, customers will manage 85% of their relationship with the enterprise without interacting with a human.” This is not to say that chatbots such as “Erica” will take up 85% of the interactions, but increased use of chatbots will certainly contribute greatly towards the total.

In 2016, 1.6 billion people were using mobile messaging apps, in 2018 that number is expected to reach 2 billion people, or 80% of all smartphone users. This means that the use of chatbots gives businesses a huge opportunity to reach consumers to help drive awareness, acquire customers, provide customer care, and enable transactions.

Whether it be in-site, through specific apps or via Facebook messenger, there is no doubt that chatbots are going to be playing an instrumental role in the future of digital customer service and brand interaction. While providers always need to give users a choice of how they would like to interact with them, they also need to promote self-service and reduce costs. These two patterns provide a nice way to meet both users and business needs.

1Global Reviews Mobile Fruition Ireland Q3 2017 (N=147)

Global Reviews is currently running researching into the digital maturity of brands across a number of industries. Contact us to learn more about how companies are using online chat and what the future holds for digital.

 

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University Series: Understanding how prospective students search on university websites

In this week’s 2 series blog post, we unravel insights from our recent study in the Higher Learning space. The main purpose of carrying out this research, was to find out answers to the way prospective students search for a course on a university website.

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Can buying a home ever be a true end-to-end online service?

Written by Geri McGaan – Principal Client Advisor

Today we don’t give a second thought to buying online. From products like groceries, clothes, and books, to services like TV subscription, flights, and insurance. For most of us, it’s an everyday occurrence. But what about bigger, more significant purchases, where we are parting with large sums of money? Will there come a time when, for example, buying a house online is common place? Is it even realistic to expect someone to make an expensive purchase without talking to someone or at least having some human interaction? Is there even an appetite there from consumers to be able to do it?

Depending on the product or service, the complexity of consumer concerns differ, for example, when buying car insurance, our studies show that the top drivers for choosing a provider at final preference are price and (provider) familiarity (1). However, buying a home is one of the biggest purchases we will make during our life so, more complex questions need addressing such as:

  • How do I get a mortgage and how do I know if I qualify?
  • What type of mortgage is best for me?
  • Which product offers the best interest rate?
  • What do my monthly repayments look like?
  • How much deposit do I have to put down?
  • How long will the application take?

Making buying a home a truly end-to-end process brings with it a wide variety of challenges for providers. In 1981, 22% of home buyers read newspaper ads to find a home and eight percent used friends as an information source. In 2016, 44% looked for properties online first (2). So what about the mortgage application process itself?

A Global Reviews study undertaken in Q3 2016 identified that 26% of participants (N=250) want an end-to-end online mortgage application form service (figure 1), however completing one feels more appropriate at certain stages in their purchase journey and varies depending on their status e.g. a first-time buyer vs a second-time buyer (figure 2).

Figure 1: Please rate how important the following elements would be on a website when deciding on selecting a home loan

Figure 2: When would consumers interact with a home loan provider’s website?

When reviewing the mindset of consumers around online mortgage applications a further study (3) revealed:

  • Most consumers believe that completing an application form online will give conditional approval (with full approval pending confirmation of details of sale and financial details), not full approval. With most expecting to receive an email more so than any other form of communication
  • First home buyers are more likely to use the website to understand their borrowing power rather and seek conditional approval, pending financial and purchase details, however human interaction at some point remains important
  • Having an online application form is not enough of an incentive to encourage consumers to choose a provider, offering discounts on fees and charges makes applying online more appealing for first and second home buyers

So while the home loan providers website has a place, there are still many who want to speak to someone at some stage, regardless of age.

When testing the online application form itself, the highest drop-off for completing an online mortgage application, happens at product selection section, where participants are asked to choose their mortgage. Other issues reported were around duration, terminology, security, and support. With providers looking to cut costs and increase market-share at every stage, if they want to move more complex transaction online, like buying a house, key concerns need to be addressed, such as:

  • Reassuring prospects that the product they have picked is right for them – our study showed that the key moment within the application journey where participants drop-off was at the product selection stage, where participants are asked to choose their product
  • Setting expectations upfront:
    – what are the qualification criteria for applying online – only existing customers?
    – how long can they expect the application to take?
    – what information do they need to have to complete it?
    – how will they be informed of application approval and how long will this take?
  • Providing the appropriate level of help and support at the different stages of the process bearing in mind that first-time buyers may need more hand-holding
  • Being transparent and providing information such as the cool-off period
  • Making them feel their information is safe and secure

But having an online application form is not enough of an incentive for consumers to choose a home loan with that bank – monetary incentives, such as discounts and special rates are more likely to motivate consumers.

