A way to improve the onboarding process

1. Customer Journey Mapping in Banking Sector
a case study
How to improve the onboarding process?

2. The Challenge
Our Client wanted to create a Customer Experience Map throughout all stages of the Customer
Journey, covering all used channels of interaction.
The ultimate goal was to improve the onboarding process, reducing the risk of creating a dis-jointed
experience for the current – and potential - customers.
The key research question was what were the customers’ needs, expectations and pain points at
the key touch point at every stage of the customer journey?

3. The Approach
We designed and ran a three-stage survey:
A Qualitative Exploration (focus group discussions), to define and describe the customer journey
from customers’ perspective, registering the important drivers and touchpoints through the
process;
A Quantitative Survey (CATI), to verify and “size” the qualitative findings. It provided better
understanding of the importance of the drivers influencing customers during their on-boarding
journey;
A Mystery Client Drill to capture the actual customer experiences in the branches and to evaluate
the employee performances vs. the company standards, client expectations and competitors.

4. The Outcome
Along with the detailed picture of the specific Customer Journey, the qualitative research
discovered the “correct reaction in extreme circumstances” to be the ubiquitous underlying driver
of satisfaction throughout the entire onboarding process, especially when lined with small gestures
of appreciation and time saving procedures.
The observed high level of satisfaction with the brand was also confirmed at the quantitative stage,
together with a couple of small, but very specific needs related to the credit card propositions. The
level of Client Service turned out to be defined by speed of service and (quality of) information
provided.

5. The Benefit
The applied holistic approach allowed us to capture – and analyze – the integral Customer Journey
and focus on the specific touchpoints with potential to improve the onboarding process.
This methodology allowed for very specific recommendations related to establishment of better
relationships (internal and external), corrections in employee attitude, stronger respect to the
client’s time and more effective transfer of meaningful information within and outside the
institution.

6. How LOGO Research covers the On-Boarding process:
The Quantitative Perspective Focus: What is most important – where shall we focus our efforts?
The Qualitative Perspective Focus: What the process looks like from customers’ perspective?
• How customers get aware of the bank?
• What motivates them to start looking /
listen to?
• What triggers the process?
• What barriers they consider?
• What drives the „table of contents” and
the size of the consideration set?
• What drives the actual choice?
• What is the sales process experience?
• How the actual experience changes the
perspective – what starts to be important
at this stage and what stops?
• What would be important if the process
starts over?
• What is the aftersales experience – is it
consistent with promises / expectations?
• What is the overall satisfaction?
• What is the level of our customers
commitment – are they loyal to us and
why?
• What makes clients happy and what
disappoints them?
• Which are the most important channels,
drivers and barriers?
• How big is the consideration set?
• Which other banks are considered?
• What are the key drivers of choice for
different banks?
• How customers evaluate this stage –
versus needs, expectations and
competitors?
• How loyal are our customers?
• Where do we stand among competition?
• Which are the strongest loyalty drivers?
LoyaltyProcessing
(Purchase / Contracting)
Consideration
(Research of Options)Awareness
6

7. 1. awareness
2. familiarity
3. consideration
4. processing
5. aftersales
6. loyalty
I don’t want to know
more about …
I DON’T TRUST
The Ideal “WISH” mode –
“WHAT I AM LOOKING FOR”
I have to make my ….
I have to ask friends to share experience, I need …
I FEEL UNEASY, I DON’T UNDERSTAND …
Interactions with employees are taking my time…
I am constantly expecting some cheat …
I am aware with …
I would like to trust …
PARTNER …
If I have closer relationship with an institution I TRUST, I will keep on ...
If I receive a good feedback from …
TIME IS PRESCIOUS
I would highly appreciate if I am treated …
I want LESS INTERACTION AND
TIME TAKING PROCEDURES
I appreciate fast and CORRECT REACTION in extreme circumstances
I like SMALL GESTURES of appreciation
The Reality – “HOW I FEEL NOW”

8. A Customer’s Map of Meaning:
overall
satisfaction
contracting
process
contracting
time easiness of filling
documents
clarity of
information
time for obtaining
the product
available additional
products
number of
employees involved
transparent terms
& conditions
number of
documents
information about
changes of the terms
providing meaningful
information
access to
information
Causality: from root causes to overall satisfaction
Dictionary: How customers “translate” the attributes

9. The NPS Benchmark
All Clients Own Affluent Clients
NPS 43 20 55 49 31

10. LOGO Market Research and Consulting Ltd.
http://www.logo-mrc.com/
info@logo-mrc.com
Thank you!
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Floor 1
1527 Sofia, Bulgaria