Intro
Alexander Huck is a financial advisor. His business model isn't traditional financial advisor service, he does not offer services on a commission basis, but rather through a predetermined fee. The first interaction with the client is a free personal consultation with Alex through an online meeting.
Challenge
Current visitors to the website do not always proceed to book an appointment, which can be concerning. To address this issue, how might we effectively increase the conversion rate for individuals who are visiting the website?
Goals
Redesign Alexander Huck's website to increase users' understanding of the service, build trust for the potential user, ultimately resulting in booking a free consultation.
Research
We scheduled a face-to-face meeting with Alexander to learn more about himself, gain insight into his business, and understand his desired outcomes and objectives for this project.
We got all the business details the week before, so we made our questions. Most of his clients are women, and the main ways people find his business are through the website and word of mouth. When he meets with customers, 80% of them use his paid service.
Understanding The Client - Interview With Alexander Huck
Our team put together a short outline of the products in both english and german to understand exactly the ins and outs of the product and services. We confirmed with Alex directly.
Understanding The Product
Our team put together a short outline of the products in both english and german to understand exactly the ins and outs of the product and services. We confirmed with Alex directly.
Understanding The Current Website
This Visual Competitor Analysis was to identify the visual approach the local competing services used for their website design. colours, fonts and features.
Understanding The Customer
To understand how competitors use their websites to have higher a higher conversation rate, we did an in-depth comparative competitor analysis. We marked in orange the key elements we will add after assuming they would increase the conversation rate. Due to time, we have chosen the 5 below to focus on.
Understanding The Customer
Current website is needing an update, which will include more information on products, services and qualifications.
03. Alexander provides two services, with a focus on the fee-based consulting.
Competitors are using multiple techniques that are not included in Alexander's current website.
Financial advisors are. commonly known as untrustworthy people, people tend to invest themselves if they are not sure of how their service/s work.
06. Alexander is open to new ideas for branding, including the logo and colour concept.
Alexander's service stands apart from the rest as it is a sort of 'training' for the investor, rather than the traditional financial service of an advisor investing it for you.
Full transparency is something customers look for with financial services, how does it work, what are the costs and what are the risks.
Customers really want to know more about the qualifications and training of any financial advisory service.
Synthesis
Empathise with Customers
Who are we empathising with?
• Young professionals’
• 30-50 years old
• Customers wanting to secure their future Users with new money
• Customers with no knowledge of the financial market
What do they see?
• Inflation
• Peers investing in multiple ways
• Peers saving cash with no plan
• Peers making bad investments
• Pensioners with poor quality of life
What do they need to do?
• Learn how to invest wisely
• Compare options for investments
• Change spending habits
• Get naked about their financial habits
• Trust a consultant that matches their goals.
What they are saying?
• I want to invest in my future but I'm not sure how
• What are EFTs?
• I want to invest my money in companies doing good in the world
• What are the different ways to invest?
• What are the risks of each investment type?
• Is it only long-term investments?
What are they hearing?
• ‘You need to invest in your retirement now!’
• ‘What about your kids future?’
• ‘You’re not a student anymore, you should have a savings account, or invest’
• ‘I invested and made 300%’
• ‘I invested and the market crashed and i lost it all’
What are they doing?
• Saving money with no plan
• Working full time
• Worried about the future and their financial freedom
• They have a high disposable income
• Abwägen
• Researching self-managing financial services
GAIN
• Profit
• Piece of mind
• Independence
• Security & safety
• Comfortable retirement
• Knowledge of the stock market
PAIN
• Insecure retirement
• Believing it’s too complicated
• Not knowing how to investing
• Fear of bad investments and losing money
• Assumption not enough money to invest
Problem Statement & Hypothesis
User Persona
We decided that an update to his logo to coincide with the new website design.
The logo puts into focus Alexander's first name, which is a key part of his more casual approach. He would like to have his clients address him by his first name, and not the usual formal approach of Mrs/Mr in regular business situations.
Continue testing the user flow to validate the prototype
Iterate from the findings from the findings.
Liase with Alex on the actual website and his feedback.
Bring the website into production from prototype phase with production and development team.
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Process
The information we gained from this was crucial to understanding what we assumed about the website and the feeling towards its current designs, and how that can reflect the low conversation rate on the website.
We conducted interviews and focused on how they use financial services, the problems, the advantages, and the other options they use in financial situations. We also asked them to review the website and tell us about the website verbally, before and after viewing the introduction video.
What is the competition doing?
Site Map
Logo
UI Elements
Hi-fi Prototype
Develop
Deliver
Next Steps