SELECTED PROJECT:
Voice of the Customer
@ Equifax UK | 2022
Helping Equifax UK prove out the value of a Voice of the Customer program.
The Need
Equifax UK was suffering from poor product adoption and was losing market share to the competition. We worked directly with Equifax UK’s Tier 1 Credit and Lending Customers to gain a deep understanding of their needs, burdens, and challenges using Equifax products.
Validate and improve Equifax UK’s current product definition by incorporating the voice of the customer.
Understand customer needs and expectations of the products and services used today and those planned for future rollout to inform go-to-market communications and rollout strategies.
Establish a lightweight framework and strategy for continual customer-driven feedback loops.
The Work.
Over the course of three months, Equifax UK engaged our team to talk to Equifax UK clients and hear first-hand about their experiences using Equifax products and services.
We interviewed budget holders and people in data and tech roles from six companies. Within the context of unsecured lending, we asked:
What could improved data or insights look like?
What are clients’ needs, burdens, and challenges regarding transformation?
What level of communication and support do clients need from bureaus around product and migration?
Discovery Process
Our team conducted in-depth interviews with stakeholders and clients of Equifax UK to capture the current needs and pain points around creditworthiness and affordability in unsecured lending.
Ahead of our interviews, the team recruited industry subject-matter experts on credit risk and affordability when extending unsecured loans in order to help inform and prioritize Equifax UK’s product roadmap.
There were two main goals for this engagement:
Establish a light framework for an ongoing Voice of the Customer program.
Gather valuable insight into creditworthiness and affordability needs in unsecured lending, while reinforcing positive sales relationships.
Methods & Activities
Each interview or group activity was 1 hr length
Interviews were moderated by our Strategy team
1:1 & group, semi-structured interviews, anchored by an approved discussion guide
Calls were recorded and transcribed, with permission from the participants
The Outcome.
Based on learnings from the interviews and group sessions, the Strategy team recommended a long-term roadmap for Equifax UK based on the following two-pronged strategy:
Continue in-depth client conversations to gain insight & context.
Follow-up on Phase 1 insights to gain a deeper understanding of client needs around our insights.
Product discovery to prototype divergent ideas.
Concept testing to validate our ideas with clients.
Usability testing to validate the usability of our products before deploying.
Expand feedback channels to collect directional insight from clients.
Implement an in-app feedback tool for all products (e.g., Usabilla).
Implement analytics tracking for all products (e.g. video analytics)
Route customer support requests through the Product Team
Stand up an Equifax UK-moderated community forum for products