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insight 1
Students will be more willing to bank with UOB in the long-run if they were offered more positive points than non-negative points
"What will interest you in opening a bank acc?"
cash rebates and high interest rates would definitely pique my interest
hmm
hmm
free gifts would definitely pique my interest
"will fee waiver and no minimum deposit interest you?"
after conducting the personal interviews,
8 out of 10
were not interested in the current benefits of opening an account at hangout@uob
Lack of promotion on the UOB mighty app
We need to raise awareness on the other benefits that hangout@uob offers to students. At the same time, provide students with good UOB banking experience through branch engagement. TOGETHER THESE COULD FORM THE POSITIVE POINTS that make students interested to bank with uob
insight 2
Students are digital natives, but Hangout@UOB’s online presence is not effective in increasing brand awareness
average daily screen time (hours)
0 - 2
3 - 5
6 - 8
8 >
4%
30%
50%
16%
platform popularity
youtube
tiktok
telegram
54.72%
24.21%
11.01%
4.09%
3.77%
2.20%
54.72%
24.21%
11.01%
frequency of online banking usage
Awareness of hangout@uob website
Preference of banking experience
10.7% - A few times per month
3.8% - A few times per year
2.8% - Never
43.3% - Daily
39.3% - A few times per week
8.1% - Are aware
91.9% - Are not aware
15.1% - Offline Experience
84.9% - Online Experience
there is potential in being able to utilise these popular social media platforms to increase brand awareness
insight 3
Students feel that hangout@uob is aesthetically pleasing and inviting but they do not see a need to use the services provided at the branch
Based on our quickshot survey, 55% of our respondents are interested to enter the branch
However, through the responses, many did not see the need to go inside
i do not see the need to enter the branch
hmm
insight 4
One time events attract students temporarily, but it is not effective in retaining long-term relationships with the students.
81.4% said that they have heard of hangout@uob
86.2% of the respondents said that they do not have a UOB account
taken from the survey (274 respondents)
Not only was this number low, but it was not successful in retaining long term relationships with the customers, as many of them did not come back to the branch
out of the 200 people that attended the 3-day GRAND OPENING, 83 accounts were opened.
83
200
|
we would have to come up with a recurring event that will entice students to come back
what is the actual problem?
There is a weak brand attachment between hangout@uob and SP students. A stronger banking relationship has to be established with SP students to ensure they bank with UOB in the long-run.
hangout@Uob
students@sp
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