What’s likely to influence customers to use an online application form?

So, while some financial institutions are already enabling customers to buy their house online consumers current (and correct) perception (and their expectation) is that most application forms are conditional approval rather than full approval. With many challenges that still need to be overcome providers have some way to go before consumers embrace a fully online end-to-end service from mortgage research, to application, to approval. Totally ‘replacing’ human interaction is not currently realistic. New design patterns are emerging that look at supporting the decision-making process and providing that human-interaction in an online context, but more on that in my next blog…

(1) Global Reviews Fruition Motor Insurance IE October 2017 N=201
(2) Nar Real estate in a Digital Age 2017 Report
(3) Global Reviews Home Loans Application Form AUS March 2017 N=103

Download our free report and view our recent mortgages webinar for more insights into industry trends and how consumers are interacting with provider websites.

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Are we amazed enough by AI?

With the world already waking up to what AI has in store for technology moving forward, the citizenship of Sophia along with her gracing the Jimmy Fallon show has only made our eyes open slightly wider in amazement. Is there anything that technology can’t do?

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The Meme Collider?

human interaction vs self service

In 2012, 174 meters below the Franco/Swiss border in a circular tunnel stretching 27 kilometres, the Higgs boson was discovered, through particle collision. It is through the observation of the by-products of these collisions that scientists and researchers are growing our understanding of the universe.

Can we apply the premise of collision to commercial business models; and through observing the by-product, understand the drivers of social and commercial evolution? May we be able to gain a greater understanding of what CX and customer expectation will look like 5 or even 10 years from now?

If we take, for example, Schiphol airport in the Netherlands who provide parking spots and collided it with the business model of a car rental company who invests in car fleets to rent out, what might we observe? Would we discover a company like ParkFlyRent who pairs departing passengers with those who wish to leave their car at the airport for long periods with inbound passengers looking for a car to rent? The pair never meet but trust is established.

Consider the shape of the ‘peer to peer’ model against this ‘peer to business to peer’ model. What is the role of the business? Is it to provide convenience, to provide a marketplace, or something else?

The ability to throw two markets together and turn them into one without affecting people’s access to mobility is surely the premise upon which market places exist.

Convenience is not key. While it may remove friction in terms of customer experience, it may also remove the customer experience altogether i.e. trust, relationships – the human element.

We are moving towards a world where marketplaces are becoming the dominant place for economic transactions. In the past the marketplace may have been defined as ‘an arena of commercial dealings’. Today these new market places facilitate micro-entrepreneurship that only thrive on positive feedback.

Let’s be contentious, let’s say that insurance companies don’t reward their customers with fair play and caution. When the insurance industry collides with a community based model like a social network, what would we observe?  German Insurance broker Friendsurance.de provide a group based claims cash back bonus structure. They group people online who have a similar insurance policy and if no claims are submitted, the members of the group get a cash bonus at the end of the year. For two consecutive years more than 80% of the consumers who took advantage of the claims free bonus received a proportion of their premiums back. Both the insurance companies and the customers can win.

I suggest that all of these examples come from a quickly growing meme which is the consumer viewpoint of what brands are describing as digital disruption: the collaborate consumption economy. Rachel Botsman, in her TED talk, discusses the fundamentals behind the concept of the collaborative economy and predicts that it will evolve every commercial industry that we know today. In the collaborative economy, trust and relevance are the key drivers and what digital has brought to the table is the ability to build trust without having to meet someone.

It is interesting to note that the definition of a community is “the condition of sharing or having certain attitudes and interests in common”.

Is this collaborate-economy an evolution or a revolution of the marketplace? Is the secret to meeting its challenge to reconsider the linear, consumer to business based model and look to the cluster based community model?

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

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: 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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Simple tips for current account providers to convert more customers 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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