How to improve conversion on Motor Insurance websites (webinar 14 July)

Motor Insurance infographicGlobal Reviews is delighted to announce a webinar on Friday 14 Julyth at 10am BST utilising data from our recent Fruition study of the Irish Motor Insurance industry.

Join our webinar and find out:

– If you’re one of the brands losing over 75% of potential clients
– How your competitors are scoring
– What you can do to win clients
– How you can convince users that you have good online member services

Motor Insurance headerGlobal 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 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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Saving energy clients: 7 Tips for conversion optimisation

Saving energy has been promoted by government campaigns, environmental organisations and energy providers alike. Saving energy and saving expenses make sense to consumers. With more and more energy companies to choose from, consumers are now shopping around for what deals and offers fit their needs best – which is currently the main reason for Irish and British consumers for selecting a provider, our study shows. However, energy sites in Ireland and Britain are losing 69% customers on average by failing to offer a product that suits users’ needs and communicate quickly and easily that they are trustworthy.

In a study of 190 in-market consumers that are looking for a new energy provider, we discovered that there’s a lot of room for improvement for energy websites to win customers. In Ireland, the most popular companies (Electric Ireland and Energia) still lose 51% of consumers, who had them shortlisted as their initial preference (before comparing websites and offers), but chose another brand as their final preference. In Britain, E.ON Energy is most popular, with a loss of 56%. PrePay Power is losing the most prospect clients in Ireland: 74%, while in Britain, SSE has the most lost opportunities at 86%.

The question is: why do prospects who initially preferred one brand, end up choosing another?

Energy lost opp

To understand consumer’s choices, we used our conversion optimisation study Fruition. Firstly, we learned about the journey that those who are looking for a new energy provider undertake:

  • 95% start their journey with a search engine
  • 44% move direct from search engine to a brand website. 71% use aggregators (comparison websites)
  • 75% have an initial preference before researching
  • 44% picked “best offer/price for my needs” as influence on final decision.

We can see a shift from initial preference to final preference when it comes to the importance of price, however loyalty (or laziness?) remains important, indicating that retention opportunities need to be capitalised. Trust, reputation and familiarity still play an important role in final decision making (as per initial preference). Brands need to communicate that they can be trusted, demonstrate that they are reputable and facilitate returning customers.

The top 10 motivators for final preference of a particular energy brand:

  • They have the best deals/offers for my needs (37%)
  • I am a current customer (37%)
  • I trust this company (29%)
  • I have used them before (27%)
  • They are a reputable brand (26%)
  • Their plans were easy to understand (23%)
  • They offer the greatest discount off the unit rate (22%)
  • They had the best household energy plan for my needs (21%)
  • The website is easy to understand and use (16%)
  • The website made it easy to find information about rates and charges (16%)

Top tips to drive conversions on energy websites
We have gathered 7 best practice examples for you from various studies we’ve conducted internationally, that all showcase the most important website features to drive conversions according to our latest study of Irish and British Energy consumers.

1. Cater to existing customers from the start
Speak to needs & cater to different audiences. Electric Ireland has top scores for “Looks like a site that caters for me”
ElectricIreland
2. Offer clear pathways to various tasks and information
Electric Ireland has top scores for “Offering a clear starting point for information I would expect to find about energy plans available” & “Website displays all the information I expect to see.”

3. Offer a direct link to view energy rates & compare plans
Needs based content helps prospects identify where to find information they are looking for (Compare rates, energy saving, help & support etc.)

4. Focus on customer support
Show customers that you have a helpful support system. List the most popular FAQs & links to more, so that visitors can ‘self-serve’ – right from the home page in one click, like Energia does.

Energia1

5. Use easy to scan icons
icons
6. Help users understand the differences
“May suit you” helps to give users a guide to what might appeal to them. ANZ, an Australian bank, gives prospects practical bullet points, offering a quick overview of the product, making it quick and easy to see the differences between the products they offer.

May Suit

7. Show off your awards
Awards are a great trust builder. Eon, Britain’s top performer in our study, won Large Supplier of the Year 2017 in the uSwitch Energy Awards and mentions on their homepage that they were voted best of the large suppliers for customer satisfaction for the fifth year running.

