The digital landscape becomes more important every day, and the pandemic has dramatically accelerated this process. Optimizing the digital customer experience (CX) is essential to capture and hold customer attention.
Convenience and quickly getting the right information have always been factors when choosing a product or service. However, in today's world where websites compete for attention, there's always a delicate balance between providing too little, just enough, or too much information.
Capturing attention with a winning digital customer experience
Attention has become scarcer, options are numerous and just one click away. Your digital customer experience must provide the right information without being overwhelming. How can you ensure that your potential customer receives the right information within seconds, preventing them from clicking away due to too much (or too little) information?
With financial products, this information balance is even more critical. Consumers want an excellent and reliable product when taking out a personal loan, but won't spend hours searching for all the necessary information. A smooth digital customer experience must clearly provide the information needed to answer the question they have right now.
What are the rates? What's the minimum and maximum amount? What are the requirements to apply? How does this loan fit my personal needs? In 2022, these are all questions that must be answered within seconds before the potential customer's attention span is exhausted.
In the Personal Loan Study from January/February 2022 Personal Loan Study in Spain, BBVA scored best on all information metrics for their digital CX and is the biggest overall winner. What information does the potential customer want before choosing where to apply for a personal loan, and how quickly do they want it? The WUA dashboard provides insights into these and more questions.
An optimized digital CX: Covering essential information without overwhelming the visitor
- "How much money do you need?"
The quick calculator tool allows the visitor to get straight to the point when needed. Direct feedback in a simple way: drag the slider to the required amount and click the button.
- "Applying for a loan is this simple"
BBVA understands the importance of a quick and simple solution to the consumer's problem. There's no need to visit the branch or open a new account, just the essential documentation and you're ready to go.
- "We're lowering rates on our loan for new customers"
Not only can you apply very quickly, but you also get an excellent deal if you apply now. What are you waiting for?
A personalized digital customer experience: From 'Quick-and-dirty' to 'Personal-and-polished'
The ease with which the quick calculator tool is used significantly increases the chance of drawing potential consumers further into the funnel. An optimized digital CX will reflect the needs of their specific customer journey and provide a personalized feel. One quick slider movement and button click leads the visitor to a more advanced calculator that adds a personal touch to applying for a loan.
Overall in the Spanish market, 38% of qualitative responses regarding information clarity are negative. For BBVA, only 18% of all comments have a negative connotation (WUA Dashboard Data)
"The loan can be fully simulated on the same page."
"There's a quota simulator right upon entering the page, which makes it quite quick and easy to find the information."
"They are meticulous when it comes to providing all the necessary details to apply for a loan."
"The colors and design of the calculator are simple and clear"
Additional information
Before diving into loan specifications, potential customers might need some additional information by calculating a premium.
If this customer isn't served, they tend to feel pressured to apply for a loan and are more likely to leave the website to check out a competitor. BBVA solves this problem by informing about the key features of a loan at BBVA:
a) Lower rates + specifications
b) Loan ranges: €3,000 to €20,000
c) Fast response times
d) No need to open an account
Not enough information to make a calculation yet? BBVA links directly to a page where all information is extensively reviewed and explained. Enough information to make a calculation? Go ahead!
"Everything is also explained very well; the page is comprehensive and has all the necessary information." "It's simple and very clear. Information is easy to understand and find" "All information appears in a very schematic and clear way to have all the details."
