has been named a top performing brand in digital experience, according to new research by software company SAP.
The stand out performance for one of NZ's Big Four banks meant the knock-on effects for them were better too, the report found, with the findings showing a strong correlation between the digital experience and business outcomes including customer loyalty, Net Promoter Score and consumers’ willingness to share private information.
Digital experience was defined as how a brand digitally interacts with its customers during the discovery, transaction, delivery and support of a product or service.
The report gleaned its results from 2,500 consumers who rated 6,500 digital interactions against 14 digital-experience attributes, with consumers rating security, availability and simplicity the most important.
was recognised from among 38 of New Zealand’s largest and best-known brands across eight industries, including insurance, media, retail and telecommunications. Banking was the best performing industry, achieving a digital experience score of 9 per cent. It leads the way in fostering digital engagements among New Zealand
consumers, with 92 per cent of consumers interacting with banks online.
’s Head of Digital Stephen Bowe said it’s great that SAP have taken the time to understand the impact that poor quality digital experiences can have as "digital banking has become an arms race to be the first to market with the latest new widget".
we strive to put the customer at the core of everything we do. We’re focused on creating highly personalised, engaging banking experiences that put our customers in control and help them to be good with money.”
The insurance sector as a whole came second to the banking sector in its digital experience delivery, achieving a score of 6%.
“Like banks, insurance providers have responded to tech-savvy customers by mastering the basics of the digital experience in creating functional services that are integrated, always available and personalised,” the report said.
“The next phase of deepening the customer relationship is harnessing increasing volumes of customer data to provide exciting and unique digital experiences that go beyond the current transactional offerings.”
Customers who were delighted with their digital experience were over four and a half times more likely to remain loyal to a brand than those who are unsatisfied, the study found.
The Net Promoter Score for this segment was an impressive 69%.
But business outcomes took a dramatic turn among New Zealanders who were unsatisfied with the digital experience.
The research found just 17% of consumers that were unsatisfied with the digital experience would remain loyal, while the NPS score for this segment was a staggering -54%.
The link between the digital experience and business outcomes was also apparent in the report’s examination of New Zealanders’ data privacy and personalisation preferences.
Analysis showed Kiwis who were delighted with the digital experience were more willing to share private data than those who were unsatisfied.
The results varied across different types of data:
- 40% of delighted consumers would disclose their buying preferences
- 28% their social media usage
- 25% their health records
- 21% their web browsing history
These figures fell among unsatisfied consumers: 13%, 8%, 4% and 4% respectively.
Graeme Riley, managing director, SAP New Zealand said the findings demonstrated the strong connection between the digital experience and business outcomes in New Zealand.
“The vast differences between consumer loyalty, advocacy, and willingness to share personal information highlights the urgency with which the country’s brands must prioritise improving the digital experience they deliver for their customers, and demonstrates the rewards available to those that do.”