Using Customer Journey Mapping to Understand Gaps in the Market
We love to see the tremendous impact mapping a customer experience, or journey, can have on a company’s understanding of customers – both existing customers already using their products/services and potential customers who may have some pain points that company can fill.
Mini Case Study:
One of our clients, an online real estate company, wanted to learn how home buyers experience the mortgage lending process. They were looking to understand the steps people take in researching lenders and obtaining a home loan, as well as the emotions associated with those steps. Where are they most confident? Where is there a lot of confusion? When do they feel frustrated? When are they happy? Do their satisfaction levels vary whether or not they are buying a home for the first time or are a repeat buyer? So many questions!
To get the answers, we combined in-home research with a quantitative study. We talked to several recent home-buyers (and some who were still in the process) in a variety of US housing markets. While in their home, we talked in-depth about their experience and looked first-hand at the tools and resources they used. The information collected was used to design a comprehensive online survey that was sent out to hundreds of recent US homebuyers.
The results were used to create a customer journey map – it included the steps taken at each stage of the mortgage journey, what triggered that stage, customer emotions at each stage, and where there are points of satisfaction and dissatisfaction. The survey data provided the detail needed to identify opportunities, and the in-home research helped paint the full picture by humanizing the data through examples, quotes and pictures. The end result of building a comprehensive mortgage journey map? Ideas for new products and services to help home-buyers navigate the process of obtaining a home loan, from beginning to end. The team was able to see the value right away!
If you think customer journey mapping could benefit your team, reach out – I’m here to chat!
Anne Bakstad
anne@clearworks.net
