suntrust online banking modernizationrealmco.com/case-studies/suntrust_whitepaper_082815.pdf · •...

SUNTRUST Online Banking modernizationCommunications strategy and support

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OpportunityOne of the top-15 largest banks in the U.S., SunTrust Bank serves 11 states in the Southeast and beyond from Arkansas to West Virginia, plus Washington, D.C. After years of only minor product and programming updates, the SunTrust Online Banking platform was due for modernization in April 2015 to meet the online demands of a diverse client base, as well as to conform its look and feel to a recent SunTrust website upgrade.

According to bank research, online banking will serve 90% of online U.S. households as their primary financial institution by 2019 (Javelin Research). The American Bankers Association states adults 18-34 are driving online and mobile banking growth (pewinternet.org). And based on Intuitive and SunTrust client insights from 2014, the goal was to make the experience simpler for clients, increase feature/function awareness, including accommo-dation of future tools, and gain a consistent user experience across SunTrust Online Banking, suntrust.com and mobile and tablet channels.

To reduce confusion and ensure a smooth transition as clients adapted to the new user interface and reorganization, the bank wanted to communicate to these clients in advance of the April launch to set expectations. Communications were to focus on preparing them for the launch and educating them on changes and how they will improve their day-to-day banking experience.

The bank also saw an opportunity to share these new developments with SunTrust teammates, many of whom are also online banking users, also keeping them informed so they could help address client questions and concerns.

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2 millionSunTrust Online Banking clients

SunTrust ONLINE BANKING MODERNIZATION


3SunTrust ONLINE BANKING MODERNIZATION

Campaign icon

Pre-launch splash page


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AnalysisSunTrust has approximately 2 million Online Banking clients, 90% of whom have been active within the last 90 days.

Bank research found, in general, that the online banking audience continues to grow, requiring banks to keep up with the growing number of consumers who wish to conduct their financial business online. Seventy percent of U.S. consum-ers are comfortable with the increasing use of virtual communications in banking in addition to in-person conversations, and 73.5% now use online bill payment (IDC published: 07/09/2012: www.idc.com/research/container_error.jsp). And 2014 was the first time that more U.S. online households paid bills through banks and credit unions instead of biller websites (Javelin Research).

Mobile users desire an integrated experience allowing them to move money, pay bills and monitor alerts, so it will be imperative for financial institutions to upgrade online banking to make this experience possible (Javelin Research).

Goals and ObjectivesWith current clients generally satisfied with their online banking experience, based on SunTrust proprietary research, the objective in communicating the SunTrust Online Banking modernization above all was to set expectations early, minimize disruptions and avoid surprises – one thing that consumers never want to experience when banking. In keeping with this objective, SunTrust had a goal of a 25% open rate and a 3% click-through for its email communications.

25%open rate and 3% click-through set as goals




Pre-launch social media content


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SolutionWe worked with SunTrust both on site and via weekly teleconferences to develop an appropriate theme and graphics, yet work within the parameters of their brand and its well-established guidelines. We developed a plan to roll out communications during three stages: pre-launch, release and post-launch via email and digital assets, as well as other internal and external messaging. Across all stages, we were tasked with emphasizing how the upgrade would make online banking simpler and smarter, giving users shortcuts to relevant features and streamlining overly complicated processes. In addition, online bankers would have a consistent appearance and experience across desktops, laptops and tablets.

“A brighter way to bank” was chosen as the theme, referencing how this bank-ing update is smarter to help you better manage your finances. It also comple-ments the bank’s sunburst logo and the SunTrust tagline, “How can we help you shine today?”

Email

• Based on SunTrust research, we knew that clients tend to ignore banner ads and page interrupts, preferring new feature information via email. With a bank template, we were responsible for developing copy. For distribution in early March, the pre-launch email teased the fact that the online banking upgrade was coming to make banking simpler. It focused on what clients needed to know for the best experience possible and to avoid surprises – upgrade browsers and bookmarks and be prepared to select your preferred account on initial login. Clients were also informed of banking alternatives they could use during the brief downtime when the transition happened in April.