Eon1

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 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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28% of consumers are unable to find the product range on mortgage websites

In June 2016 Global Reviews observed and measured 400 consumers as they sought after a new mortgage provider online and found that 28% of consumers are unable to find the product range on mortgage websites.

The ability to quickly and easily locate and compare product options is an obvious top need for consumers when researching products online. This is no exception for those looking for a new mortgage provider so it’s a concern when so many consumers are struggling to complete what should be a simple task.

Consumers on the ING Direct website had the highest effectiveness rate with 81% for navigating from the homepage to an area dedicated to showing the product range. They were closely followed by CBA with 80% and Heritage Bank with 78%.

Success rate for locating product range

Given their high success rate, it is not surprising that consumers on the ING Direct website had a much higher level of satisfaction in completing the task with a score of 86%, against the industry average of 75%.

Whilst having a direct and clear navigational path from the homepage to the product page is vital, it is equally important to deliver on content once consumers arrive on the page. This includes adequately detailed information, product comparisons and tools to assist the consumer in finding the best product to suit their needs.

Comparing product options

On average, consumers rated the comparison capabilities of mortgage providers at 75%. The ease of comparison was rated at 71% whilst the interactive elements within the comparison tools only averaged a best practice score of 40%.

NAB was the worst performer with a score of just 44% for how easy it is to compare options. Meanwhile, St George and CBA lead the industry with scores of 81% and 80% respectively ahead of an industry average of 71%.

Ease of comparison

Some of the key features the top performers include on their comparison page that help to boost their scores are:

  • Detailed information including whether or not an offset account is available for the product.
  • Information as to whether redraw facilities are available.
  • Displays definitions of industry specific jargon or displays a link to a glossary
  • Ability to compare all accounts in a single location
  • Displays interest rate information for each account
  • Ability to print the comparison table

Minimal tools for matching products to needs

To find the product that best suits their needs, consumers could read about each product individually or look at a comparison table, however, these methods do tend to rely on a certain level of understanding of how the product works. Something that especially those new to the market would have difficulties in doing successfully.

The solution? A needs matching tool.

Five of the eight brands assessed in this study do not offer such a tool and therefore rely on a certain level of knowledge and understanding from the consumer. A risky move given 17% of consumers said they would leave the site and go elsewhere if they faced difficulties on a site.

The three companies within the industry that do use a tool to assist consumers in deciding which mortgage account is right for them are CUA, ING Direct and NAB. By including a tool to assist in needs matching, these brands scored well ahead of the industry average of 36%. CUA scored 67%, ING Direct scored 62% and NAB scored 50%.

Needs matching content scores

A needs matching tool doesn’t have to be extravagant. The use of guiding questions is a simple way of leading consumers towards a product most relevant to their needs. Obviously the more interactive elements and detail the tool includes, the more confident consumers will be in knowing that they have selected the right product to meet their needs. Given how few brands are offering such a tool, even the basics will deliver a better online experience than having no tool at all.

Taking out a mortgage can be a daunting enough task without the added stress of trying to navigate and understand details on a brand’s website. By providing the right information in an easily digestible format, brands can help consumers feel more confident in their decision and therefore instill a stronger sense of trust in the brand.

Mortgages report 2016

 

For more tips on how to improve the online customer experience, download our FREE report.

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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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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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Blog Series: The first critical stage for an effective mobile sports betting site – Initial Engagement

Mobile Sports Betting

While the online sports betting sector is ahead of the game in being “mobile first”, a recent study by Global Reviews on the Mobile Sales Effectiveness in the sector found that top brands are losing target customers due to not fully aligning the mobile and desktop experience at certain points of the customer journey. In fact, almost a third of mobile bettors would leave the site if they encountered a problem.

mobile

Our Mobile Sales Effectiveness research, conducted in April 2016, put a sample of 450 “in market” bettors on the mobile websites of 16 different sports betting websites across Ireland, UK and Australia. The study highlighted that there are three critical stages along the mobile customer journey that need focus in order to decrease the level of lost opportunity that sports brands suffer from.

