The Forum Buzz: the changing customer journey

David Cowan

David Cowan

Managing Director

The Financial Services Forum

This afternoon’s CMO Surgery looks to be an excellent discussion. We’ll be joined by Christopher Brooks, Managing Director, Clientship; Brian Stewart, Global Head of Customer Insight, Analytics and Reporting, AXA Investment Managers and David Lundholm, Director, New Income Streams, L&G Insurance.

Having been on the pre-event call earlier this week, I’m really looking forward to our panellists further expanding on some of themes they raised. The discussion will provide fascinating insights around consumer behaviour during the pandemic and changing expectations of user experience. The session will be taking place at it’s regular slot, 1500-1540pm today.

 

Five Things We’ve Learnt This Week

1. This week’s consumer insight report from MESH Experience found that there was a correlation between the high communication presence banks have utilised during the pandemic and increasing consumer sentiment that banks are ‘doing enough to help customers’

2. However, the research found that there was a continued decline in banks reaching customers through their owned media channels. MESH state that their findings indicate that owned media experience and engagement has the ‘highest impact on brand consideration, both for keeping up consideration as well as improving it’

3. Fleishman-Hillard’s COVID-19 Mindset research found that 42% of survey respondents believe they will base future purchasing decisions on companies that took care of employees during the crisis, as Ludo Baynham-Herd, Associate Director, discusses in his blog. Interestingly, just 22% of people believe major corporations are doing well in their role. This suggests a ‘rethink of responsible capitalism’

4. Empowering writers to be personable and bring character and personality to corporate copy is essential when curating a distinctive brand tone, as Pete Dewar, Director of Brand Language at The Clearing discussed during Tuesday’s webinar. Trust your writers to be ‘true to your brand’, and give them the confidence to exercise creativity

5. Most brands have paved the way for an improved relationship with customers during the pandemic, but what happens when temporary services and products are removed? As Liz Willder, Head of Financial Services at Fleishman-Hillard explains in her thought-piece, companies who want to sustain change long-term ‘need to demonstrate that this behaviour in a time of crisis is a behaviour that is here to stay, and that customers can trust them to do the right thing’

 

Coming up Next Week

We have two webinars scheduled for next week. On Tuesday 9th June, at 1500-1600pm, we’ll be joined by Colt Foutz, Director, Digital Marketing Group at TransPerfect and Matt Lowe, CEO and Founder of performance.io for our Transcending Borders: Marketing to the World with Multi-Lingual Content webinar.

Those who made it to the live event earlier this year (pre-lockdown!) will know that this is a must-listen for anyone working with multi-lingual marketing and content teams; internal or agency.

Colt and Matt have a deep understanding of executing multi-lingual localised marketing and content strategies. They will touch upon multiple elements in this session, from how marketers can harness local intelligence to understand differences in search intention, to making sure your content resonates with the intended audience.

Next week’s Friday CMO Surgery will examine how the role of social channels has changed during the pandemic, creating a golden opportunity for businesses to engage and support consumers, while keeping their brand at the forefront when selling isn’t an option.

 

Have a great weekend, and see you next week.

David

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