UK Retail Banking Corona Insights Week End 12 Jun 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: Those in Need – Deliver for All – Create Outdoor Atmosphere

Communicate to those that need it the most

Whilst overall banks are seen to be doing enough to help people, there are some clear differences between distinct groups in our society.  People living alone or with friends, and those that are employers, job seekers and self-employed are less likely to feel that banks are doing enough to help them.  Communicate to those most in need of support.

Deliver for all

At a time when the eyes of the world are on the racial inequalities that exist, banks should do their bit to make sure they deliver for all, through products, services and communications.  This week we have taken a year’s worth of data to see the difference in response to advertising from Black and Asian people versus White people. 

Barclays stands out.  Not only does Barclays have a higher share of advertising experiences amongst Black and Asian (17%) versus White (14%), the quality of these experiences are best in class.  73% are very or fairly positive and 70% are fairly or very relevant.  In contrast, Lloyds is under-represented and experiences are less positive (60%) and relevant (56%).  Re-look at how your experiences are landing with different groups.

Create the outdoor atmosphere

People are starting to have more outdoor experiences, such as branch, ATM and poster. 23% of people reported these welcome experiences this week versus a low of 7%, six weeks ago. 

What’s more, these experiences are creating positive buzz, with 20% of people reporting a conversation this week, the highest we have seen in recent weeks. A friend was telling me of her positive experience at a local branch, made me feel safe being their customer too.” Nationwide.  Welcome customers back to the high street and deliver experiences that will be talked about.

In summary

  • Support those most in need
  • Re-look at how your experiences are landing with all ethnic and diverse groups
  • Welcome people back to the high street

Download slides here

UK Retail Bank Corona blog slide we 12 jun 2020 vs1.1

Mark Thompson, Experience Director & Kaat Defreyne, Senior Experience Executive

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