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In the massive US mortgage market downturn of 2022, Rocket Mortgage was strategizing ways to collect and connect eligible leads to agents for home purchases. Our team sized an opportunity for submitted leads who couldn't connect to an agent after core business hours.
At the time 40% of our paid digital leads were arriving after business hours. Normally a banker would immediately connect with a user after they became a lead, but calling users after 9 PM - 8 AM ET was not operationally possible. Our team was tasked to create a solution that would thoughtfully accommodate late-night mortgage seekers
Product Designer — Interaction Design, Visual Design, User Flows, Rapid Prototyping
Bridging the digital experience between users and our operational team after core business hours, to increase lead generation.
Measurements of success:
Lead to placement
Users who came from the lead funnel and were assigned an official Rocket agent.
Closed Loan Volume
Closed loan volume was determined by how many users entered our lead funnel and transacted with us.
The End Experience
Our design team created a chat interface to connect new leads and agents to start their mortgage applications from
9 PM ET - 10PM ET.
(1/18/23 - 4/1/23)
By creating a conversational chat experience that connected users and agents after core business hours, we were able to create lifts in placements and closed loan volume in comparison to last year's timeframe during after hours.
lift in placements
in loan volume
What was our strategy?
Analyze baseline metrics
Originally we focused on how many leads were falling out during core business hours. Once our design team saw the amount of leads happening after closing time, we addressed the numbers with our product team.
What if we found a way to connect available agents with late-night leads?
Test and review ideations
We conducted a split test to capture demand for a chat experience at the end of our paid search funnel. It led to an insight that users decisively would rather chat with an agent after core hours than speak on the phone the following day.
After validating initial demand, the cost-benefit analysis gave us a strong indication to fill a gap in closed loan revenue. Creating a digital agent chat experience was within reason. This also gave us leverage to convince the banker team to allocate members of their West Coast team to manage leads during the after-hours chat sessions.
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