Doorstep banking (DSB) has transformed the banking experience by providing services directly to customers locations. To ensure the effectiveness and efficiency of these services, banks must utilize a comprehensive analytics dashboard. This dashboard should track key metrics such as coverage, performance, financials, grievances, and customer segmentation.
Key Metrics for Doorstep Banking Dashboard:
1. Coverage Analytics
Coverage analytics focuses on evaluating the reach and accessibility of doorstep banking services.
• Geographical Coverage: This metric visualizes the areas where doorstep banking services are currently offered. Heatmaps can highlight underserved regions, allowing banks to plan strategic expansions.
• Customer Reach: Displays the percentage of the customer base utilizing doorstep banking services. It can be broken down by demographics, location, and service usage patterns to identify gaps and opportunities for growth.
• Service Availability: Tracks the range of services available through doorstep banking in different regions, ensuring that popular and essential services are readily accessible.
2. Performance Analytics
Performance analytics measures the efficiency and effectiveness of the doorstep banking operations.
• Response Time: Shows the average time taken to respond to service requests. Lower response times typically indicate better service efficiency.
• Service Completion Rate: Measures the percentage of service requests completed successfully on the first attempt. Higher completion rates reflect effective and efficient service delivery.
• Customer Satisfaction Score (CSAT): Collects feedback from customers regarding their satisfaction with the services provided. High CSAT scores indicate positive customer experiences.
3. Financial Analytics
Financial analytics evaluates the economic impact and profitability of doorstep banking services.
• Cost per Service: Calculates the average cost incurred to deliver each service. This helps in identifying cost-saving opportunities and improving operational efficiency.
• Revenue Generation: Tracks the total revenue generated from doorstep banking services, including fees and upsell opportunities from additional banking products.
• Return on Investment (ROI): Compares the financial benefits of doorstep banking services against the costs, providing a clear picture of their profitability.
4. Grievance Analytics
Grievance analytics focuses on identifying, analysing, and resolving customer complaints.
• Complaint Volume: Displays the total number of grievances received regarding doorstep banking services, helping to identify trends and areas needing improvement.
• Resolution Time: Tracks the average time taken to resolve customer complaints. Faster resolution times usually correlate with higher customer satisfaction.
• Grievance Categories: Categorizes complaints to pinpoint common issues such as service delays, quality of service, or agent behaviour, facilitating targeted interventions.
5. Customer Segment Analytics
Customer segment analytics helps in understanding the different customer groups using doorstep banking services.
• Demographic Segmentation: Analyses usage patterns across different demographic groups (age, gender, income level, etc.) to tailor services and marketing strategies accordingly.
• Behavioural Segmentation: Studies customer behaviours and preferences, such as frequency of service use and preferred services, to enhance personalisation and engagement.
• Churn Analysis: Identifies segments of customers who are discontinuing the use of doorstep banking services, helping to develop retention strategies.