All aboard, Tyro EFTPOS
Tyro is Australia’s business bank for small and medium enterprise. Customers love the company’s easy EFTPOS, Banking, and Business Loan products. Getting a quote for EFTPOS is the first step to becoming a Tyro customer.
The quote process on tyro.com connects to many back-office systems and teams to provide prospects quotes.
Over 86% of Tyro customers join through the Quote Wizard on tyro.com.
Therefore we need to make a great first impression.
The Project
In late 2017 the business decided to terminate the third-party supplier who handled the self-serve customer application process and build a simplified replacement in-house.
My team was given six weeks to create the solution. We assembled a team of stakeholders, designers, and developers across departments to deliver a friendlier, more efficient, and more profitable customer experience.
The Result
Testing early and often with customers and then implementing feedback, we continuously improved the prototypes and delivered the final result – a 40+ step process reduced to 12 steps.
Conversion rates also exceeded our expectations – delivering a 128% increase in traffic to leads.
THE DESIGN PROCESS
We used quantitative and qualitative data to identify customer pains, form insights, and then prioritise opportunities to improve the customer experience.
Working in weekly Design Sprints, I led research and discovery with 1 on 1 customer interviews to uncover pain points and develop insights to leverage in design.
We tested low and high fidelity prototypes with customers along the way to validate the design decisions we were making at speed.
The existing customer journey
Below are a few of the design decisions that informed the final product.
“I’m with CBA now – because my personal banking is with them – but I could just put Tyro in the shop for a couple of months to see how it handles the lunch rush”
– Rachel, Restaurant owner
INSIGHT | BREAK UP WITH YOUR BANK
Many participants were surprised to find we offered no lock-in contracts. This essentially allows them a risk-free way to trial Tyro – along with their current provider.
THE DESIGN SOLUTION
Show customer benefits explaining the three key propositions that business owners care about.
“How long does this take to apply? What happens next?”
– Matthew, Cafe owner
INSIGHT | GIVE TO RECEIVE
Many participants were surprised we asked for contact details as the second step.
THE DESIGN SOLUTION
Give the customer some value (allowing them to choose their EFTPOS) before asking for their contact details. They’ll feel more invested in the process and more likely to share their contact details if they’ve already chosen their EFTPOS.
“Pricing is still a major sticking point for me. Compared to the other banks, Tyro looked expensive.”
– Sonia, Boutique owner
INSIGHT | APPLES WITH APPLES
Participants were unaware of the value we were including in our offer – and that other banks were charging for.
THE DESIGN SOLUTION
Show everything that’s included for the price.