Predicting customer satisfaction at ANZ, NAB, CBA and Westpac

By October 30, 2015Tuesday teardown

In summary:

  • The more times “you” or “your” is used on the home page of the big four banks, the higher the bank’s customer satisfaction rating.
  • This is great evidence that by speaking personally and directly to customers, your brand becomes more engaging and more relatable (no matter what you’re selling).

Websites referenced in this teardown:

Transcript of the teardown:

Hi, I’m Steve Pell from TLP. I’m here for another one of our marketing tear downs where we use a practical example to find some quick wins that you can apply to your website to get better returns from digital marketing.

Today I’m going to talk about the language that you use on your website – using a practical example from the big four banks. We’ve got ANZ up here and we’ll work through the others in sequence. The takeaway from today is that the more times you use ‘you’ and ‘your’ on your website, the more engaging your website will be and the better experience customers will have with your brand digitally.

What I’m going to use as a benchmark here is the Roy Morgan customer satisfaction research. Every quarter I think or every half a year, Roy Morgan surveys bank customers asking them how satisfied they are with their bank, how likely they are to recommend. You can see here at the moment it’s led by Commonwealth Bank followed by Westpac, NAB and last of the big four is ANZ.

Now, if we go here to the website, we’re just going to search for the “you” or “your”. You can see here for ANZ, they have five occurrences of “you” on their website. You can’t always see them highlighted but often they are in these sliders here.

Here on NAB, if you remember from those consumer satisfaction rankings, they’re third at the moment in consumer satisfaction. We’ll just search for “you” or “your” here and we’re going to see that they’ve got 10 mentions on their website, 10 times they’re talking directly to the customer. To quote: “You can trust our experts to understand your needs and help you make the most of your money”.

It’s very direct, just the way that you would talk in a sales meeting or just a normal one-on-one conversation. It’s not theoretical. It’s not over the top. It’s good plain language that everyone can understand and relate to.

Let’s go to Westpac. You can see that Westpac use you or your 12 times. For example: “Talk about smart ways to access your money”. “At Westpac, we’ll help you own your home sooner”.

Again, you can see where I’m going with this. The more times that you talk in the customer’s language, the better experience they’re going to have.

We’re on Commonwealth Bank here. We’ve got this up already. There’s 24 times that they’ve used “you” or “your”. That’s almost five times more mentions directly of “you” or “your” than ANZ, so the lowest ranked bank in terms of customer satisfaction.

This is a great practical example of just how powerful this is when you use this direct language to talk to the customer.

One final example here, just to prove the point a little bit further, is Bendigo Bank. We search for “you” or “your” here and you’ve got 41 mentions. That’s almost twice again what CBA has. And looking back to the Roy Morgan data, if you look outside the big four, you can see Bendigo Bank is all the way up here 20% clear on number of customers who have been very, very satisfied.

This is a really good example about the power of direct language talking to your customers. I’ve talked about this before and it’s one of the quick ways you can get much better returns from your website, use really direct language, talk to your customers and you’ll see some really good returns around engagement and customer satisfaction.

Just as a quick reminder, if you found this valuable, we do this process in-house. It’s called a Content Audit. You’ll get a detailed 90-page report on the quick ways that you can improve your return on digital marketing and your content.

Click on the link below and you can find out more information.