Posts Tagged ‘application’

Making online forms as easy as possible

May 14, 2013

I’m in the process of writing an article for CUES’ CU Management magazine, about KickStart Online Lending Generator and Holy Rosary CU’s results. Editor Lisa Hochgraf had some excellent questions for me which prompted me to do a little bit more research into the universal conclusion that removing barriers and streamlining online forms from the user’s perspective leads to better results and increased sales.

So I thought I would share with you some of the eye-popping research that I discovered (and thus why Carol and Holy Rosary CU are getting wonderful results with KickStart – i.e. 10.49% growth in their loan portfolio over the past 6 months):

• Google’s Marissa Mayer: Speed Wins

The $300 Million Button

How Amazon’s website usability affects consumer product choice (This is a lengthy research paper)

In addition to the above research on the importance of streamlining the user/member/customer experience to improve sales, we’ve done some streamlining of our own. One item that proved to ourselves that we get better results when we make things easier online is that when we took the step of pre-filling out our own Online Switch Kit demo for you, dozens and dozens of you tried it out, compared to nearly no one trying it out when it was not pre-filled. It seems simple, but often times the little things can make a BIG difference!

So in our continuing quest to make our own forms and demos even easier to try out, we’ve now also pre-filled out the already-simple KickStart Loan Request form to make it even easier for you to test that for yourself. Kick the tires on KickStart yourself right here: KickStart test site

I’d love to hear your thoughts on this – did you find you got better results when your streamlined your online processes, forms, applications, and navigation? Was there ever a time when making things easier for your members online was a bad thing?

KickStart in action

March 7, 2013

Carole Wight, CEO of Holy Rosary CU in Kansas City, Missouri, recently shared with us an email exchange she had in regards to an inquiry into her use of EverythingCU.com’s KickStart online loan application:

Question: Once they fill out the on-line app, what is the process/member experience from there? 

Carole: Usually we are able to match the account number with the online application. We pull some quick loan data and promptly call the member back. Usually we have the information we need to move the loan to closing when we call so we are WAY AHEAD on the process.

Question: How has the process/member experience changed from before the on-line app? 

Carole: Before online application, they either didn’t call us because they were at work by the time we were open, or the process dragged on. They would call us initially and we would have to pull their credit and get back to them. All this took time and many times the loan was lost. Either because they never called or we didn’t have the jump we needed to catch the loan.

Question: How has it helped the staff in getting or processing a loan? What % of your loans go thru the on-line app comparative to the traditional process? 

Carole: That is a very interesting question. I don’t have a fancy system that captures numbers for me like this. I wish I did and I am getting ready to go there but I am searching for solutions. I would say 10%-20% of our applications come from KickStart. That is just a guess. NOW, if you ask me which of the most have the most successful close rate, I would say that KickStart helps us get closes. My staff like it because they have tons of information when they start to talk to the member. We have more loans because of KickStart.

If you have any questions in regards to KickStart, please feel free to email me at any time!