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TEN WAYS TO IMPROVE THE ONLINE EXPERIENCE
• Chair: Johan Hogsander
Deputy Managing Director
Transform
• Presenter: Simon Kirby
Associate
Transform
Please Note:
• You can submit questions during the webinar using the panel on the right hand side of your screen
• This webinar is being recorded
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Our research
• Digitally Mutual – research into the online capabilities of the UK’s building societies
• Tested 22 factors that drive customer experience online
• Ranked all 52 building societies
• Press coverage in various publications including FT Adviser, FS Tech and Finextra
DIGITAL MATURITY BENCHMARK
PRESENTING INFORMATION
ONLINE SALES
ONLINE SERVICE
CHANNEL INTEGRATION
DIGITAL INNOVATION
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Principle 1: QUEUEING OUT OF THE DOOR
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Principle 1: QUEUEING OUT OF THE DOOR
• The purpose of an online transaction form is to make it easy to buy
• It’s not a general data capture mechanism nor a communication device
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Principle 1: Make it VERY easy to buy
Source: Transform analysis
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Scottish Friendly
Sheffield Mutual Police Mutual Teachers Assurance
Foresters Friendly
Wesleyan Assurance
Shepherds Friendly
Virgin Money MetFriendly
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Questions Clicks
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Principle 2: WHAT’S IN AND WHAT’S OUT?
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Principle 2: Eliminate non-essential form questions
• Form completion declines with each additional question asked
• As a rule of thumb, we suggest a design rule in which every question is given a cost in terms of % of lost conversion
• Some types of form control are more prone to drop-out than others
Source: Hubspot
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Principle 3: THE NATURE OF LAZINESS
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Principle 3: THE NATURE OF LAZINESS
• Online users are ruthlessly efficient in the way they use sites
• Hard to find information is one of the biggest causes of drop-out
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Principle 3: Don’t make users work harder than they have to
• Common pain points include: – National Insurance numbers
– Membership numbers
• Either design these out or use manual follow-ups
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Principle 3: Don’t make users work harder than they have to
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Principle 4: DO YOU WANT A RELATIONSHIP?
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Principle 4: Don’t assume that users want a relationship
• We may want a relationship with customers but often customers just want to transact
• Online accounts trigger anxiety about privacy
• Some studies (eBay) suggest that removing the need for an account to buy increased conversion by 24%
• Best practice:
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Leave account registration until after the purchase for new customers
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Principle 5: EASY AS…
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Principle 5: Make login credentials easy
• Unless your service is very high touch, customers are unlikely to remember a customer number ID
• Put some security parameters into the password. Up to 40% of users may choose very weak passwords
• Consider two-factor authentication
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Principle 6: I’M USED TO GOOD DESIGN
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Principle 6: Conform to modern form design standards
• Web users’ expectations are set by their online experiences with Google, Amazon, Apple, etc.
• This engrains expectations of form design
• There are probably over 150 design and usability standards for good form design
• Use them!
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Principle 7: COMPLIANT AND UNIQUE
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Principle 7: Comply, but elegantly
• Over-intrusive T&Cs defeat compliance, commercial and customer goals
• The general principles of service design, usability and compliance are fundamentally the same – things should be clear, easy and highly usable for members/customers
• This requires the right relationship between business and compliance
Source: Transform analysis
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Principle 8: GO WHERE THE EYEBALLS ARE
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Principle 8: Use facial imagery
• Eye tracking studies have found that facial imagery can increase conversion by up to 95% and also perceived trust
Source: http://visualwebsiteoptimizer.com/split-testing-blog/human-landing-page-increase-conversion-rate/
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Principle 9: CLEAR COPY
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Principle 9: Text is the user interface
• Strive for simplicity
• Appropriate formality; retail financial services typically needs a ‘central’ position
• Clarity of description. Ensure menus “do what it says on the tin” rather than using, e.g. unclear product brand names ß Formality à
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Principle 10: TOES IN THE WATER
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Principle 10: Interaction makes users more likely to buy
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ANY QUESTIONS?
• Please submit any questions using the webinar control panel
• If you would like to discuss any of the content from today’s webinar please feel free to get in touch directly
Email: [email protected]
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