Boost client bank grew applicant pool by 30% instantly because of a data insight.
Generally, we know that data has become an invaluable asset for individuals, businesses, and organizations in today’s digital age. The ability to collect, analyze, and interpret data has revolutionized how we make decisions, solve problems, and drive innovation. Here are a few reasons why data is so essential: Improved Efficiency, Enhanced Customer Experience, Data-Driven Innovation, and Predictive Analytics.
Boost Platform includes a live data dashboard for each of our partners, giving access to real-time data about their applicants, marketing/referral sources, drop-off points, and, crucially, WHY applicants are dropping.
Is it a good drop-off where ineligible applicants are being weeded out? Or a bad drop-off where interested applicants can’t find a financial product that meets their needs? Boost services also include a monthly analysis session with our expert product team to analyze the data, implement new experiments, and offer changes to maximize the customer funnel. We call this “Stage 2” in how Boost tech can expand your customer base:
Now, we’ve further enhanced our data dashboard offering with new capabilities. We’ve added demographic data overlays for deeper analysis of exactly who your current applicants are, optimizing your conversion rates and expanding your customer reach into untapped cohorts being underserved by your current offerings.
Using our data dashboard, one bank partner discovered they were losing one-third of applicants (female business owners) because they needed a financial product to meet their needs. Within weeks, we launched a new product line for them to onboard female entrepreneurs, capturing a whole new customer base! Boost’s team builds long-lasting relationships with each partner by working closely with you to improve customers’ experiences and enhance your financial services offering using these data-driven learning processes.
If you’d like to learn more about our new demographics analysis capabilities, please request a demo at nipoan@boostkh.com.
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