Banks need new ("oldie") tricks...
LLoyds screenshot, current accounts, May 23, 23

Banks need new ("oldie") tricks...

It is amazing the basics that are missed...

An ex-colleague reminded me of a basic advertising model a few weeks ago. It's the one that all Marketeers are trained early on, but that could be part of the problem...it gets put aside early, or thought of only at the time for their next exam.

Of course in advertising there is often a perfect world - there is usually a clear outcome that is being sought. maybe BUY THIS PRODUCT! Singular, clear, the desired outcome.

The challenge of the website

A website is a different matter. You don't know who is coming to it, they have different needs, interests, requirements. But you do know a lot, and they leave their marks in the analytics. In addition you (hopefully) know what you want to achieve, i.e. the outcomes that you want. This is key. It is why you're a bank (or other company)

Personas

Knowing the desired outcomes means that you can map your target typical customer types (personas) to the outcomes, give them the best routes via the web site. You can work on the workflows. You can ensure they're clean, and uncluttered. You can ensure they can find and discover what you want them to, in appropriate language. And provided with compelling information, allows them to come to an informed decision. And then immediately act on that decision.

But when you look at your Bank's journeys, do they really achieve this, or even head that direction?

AIDA

Applying AIDA is a basic to communication. A- Attention...I - Interest...D - Desire... A- Action, and its a great lens to apply to your key communications. Indeed to all communications. And your web site, and especially to the products and services you want a target customer to use your website for...

Lloyds certainly seems to show some issues at the moment. But by the time you read this maybe they'll have improved the site...

Try applying the lens yourself... it may be an "oldee" but it's a "goodie"


And here I certainly don't extend the model, as is often done...if you don't get the core right, you're just making it worse if you extend it


Want to explore? Let me know and we can help you workshop...

#banking #lloydsbankinggroup #marketing #communications #AIDA

Michael B.

Digital & Performance Marketing / eCommerce Director / Leader

1 年

Having being kicked out by IF after 24 years and told to go and find antoher current account so they can close all thier accounts I am shocked at how many financial sites don't cover off the points you raise - not one bank has an "Are you an affected IF.com customer"page - an easy win for current account business as we HAVE to move.

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