Our client aimed to launch a financial product to attract customers through a advantageous bonus accrual system, stimulate the growth of their transactional activity, and become the primary payment card, encouraging more people to choose the bank for their purchases of goods and services.
The bank expected that the new credit card would drive the overall bank's Net Promoter Score (NPS) through an improved customer experience.
Based on the Customer Journey Mapping (CJM), the bank's team was able to analyze hidden complexities and make changes before distributing the product widely and actively targeting new customers.
According to the results of the internal NPS survey, users of the credit card have become one of the most loyal segments. In 2020, the product won the open voting in the category of "Best Loyalty Program Using Plastic Cards" at the annual Loyalty Awards 2020. According to the organizers, the project combines three key principles of loyalty marketing: simplicity, transparency of rules, flexibility, and accessibility of rewards.
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Our role was to assess the actual customer journey in the process of ordering and using the card, anticipate and address any issues that could undermine the potential of the new product when launched to the mass audience.
In the project, we accounted for a comprehensive range of credit card usage scenarios from product opening to usage and closure, and customer needs at each stage of the CJM.
We identified eight main stages that needed to be analyzed and compiled a list of scenarios for examination for each of them. The selection was based on the criticality for the business and the impact on the bank's goals:
In the end, we had about 40 scenarios. Each of them was reviewed by a Markswebb employee using UX audit principles. The objective was to analyze the service from various angles and identify as many issues as possible. Secret shoppers were invited for credit card openings, and in-office registration was conducted in the format of an accompanied purchase.
At the stage of product application, it is critically important to eliminate any issues that could complicate or interrupt the customer’s journey - especially as most people are comparing offers from different banks and their interaction experiences. Although people choose banking products primarily based on terms, a customer's priority choice can change if they encounter difficulties during the application process. Attractive terms are not enough - the process must be smooth so that the customer does not "stumble" and abandon the card application.
We hypothesized that the bank's interaction with the customer should be digital, meaning the first point of contact for ordering a credit card is the website. Here, the customer selects the product and expects to get answers to all questions about the product to make a decision and start the application process.
The most important aspect at the initial application stage is to help the customer understand the terms and provide essential information: borrower requirements and the list of necessary documents. If this information is not available on the product page of the website, the customer might abandon the application or encounter problems later, resulting in a negative experience.
If the customer does not find the solution on the website, they want to ask a representative directly. If there is no chat for consultations on the page, conversion rates will be significantly lower, as not every customer is willing to call the contact center—especially if the bank's hotline number is hard to find quickly. It's important not only to have the information but also to ensure its transparency: clear terms reduce the customer's doubts and decrease the likelihood of them switching to a competitor.
After receiving a new product, customers start using it and want to ensure they made the right decision—to achieve the goals for which they applied. For a credit card with cashback, this means starting to receive benefits as soon as possible and enjoying savings on purchases. At this stage, the bank's task is to clearly show the customer that they are getting the expected benefits.
Customer expectations are formed at the very beginning of the journey, and mismatches to these expectations become apparent later across various channels. CJM (Customer Journey Mapping) is an excellent tool for identifying situations where shortcomings at certain touchpoints lead to a deteriorated customer experience elsewhere.
The customer will be even more disappointed and may abandon the product if they cannot quickly understand why cashback was not credited. They expect to find this information in the mobile or online bank, not by manually searching through a tariff page. Furthermore, the lack of necessary information leads to increased inquiries in chat and higher operator workloads, negatively affecting other customers' experiences and increasing the bank's costs.
Favorable terms of a card product compared to competitors drive an increase in purchases with the card, but this is solely a rational motivator that the bank pays for with each transaction. For the customer to become accustomed to the card and be satisfied enough to default to it for all purchases, convenience in managing the card online is crucial.
A barrier to regular card use can be a lack of information after a transaction: for example, if the customer does not receive an SMS despite having subscribed to such a service. For a credit cardholder, it is particularly important to understand in real-time how the debt and available limit change after each transaction. Notifications help ensure that the transaction went through correctly - such as avoiding double charges. It's important to check the success of notification delivery in different situations, like weak online connections.
Terms that seem clear at first glance can become confusing when the customer tries to follow them. It's important to clearly communicate all nuances and details of these conditions to the customer.
Firstly, which transactions count and which do not: for most people, a store purchase and paying utility bills through the bank are equivalent card transactions. Secondly, that only processed transactions for the month are considered - meaning that large purchases made in the last days of the month might not be counted. Otherwise, the customer will be disappointed with the loyalty program, as they cannot predict the result and do not receive the expected reward for their efforts.
In customer experience theory, there is a concept called the "moment of truth," which is a critical point when the customer decides whether to continue their relationship with the company. For credit cards, this moment is debt repayment. The clarity and proactivity with which the bank organizes debt payment determine the customer's ability to use the product as planned—without penalties and issues with a damaged credit history.
If the bank notifies the customer about the payment and provides the exact amount to repay within the grace period, the customer understands that using the credit card is comfortable and straightforward.
Through CJM, we identified other service channels that influence the customer experience during this critical moment and how to improve it. For example, if a bank representative calls to remind about a payment, the call should be consultative in nature. The representative can assist with choosing a convenient payment method and remind the customer that the deadline is approaching but still has time remaining.
This case study demonstrates the effectiveness of using CJM and UX audits to launch a successful credit card product. By identifying and addressing potential issues throughout the customer journey, the bank was able to improve customer satisfaction, increase conversion rates, and achieve a high level of customer loyalty. The project highlights the importance of understanding customer needs, providing clear and transparent information, and ensuring a seamless user experience to drive product success and improve overall bank performance.
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