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: Live up to Standards – Future Focus – Boost Online Services
Live up to standards set – avoid negative news
There has been a significant fall in those Very or Fairly Concerned about the pandemic in the last 7 weeks (73%) versus the first 7 (80%). Banks have responded well, setting a high standard. However, this means that negative news, such as the Lloyds £64M fine for unfair treatment of mortgage customers, hits home hard. Consumer comments from this study suggests that it’s more important than ever to live up to your promises.
Look to the future with a light-hearted tone
In the last 5 weeks we have seen people’s response to paid advertising becoming less positive and the ads are less relevant. Excessively emotional messages are not landing well anymore, nor are ads that are seen as being too generic. “Bit annoyed with these ‘heartfelt’ ads.”
Ads that are future focussed and tackle wider themes, like community and mental health are appreciated. “An advert for TSB detailing the work that the Bank do for the good of the local community. Quite satisfied and happy that other, similar banks exist that are operating ethically.” TSB | TV | Very Positive | Much more likely to choose | Very Relevant. “A message about people getting back to work after the pandemic and the help Barclays can give you. Pleased it shows some people are caring about others.” Barclays | TV | Fairly Positive| No Difference | Fairly Relevant
Boost your online services
There is an increase in online banking usage in the last 5 weeks versus the first 5 weeks of the pandemic. 34% of people report an online banking experience each week v 29% in March/April. ATM usage remains at 6% suggesting a long-term reduction in cash usage. Whilst smooth and easy processes are a must online, customers are wanting greater functionality. “Barclays are a poor example. No ability to pay in cheques via external machines. Banking app doesn't apply to 2 signatory accounts.”
In summary
- Live up to your promises
- Create future-focused messaging
- Boost online service functionality
Contributor:
Mark Thompson, Experience Director & Kaat Defreyne, Senior Experience Executive