*names have been changed for privacy reasons
The next part of our series is a very interesting story on how small tweaks can actually bring you big results. Read on!
Kim was at work earlier than usual. His boss had called the previous evening about the low numbers and traction their latest credit card application form was getting and wanted Kim to fix it ASAP. And the tone of her voice was not exactly, pleasant
Kim’s first thought was – Why is she calling Marketing if she was not happy with the conversion numbers on a form? Sigh. I mean, wasn’t that the sales team’s mandate? While Kim was resisting externally, he knew that sales and marketing needed to be aligned if they want to see an uplift in revenues. Incidentally, this is also reflected by industry experts like McKinsey.
As Kim sat sipping his coffee, he stared long and hard at his screen. This was a simple credit card application form, after all, a few fields in all (and not all of them were free text). Then why was this failing to convert? Why weren’t more customers filling up these forms?
When Kim made that call to Xerago later that day, he was only half-convinced that this was even fixable. The over-whelming thought was that customers are just not interested!
At his desk, Amit (*) was about to step out for a smoke while he saw Kim’s number on his mobile. Amit knew they owed some deliveries to the bank but that was only after a couple of weeks and he had confirmed this over email as well. So, the call was a bit of a surprise.
Later in an hour, Kim and Amit would go through the form and agree that it was a little bizarre that customers would spend time on the form page but not fill it up. Typically, credit card application forms were cumbersome and time-consuming, but this was a single-page, 14 field form!
Amit promised Kim that he would have his teams take a look at the form again.
Xerago roped in a cross-functional team – User experience experts, Analytics (the numbers guy) and the Creative experts. In two days, the teams would re-define the customer journey and make tweaks on the forms.
This is what we did. We
a. Tweaked the Application Steps and Fields in terms of re-ordering and optimized the form fields further. This now reduced the number of fields to 12 fields from 14.
b. We introduced Instant form Validation, rather than validating the entries on Form submit.
What this Application Drop-Off Analysis study did was to show that customers drop off at the least amount of friction. The journey needs to be as smooth as possible.
And that there was always room for a small tweak!
Kim was a happy man, having earned a special lunch from his boss. And Amit was a relieved man – he could now have a smoke in peace!
The next story we bring you is about a leading bank in Malaysia. As we see, one of the biggest advantages of Small Tweaks, Big results is the ability to deliver positive results in a short span of time. For this bank, timing was everything.