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Building Better Service SitesTim van TongerenAnalystForrester Research
November 16, 2007
3Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Agenda
• Why does the online customer service experience matter?
• What are the hallmarks of great online service experiences?
• How can firms create differentiating online experiences?
4Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Agenda
• Why does the online customer service experience matter?
• What are the hallmarks of great online service experiences?
• How can firms create differentiating online experiences?
5Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Online banking adoption continues to grow
Base: European consumers
0
20
40
60
80
100
120
2005 2006 2007 2008 2009 2010 2011 2012
MillionsSEESNLITFRUKDE
Year
6Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Europeans increasingly rely on the Web for insurance-related queries
23%
32%
33%
36%
48%
35%
File an insurance claim
Renew an existing insurance policy
Check the progress of a claim
Ask a query about your policy
Change personal details with an insurer
Seek new insurance policy quotation
Base: European online consumers who own at least one insurance policy
Source: European Technographics® Q4 2006 Finance Survey
“The next time you do each of the following,how likely would you be to do it online?”
7Entire contents © 2007 Forrester Research, Inc. All rights reserved.
European banks give customers sub-par online service experiences
Source: Forrester’s 2007 European Bank Secure Web Site Ranking. Provisional scores
Belowminimum standards
Meets or exceedsminimum standards
39
43
45
50
52
55
58
63
46
0 25 50 75 100
Deutsche Postbank
Crédit Agricole
BBVA
Deutsche Bank
Caixa Geral de Depósitos
Rabobank
Postbank
Lloyds TSB
first direct
8Entire contents © 2007 Forrester Research, Inc. All rights reserved.
The impact of online banking drives future purchase intent
0.212
0.163
0.148
0.126
0.117
0.111
Customer advocacy
Branch satisfaction
Impact of online banking
Cross-channel satisfaction
One-stop shopping interest
Importance of one point of contact acrossproducts
Strength of correlation to future purchase intent
Source: Forrester’s Consumer Technographics December 2004 North American Study
9Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Online bankers are attractive customers
Age
High income
Household assets
Bought a financial product online in the past 12 months
Yes
“Do you bank online?”
39
45%
€93,200
23%
47
22%
€85,700
2%
No
41% 20%High education
Base: European consumers
Source: European Technographics Benchmark Survey, Q2 2007
10Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Summary
Firms are missing an opportunity to drive more sales through the secure
site
11Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Agenda
• Why does the online customer service experience matter?
• What are the hallmarks of great online service experiences?
• How to create differentiating online experiences?
12Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Online experiences have three attributes
Usable
Desirable
Useful
13Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Online experiences have three attributes
Useful
14Entire contents © 2007 Forrester Research, Inc. All rights reserved.
- Deutsche Postbank slowly responds to customer queries
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+ first direct makes it easy for customers to get answers to their queries
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- Postbank sends logged-in applicants back to the public site
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+ Lloyds TSB nicely integrates the loan application process into the secure site
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+ OP Bank blends the public and secure Web site
Product informationAccount
information
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Useful: offer value to customers
• Provide a robust set of self-service options
• Make it easy to contact the firm
• Blend public site content and functionality
20Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Online experiences have three attributes
Usable
Useful
- Presentation- Navigation
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- Jargon and overlapping category names make it hard to find services
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+ With clear menu names and great task flow, Deutsche Bank steers users effectively to a new task
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- Crédit Agricole frustrates customers with bad presentation
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- UBS layers – but doesn’t integrate – related functions like statements, payments, and transaction overviews
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+ Deutsche Postbank sets a high standard for integrating related functions
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Usable: provide easy access to value
• Get customers where they need to go to efficiently
• Make content and navigation easy to scan and consume
• Integrate related functions and services
27Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Online experiences have three attributes
Usable
Desirable
Useful
28Entire contents © 2007 Forrester Research, Inc. All rights reserved.
+ BBVA offers a basic summary of a customer’s financial situation
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+ E*TRADE exceeds investors’ needs
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+ ABN AMRO customers can design the welcome page themselves
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+ Caixadirecta makes online banking more personal
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+ Finland’s OP Bank is piloting video calling to bridge the Internet-branch gap
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Desirable: Exceed customers’ basic needs
• Guide and advise customers around their financial situation
• Personalize the experience
• Integrate human elements into the digital environment
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What are the hallmarks of great online service experiences?
Usable
Desirable
UsefulOffer value to customers
Provide easy access to value
Exceedcustomers’ basic
needs
36Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Agenda
• Why does the online customer service experience matter?
• What are the hallmarks of great online service experiences?
• How can firms create differentiating online experiences?
37Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Treatcustomer
experience asa competence
Obsess about customer
needs
Reinforce brands
with every interaction
Experience-Based
Differentiation
Principles of Experience-Based Differentiation
38Entire contents © 2007 Forrester Research, Inc. All rights reserved.
How can firms create differentiating online experiences?
• Get better customer insight – and use it
• Review the experience continuously
• Integrate desirability into key design decisions
• Align organizations to deliver great customer experiences
39Entire contents © 2007 Forrester Research, Inc. All rights reserved.
Tim van Tongeren
+31 20.305.4346
TvanTongeren@forrester.com
www.forrester.com
Thank you
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