13 June, 2016
In the last few years, banks have been trying to improve their relationship with customers and gain their loyalty and trust back.
Nowadays, they need to know their clients more personally and deliver a service that meet their high expectations. Then, the only way to do that profitably and cost effectively is to gather, integrate and analyze the huge amounts of customer data they have. Another important fact is that “virtual banking” is exponentially growing and customers use on-line and mobile applications to access a lot of the banking services. For this reason, we go to branches for specially important operations such as opening new accounts, dealing with serious account problems or making big transactions. Then, it makes sense to both monitor data from on-line activity, but also, analyze everything that happens in physical branches.
We have to highlight that banks need to collect certain data because the law says so. However, a lot of them use solutions to know further information about their clients and serve them better, provide tools to different departments to make optimal and innovative decisions, and drive new revenue opportunities. Moreover, using Big Data analytics, banks are able to understand aspects of the customer relationship that they couldn’t previously grasp.
So, understanding customers is key to growth in banking, and big data is fundamental to understand them accross channels. From their behaviour on-line, to atms’ usage, their use of the banks’ mobile app or their behaviour in the branch. And Counterest takes part in providing data to banks in order to understand the latter; how many customers and employees are in each branch at the moment? And during the week, how do customers’ visits distribute? Which branches have a higher exterior traffic? What is the bounce rate in branches’ lines?
All this questions can be solved with our visitor analytics tool and we think it’s interesting to tell you some of the indicators and functionalities we provide to banks:
– Real time occupancy of each branch
– Real time influx of people and its evolution over time
– Length of visits
– Waiting time in lines
– Recurrent visits
– Rate of visits to pedestrian traffic
– Rate of effective operations to all visits
– Rate of visits per employee
– Manage queuing and spaces in function of the occupancy
– Distribution of visitors in the branch / heatmap
– Staff scheduling
– Exhibition evaluation
– Campaign evaluation
– Branches ranking according to a variety of indicators
Besides understanding the customer, people counting and visitor analytics also benefit banks to objectively demonstrate the profitability of each branch and its a way to build up their competitiveness. They are able to improve their staff allocation, they can save energy by adapting lighting systems and air conditioning to real time occupancy, measure if a specific promotion or event brings more people to the branch, etc.
To conclude we can say that nowadays, banks have more visibility of their branches and the tools to comprehend how consumer behaviour effects each branch. Having a modern, more efficient structure, they are able to take objective data-driven decisions and at the same time, deliver services that are integrated and suitable.