For the last few weeks we have been capturing data on retirement and investing web sites. One of the things this research looks at is what we call site "first impressions". What we're trying to simulate is the first few seconds of a user's impression of a site. First impressions are related to bounce rate. When first impressions are poor, bounce rate is likely to be higher.
We know from our work in the lab that when people land on services sites they are looking for answers to two basic questions.
- What can this organization do for me?
- How does this organization treat its customers?
The Face-Off
Schwab and Ameriprise compete for similar customers. And their home pages are similar in a number of ways. At the time of capture a week or so ago, both featured statements by company representatives about the debt ceiling crisis. They both featured a branch locator and toll free numbers in the right column, signaling that they put a priority on having people get in touch with them (something that is not true of all retirement web sites, by the way). This is where the similarities end.
Let's take a look at Schwab first.
The Schwab page lacks a clear message about what Schwab is all about. Schwab is... well, Charles Schwab. You know that Schwab is about high quality service and low fees, right? Maybe. Taking chances on a value proposition is never a good thing.
Directly under the feature about the debt ceiling, a lot of real estate is devoted to two features. The first feature suggests that people get in touch with their local branch if they are looking for "guidance", which we think has the (probably unintended) connotation that Schwab doesn't intend the website itself to provide guidance. You need to go to a branch for that.
The second feature promotes a cell phone giveaway for people who are willing to open an account with $75,000 or more. People always like freebies, sure, but not everyone visiting the Schwab homepage is ready to apply. This important real estate might be put to better use to help Schwab communicate what it is all about.
The page is also in need of a visual design update. For one, it docks left, contrary to the current fashion of floating content in the center of the viewport. This gives it a dated feel.
Let's take a look at Ameriprise.
Ameriprise is more clear about the value it provides to its customers. It has a tagline "More within Reach" which sums up the message "quality service at a low cost" in just three words. It also has a brief description of how it sees itself: "America's leader in financial planning". So far so good.
Below its feature on the debt ceiling, it provides a few more cues to what it calls "insights". Fine. But directly underneath this, it provides a very prominent link to its Facebook page--a very unusual practice in financial services. (Facebook pages for FS firms are now more common, but featuring them so prominently on the home page isn't.)
This addresses another one of our user requirements squarely: show me how I might be treated if I am a customer. People can simply follow the link to Ameriprise's wall and get a quick read on the frequency of complaints.
To be fair, Schwab satisfies our requirement for showing how it treats its customers by providing a link on its home page to what it calls "client reviews" (Screenshot Annotation 1). Although it certainly could be made more prominent, the link leads to a series of verbatim excerpts from an internal client satisfaction survey. And Schwab has a Facebook page, but it is in the footer (Screenshot Annotation 2), where it is much less likely to be noticed.
Directly below its cue to its Facebook page, Ameriprise provides three excellent prompts (Screenshot Annotation 3) for prospects seeking to understand how it does its work. It showcases its advisors and its approach to financial planning. There is one problem: The first two items lead to the same place, which is somewhat sloppy interaction design.
The Winner
Ameriprise is our clear face-off winner. It communicates what it is about as a company. By featuring its Facebook page, it makes it clear that it is comfortable showing how customers have experienced it. Its page layout is better. By not featuring current offers (like Schwab's cell phone promotion) it is more likely that key messages will have an impact above the fold. And its visual design is more up-to-date. The page floats center, rather than docking left.
There is much more to say about these two pages (and what happens after the home page) on these two sites. For our full take on retirement and investing sites, look for our all new Retirement and Investing Web Sites 2011 report which is due out in September.
Update 9/6/2011: This research has been released. More information is available here.