They’re not bright, colourful, fancy or loud. They rarely get to go to glitzy award ceremonies. And they’re never first in line when the budgets are handed out.

But every Financial Services (FS) marketing department has them. And in our experience they can make up around 80% of what your customers see from your brand.

Mandatory and Regulatory communications are the Cinderella of Financial Services marketing. Hiding away in a dusty corner, under the shadow of their higher profile big sister (discretionary marketing).

An unloved and overlooked underdog (think how your customers feel!)

We know these communications are tricky. We’re not denying that. 

They are expensive and a great deal of hard work. They need to communicate complex changes, bad news and mundane details to apathetic customers. And their effectiveness can be hampered by a lot of internal ambiguity, numerous stakeholders and a hard stop on the deadline (just don’t mention pumpkins). 

Yet these communications are crucial to the everyday experience of your brand. It’s these letters and emails (about changes to terms and conditions, fee increases, and bank errors) that customers remember when it comes to deciding on whether to take a new product or service from you, or switch to a shinier, sexier competitor (such as rapidly growing challenger banks like Monzo and Starling). 

This is the place where customer loyalty is won or lost. 

We strongly believe it’s time for these communications to be let out of the proverbial cellar, and put into the spotlight. Like Cinderella, they are destined for much greater things. 

A succession of external factors like GDPR, digitisation of services, and branch closures has meant that direct interactions between the customer and the brand are becoming less frequent. Therefore, mandatory communications have become an increasingly important brand touchpoint, perhaps second only to mobile apps. 

They ought, then, to be tailored to fit each individual customer’s needs as perfectly as a custom-made glass slipper. 

In reality, our research has shown that the bulk of what lands on the doormat is in fact a very poor fit for each individual customer. The communications we’ve reviewed tend to lack any of the same attention to best practice that you would typically see with discretionary marketing communications. 

And there will be hundreds of millions of them being sent to customers every year. Which means that timely, accurate and personalised delivery is a surefire way to secure a competitive advantage for your brand.

Financial Services brands could be missing out on millions

Of course, we understand that improving M&R communications is not as simple as waving a magic wand. 

That said, we believe there are very good reasons to tackle those challenges head-on in a way that reduces, rather than adds to the complexity involved.

For one thing, it’s not just the customer experience that suffers. UK Banks and Building Societies are throwing away millions of pounds each year on under-optimised M&R activity. 

Whether it’s high print and postage costs due to poorly constructed messaging; sending multiple communications to customers when one would suffice; perceived inability to use digital channels as the default medium; or the high costs of telephony support to customers that are concerned (or just confused) about what the latest letter actually means. 

The status quo is high on waste, low on efficiency, and few are pleased with the outcome. Surely that’s a good reason to recognise the hidden value in your M&R communications and elevate them to a starring role.

Thankfully, there are some proven tools for optimising these communications (that don’t awkwardly expire at midnight).

Behavioural economics holds the clues to radically better content design, with improved wording and layouts that take people’s natural psychological biases into account. And better content design in M&R comms means less printing and more informed, more confident customers, who go on to make better financial decisions. They also place fewer “what the hell is this?” calls to call centres. Better CX and lower costs. Win-win.

Channel choice. Some customers prefer to get comms through email, but many banks are still using print as the dominant channel for M&R comms. The requirement for a ‘durable medium’ is enforced by the FCA, but this needn’t rule out using email as the primary channel (albeit it helps to have automated bouncebacks in place like we do for our major clients).

One message per customer. With a UK average of 1.2 current accounts per customer, and that data potentially being held in multiple sources, it’s easy to see why banks might take the less risky route and send one message per account (rather than one message per customer). But with smart data aggregation in place, the process of removing duplicate messages and sending one message per customer can cut 20% of the total production cost of the project.

Smoother processes. The number of people and teams involved in M&R activity can lead to rushed processes, full of errors, rework, and frustrated staff. Yet, the risk of making changes to established processes (however painful and inefficient they might be) can be daunting for senior management and leads to inertia. By introducing a collaborative planning approach, we get client teams together early - across disciplines – to define the critical path for each project and prioritise the customer experience. This aligns the vision, clarifies the capabilities across data and content, allows for leaner production, and allows for change while also reducing risk. 

Ok, so maybe we’re stretching the Cinderella analogy to breaking point. We may not be able to guarantee a fairytale happy ending, but we can make a real impact that benefits both your brand and customer.

By using a truly behavioural approach to content and design, as well as changing the way data and content are processed, we’ve been able to help our Financial Services clients create millions of communications that deliver the right information, to the right customer in the most engaging way possible.

