measuring customer-centric mobile banking & beyond

1 #Dynatrace

Measuring Customer-Centric Mobile Banking & Beyond

Erwan Paccard

Marketing Director

Dynatrace

Peter Wannemacher

Senior Analyst

Forrester Research

© 2015 Forrester Research, Inc. Reproduction Prohibited 3

We work with business and technology leaders to develop customer-obsessed strategies that drive growth.

Designing & Measuring Customer-Centric

Mobile Experiences In Banking & Beyond

Peter Wannemacher, Sr. Analyst

December 3, 2015


Agenda

› Where we’re at: The state of mobile experiences in banking & beyond

› Why customer obsession matters: The impact of mobile experiences

› How to measure success: The five steps of mobile measurement


Agenda





Mobile is a catalyst for cross-channel and a wider shift in behavior

Source: BMO downloadable smartphone app


Source: Scotiabank

Mobile continue to evolve

“The expectation that I can get what

I want in my immediate context and

moments of need”


Going forward, successful strategies will take an iterative approach

Sources: Forrester Research; Schadler, Bernoff, and Ask, The Mobile Mind Shift, Groundswell Press, 2014


Discover zeroed in on a critical mobile moment with its innovative “Freeze” tool

Source: Discover iPhone app


Source: Forrester’s Q2 2014 Global Mobile Executive Online Survey

Firms are spending millions on mobile

Base: 72 digital business professionals

(percentages do not total 100 due to rounding)


Source: Forrester’s 2015 Mobile Banking Benchmark

But there is much room to improve

Overall mobile banking score by bank:


Agenda





We’ve entered the Age of the Customer

A 20-year business cycle in which

the most successful enterprises will

reinvent themselves to systematically

understand and serve increasingly

powerful customers.

Source: Forrester Research


Mobile is often the critical touchpoint

Context BrandEverything you

know about the

consumer at the

point of

engagement.

Everything the

consumer knows

about your firm at the

point of engagement.


Mobile is often the critical touchpoint

Context BrandEverything you

know about the

consumer at the

point of

engagement.

Everything the

consumer knows

about your firm at the

point of engagement.

Customer

Experience (CX)

lives here


Forrester’s research shows that great customer experience drives revenue


Banks that design great customer experiences see higher retention


Customer experience is correlated with deeper forms of loyalty too


Improving customer experience results in far higher brand advocacy


Great CX drives revenue for banks


Agenda





Measurement varies among banks

Source: Forrester's Global Business Technographics® Mobility Survey, 2015


Five steps of mobile measurement

1. Identify what you can measure

• Be pragmatic

2. Align metrics with your business objectives

• Figure out what you should measure

3. Collect The Data

• Instrument your apps, sites, and other efforts

4. Turn metrics into customer insights

• Data can be powerful indicators and proxies

5. Take Action To Improve Your Results

• Use A/B testing to test new designs & features


Measure across five areas

1. Awareness

2. Adoption

3. Use

4. Experience

5. Impact


Great measurement yields innovation

Source: U.S. Bank iPhone app

Thank you

forrester.com

Peter Wannemacher

+1 (617) 613 6107

[email protected]

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Erwan [email protected]

Measuring and ManagingCustomer Experiences

Digital CX analytics

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Delivered CX measure made simple

154 k 1,5 k 200Satisfied Tolerating Frustrated

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Response time

User Experience Index

Errors

Context

Visit / Session

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Transactional view

50% abandoned transactions

Visit 2

6% steps with issues

Visit 3

Visit 4

Visit 5

Visit 6

Visit 1

Needed for abandonment

and conversion rates

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Time

Engagement Rate

User Experience Index

Digital Performance

Real Time measure of CX business impact

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Digital Performance Management Platform

Performance

Scalability

Time to Market

Quality of Service

Real-time

Experience

&

Behavior Customer Analytics

SEO

Abandonment

Conversion

DevOps Business

Mobile App

Browser

network

multi-geo

3rd parties cloud

containers

services

codehosts

synthetic

logs

business

transaction

applications

multi-tier

network

relax

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Dynatrace

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All user actions are captured

Last step CX issues impact the

whole transaction

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Starting Point

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Omnichannel

Analytics

Starting Point

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Omnichannel

Analytics

Starting Point

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Omnichannel

Analytics

Starting Point

Tech teams

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Cust Care

Starting Point

Omnichannel

Analytics

Tech teams

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Case Study 1European Retail Bank

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• Belgian Bank with Branches in Every City

• Recent Rebranding (name change)

• Mobile Banking focus to attract new customers

• On-line presence key, conducted an audit

European Retail Bank

“Your Bank in Your Pocket“

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Deployed Dynatrace Analytics

UEM AppMon

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• Business aligned User Metrics• How many and which users (Unique User Sessions)

• Transactions for each (as a measure of engagement)

• Business aligned Critical Transaction Performance Trend• Account History

• Transfers Summary

• Check Last Transfers

• Standing Order Summary

• Login; Validation of Login; Multiple Login Check

• Manage CX and Performance from Business Requirements

Deployed Dynatrace Analytics

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European Bank

Database

CX is Analyzed

Against

Conversations

Biz Continuously

Capture CX

CX Enhancements

are Identified and

Prioritized

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Case Study 2US Regional Bank

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• Rapidly Growing Regional Bank

• Top 25 US Bank with 650+ Branches Across 7 States

• Part of a Multinational Banking Group

• Functionality and Technology Market Leader

"Mobile banking is crucial to meeting customers' demand for around-the-clock access to their money“

- Chief Digital Banking Officer

US Regional Bank

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• Mobile with Differentiating functionality

• Customer Alerts

• Leading CX

Business Focus

Best in Mobile Banking Functionality– 2013 & 2014

Leading in Most Comprehensive Alerts – 2014

Best Mobile App award - 2015.

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User and Application stack Analytics

UEM AppMon

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Challenge and Solution

Database

Biz Assess the

Impact of Issue

CX issues, mobile

Web logins took too

long

IT Diagnose Fault

from Transaction

PurePathTM

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Time

What did they see?

Std End User

Response Time

JDBC Connection

Pool Utilization

~300% JDBC pool

~50%

End User

Response Time

19 secs Response

First Alerts Sent

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Unified

User & App

Insights

Improve

MTTR &

MTBF

Optimize

Spend

Deliver on

user sat &

SLAs

Improve

release

quality

Gain

Strategic

Insights

Protect &

Grow Brand

Reduce

unplanned

work

Release

capabilities

faster

Keep up with the

pace of change

Uncover new business

insights

Digital

Business

Owner

Development Operations

The Digital Performance Platform

Identify and prevent

problems

Increase

Conversions

& Revenue

Makes real-time information

about digital services, and their

users, visible and actionable by

everyone in an organization

Increased Sales

and Engagement

Operational

ExcellenceInnovation

Acceleration

All user action capture

for behavioral analytics

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Summary

1. User experience and performance directly impact adoption, use

and business results

2. There are technologies to capture delivered CX quality and the

technical root causes

3. Those analytics foster IT / LOB collaboration and help focus efforts

4. They also monitor business results in real-time.

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Thank-you!

Time for Q & A

Erwan Paccard

Marketing Director

Dynatrace

Peter Wannemacher

Senior Analyst

Forrester Research

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