Figuring Out Buyer Behavior 2.0
Segment:
[Young]* Adult Account Holders
*Primarily between 25 - 35, but if they are 18-24 and have an account they apply too.
[Young]* Adult Account Holders
*Primarily between 25 - 35, but if they are 18-24 and have an account they apply too.
Interviews:
After conducting the interviews, I learned that when someone wants to open a new bank account, they consider the banks with a branch closest to either their home or workplace. This is to choose the bank that best fits their needs, while still being a reasonable distance away. Some customers do care about their mobile banking experience, others see it only as a bonus. For those who already have accounts, and aren't happy with their current app, they consider going to the bank in person just to save time.
Customers' preferences may differ based on their banks. Some prefer using the app because they can do it all through it, others prefer going to the bank because their app doesn't have some features, and they don't feel like spending 10 minutes or longer trying to figure it out. This specific segment in particular is more likely to open checking accounts, with some opening savings accounts to get a head start.
Their post-purchase evaluation includes debating whether they made the right choice in bank. Some customers don't mind the specific bank, while others would have preferred other bank because of something, whether that is a better designed app, or closer distance. In this case, their post-purchase eval also involves debating whether using the app was a good idea vs going to the bank (or vice-versa), but because most people get their task done regardless, it's usually a positive evaluation.
After conducting the interviews, I learned that when someone wants to open a new bank account, they consider the banks with a branch closest to either their home or workplace. This is to choose the bank that best fits their needs, while still being a reasonable distance away. Some customers do care about their mobile banking experience, others see it only as a bonus. For those who already have accounts, and aren't happy with their current app, they consider going to the bank in person just to save time.
Customers' preferences may differ based on their banks. Some prefer using the app because they can do it all through it, others prefer going to the bank because their app doesn't have some features, and they don't feel like spending 10 minutes or longer trying to figure it out. This specific segment in particular is more likely to open checking accounts, with some opening savings accounts to get a head start.
Their post-purchase evaluation includes debating whether they made the right choice in bank. Some customers don't mind the specific bank, while others would have preferred other bank because of something, whether that is a better designed app, or closer distance. In this case, their post-purchase eval also involves debating whether using the app was a good idea vs going to the bank (or vice-versa), but because most people get their task done regardless, it's usually a positive evaluation.
Conclusion:
This segment is a mixture of everything. Depending on what task they are trying to accomplish, they may consider going to the bank instead of using the app, or vice-versa. And their task also influences their end decision. In terms of post-purchase evaluation, most of them are happy with their choices, mainly because it doesn't change the outcome.
This segment is a mixture of everything. Depending on what task they are trying to accomplish, they may consider going to the bank instead of using the app, or vice-versa. And their task also influences their end decision. In terms of post-purchase evaluation, most of them are happy with their choices, mainly because it doesn't change the outcome.
Hey Carlos,
ReplyDeleteIf I had to guess the younger crowd would be more interested in the mobile banking feature. Like you said, some people would rather just go into the bank because they do not feel like dealing with the process of mobile banking. This product isn't going to apply to everyone but I believe there is a large segment of younger people who would be very interested in your idea. Great job!
Greetings, I think very similarly to the people you interviewed. The develometn of a banking app that would replace the one consumers all ready use must be put into use with a physical bank where people would be able to take out their funds. This is a big hang up for older people who would not be comfortable with a 100% online bank.
ReplyDelete