Better financial decision making and understanding for customers, which means happy regulators, increased customer loyalty and significant cost savings. As well as an invitation to every (award) ball. 

To find out more about how we can help you improve your customers' experience at every touchpoint, get in touch. 

The ‘Cinderella Syndrome’ that could be costing FS firms millions

Mandatory & Regulatory communications are often unloved & overlooked in financial marketing. However it's time for them to be put into the spotlight. 

Mandatory & Regulatory communications are often unloved & overlooked in financial services marketing. However it's time for these communications to be put into the spotlight. 

The ‘Cinderella Syndrome’ that could be costing FS firms millions | Signal Blog 

Mandatory & Regulatory communications are often unloved & overlooked in financial services marketing. However it's time for these communications to be put into the spotlight.

The ‘Cinderella Syndrome’ that could be costing FS firms millions | Signal Blog

Carefully visualised data can be a joy to engage with. Even a basic bar chart provides our minds with the opportunity to explore and examine information in a way that words alone can’t. 

There is great pleasure to be found, and new truths to be discovered in thoughtful combinations of patterns, colours, shapes, sizes, words and numbers. Indeed, their message can often feel more powerful because we are uncovering the information ourselves. 

And with time being such a precious resource for all of us, a well designed visualisation that gives us powerful new insights in seconds can feel like a much desired shortcut.

Such power and pleasure is what lies behind the work of data-journalist and information designer David McCandless. Quite a few of us at Signal are fans of David’s, so we jumped at the chance to attend his recent workshop dedicated to conceptualising and producing data visualisation. 

He took us through his process; from the importance of finding a strong initial question to build the research on, to choosing the correct format, and techniques for visually encoding and representing the information.

In following such a process, stories can often be told in a way that words alone may have to explain. McCandless’ ‘Billion Dollar Gram’ is a great example of this: 

Beyond a certain threshold, big numbers can become impossible to grasp. But a simple visual treatment can provide a wider context that puts each figure into proportion, helping us draw comparisons and create our own stories and meanings. Most strikingly, contrasting colours help highlight startling discrepancies between what we spend on war, the environment and foreign aid. 

 But care needs to be taken. When encoding information with visual techniques, detail can be glossed over due to misleading design decisions. Even more worryingly, we can be persuaded by statistics of questionable origin. As Giorgia Lupi explains in her TED talk, oversimplified data led to an inaccurate reflection of the voters intentions in the 2016 US presidential elections, giving a false impression of public feeling. Data is not infallible, and its interpretation needs to take into account any imperfections and be sensitive to human nuance. 

Similarly, designers and data journalists need to check their allegiances, particularly when formulating visualisations which are more language based, such this depiction of the political left and right, also by David McCandless:

At the workshop McCandless spoke about needing to check and recheck his language in this piece. He was well aware that his own political and ideological opinions could influence his reporting, and the way he was positing the two ends of this spectrum against each other.

The same tension can also arise when trying to balance the need to tell an accurate story and an engaging one. At either end of this spectrum there are different types of associated representations. 

For instance, a bar chart can be seen as a solidly objective and rigorous method of encoding information, whereas a less structured infographic can incorporate many aspects of visual communication and is open to flair and editorial artistry. Both, however, are valid players in the information design world.

I was inspired by the workshop to put together my own visualisation exploring the spectrum of choices that are apparent when designing information:

Designing information - data visualisation by Jen Lyle, Cello Signal - full size.jpg

Download full-size 'Designing Information' image

Thinking about data visualisation in this way highlights the need to choose visual techniques which align with our overall intention. Interestingly for the digital space, by incorporating interaction and allowing the user to take control, a good balance is naturally found between the need to engage and present the facts.

By introducing filters and enabling the data as a navigable entity, stories can become personal to individual interest. You may not have seen all the films listed in McCandless's analysis of ‘true story’ films, but you can change the results according to what’s of interest to you.

In its many varied forms, data-vis can can be a great content ally in this attention-zapped, noisy world. It can cut straight to the heart of your message and compel your reader to think and feel differently, and even prompt them to take action in response. And  we are always on the lookout for opportunities to encourage these kind of 'aha moments' for our clients and their audiences.

Do you need a new perspective on a complex challenge? Get in touch if you'd like to chat about how we can help.

How data visualisation can help brands communicate better

Data visualisation can can be a great content ally in this attention-zapped, noisy world.

