CRM

debtconsolidationcare.com: Case Study

Increasing Customer Conversion and Retention for a Finance Company

by Ash Nallawalla

This Californian company debtconsolidationcare.com came to me with a common problem that faces all businesses - how to get visitors to become customers and then remain satisfied customers.

Getting the site to convert, in this case, meant getting prospects to supply their confidential information to an unknown entity. Gaining trust was, therefore, high on the priorities of this project. The original web site was shallow and the application form was cumbersome. I would not want to answer some of the questions if I had needed such services. A high form abandonment rate was also attributed to the possibility that some prospects read too much into some questions and eliminated themselves, assuming that they would never get approval.

Changing the form was a high priority and, fortunately, the client was amenable to a much shorter version, which can be seen in the screen shot above. The link to the Privacy Policy was made easier to find and the fields were reduced to the bare minimum. The client has a large staff that can telephone the prospect and get additional information.

Specific advice about other parts of the web site was also given, such as offering a forum where prospects could ask questions and discuss topical matters. Prompt, knowledgeable responses would help to engender trust and, occasionally, other forum participants might offer a helpful answer based on their own knowledge.

I helped them to implement a Members section on their website, where customers can ask personal questions that they might not want to discuss in the forums. We also implemented a feedback loop with the customers and had occasional surveys go out to measure customer satisfaction. Over a period of nine months we saw a consistent rise in customer satisfaction increase in referrals of new customers from current customers. They now acquire more new customers through referrals from current customers - rather than rely solely on new customers walking in through the door. This was the metric that finally stamped success on this project.

Some other sound business tactics were used, but owing to client confidentiality, cannot be listed here.