creating a digital innovation capability
case study : creating a digital innovation capability to accelerate speed of change and improve business performance
the business challenge
Our client, a private equity-owned finance business, had seen a consistent drop-off in conversion following changes to process and their lending panel.
We were tasked with discovering the root cause of this, as well as delivering new ways of working that would help the business to become more agile and ready to work more digitally.
We created a blended team of digital specialists and traditional business consultants to work with the client and ‘drill down’ through the entire customer journey to understand what was impacting the conversion rates.
Using a number of research and testing techniques we worked together to gain a true picture of the customer experience – including conducting customer surveys, creating insight-driven personas and conducting a thorough review of the digital offering from a user perspective.
We also analysed competitor online activity, sales and lender data and examined how any opportunities identified would align with the overall business vision and capabilities.
Our data-driven, ‘learn by doing’ agile approach allowed the client team to work collaboratively alongside our specialist team, moving from discovery to tested proposition concepts, and setting up a new innovation capability in just eight weeks.
In terms of business benefits, the project identified and rectified sales conversion issues and improved conversion rates and tracking through the sales funnel, delivering enhanced ROI insight.
This is a great example of our innovative consulting model in action - enabling our client to draw on exactly the right blend of digital and traditional consulting skills as and when required, avoiding the need to recruit and manage these skills in-house unnecessarily.