Data visualisation can can be a great content ally in this attention-zapped, noisy world. It can cut to the heart of your brand's message and compel your audience to respond.

Google have just released an updated version of their Search Quality Rater Guidelines. The changes will impact all publishers but are particularly relevant for bloggers, because it emphasises the importance of a strong personal brand.

The principal takeaway is that Google are now paying even more attention to reputation.

Previously this related to a website’s overall credibility, but now Google will also consider the reputation of the blog’s primary author as well as their guest contributors. In essence, Google wants to see high quality, useful content from credible authors.


What are these guidelines and why are they so important?

First, let’s clarify what exactly the Google Search Quality Guidelines are. They’re a lengthy set of guidelines (over 160 pages), that instruct Google’s search quality evaluators how to assess the quality of Google’s search results. 

Raters can’t immediately cause negative SEO effects to any page they review, but their work does impact Google’s algorithm updates, so they have a lot of influence.

It’s crucial then, that bloggers have full awareness and understanding of the guidelines so they can optimise their site effectively and remain in Google’s good graces.

We’ve gone through the whole document in detail - yes, all 164 pages of it - so you don’t have to. Below are our seven key takeaways, including actionable tips that you can start to implement straight away on your blog, to ensure it stands up to Google’s rigorous evaluation. 

The most prominent change is that raters will now be looking into the reputation of the content creator themselves, rather than just the reputation of the website.

Google has changed the section called “Reputation Research” to “Research on the Reputation of the Website or Creator of the Main Content.” They will be looking for each content creator’s name and/or alias and biographical data. To optimise for this:

Make sure that all contributors have a good reputation - If you accept guest posts or submissions, it is now your responsibility to pay close attention to the credibility of all contributors and the content they provide. 

Feature author information and author bios for all the writers on your site - Even if you do not currently use bylines for content, you will now need to. If there is no information about the content creator, your website will be rated Lowest. Be transparent, Google will thank you for it!

Guest post as often as you can - Writing for other people’s blogs will help to build your reputation, authority, trust and connections and expand your online influence. Just make sure that the blogs you contribute to are relevant to your own niche. 

Refresh your social media profiles - Ensure that all your social media profiles are up-to-date and contain relevant and professional information. Check that potential content contributors have a good social media presence and make sure that you link to their social media profiles in the author bios on your site. 

2. Each page must have a beneficial purpose

Google has now specified that all pages should have a “beneficial purpose.” For the first time, both the quality of the content and whether it has a beneficial purpose will be rated. If there is no beneficial purpose then pages will receive the lowest rating. However, as long as a page was created to help others, they will not consider any particular purpose or type to be higher quality than another. To make sure your blog demonstrates this:

Identify and focus on what the beneficial purpose of your page is - Consider what the value is to people and why they should visit your page. Essentially, what benefit do they get out of it? Be helpful and have purpose in mind.

Find the right balance of time and effort - Running a blog isn’t easy and we know that bloggers can feel the strain of too much work and not enough time. Convertkit’s State of the Blogging Industry 2017 Report found that most bloggers struggle to keep up with their publishing calendar and don’t publish as often as they intend to. However, Google will mark content down as low quality if it’s not created with adequate time, effort, expertise or skill. So it’s important to find the balance between quality of content and the time spent on it, as well as the frequency of publishing. Make sure you put enough effort into editorials in particular- these posts are the ones that Google’s Quality Raters will judge you on. 

3. Editorial guidelines must be easily accessible

Google want sites to have “active editorial standards." So bloggers should:

Publish editorial guidelines  - This can help establish consistency and higher quality control. They will help you streamline your blog's writing, topics and tone of voice and consequently boost your reputation and readership.

Feature them prominently on your site so that potential contributors know exactly what to expect. Don’t forget to include the main objective or mission of the blog so that it provides context to those less familiar with the site. Why does your blog exist It’s also essential to ensure your readers can easily distinguish between editorials and advertorials - more on this below.

4. Sensationalised titles will be penalised

Google has stated that “exaggerated or shocking titles can entice users to click on pages in search results. If pages do not live up to the exaggerated or shocking title or images, the experience leaves users feeling surprised and confused.” Therefore, bloggers should:

Refrain from using sensationalised headlines that oversell and underdeliver -  Sensationalised clickbait headlines that oversell the content and don’t deliver are considered deceptive. Make sure your title is backed up by the content and avoid exaggeration. Don’t let your blog become known for tabloid style headlines that are designed to gather attention and lure visitors into clicking a link. Of course you will want to use strong headlines that get people’s attention, but authenticity is also important.

