Reducing Friction: Optimizing the Loan Application Experience
by James Robert Lay on October 8, 2024
This episode of the Practical Perspective series dives into the hidden gaps and friction points in financial brand customer journeys that lead to loss of potential loans and deposits. James Robert Lay, along with Audrey Cannata, share insights from a recent website secret shopping stu …
Closing the Leadership Gap: Shaping the Future of the Financial Industry
by James Robert Lay on September 30, 2024
Most financial institutions are stuck in the present, lacking the forward-thinking leadership needed to navigate and thrive in a rapidly changing environment. Leaders within these organizations frequently find themselves overwhelmed by day-to-day operations, which restricts their abil …
The $100 Million Problem: Calculating the Financial Impact of Abandoned Applications
by James Robert Lay on September 24, 2024
In this episode of the Practical Perspectives series we share how a regional bank’s 67% abandonment rate on personal loans translates into a staggering loss of $100 million annually in interest income. The situation is further amplified by the fact that the brand is investing in paid …
Behind the Scenes: Secret Shopping Our Own Website
by James Robert Lay on September 23, 2024
After facilitating over 1200 website secret shopping studies for financial brands over the past decade, the Digital Growth Institute decided it was time to drink their own medicine. After recently launching their new website, they put out a call-to-action for industry leaders to provi …
The Website Blind Spot Benchmark Study: Results and Insights
by James Robert Lay on September 17, 2024
Let’s face it, a lot of financial institutions are really struggling to position themselves online and make the most of their digital channels. Many banks and credit unions sound more like robots with their scripted value propositions and fail to address the real issues their account …
Website Secret Shopping 101: A Guide to Uncovering Consumer Journey Blind Spots
by James Robert Lay on September 10, 2024
Many financial brand leaders are unsure where to begin when it comes to secret shopping their website and often feel intimidated by the process—if they even know what website secret shopping is. That’s why on this episode of the Practical Perspectives series, James Robert Lay and Audr …
Social Listening: Lessons from Frost Bank’s Customer Experience
by James Robert Lay on September 9, 2024
Financial institutions often struggle to manage and appropriately respond to online feedback, especially negative reviews, risking the loss of potential loyal customers. Statistics reveal that a single negative review can severely damage a brand’s reputation, requiring up to 40 positi …
Three Common Website Secret Shopping Objections Debunked
by James Robert Lay on September 4, 2024
Many financial brands may not realize that their websites could be their biggest sales blind spots due to lack of proper evaluation. Without secret shopping, banks and credit unions may not identify critical issues that could be causing them to lose out on potential loans and deposits …
The Future of Banking: Insights on Change, Learning, and Transformation
by James Robert Lay on September 3, 2024
In a rapidly changing world driven by exponential technological advancements like AI, many leaders, teams, and organizations struggle to keep pace. This creates a widening gap between linear human perception and the exponential nature of change, leading to feelings of fear, stagnation …
Why Are You Here? Challenging Leaders to Find Meaning and Motivation
by James Robert Lay on August 27, 2024
As financial brand leaders navigate the complexities of a post-COVID world, the economic shifts, and the rise of artificial intelligence, feelings of exhaustion and burnout are rampant. Leaders and team members alike are struggling to stay engaged and find fulfillment in their roles. …