→ Qualitative user interviews
→ Expert interviews
→ Competitor analysis
→ User journeys
Before beginning the research phase, we first defined research focus and planned the research process. This included recruiting interview participants, setting up relevant tools and formulating the questions around areas including customers, communication and image or perception.
Over two weeks, we conducted qualitative user research to understand the contemporary needs and pain points of customers, former customers, potential customers, competitor customers and private loan brokers. A total sample of 60 interviews: 54 customers and 6 brokers was achieved. Additionally, we also provided desk research and benchmarking to gain insights into quantitative market developments, best practices and competitor offerings.
From this intense ethnographic study, we were able to build a customer and broker journey and capture 5 clear customer archetypes, outlining their different needs and behaviours during the private loan experience and highlighting pain points and opportunity spaces, where we could then provide recommendations for future improvement.
Question focus areas
Over the course of a month of intensive customer research we provided the team with many insights into the journey which customers go through when getting a personal loan. These findings and proposed strategies enabled the client to embrace their vision of becoming a trusted personal loan provider that supports customers along the entire customer journey.