Case Study - Transforming Client Onboarding: A 150% Increase in Conversions

Overview

SOCAN is a leading player in the music industry, specializing in managing royalties for music producers, songwriters, and artists. Their business relies on onboarding new customers through an application and agreement process. However, inefficiencies in the process were causing significant revenue loss, with potential customers dropping off at various stages of the journey.

The Challenge (Problems We Uncovered)

The existing application process was plagued with inefficiencies, leading to low conversion rates, high drop-offs, and operational bottlenecks. Key challenges included:

• High Drop-Off Rates: 50% of users abandoned the application after starting, and 40% didn’t even begin the process.
• Low Approval Rates: Only 14% of users who visited the application page were approved, with 50% of applications being rejected due to duplicates, unsigned agreements, or conflicts with other organizations.
• Poor User Experience: The application was lengthy, jargon-heavy, and lacked features like progress saving, leading to frustration and abandonment.
• Duplicate Submissions: Users would sign up with username and constantly forget then reapply. This led to a lot of duplicate applications.
• Inefficient Internal Processes: Internal teams spent excessive time following up with customers, managing duplicate applications, and handling repetitive tasks.

What we did

Solutions

To address these challenges, we delivered a comprehensive solution that addressed both user and internal pain points:

• Quick Signup: Reduced friction by allowing users to start with just an email.
• Simplified Application: Cut the initial application length by 40%, improving completion rates.
• Representative Support: Enabled business managers to manage multiple clients seamlessly.
• Progress Tracking and Saving: Reduced abandonment by 30% with progress indicators and save functionality.
• Automated Workflows: Reduced internal follow-up time by 50% with auto-reminders and templates.
• Post-Approval Onboarding: Collected additional information after approval, improving time-to-revenue.

Results

The new process delivered significant improvements across key metrics:

• Drop-Off & Conversion Rates: Application submission rate improved from 30% to 75% & Reduced abandonment during the application process by over 90%
• Approval Rates: Approval rate increased from 14% to 80% (5x)
• Internal Efficiency: Reduced time spent on follow-ups by 70%.
• Customer Satisfaction: Improved Net Promoter Score (NPS) from 45 to 75, reflecting a better user experience.