Successful new onboarding with excellent results
About
This case study explores how I reimagined the onboarding process from the ground up, using user insights and innovative design to create a more intuitive, personalized, and impactful experience for users seeking business funding.
Problem statement
The existing onboarding process faces significant challenges due to its one-size-fits-all approach. With a single onboarding journey attempting to cater to 13 distinct types of funding, the process fails to ask the right questions tailored to each funding type. This lack of specificity results in inadequate and often irrelevant data collection, leaving our funding managers without the critical information needed to make informed decisions.
User Interviews
We conducted in-depth interviews and surveys with users across all funding types, revealing significant gaps in the current process. Users expressed frustration with irrelevant questions and a lack of clarity, often resulting in incomplete or inaccurate data submissions.
Stakeholder interviews
Engaging with funding managers and other stakeholders revealed the specific information they need from the onboarding process. Their feedback underscored how the current data collection is insufficient for making informed funding decisions, highlighting the need for more targeted questions.
Journey mapping
Detailed journey maps were created for each funding type, enabling us to visualize the user experience at every touchpoint. This exercise identified key pain points where the onboarding process failed to capture essential information, guiding a more focused redesign effort.
Competitor analysis
Analyzing the onboarding processes from industry competitors, we identified best practices for tailoring the onboarding experience. This research provided valuable insights into alternative approaches that better align with the unique requirements of each funding type.
Usability testing
We developed and tested prototypes of the new onboarding flows, customized for each funding type, using Userlytics and Typeform. Usability testing showed that the tailored questions significantly improved user satisfaction and data accuracy, confirming that the new approach better addressed users' needs.
Data analysis
After the release, we closely analyzed user behavior and made small adjustments to the new onboarding process as needed.
One oversight we encountered was that by simplifying the process for users to find the exact type of funding they needed with the appropriate question set, we observed a shift in user behavior. Users began gravitating toward a more diverse range of funding options.
While this improved the user experience and made securing funding easier, the business was not equipped to handle the sudden increase in demand for certain types of funding. As a result, we had to adjust some screens to help maintain a balanced distribution of leads across teams.
Thanks to the solid foundation of the new onboarding system, it took only a few hours to identify and fix the issue.
Results
The results of our revamped onboarding process were transformative. Conversion rates, which previously ranged from 9% to 15%, surged to an impressive 40% to 45%, showcasing the significant impact of a more tailored and user-centric approach.
The success of this initiative prompted a strategic shift within the company, leading to a reorganization of our roadmap and priorities. Recognizing its value, the business is now committed to extending the optimized onboarding process to other regional products, ensuring a consistent and effective experience across all markets.
Additionally, we observed remarkable improvements in page drop-off rates, with one particularly challenging question experiencing a dramatic reduction from a 45% drop-off rate to just 1.25%. These outcomes highlight the effectiveness of our user-focused redesign and underscore the critical role of targeted onboarding in driving business success.
Designs
See full experience: https://swoopfunding.com/