The three stages are:

  1. Initial Engagement
  2. Introducing Options
  3. Application i.e. Adding a Bet

In part one of this blog series, we look at the first critical stage, “Initial Engagement”.

What is Initial Engagement? 

Initial Engagement incorporates a number of factors relating to a bettor’s initial impression of the homepage including:

  • Communicating a clear value proposition in consumer-focused language
  • Building trust
  • Enhancing security and privacy features
  • Accommodates returning visits

 

Australian brand Sportsbet scored highest in our mobile study for “Initial Engagement”. The homepage on Sportsbet’s mobile site has mobile-optimised functions, security, convenient log-in and clear payment information.

Sportsbet

Best Practice for winning Initial Engagement 

Initial impression of the homepage:

  • Visually appealing design
  • Streamlined design – uncluttered, use of similarity and separation
  • Easy to navigate site
  • Create affinity with the target audience through colour, imagery and font

Communicating a clear value proposition in consumer centric language

  • Consider different messaging for homepage and product details page
  • Create a competitive advantage by going beyond just discounts and deals

Communicating security and privacy

  • Ensure access to supporting information
  • Use imagery to communicate privacy
  • Provide tips and assistance on how to protect your computer from security breaches and threats

Communicating trust

  • Transparency on pricing and quick access to key actions is important
  • Include testimonials, third party endorsements and a commitment to customers

 

Part two of this blog series will look at the second critical stage for an effective mobile betting site, Introducing Options. 

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

Download the full Mobile Sports Betting report here 

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Top three tips for winning more of your ideal personal loan customers

A recent Global Reviews Digital Sales Effectiveness study (April 2016) revealed that financial services websites in the UK are not doing enough to help customers find the personal loan that is right for them. Simply put, the UK banking industry is failing to help customers match products to their specific needs online by not providing enough general information.

When we look at the top and bottom performers throughout the customer journey, it is apparent that no one brand is leading the market across all stages.

Loans Top Performers

We asked ‘in-market’ customers, i.e. those who are actively in the market for a new personal loan, to spend some time on the homepage of some of the leading banking brands in the UK, absorbing and actively looking for their desired information on personal loans. Voice of the customer feedback was captured and it is very apparent that customers found many of the homepages difficult to navigate, overloaded with information and interestingly, personal loans information was difficult to find.

VOC

So, what can financial service providers do to help their ideal customers find the correct information on the personal loan, effectively and with relative efficiency and ease? The following ‘Best Practice’ examples provide some insight:

Halifax – Addresses different needs on the homepage 

Halifax

Citigroup helps users understand the difference between overdrafts and loans 

citi

CBA includes a summary of each loan with key features and benefits 

CBA

Recommendations: 

  • Consider guided choice methods to help customers find the personal loan that is right for them.
  • Include links to ‘more information’ and ‘apply now’ for customers at different stages of the funnel.
  • Remember WHY customers are on the personal loans page, think like a customer and answer the big questions.
    • Why pick a personal loan?
    • Why choose a loan over an overdraft or a mortgage extension?
    • Which is more cost effective?

Global Reviews excels at solving the critical problems digital leaders face in customer acquisition.

  • WHY are we losing potential online customers who are actively considering buying from us (taking out a quote and shortlisting us) but then buy from another company?
  • WHAT can we learn from other companies around the world that will enable us to stop losing customers that we should and could be winning?
  • HOW do we independently validate, in such a fast-moving and disruptive digital environment, that the development decisions we are making are the right ones?

To find out how we can help you, please contact us. 

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How to convert more of the online casino customers that you could and should be winning!

How do you convert more casino customers online? Let Global Reviews help! We are delighted to announce the launch of our new online casino programme across the UK, starting in July 2016. Already trusted by top sports betting brands such as William Hill, Coral, Paddy Power and Betsson Group, Global Reviews’ latest robust and advanced analytics programme will help solve the critical problems that Digital Leaders in online gaming face regarding customer acquisition:

  • WHY are we losing potential online customers who are actively considering gaming with us (registering an account and claiming the bonus) but choose to game with another company?
  • WHAT actions can we take (based on learnings from companies around the world) that will enable us to win more of the customers that we are currently leaking.
  • HOW do we independently validate, in such a fast-moving and disruptive environment, that the development decisions we are making are the right ones?

