eVOC Insights has conducted two waves of syndicated research, evaluating 10 websites per industry, to ascertain the leaders in brand affinity, user experience, and future call-to-action. For each wave, eVOC Insights recruited 1000 respondents for a given industry to evaluate a site’s usability from basic navigation, to researching products, to completing an online product application. In banking, the brands surveyed included BB&T, Chase, Citibank, Citizens, PNC, Suntrust, TD Bank, US Bank, & Wells Fargo, while for auto insurance 21st Century, Allstate, Esurance, Farmers, Geico, Liberty Mutual, Nationwide, Progressive, State Farm, & Travelers were included.
To assess ease of use for the online application, respondents were asked the following questions:
BB&T tops the ranks for having the most satisfying and easy to complete online bank account application, significantly out performing all 9 other banks for satisfaction and the bottom 5 banks for ease of use. A clear and simple step-by-step application drives BB&T’s number one position for likelihood to return to the site and open an account.
EASIEST ACCOUNT APPLICATION
“I loved the feeling of security. It asked me personalized questions to make sure it was truly me. I also liked that it gave me an incentive for opening, and it was very simple.”
MOST DIFFICULT ACCOUNT APPLICATION
“Several pages were open before you got to the actual application.”
“All of the information was tedious.”
Geico has the easiest and most satisfying online quote application, primarily due to the quickness of the application process. Prospects particularly like that they do not have to give their SSN and that their vehicle information was automatically filled in from the DMV. Being able to customize coverage options after the initial quote also drives high customer satisfaction.
EASIEST QUOTE APPLICATION
MOST DIFFICULT QUOTE APPLICATION
“Quotes should be offered on generic terms to see if they are in the ballpark and if they are in the ballpark then you get down to specifics such as drivers license and social security numbers.”
Best Practices for an Online Application include:
The best online applications stand out from their competitors as being quick and simple. Users prefer clear step-by-step instructions that highlight their current progress and inform them of what is required versus optional. Sites that require minimal personal information and do not ask for a SSN are particularly appealing and motivate high intent to return.