Context
Community Savings Credit Union is a well-established financial institution. With over 30,000 members and managing assets worth $800 million, Community Savings plays a significant role in supporting both local unions and individuals within the community with a variety of banking products and services.
Overview
1. Problem
Following a disappointing marketing campaign, the management started to question the effectiveness of the assets used. They wanted to figure out what went wrong and make improvements so they could try again later with better chances of success.
2. Challenge
Given that the mortgage campaign had failed, we were tasked with the challenge of identifying and developing digital assets to relaunch the same campaign within a few weeks.
3. Research
After conducting initial landscape research and user interviews, we discovered that users were not appreciating the performance of the landing page and calculator.
4. Development
We used feedback to create and test a prototype. Encouraged by positive responses, we developed a custom landing page and calculator to address initial issues.
5. Outcome
The campaign was relaunched four weeks later and surpassed all expectations by generating over $50 million in mortgage loans in less than five weeks.
Assets
Initial Calculator
According to our research users were overwhelmed at first glance. Users were curious but unfamiliar with terms like "amortization period". After inputting their information, users were confused about where to find the button to proceed.
New Calculator
We reduced the number of fields to simplify the process and gave it a more user-friendly look. We made the calculator a lead capture tool, enabling our staff to support users along their journey.
Initial Calculator Result
Results were often overlooked by users who didn't notice this section on the page. Users struggled to understand how to proceed or utilize the information provided
New Calculator Result
The usability test revealed that users could easily find the information at first glance, and they appreciated the option to proceed if interested. Followed by a fully online mortgage approval process, enabling users to complete everything digitally.
Initial Performance
The analytics reinforced the initial discoveries around low speed performance. One other indicator that caught my attention was the "Bounce rate," which measures the percentage of visitors who leave a website without any interaction. The company's overall bounce rate was higher than the industry average, and this page had a significantly higher bounce rate compared to others.
New Performance
The new custom-coded page performed much better, particularly in terms of speed, which was a problem highlighted by feedback initially. The bounce rate was reduced by 50%, indicating a significant improvement in how users engage with the website and its overall performance.
Initial Mortgage Page
Similar to what we found before, users on this page also struggled to find the information they wanted. The detailed sections, like rates, overwhelmed users who weren't at that stage yet.
New Mortgage Page
Users could find information faster on the new design, and they found the overall experience much better. The feedback was overwhelmingly positive, with many users expressing their preference for the new design over the old one.