UK - Retail Banking Corona Insights Week End 1 May 2020

We aim to help marketers offer the best customer experience they can and continue to build their brand equity during this time of crisis.  This week's themes are: US vs. UK – Reassure and relate – Address frustrations of self-employed.

US vs. UK

US customers feel their bank isn’t doing as much to help its customers, compared with findings from the UK. To stay successful after the lockdown restriction ease, UK banks can learn from the US about the importance of providing safe face-to-face branch experiences.

Reassure and relate

The worry about the ongoing COVID-19 pandemic remains quite high. Campaign messaging that reassures, such as help paying bills is appreciated. Advertising styles that are relatable, such as Halifax and Barclays ads featuring real people, are still landing well and show no signs of wear out.

Directly address the frustrations of the self-employed

Whilst bank experiences have become more positive and persuasive for the full-time employed, they have plummeted for the self-employed, presenting a stark contrast. The self-employed are falling through the cracks neither getting the benefits of business banking nor the reassurance of personal banking.  The service issues are more acute for this audience so banks should aim to tailor service and communication to them.

Download slides here

Retal bank corona Fri blog slide we 1 may 2020 vs3

Fiona Blades, President & Chief Experience Officer, MESH Experience

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