But appreciate the value of truly ‘sensational’ content - Google will penalise sites that have duplicate content, so make sure the content that you produce and publish is original, high quality and provides real value to your readers. If you do have news or content that is truly sensational  (but not sensationalised), you’ll be in a great position, as you can write a blog post that lives up to the promise of an exciting headline. For example, exclusive news, and original research. If you can write about something first, or that no-one else has covered yet, you have content that supports interesting and exciting blog titles and is more likely to be talked about by others.

5. Pay attention to accuracy and credibility of sources

Google has asked their raters to pay careful attention to websites that allow users to publish content “with little oversight.” Here again, the onus is on the site owner to ensure that all the content they publish is accurate and does not misinform. Hopefully you're already doing this, but as a reminder:

Check what you publish, especially if you let people guest post - It is your responsibility to publish accurate content that is beneficial to your readers. You should aim to ensure guest contributors provide the most valuable, useful and high quality content possible, which will not only keep you in line with Google’s guidelines, but it will help to establish you as a trusted gatekeeper for your audience. 

Research what you write - You may well have seen friends falling for and sharing hoaxes on social media. If you do this on your blog then your reputation may be harmed. Stay clear from publishing content that you do not believe in in order to make money or gain attention. Conspiracy theories of all kinds are best avoided!

6. Don't interrupt the main content unnecessarily

Anything that disrupts the main content (MC), such as an ad, is considered “distracting” and will get a Low rating. Previously, to get a Low rating it had to be “highly distracting”. This applies to both ads and other popups:

 Don’t negatively impact user experience with distracting ads  - Ads that make it difficult to view the MC or distract from or interrupt will be given a Low rating. They consider a single pop-over ad with a clear and easy-to-use close button as “not terribly distracting, though it may not be a great user experience”. Difficult-to-close ads that follow page scrolls should never be used. In essence, Google wants people to be able to ignore ads on the page if they don’t want to view them. 

Think carefully about popups - “Follow me' or 'like my Facebook page' pop-ups that interrupt a reader’s experience of your blog should be avoided. We know some popups that encourage readers to take certain actions are popular in some blog niches. If you feel you have to use them then make sure they do not appear immediately when someone arrives at your site. instead use delayed or exit intent popups and make sure they are not too large. This means that they do not disrupt the visitor’s experience as much. 

There should be a clear distinction between any ads and your the main content. This also applies to links in posts or whole posts sponsored by others. To ensure transparency:

Disclose your commercial interest - If you have been given money to promote a product or service, you must let readers know that they’re being advertised to and that it is an advertorial. And it’s not only Google that will penalise you, you will also find yourself in trouble with the ASA and Trading Standards! 

Know when to nofollow links - Additionally, if you have received a free product or service in exchange for a review, you must make sure that you nofollow any links back to the person/company, disclose why you are writing the review and write original and useful content on the product. You can link back to the company site that sells the products, but you must nofollow the links. 

Be clear on the difference between advertorials or sponsored content and editorials - If you receive news that might interest your readers which you write up in your own words and with your own opinions then that is an editorial article. If you receive news that you publish in exchange for money or a freebie then this is no longer an editorial. Google will mark you up for good editorials and down for poor advertorial content.

Conclusion: Being 'Google Friendly' will boost your blog and your personal brand

As a blogger you already know that your personal brand and your reputation are your biggest assets. These guidelines prove you right. 

You must now imagine one of Google’s evaluators arriving at your site for the first time and having to decide whether your blog is representing a company or a person. If they decide you are a person they will start to research you. What will they find and will it support your reputation? Will they see that you’ve written credibly about similar topics elsewhere, and that other authors in the area mention you or that your editorial content carries gravatas? 

New visitors to your blog may also use a similar process to decide if they’ve found a reliable source of information. So ticking all the boxes when it comes to high quality content and author credibility can only be of benefit to both your blog and personal brand, as well as ensuring Google keeps sending visitors your way.

Google's new guidelines mean bloggers have to up their branding game

Bloggers' personal reputations are more important than ever, thanks to Google's new Search Quality Rater Guidelines.

Google’s new guidelines mean bloggers have to up their branding game

Google's new guidelines mean bloggers have to up their branding game | Signal Blog

https://cellosignal.com/blog/how-googles-new-guidelines-affect-bloggers

content strategy

The ‘Cinderella Syndrome’ that could be costing FS firms millions

How data visualisation can help brands communicate better

Google's new guidelines mean bloggers have to up their branding game

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