Mapa business banking-attractingandengagingnewandexistingcustomers-brochure

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Mapa business banking-attractingandengagingnewandexistingcustomers-brochure

  1. 1. Business banking: Attracting and engaging new and existing customers Insight report revealing a range of different approaches and opportunities including examples from leading retail banks worldwide. October 2013 – Page 1 © Mapa
  2. 2. Insight into standout examples – pointing a trends, innovation, differentiation and customer appealingness Objective: As part of setting the scope and emphasis for this report we pinpointed three key questions to ask as part of the research: a. What are banks doing to segment their offerings and make them more relevant and appealing to customers/prospects? b. What are banks doing to engage customers/prospects and by that draw them into the website? c. What types of services and features are banks offering in order try and differentiate themselves from their peers? Report structure: A. Executive Summary B. Introduction C. Countries and brands researched -------1. Site segmentation and sign-up 2. Digital banking services 3. Mobile / tablet merchant terminals 4. Business management tools 5. Conclusions Methodology: We have taken a detailed look at how and what retail banks focus on when working to attract and engage new and existing business banking customers. The report is divided into four distinct areas as outlined above (grey box) – all adding to the experience and perception of the brand. Findings in the report are based on market (public site only) and desk research including both quantitative, qualitative analysis as well as strategic commentary. This report is based on research of 45 leading retail banks across 13 countries. Out of these 19 banks are featured in the report. October 2013 – Page 2 © Mapa
  3. 3. A Executive Summary Objective This is our first business banking report in the Mapa Insight Series and which we will repeat on an annual basis. As part of setting the scope and emphasis for this report we pinpointed three key questions to ask as part of the research. a. What are banks doing to segment their offerings and make them more relevant and appealing to customers/prospects? b. What are banks doing to engage customers/prospects and by that draw them into the website? c. What types of services and features are banks offering in order try and differentiate themselves from their peers? Chapters covered The report is divided into four distinct areas as outlined below – all playing a part in attracting and engaging customers. Each section highlight different standout examples including analytical commentary, stats and additional insight from press releases etc. 1. Site segmentation and sign-up 2. Digital banking services 3. Mobile / tablet merchant terminals 4. Business management tools At the end we summarise the key points from the research. October 2013 – Page 3 Sample page from report A summary of research approach We have carried out… • Market and desk research • Quantitative and qualitative analysis • Strategic commentary ...all within a global context Key points / themes • Opportunity – several of the business banking sites come across as bland and lacking focus. Better section splits, focus on key customer segments, information prioritisation and mobile optimised content can improve things. • Pricing can become more transparent. In several cases it is hard to get to grips with what a banking relationship would cost annually • Focus on start-ups – this is the most common theme across the banks researched and feels as a central opportunity to banks. • Key areas of development – Following developments in the last 12 months circa 80% of the banks that we researched offer mobile banking services, and roughly a third promote / offer mobile / tablet merchant solutions. © Mapa
  4. 4. B Countries and brands researched Sample page from report Below is the list of brands that has been researched as part of this report project – in total 45 retail banks across 13 countries. Out of these 19 banks are featured in the report. On a couple of occasions we provide stats related to our own research – those numbers are based on researching the below mentioned banks. Australia ANZ Commonwealth Bank NAB St Georges Bank Westpac France BNP Paribas Credit Cooperative Société Générale Belgium BNP Paribas Fortis KBC Norway DNB SpareBank 1 UK Barclays HSBC Lloyds TSB NatWest Denmark Danske Bank Jyske Bank Nykredit Sydbank Netherlands ABN AMRO ING Rabobank Germany Commerzbank Deutsche Bank Postbank Sparkasse Spain Banco Sabdell Bankinter BBVA La Caixa October 2013 – Page 4 Canada BMO RBC Scotiabank New Zealand ASB BNZ Sweden Handelsbanken Nordea SEB Swedbank USA Bank of America BB&T Chase Citi Wells Fargo © Mapa
  5. 5. 1 Site segmentation and sign-up Link to Sample page page: bit.ly/19mX44N from report Another bank taking a clear segmentation approach is BNZ Bank (NZ). When selecting the ‘Business banking’ tab at the top site visitors are presented with a separate SME banking key benefits description – divided by turnover. The page has clear calls to action and also client testimonials at the bottom. Site visitors asked if they want to set business banking as their BNZ homepage The search feature ’What are you looking for?’ will help visitors quickly find what they are looking for. This is one of very few examples of search tools and also the most prominent one October 2013 – Page 5 © Mapa
  6. 6. 1 Site segmentation and sign-up Link to page: bit.ly/1cMwJ1y Sample page from report HSBC (UK): offers < £2m SME prospects a Business Review Tool. This optimises a number of key areas (e.g. improve cash flow, protect business, buy and sell overseas). The review involves 3 steps: answering a number of financial and business specific questions, obtaining a report and “getting in touch” with HSBC advisors to determine how the bank can assist. This is a good example of a bank getting preselected leads. The prospect of a comparative report might make it more enticing. i.e. businesses like yours looks like this across the key business areas October 2013 – Page 6 © Mapa
  7. 7. 2 Digital banking services: Mobile Sample page from report Drawing on their succeseses in retail banking, banks have now expanded their mobile banking offerings into their business customer segments. From our research, three quarters of the banks examined offer an iPhone or Android SME app. It is also clear from our review that banks put mobile banking offerings at the heart of promoting their business banking offerings. All of the examples highlighted are taken from business banking section landing pages. Chase (US) NatWest (UK) CIBC (CAN) Bank of America has surpassed 1* million small business mobile users. “Today’s small business owners aren’t behind desks all day, and many don’t even have a desk,” said Mary Bintz, Small Business Sales executive at Bank of America. “They are in their cars and trucks, on factory floors, shopping for supplies and visiting clients on-site. Bank of America’s Mobile App has kept pace with their demanding schedules by offering full access to their finances right in the palm of their hand.” Bank of America, August 2013 Link to press release: bit.ly/14SYoak October 2013 – Page 7 © Mapa SpareBank (NO) NEWS: Try Norway’s first mobile banking service for businesses *Bank of America have approximately 3 million small business customers in total © Mapa
  8. 8. 4 Business management tools: Big data analysis Link to the site: anzbusinessinsights.com Sample page from report ANZ (AUS) big data initiative ANZ Business Insights, set up in 2010, provides small businesses across Australia with valuable information for free. The tool uses aggregated data (from over 20 million ANZ merchant transactions that occur each week) to illustrate sector or local sales patterns, market share, turnover and provide insight into customer behaviour. The tool takes a lot of guessing out of business planning and helps small businesses save time and resources normally spent on local market research. This initiative still ranks with us as one of the best within the field (still very much an untapped market). It is a very clever use of a bank’s big data advantage without compromising privacy. Read more on the next page. October 2013 – Page 8 © Mapa
  9. 9. Subscribe to our dashboards or use our free social media resources to keep ahead of the Game OUR CLIENTS • Go to our news section on our site and subscribe to the RSS feeds • Follow what we are saying on Twitter @mapainsight • Join our Linked In Group Digital Banking Innovation • Look at what we are reading at our Bookmarks The best way to get in touch is to email the author: Niklas Olsson or Edward Chatham, Managing Director: Or give us a ring on: +44 (0)20 7727 3130 October 2013 – Page 9 © Mapa

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