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Viewing report
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Customer Experience in Branch: Building Best Practice Strategies
Datamonitor, Oct 2011
The branch channel remains critical to the multi-channel experience. Improving the experience will help to reinvigorate a channel that is clearly still important to a wide range of consumers. Optimizing the customer experience will also help to retain customers, increase cross-selling, and help to produce more satisfied customers overall.
Scope of the report:
- Optimize the branch customer experience by learning how consumers use this channel for researching and purchasing products.
- Tailor the functionality of branches through gaining an insight into the features that consumers view as essential to this channel.
- Boost customer retention and produce more satisfied customers by understanding what consumers want from their branches.
- Learn best practice in branch customer experience from a series of global case studies.
Highlights:
Use of the branch channel is high, with 77.4% of consumers globally having used this channel in the 12 months to June 2011. The most popular activities for consumers to conduct through the branch channel are ordering a new check book or new card, booking an appointment with an advisor, and depositing or withdrawing money.
For all but three products, the branch channel is used by more consumers to purchase a product than it is to research that same product. This reveals the branch channel's strength as a channel of opening for consumers.
A roughly equal proportion of consumers believe that self-service kiosks and the ability to meet an advisor without booking are essential features of the branch channel. This finding highlights that globally consumers place equal weighting on being able to conduct activities themselves in branch and having an advisor to assist them.
Reasons to buy:
- Does the branch channel still have a role in the banking experience?
- What do consumers view as the key characteristics of a bank branch?
- Which aspects of the branch customer experience need to change in order to create a more positive experience?
- What are the benefits of creating a positive branch experience for FS providers and their customers?
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