6 Core Self-Promotion Strategies (Lou's Labs Traning Webinar-Oct 18th)
Webinar - Scrutinising self-service
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Transcript of Webinar - Scrutinising self-service
WEBINAR - Presented by:
Mark Long & Karen Troubridge
Wednesday 16th September
12:30-13:00
The impact on branch experience
2
Share and debate channel behaviour insights, generated by our
Moments of Truth NPS Benchmarking programme 1.
Focus on self-service technology across retail branch networks 2.
Draw on findings from all 3 previous waves of the Benchmarking
programme 3.
Share some branded benchmarking data 4.
3
Used a mobile banking
app
Used online banking
for any reason
Changed personal
details
Opened a savings
account
Opened / switched a
current account
Applied for product /
service via OLB
L/S debit card
Opened or transferred
an NISA
Taken or renewed
b/c insurance
Visited a high
street branch
Fraud on current
account
Contacted by
telephone
Applied for a
mortgage
Closed a UPL
Contact about
existing mortgage
Closed or moved
a mortgage
Reported a
bereavement
Debit card trans
decline
Made a complaint
Applied for a UPL
Discussed repayment
difficulties
39m
adults
42m
adults
5.4m
adults
2.4m
adults So there are millions of contact occasions in any 12 month period, millions of opportunities to
get things right or wrong
4
0%
1%
4%
5%
9%
23%
57% Online via a PC, tablet or
phone
In branch, face to face
It varies based on the nature
of your specific needs
Over the telephone
Don’t have a single
preferred method
In branch, via self-
service machines
Post
Source: NPS Benchmarking Q3 2014
?
5
One of the most fundamental changes to the banking customer experience in recent years
has been the introduction of enhanced self-service technology in retail branch networks.
Convenience is created for
customers
The unit cost per branch servicing
transaction is reduced
Colleagues are released to spend more time selling more
profit-generating products and services to customers
£300 million anticipated spend
in next 5 years on upgrading
physical outlets
£450 million anticipated spend
into upgrading UK branches
6
16% 12% 7% 7%
40% 38% 37% 36%
Source: NPS Benchmarking Q1 2015
Most
active
providers
Somewhat
active
Not a priority
(at present)
29% 29% 26% 26% 24%
7
Thinking about your most recent branch visit to ..., were you encouraged by staff to use an
automated machine to complete the purpose of your visit?
Yes and I used the technology 17%
Yes but I chose not to use it 13%
No, was not offered self-service 66%
Can’t recall 4%
Source: NPS Benchmarking Q1 2015
43% Decline rate
12 Source: NPS Benchmarking Q1 2015
+12
+22
+33
+23
+28
+25
+44
+26
+19
+25
+24
+38
+32
Used
self
service
Offered
but not
used
Used
self
service
Offered
but not
used
+19
+24
+37
+25
-
+42
-1
+21
+40
+20
-
+29
+54
+29
-
-
-
-
-
+48
+18
-
-
-
-
-
Mo
st
acti
ve l
en
ders
S
om
ew
hat
acti
ve
No
t a p
rio
rity
(at
pre
sen
t)
So
me
wh
at
ac
tive
13
“ The automated machine made my
life easier. (Promoter, Low Customer Effort)
” Source: Verbatim comments from various NPS Benchmarking waves
14
I like the self service machines they have
in the banking hall so if there is a queue
at the counter you can usually carry out
the transaction at one of the machines. (Passive, Low Customer Effort)
“ ”
Source: Verbatim comments from various NPS Benchmarking waves
15
I don't like the way they try and force you
to use an automated machine when I
would rather deal with a person. (Detractor, Low Customer Effort)
“ ”
Source: Verbatim comments from various NPS Benchmarking waves
16
Because nothing compares to the simplicity
of taking necessary documents to the bank
and speaking normally to a person face-to-
face as it’s supposed to be. Machines and
technology can never simplify these tasks
as they are designed to complicate and they
do complicate matters as well. It’s time
consuming & frustrating. (Detractor, High Customer Effort)
“
” Source: Verbatim comments from various NPS Benchmarking waves
2
Almost 40 million people visited a high street branch in the last 12 months. In NPS
terms the experience is relatively positive at +26. 1.
Around 7 million consumers used a branch-based self-service solution in the last
12 months. 2.
Provider deployment of this technology is varied. Three provider segments emerge
in terms of the incidence of self-service solutions, ranging from around 40%
incidence (Barclays, HSBC, Halifax and NatWest) to just 7% (TSB, Co-op and
National Australia Group).
3.
Conversion rates also vary by brand. HSBC and Barclays achieve the highest
conversion rates. NatWest and Nationwide deliver lower conversion rates. 4.
There is a positive NPS impact where self-service is offered and used. Lloyds
Bank achieves the strongest uplift versus its average branch visit NPS score. The
situation is more variable for those where self-service is offered, but refused.
5.
19
Gender
Engagement levels are precisely the same for each gender
For all:
17% offered and used self service on their last branch visit
13% offered but declined
67% did not get offered self service
20
Age
Age is more discriminating. Self service acceptance and usage peaks in the 18-24 age bracket at 30%
and then declines across each subsequent age group:
18 - 24 30%
25 - 34 25%
35 - 44 20%
45 - 64 12%
65+ 12%
Previous reports available to purchase
Next wave launches this week
Reports at the end of October
THANK YOU for attending today
22
www.bdrc-continental.com
+44 (0) 20 7400 1016
+44 (0) 79 6645 4958
Mark Long Director
Follow us on:
www.linkedin.com
+44 (0) 20 7400 1006
Karen Troubridge Associate Director
+44 (0) 79 6126 9019