• At the beginning of April, a release reminder email was sent, again building anticipation for the change by providing a link to an online demo and briefly summarizing benefits such as a one-screen view of all accounts and the ability to perform bill pay, transfers and pay-a-per-son from the same section (not available before). Again, clients were reminded of banking alternatives during downtime.

• For the week of the release, a final email was sent to clients, driving them to view the online demo to see what’s new in online banking with a series of questions (e.g., “Do you know about the new view of all your accounts?”).

3 stages of communication:pre-launch, release and post-launch



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Digital Assets

• The centerpiece of this communications strategy was an online demo – the Online Banking Tour – divided into eight videos to provide an overview of benefits and answer the primary questions that an online banking user would most want to know as a result of the upgrade, including “How do I view my accounts?”; “How do I pay bills?”; and “How do I make internal transfers and payments?”The tutorial videos gave a quick and easy look at how the process now worked with the upgrade, giving viewers a sample of the better banking experience that awaited them. A landing page housed the videos and included a carousel for access with a brief description of each video.

• To promote the upgrade both pre- and post-launch, graphics were developed for the Online Banking splash page and Personal Banking landing page.

Other Messaging

• Two stories – pre- and post-launch – were provided for the internal teammate e-newsletter, Spotlight, keeping teammates up to date on online banking changes, also making it easier to speak with clients about the changes.

• A PDF flier with an image of the site and callouts highlighting what functions are performed where was created for in-branch use to make it easier for teammates to speak with clients regarding the upgrade. This flier could then be given to the client for later reference.

• Social media postings were created to tout the upgrade coming soon, a pre-launch notification the week of launch, banking alternatives during the upgrade and a now-live message. In addition, just in case of a problem, a message was also created if upgrades were delayed.

8video demos were produced




SunTrust Online Banking demo site landing page

Quick reference guide PDF



Link to videoshttps://www.suntrust.com/static/OnlineBankingDemo/index.html

Sample screenshots from multiple videos


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Implementation and ChallengesMeetings began with SunTrust in early January. Two weekly teleconferences - one with the project manager for the Online Banking Tour, one with the project manager for the remainder of the pieces – continued through launch. Realm developed messaging and all copy, including scripts for the eight vid-eos, and worked closely with SunTrust to finalize all storyboards. We con-tracted with an outside animator and provided direction as he executed the demo videos.

We designed all digital assets, as well as the PDF flier and social messag-ing. With this site confidential until launch, screen captures were done at SunTrust. Since the site was also still under development, a great deal of time was devoted to scrubbing these screens to ensure only dummy information – no actual company names or seemingly real account numbers – was used, and to remove the URL from the browser window. Also, as changes were made to site architecture and layout, screens continued to be scrubbed and swapped until the launch of the demo.

Though we suggested internal emails be developed for teammates to coincide with the release of client emails, SunTrust felt that the teammates already received too many email communications and that they would be overlooked or ignored. We instead concentrated on the Spotlight e-newsletter stories.

33%open rate achieved for emails



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Post-launchhero image for SunTrust homepage

Post-launch online ads for SunTrust homepage




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Measurement and EvaluationThough the launch of the upgrade was delayed a week by SunTrust based on the original schedule, all aspects of the communications plan worked excep-tionally well, especially considering the magnitude of this change for the bank and its clients.

The SunTrust help desk reported significantly fewer calls than anticpated based on previous experience when electronic bill pay was upgraded. Communication was credited with this positive experience.

Goals and Objectives Results

SunTrust had a goal of a 25% open rate for its email communications and a 3% click-through rate.

SunTrust has reported a 33% open rate and an approximately 5% click-through rate.

The weekly teleconferences kept the client apprised of our progress and sched-ules, while also providing us with any updates as the site continued to change.

Because of the site changes throughout production and more screen scrubbing than originally budgeted for, costs for the Online Banking Tour did increase. An ideal situation would have been to begin work from a completed site already populated with dummy information.

Also due to continued site and screen updates up until launch, SunTrust provided a list of additional changes to be made to the video demos after the launch of the upgrade.

5%click-through rate achieved

suntrust online banking modernizationrealmco.com/case-studies/suntrust_whitepaper_082815.pdf · •...

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