Experian, known for their vast variety of products and services, wanted to enhance their customer experience for their credit report service. This desire arose from an apparent need to better help customers understand their reports, so that they’re more educated about their scores going forward and more satisfied with the service overall. In an effort to lift customer satisfaction and increase digital engagement, the credit reporting bureau partnered with SundaySky to educate and guide their customers using the power of personalized video.
SundaySky SmartVideo enables Experian to walk their customers through the intricacies of their comprehensive reports, while simultaneously offering advice on how to ensure they are maintaining a healthy credit score. Throughout the personalized credit report video, customers are also encouraged either to upgrade to a premium account or to use the mobile app, if they are already a premium account holder.
Experian worked with SundaySky on developing a completely new customer experience, within SmartVideo delivery, in which the video autoplays on the customer’s initial visit to his or her account portal. The thought-process behind this is that by inserting the video organically into the experience of simply logging into the account it creates an all-around more seamless and enjoyable viewing experience starting from before the video even begins. After the initial view, the video becomes available within the portal for future viewings signified by a personalized thumbnail that prompts the user to watch their video anytime they’d like.
The actual video experience itself is exceedingly data-rich with both subtle and overt personalization throughout. Since credit reports are naturally full of information there are numerous overt data points shared and explained to the user, including their payment behaviors, the length of their credit history, their credit utilization, and the number of hard inquiries they currently have. On the other hand, SundaySky’s SmartVideo technology allows the experience to also include more subtle personalization, such as offering next-best actions according to the customer’s current membership type, displaying mobile app download CTA buttons in accordance with the device the customer is visiting from, and the gritty details of the more overt information given (like the bank their oldest credit line is with and the date that account was open).
The data-rich and personalized experience helps the customer better understand each piece of information while also offering relevant advice on how to use that information going forward.
Experian’s free credit report experience has become known as one of the more accessible credit report experiences in the market today. By adding personalized video into the experience they are hoping to increase overall digital engagement, lift customer satisfaction, increase subscription upgrades as well as life-time value, and decrease subscription cancellations. The auto-play aspect of the experience is meant to remove a step in the viewing process and to lift overall video engagement. In preliminary deployment, the video performance is proving to successfully reach this goal with views quickly increasing, click-through rates performing tremendously, and even survey submissions doing well. Furthermore, the brand has seen a significant outpour of positive sentiments from customers by way of these online surveys, with comments such as:
“Continue delivering personalized credit reports and suggestions on how to improve my credit score, please.”
“The video is very understandable, it helps me to better understand certain things I otherwise would have trouble with on my own.”
By incorporating a personalized credit report video into their experience, Experian has ensured higher engagement rates and, hopefully, can ultimately drive the key desired actions of increased subscription upgrades, higher satisfaction, and greater lifetime value per customer. Testing new customer experience use cases with clients is something that we at SundaySky are very enthusiastic about. If you haven’t already, head on over to check out our dynamic live-action footage use case and make sure to follow the blog for updates on other new innovations!