Improve completion rates by over 40% to reduce support calls, saving over $1M in the first few months
Research
Systems thinking and design thinking saved the day here, and revealed that these issues weren’t related to a single experience but to the sight as a whole
Stakeholder interviews
End-to-end systems analysis of all transactions with high drop-off rates and identifying the source of these pain points
Empathy mapping with customers
Conversation mapping between content/design and UX/customer.
User interviews
Listening in at the telephone support center
Usability studies with a focus on content
User problem
Not understanding what an required minimum distribution is or what the rules are
Frustrated with a complex process
Don’t understand why TIAA requires personal information online
Don’t want to spend the time to do the transaction online
Intimidated and distrustful dealing with money online
Stakeholder problem
Huge expense with calls to call center that took a lot of time per call
Need to increase revenue by saving on cost center and build customer trust and loyalty through seamless, easy use-experience
Project goals
Simplify a complex process
Set expectations for what customers will need, and how long the process will take
Tell them why we need personal information of any kind
Reassure them along the way that they are on track
Simplify, simplify, simplify
Create connection with complimentary features such as: decision support, virtual assistant, and SMS support
Reduce calls the call center
Initial metrics
Solution
Outcomes
Before revisions – Initial submission rate was 24.6%
After revisions – Final submission rate 71.1% for an increase of 46.5%
Saving over $1M over the first month for the call center
Next steps
Continue to explore where drop-offs are happening with user interviews, usability studies, and further research with the goal of getting near a 100% completion rate.
Apply learnings to other transactional experiences.