Is the naked “Apply” button choking your OAO performance?
The plan for overcoming common challenges of online account opening
So, your customer finds a banking product or service they think might be a good fit for them on your bank’s website, but they are not sure. They have read the information that is available, and the next step is to complete an application. And there it is on the website product page: the naked “Apply” button, your customer’s start into an unknown process to get to an unknown result. The uncertainty and inhibitions about starting and completing the application process lead applicants to abandon the process about 90% of the time. How can this be fixed?
It is often said that this “customer journey” begins at the “apply” button, and OAO vendors spend a great amount of time and effort to create a “frictionless customer experience” after the button is pushed. However, the customer journey actually starts at the moment of customer engagement long before the customer gets to the apply button. In order to overcome the challenges of achieving great OAO performance, the customer must be engaged from the moment of interest to the point of application in a way that makes them feel confident and secure they are making the right decision and provides the level of enthusiasm needed to complete the application process.
Addressing Common Challenges
Here are the secrets to overcoming the four most common challenges to achieving great OAO performance:
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