Seamless interactions between channels are paramount to buildinging loyalty, and the mobile experience sits at the heart of the matter. Banks large and small offer numerous ways for customers to interact with them: branch, phone, email, chat, Web, and mobile app. The key to success is to measure and take action based on how effortlessly your customers can interact, anytime, anywhere, from any device, and on how well they can seamlessly interact across all channels.
For most banks, the online channel is accountable for elegantly managing more interactions than all the other channels combined. It is the channel that customers interact with the most. Ease of use and ease of accomplishing tasks are the two main drivers that affect positive online experiences. Demand for best-in-class mobile experiences is at an all-time high with brands like Apple and Amazon setting the standard for providing the ideal mobile experience.
This self-service channel can positively influence satisfaction and therefore long-term loyalty. “If customers have more control, the reasonable assumption is that they are less likely to blame their bank for poor service," a 2012 banking experience study by Backbase said. This concern, according to a 2010 JD Power survey, is the most common reason that customers switch banks.
With so many transactions managed by the mobile channel, your brand is on the line every time someone logs into his or her account. Will they be able to log in, will they be able to transfer money, or pay their bills, or apply for a loan? These experiences must be painless and, above all, personalized.
[For more of our mobile coverage, check out: US Bank Launches Mobile App for Treasury Management.]
In order to achieve greater customer insights into mobile experiences, use a combination of customer sentiment and operational data. Designing a survey that captures relevant mobile centric constructs is the first step.
Surveying customers about how they think and feel about their mobile banking experience after an interaction is the second step. You’ll want to append this data with relevant operational and financial data, like average loan and account balance, to determine properly mobile app satisfaction by segment (high net worth, mass affluent, and mass market), to understand differences in experiences between affluence levels better.
The last step is providing this information to your business leads so they can make informed decisions to improve mobile app usage, ease of use, layout, innovative features, and functionality of the mobile app, which will in turn drive daily and long-term improvements in your mobile and omnichannel experience to satisfy and retain customers.
Below are a few illustrations of how these key concepts can be captured and reported. This type of data can then be shared with user experience (UX) designers to help make design improvements in simplicity and personalization.
How the data captured in the graphical illustrations comes together to tell a comprehensive story is most effective for designing improved functionality to deliver the ideal mobile banking experience. This is critical to the investment in the process, people, and the infrastructure needed to mitigate failure points in the customer experience.
Jennifer Beyer leads the Allegiance Best Practices team and focuses on cross-team collaboration, developing strategies to increase customer satisfaction, loyalty, and retention for Allegiance's customers. Jennifer created and ran one of the world's largest and most renowned ... View Full Bio