It was revealed in our recent banking and finance webinar that of the 22 brands we assessed, no one brand is currently offering a consistently strong customer experience along the digital sales journey and only four brands were doing anything to assist prospective customers when they return to the website for further product research.
The benchmark research involving a real-time audit conducted by 510 in-market consumers, exposed just how well brands are performing throughout the key stages of the customers’ online sales journey.
The result? Not great.
On average, the benchmark scores across Australia mortgages (mobile) and UK investments (desktop) are quite low, with Australia savings accounts (desktop) performing slightly better…
Average customer journey benchmark scores
Can the banking and finance industry improve on these averages?
Data and insights from the research shows that simple improvements could make a big difference to returning users and current customers.
Savings & investments are complex products – don’t make users do the research over and over again….
Customers who have gone through the effort to view and research products are already a fair way down the purchase funnel and are entering the ‘win over’ stage, so it is important at this point to make things as easy as possible for them. This can be achieved by helping to facilitate a visitor’s previous journey on return by making it easier to access previously viewed information and presenting tailored content using the following techniques:
- Allow customers to save favourite pages/investments/accounts to a list they can come straight back to next time and let them access that list quickly and easily from each page of the site.
- Recognise and reward previous visits actively – “last visited pages….” , “other interesting pages…”.
- Ask users if they are existing customers and facilitate a speedier application if so. Then let them login to continue application and encourage them to do so.
- Allow online retrieval of application status.
And of course, keep abreast of other industries who are leading the way in personalisation and relevancy.
For more in-depth analysis and our best practice examples, view the full webinar.
Contact us for more information on our Digital Sales Effectiveness programme and to find out how your website rates.