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B|P Helps E-LOAN Triple Auto Loan Applicants Through Remote User Testing

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Problem: Not Radically Simple

The loan calculator was one of the most often used tools for users coming to the E-LOAN site to apply for an auto loan.
However, it wasn’t providing the information users needed to know before they applied. Users didn’t understand the different fields or how they went into the calculation of rates. For E-LOAN, this resulted in too few users applying for an auto loan from the calculator.

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Remote Testing: Small Changes. Huge Results.

Using Ethnio, B|P conducted a remote moderated usability study on their existing auto loan and rate calculator, and rate calculators on several competitor sites. Fifteen users looking for an auto loan or to refinance their current loan were recruited live off the E-LOAN site to participate in one-on-one moderated sessions. During these sessions B|P moderators talked to these users to identify what they were looking for as they calculated rates.

These sessions uncovered that users needed to feel confident that the rates that they were shown would closely reflect the rates they would get if they applied. From the data gathered, B|P created mock-ups of a calculator with user needs in mind, while also taking into consideration E-LOAN’s business needs. The mock-ups gave E-LOAN the information they needed to redesign and internally test a new calculator.

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Results: Conversion Goes Up 300%

In December of 2005, E-LOAN conducted AB testing of the existing calculator and their newly redesigned calculator. The redesigned calculator converted three times as many users to loan applicants. After pushing the simple, redesigned version, the conversion rate has continued to radically rise.