Customer Engagement 2.0

We’ve worked with a lot of online marketing and e-business teams at Global 2000 companies, and a commonly heard frustration is that IT is slowing down online innovations due to resource constraints and conflicting priorities

Marketing wants to go live quickly, run a lot of tests and make frequent updates, all to optimize conversion or tweak the user experience. IT wants to make sure systems are running smoothly, are maintainable and cost effective.

Does it really have to be so painful? No, we don’t think so. We’ve seen with several ways to ease the tension between e-business and IT, so both can meet their goals.

Background

First a little bit of background: we’ve implemented Rich Internet Applications at dozens of Global 2000 companies, usually to optimize online conversion, increase customer retention and cross-selling, or to improve the user experience in general. We usually get the order from the e-business department and work with IT for the implementation. We use the following strategies to speed up projects:

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On the Internet Evolution weblog Rob Geier presents some interesting findings from an Informationweek survey about Rich Internet Applications. According to the survey, the most important reason to use RIAs is improving the Customer Experience. Although management dashboards and customer support are also popular, many companies are already building RIAs for self-service and e-commerce.

Rob’s main RIA example is Home & Abroad, a personalized travel site. If you have a couple of minutes, use the ‘Quick Planner’ to see how they suggest a trip itinerary based on your preferences: pretty cool.

However, when I started editing my itinerary I wasn’t very impressed with the user experience. Until I realized why I wasn’t impressed:

► All travel planning sites need great faceted search!

And that’s what Home & Abroad is missing. I scoured the internet for some other examples. I found some good sites via the excellent Web 2.0 Travel blog and Travel+Leisure’s Top 25 Travel Sites. But let’s first define what we mean with Faceted Search.

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Today Netbanker wrote a post about the rapid growth of the financial planning website Mint.com. According to Compete, Mint had 13% more visitors in July than in the month before. That makes a total of 460,000 visitors per month. That made me wonder how popular another personal finance website is: Wesabe. That site differentiates itself from Mint by fostering a lively community.

Compete: Mint vs Wesabe

On Compete it’s easy to compare the popularity of multiple websites. Compete monitors the online behavior of over 2 million Americans (with their permission), which form the basis for these statistics. From the graph it’s clear that Mint has a lot more visitors than Wesabe.

However, it’s always a little unclear how reliable these data are. Therefore I’ve done the same search with several other traffic measurement websites, using AttentionMeter. You can see the results after the break.

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Steve Furman found out that an elaborate multi-channel campaign does not necessarily work. Mellon Investment asked him to confirm his tax payer identification number (TIN), by either phone or internet. However, he eventually had to print a PDF document, fill it out by hand, and use USPS to get it back to Mellon.

What went wrong?

On the Internet, the regular login worked, but he was locked out of his account when he was asked to repeat the credentials when confirming his TIN.

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The Financial Brand writes about Goldwater Bank’s new website, which is a reflection of Goldwater’s upscale image. Their branch offices look more like posh hotel lobbies than the usual slightly run-down brownish interiors of many other banks. The article mentions Goldwater’s luxury offline amenities like concierge and couriers. So let’s take a closer look at their new website, and see whether it provides the same luxury experience.

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Because most mortgage shoppers get information online nowadays, traditional mortgage lenders need to improve the online customer experience. Therefore I set out to compare the websites of six large traditional lenders: Bank of America, Chase, Citibank, Countrywide, Washington Mutual and Wells Fargo. To give it some focus, I decided to focus on payment calculators, as Forrester thinks those are the most important. For an international comparison, we’ll be looking at the Moneyou calculator, a subsidiary of ABN AMRO.

The Test Scenario

A couple in California is looking to buy their first home in the next year, so they want to find out how much they can afford. They each make about $7000 a month and they have approximately $60k available for a down payment. They estimate they can pay approximately $4000 a month for their home.

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