11 July 2011
What's the report all about?
In this, the latest communications report compiled and produced by Precedent, we assess how financial service companies in the UK are leveraging the broader web to engage with their customers online and whether they are beginning to embrace the opportunities that mobile platforms provide.
The conversation about their services and products (and therefore their reputation) is increasingly being conducted away from their websites, in the social media space. The question is, how well are they engaging in those conversations? How well are they using them to enhance their reputation, and ultimately drive business to their websites?
Similarly we wanted to look at how well their websites cater to the needs of the man on the street – are the features and services that they are likely to expect available and easy to use?
Which organisations did we look at?
We wanted to look at a broad range of companies offering a selection of products and services in the following categories:
• Building societies
• Asset management
• Insurers, life and pensions
• Online only financial services firms
In order to select companies we took a random sample of 10 from the most well-known high street brands in each category. Despite some of them being less well-known, we felt it was important to include companies that are providing a product, or service, purely online in a distinct category, since we anticipate that these will be the most innovative online and potentially provide the best practice and benchmarks to which the others might aspire.
What were we looking for?
Our assessment was mostly quantitative running across digital channels including web, blogs, social, mobile and video/audio. A key question will be the degree of integration across these channels, and therefore the cohesion of the user-journey. Where appropriate we identified and featured examples of best and worse practice.
Broad themes discovered whether channels are being used appropriately to deliver thought leadership and insight, customer services, marketing and campaigning (in promotion of products and services) and transactional services.
What did we find?
We identified which categories of financial service companies in the UK are making the most use of the contemporary digital landscape, along with examples of best practice that all may learn from.