In these days of information overload, clients are not only better informed, they are more confused than ever. They still need guidance on how to invest, when to borrow and how to plan. But it’s becoming a challenge for relationships managers to get face time with their clients. Ironically, with convenience and innovation freeing up our time, no one has time to meet.  

Meetings maintain relationships and the consequences of not seeing one another can be dire.  When you can’t meet, you can’t explain your latest innovative product offering to your customer.  You also can’t foresee their needs and you can’t, quite simply, build the relationship. This lack of engagement triggers a domino effect that can lead to a lack of clients, a decrease in average client revenues, and ultimately an overall loss of assets under management.

The good news? This bleak scenario can be solved before it happens. Co-browsing is one of the tools that empower you and your customer to be naturally communicating seamlessly between offline or online. With more than one hundred successful co-browsing implementations, we’ve seen firsthand how co-browsing solutions facilitate engagement and relationship building. We had the opportunity to assess how it made the difference for one of our clients, a Swiss financial services provider, as they unrolled a new innovative product for this existing client base.  

The product managers were aware of the complexity of this new product offering. A brochure or a phone call would not help customers understand the novel product. An in-person explanation was necessary. But this would be challenge as many customers were not willing to come to the bank for a meeting because of the effort involved.

Using a marketing A/B testing approach, unblu was able to gather insights on how collaborative tools were opening conversation channels and assisting managers in delivering great service and consequently, more sales.

The objective of Option A was for customers to come to an in-person meeting at a retail branch.  The approach involved targeting nine hundred customers using only traditional marketing methods – direct mail product collateral and telephone calls.

With Option B, the objective was slightly different and the sample size smaller (100 customers) – to schedule phone or co-browsing appointments of 20-30 minutes per customer. The online meetings were scheduled during times convenient to the client, often in the evening.

After the campaign, we run a survey with the 100 clients who participated in the Option B field test

  • 81% of them answered the questionnaire.
  • 79% rated the flexibility in scheduling a remote bank appointment as positive. 34% as very positive.
  • 84% rated the ability to get a high-quality consultation in the comfort of their home as positive. 37% as very positive.
  • 78% rated the clarity of the information presented as positive. 26% as very positive.
  • 84% said they would like to receive future online consultations. 42% requested it strongly.
  • 61% said they would be prepared to order the product right after the online consultation. 16% strongly confirmed their readiness.
  • 94% said they would recommend their bank to others based on the co-browsing experience. 52% recommend the bank strongly.

Key Take-Aways

  • Clients are very interested in collaborative customer interfaces. After the initial online consultation, more than 80% of customers welcomed the opportunity to receive future online consultations. This meant the bank could increase the revenue per client while reducing the cost to market.
  • With increased customer satisfaction and loyalty, the participants became enthusiastic ambassadors for both the bank and the technology. The survey results indicate that more than 90% would recommend the bank based on their collaborative online experience with experienced sales staff.

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