Feefo CMO Kerry Leighton-Bailey sat down with Kate Neil, Marketing Manager at Auto Trader, and Michael Sherwood, Head of Brand and Experience at Atom Bank. The conversation centred around the power of advocacy, and how businesses can use word-of-mouth to expand their reach. This Q&A session was recorded at the Feefo Advocacy and Reviews live webinar, and the following transcript was subsequently edited for clarity.
If you'd like to watch the full webinar, head on over to our "Advocacy and Reviews" webinar page.
Kerry Leighton-Bailey:
We have Kate and Michael here with us – welcome to you both. First and foremost, I’d like to talk about the customer experience. How has the customer journey evolved in each of your industries, and where does advocacy fit in?
Kate Neil:
Thank you, Kerry and Feefo, for having us. So, the car-buying industry is becoming more digital, and with that, there’s more choice than ever before. In recent research we conducted, 70% of people like the idea of buying a car online, and only 6% of people are dealer-first. What’s happening is, people decide on the type of car they want, and then they narrow it down by choosing the retailer. That’s where reviews come in – they’re a pivotal part of people’s online research. At Auto Trader, we believe in trusting the seller, trusting the vehicle, and trusting the price. That's why we put so much emphasis on listening to the customer, and we encourage our retailers to build their reputation through reviews.
Kerry Leighton-Bailey:
That’s fascinating, thank you Kate. Michael, I imagine the picture is slightly different for you in the financial services industry?
Michael Sherwood:
Yes. So, I think the best place to start is talking about why Atom Bank exists in the first place. We were the first app-only bank in the UK, founded to make banking fast, simple and effortless. If you've got a great service and you deliver on your promises, then people will tell other people about you – and that's the way Atom Bank operates. We've got a Voice of the Customer Programme that looks at every single interaction with the customer – contact centres, complaints, ratings and reviews, verbatim comments, NPS post purchase, even what’s going on in the App Store. We suck all that information into an AI engine, which tells us what’s going well and where we might want to improve. Then we take that information and feed it into our Change Programme, and the whole thing operates on a virtuous circle.
Kerry Leighton-Bailey:
Lovely, thank you. Kate I know Autotrader is slightly different in that you work with partners. How do you encourage them to embrace the benefits of advocacy, and what about negative feedback?
Kate Neil:
Our partners are our car dealers, and their performance is our number one priority. That’s why we place such a big focus on reviews and making them part of the day-to-day. We educate a lot around keeping reviews fresh, because people want to see what a business is like here and now, not what it was like three years ago. We talk a lot about negative reviews as well. Often, people filter for one-star reviews to see how a dealer has handled something. It’s actually positive if they see a dealer has resolved an issue, because they know they can get help if something goes wrong with their purchase. There's nothing wrong with the occasional negative review – if anything, I’d say it can be beneficial, and we try to communicate that to our partners.
Kerry Leighton-Bailey:
Lovely. So let's have a chat about how we think advocacy is likely to evolve in 2024 and beyond. Michael, where would you like to start with that?
Michael Sherwood:
I think customers are more savvy than they've ever been. They want more certainty, they want to be treated well, they won't be ripped off – and that's going to continue. The competition is broader and better than it's ever been. You’ve got tech start-ups taking on incumbents, companies like Atom Bank that are digitally native and offer an effortless experience. Those that have relied on inertia in the past, or maybe take their customers for granted – they’re going to have to change their ways.
Kerry Leighton-Bailey:
Absolutely. Is anything you wanted to add, Kate?
Kate Neil:
So I've already touched on it, but in the car-buying industry a lot of consumers want to do more of their journey online. I think a lot of other industries can relate to that as well. That’s why means reviews are at the forefront. People have so much information at their fingertips, and reviews are pivotal in their decision-making process.
Kerry Leighton-Bailey:
Okay, wonderful. So moving back to your current advocacy strategies. How do you ingrain advocacy into your culture and engage teams outside of marketing?
Michael Sherwood:
Communicating how you're performing is absolutely key. We’ve got monthly updates on how the business is performing from the customer's point of view. We share anecdotal feedback to bring reviews to life. We share the Customer Goodwill Score, which is an aggregate summary of all our customer satisfaction measures. Essentially, it’s all about making the results really easy for our teams to understand.
Kerry Leighton-Bailey:
Right. And do you have any internal programmes that you run? How do you get your people to take on that customer-first mindset?
Michael Sherwood:
It really is about the system. The people we recruit want to do right by the customer, and that’s why we bring them on board. They want to work for a customer-focussed bank that gives them everything they need to deliver value. That’s why they come to Atom. We also tend to go for people who will challenge the status quo – I think that’s essential for a digitally native business like ours.
Kerry Leighton-Bailey:
Thank you, Michael. Let’s move on to keeping the momentum when it comes to reviews, and making sure they come in regularly. How do you support your partners with that, Kate?
Kate Neil:
We give out Highly Rated Awards which are reviewed annually – so partners need to generate a constant stream of positive feedback if they want to keep winning. It’s a great incentive for dealers to get on top of reviews, because the award can really help them stand out. And it’s fabulous from the consumer’s perspective as well, because they can see we've put our stamp of approval against a dealer. Seeing a four- or five-star rating is one thing – but when a dealer has a recent accolade, it takes things a step further in proving how excellent they are.
Kerry Leighton-Bailey:
That concept sounds similar to our Trusted Service Awards at Feefo. So far, we’ve talked a lot about advocacy through the lens of the consumer. Let’s look at things from the B2B perspective now. For businesses marketing to other businesses, I’d say success hinges on using the experiences of your clients to win over prospective buyers. At Feefo, we’re big on using case studies to show the value clients get from our platform. We break things down by different cohorts of clients as well, depending on the size of the business or the sector they're in. Do you have any views on that, Kate?
Kate Neil:
Yes, so lots of what I’ve said today comes from the B2B perspective too – or B2B2C, I’d say. Obviously at Auto Trader we work directly with car dealers. For us, it’s about helping them provide the best possible service to the end consumer, and educating them about how reviews can help them grow.
Kerry Leighton-Bailey:
Michael, did you have anything do add?
Michael Sherwood:
Yes, just one final thing. So obviously we're a new challenger brand. Lots of our prospective customers might not really know about us – or if they do, they might be unsure about crossing the digital bridge, if you will. And that's why we put reviews on the website and in our app. They make people feel confident to bank online, and give them the extra encouragement they need to trust us.
Kerry Leighton-Bailey:
Yes, trust is so key for all businesses, especially those that are newer or digitally native. We’re coming towards the end of our time, and it’s been such a pleasure speaking to you both. I just have one last question around how social media can enhance advocacy, and the difference approaches depending on platforms. Michael, do you want to kick us off with that one? Do you have different approaches?
Michael Sherwood:
We do. Naturally, you have a different audience on LinkedIn than you do on Facebook or Instagram, for example. As I said earlier, our core message at Atom Bank is that we offer better value and make banking faster and easier. But that message translates slightly differently depending on the channel and the audience there.
Kerry Leighton-Bailey:
And how about you Kate, do you encourage your partners to use social media?
Kate Neil:
Absolutely. In the car buying industry, we use all the channels. As you said Michael, Instagram has a different purpose to LinkedIn, which is obviously a more professional network. For our dealers, it’s about thinking about who you’re targeting through each platform, and tailoring your message as much as possible.
Kerry Leighton-Bailey:
Thank you, Kate and Michael. This has been super insightful, and I'm sure lots of our listeners today have already started thinking about advocacy and how they can weave it into their customer experience strategy going forward. It’s been such a pleasure to have you.
