We aim to help marketers offer the best customer experience they can and continue to build their brand equity during this time of crisis. Key trends this week: People are looking for a good level of service and availability
Our UK Retail Banking Dashboard provides a weekly snapshot of trends that you can interrogate. We invite you to click on the link below and take a look around the data. The link will give you direct access to the dashboard, no log-ins are required but please use Google Chrome and access via a laptop. One feature to highlight is the ability to click on data points to view the underlying comments for the experiences, so if response to advertising is positive, you can click to see what people are saying about it.
People are looking for a good level of service and availability
This week continues to highlight the need for owned channel interaction, with owned touchpoints accounting for 59% of all banking experiences (up from a benchmark of 54% in Feb-Mar). Concern for the pandemic is still high at 71% (very or fairly concerned) but there is an overall downward trend and 65% of people feel their household finances are unaffected by the pandemic with 10% feeling better off.
People are looking for a good level of service and availability in-branch as well as efficiency from online banking or app usage. Nationwide has best in class experiences for engagement, due to delivering positive in-branch experiences and being simple and easy to use at home. “Had to transfer money from one account to another bank. Accomplished. Was easy and quick.” Nationwide | App from bank | Very Positive | No difference. “Just went in to withdraw some money IT WAS VERY QUICK AND EASY. Relaxed GOOD SAFETY PRECAUTIONS IN PLACE”. Nationwide | Branch | Very Positive | No difference
Advertising reach is still low at 28% (versus benchmark of 32% and high during pandemic of 54%). However, Lloyds ad reach has increased this week with the new Maureen and Giles ads, in addition to the “Black horses” (which suffer from a bit of wear-out but do communicate a sense of trust.) While the Maureen and Giles ads are not to everyone’s liking, they do demonstrate that Lloyds is helping more people to bank online. “Giles Brandeth and Maureen Lipman talking about how easy it is to bank online. Okay.” Lloyds | TV | Fairly Positive | No difference
In summary
- Owned channel interactions account for 59% and are important.
- Nationwide’s service through branch and app is performing well.
- Advertising reach is still low, but we see the new Lloyds Giles and Maureen advertising providing help to bank online.
Contributor:
Mark Thompson, Experience Director & Kaat Defreyne, Senior Experience Executive