Tips to Increase Online Engagement in Banking & Insurance

According to Statistica, in 2007, internet banking penetration in the UK sat at just 30%. In 2017, that number has rocketed to 63% online usage – and is only set to increase.13 Yet, as bankrate.com outline, there are always instances when a branch visit (or more specifically face-to-face engagement) may be preferred, such as when dealing with account issues, opening new accounts or making larger transactions. But what if it was possible to achieve that personal, face-to-face interaction online, and bridge the gap between on and offline in Banking and Insurance?

Conversational commerce offers the solution here – improving online engagement and sales by creating more personal, accessible customer experiences. So how can Banking and Insurance brands use them to increase online customer engagement?

Tips To Increase Online Engagement with Conversational Commerce solutions

1. Add video chat and chatbots to your website

Conversational commerce is about connecting a brand to an online audience in real-time. It defies traditional marketing limitations by providing the capability to reach an unlimited number of people simultaneously. With just one presenter speaking through live video chat for example, it’s possible to serve hundreds of potential clients and even add unlimited concurrent channels with more presenters to ensure conversations and consultations stay personal, engaging and in real time.

2. Train engaging, interactive presenters

With a real-time solution it’s possible for video presenters (your brand experts) to not only listen to customer needs, but also adapt to suit their requirements. Live presenters can hold real conversations and personalized consultations as they would in-store, creating a helpful, engaging experience that better nurtures, supports (and converts!) people through interactions on your site.

3. Nurture engaged visitors for more effective conversion

Effective, helpful nurture is key to success. As not all viewers in your live chat, video consultations or virtual branch tours will be ready to purchase/ choose a financial product, it’s important that the information you use aligns with your visitor’s buying stages. For example, if someone is just researching different options, be sure you can answer their questions and point them towards a best-fit solution. However, if someone already knows what product they want (such as a mortgage application, or insurance plan) be sure your that presenters are able to support them through the applications process and can maintain that engagement by addressing any complexities or concerns.

By implementing a live video education tool on a website, it’s easier to interact, entertain and build trust with visitors. With the right presenters, and the right conversations, it’s possible to have much higher quality interactions with online prospects – leading to better online engagement and conversion.

 

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Example of One-to-Many solution on a banking website.

In Whisbi’s experience, clients have seen a 6X increase in engagement rate, compared with standard chat and 10X higher efficiency, as conversational commerce solutions increase the maximum number of customers engaged per agent at the same time.

 

Download our latest Banking & Insurance eBook to discover more on how conversational commerce is helping the industry bridge the gap with its customers online

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