This first ever cross-market study will audit the UK online casino market and their comparative performance at meeting / exceeding the needs of UK customers who are in-market to open up an online gaming account and start playing online. Our new programme will ultimately help casino providers win more of their ideal customers online.

How did our new online casino programme come about?

Extensive internal research and feedback from our current sportsbook clients that have casino interests indicated that many of the online casino sites are unnecessarily losing large numbers of customers that they spend huge monies attracting. The main cause is not that the sign up process is difficult but casino providers are not differentiating themselves well enough. Global Reviews will now be in a position from July 2016 to help online casinos provide their online customer with the same online experience that they currently enjoy in their daily lives from other online providers. Casino companies will, for the first time, gain definitive evidence as to why they are leaking more customers to their competitors than they should be.

To find out more about our new Online Casino Programme 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

Or find out more about our Digital Sales Effectiveness programmes here 

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Infographic: What prospective students think of Australian University & higher learning websites

Infographic: What prospective students think of Australian University & higher learning websites

Every 6 months Global Reviews measures the Digital Effectiveness of Australian University Websites, from the view of a prospective student.

This infographic shows you how well some of the various Australian higher learning institutions are performing, in terms of Customer Satisfaction and Effort. We also look at the stages of the Digital Journey and where Universities could be compromising their chance of gaining prospective students.

Digital Experience of Australian University & Education Websites

Visit our reports library to purchase the Tertiary prospective student digital experience report, or contact us to find out more about this study.

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The inconsistency of financial services in the digital space

Digital Sales Effectiveness benchmark research conducted across credit cards, home loans, personal loans, savings accounts and transactions accounts reveals how differently financial service providers handle and present each of the products they offer. The benchmark follows the customers’ journey, across key brands in the financial services sector, from their initial engagement with the website, when they are locating and considering the products, through to completing the application form.

Within the typical customer journey there is the consideration phase which is made up of four stages, followed by the action phase, made up of two stages:

  • Initial Engagement – where a prospective customer is introduced to the website
  • Introducing Options – process of locating the product options
  • Evaluating Options – considering and comparing the products on offer
  • Facilitating Decisions – making a final selection on which product to choose

  • Channel Selection – choosing how and where to apply for the product
  • Application Form – process of applying for the product online

In looking at the consideration phase across each of the financial services products, home loans was the worst performing product in the first three stages, but came through as the best performer in the fourth stage. In contrast, personal loans was the lead performer with initial engagement and introduction to the products, but then takes a steep dive to end the consideration phase below all of the other products. Whilst this is the industry view across the products, each of the brands captured within the benchmark hold their own individual strengths and weaknesses.

financial services customer journey

It is clear from the above graph where the focus tends to lie within financial service websites. Homepages are largely driven towards the promotion of credit cards, savings accounts and personal loans. The more complex product, home loans, is not promoted quite as enthusiastically. It’s not until consumers get into the nitty gritty of the home loan details do they begin to see a better experience than when they’re at the same stage of research for credit cards, savings/transactions accounts and personal loans.

Given that on average across the financial services industry, 15% of customers would leave a website if they encountered a problem, this leads to the possibility of a lot of bouncing between brands in order to not only find the best product offer, but also a positive website experience, which incidentally is one of the top reasons for shortlisting a brand in their decision making.

Considering many brands within the financial services industry offer two or more of these key products, there’s a lot that they can learn by assessing the highs and lows of each products’ customer experience journey and in turn lessen the risk of losing out to competitors.

Want more information?

Download our latest home loans report for a closer look at why this particular banking product falls short

Register your details to ensure your brand is captured in this month’s wave of research

View our webinar to see the good, the bad and the opportunities for the financial services industry

Research completed by Global Reviews in November 2014. © 2014 Global Reviews

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