Recent Study Shows How Emotion Strongly Impacts Success of Financial Services Industry Web Sites

Feb 04, 2016, 16:59 ET from Change Sciences

NEW YORK, Feb. 4, 2016 /PRNewswire/ -- Recent research released by Change Sciences finds emotion can strongly impact whether or not a customer takes action, returns, and recommends a financial services web site. The findings come from a comparison of 40 financial services sites, including traditional banks like US Bank, Wells Fargo, Chase and new players like GoBank and Simple, analyzing what people did while exploring the sites and how they felt about the experience. 

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In 2015, design research firm Change Sciences began measuring emotion. The biggest takeaway from the research is that emotion prompts action. For instance, positive emotions left people 20% more likely to recommend a site and 17% more likely to return. Additionally, people were 2.5 times more likely to take action on a site where they left with a positive feeling. Within the study, Better Money Habits, GoBank, Credit Karma ranked at the top for positive emotional connection.

Emotion has been overlooked when it comes to the financial services industry. Change Sciences co-founder Pamela Pavliscak argues that there are few things more emotional than the connection people have between their life goals and their money. "We know that our behaviors, especially when it comes to money, aren't always rational. Emotion plays a critical, and undervalued, role in our experience online. In 2016, we see emotional design becoming as important as behavioral design," explains Pavliscak.

While financial services sites have been the focus of this recent study, in 2016 Change Sciences will add healthcare, e-commerce, travel, and entertainment to the growing dataset, creating an emotional experience index of top sites. Emotion is measured by looking at several indicators for each of 4 key drivers of positive experience: autonomy, engagement, action, and attachment. The methodology combines behavioral analytics with subjective emotional reporting, and is based on previous academic and in-house research.

To learn more about what drives positive emotion in financial services web site users, visit:  http://www.slideshare.net/ChangeSciences/the-human-future-of-money

About Change Sciences
Change Sciences is a group of design researchers user experience strategists, and data scientists dedicated to understanding the impact of technology on well-being. Change Sciences has worked with hundreds of organizations in financial services, healthcare, entertainment, travel, government, e-commerce, and e-learning to create more human-friendly sites and apps.

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SOURCE Change Sciences



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