Why has Origin's savings account sign-up rate dropped 30% over the past month?

Introduction

The recent 30% drop in Origin's savings account sign-up rate is a critical issue that demands immediate attention. As we analyze this product challenge, we'll employ a systematic framework to identify, validate, and address the root cause while considering both short-term fixes and long-term strategic implications.

I'll approach this problem by first clarifying the context, then ruling out external factors before diving deep into the product ecosystem, metric breakdown, and data analysis. We'll generate and validate hypotheses, conduct root cause analysis, and ultimately propose a comprehensive resolution plan.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might be a recent change in the market. Has there been any significant shift in interest rates or competitive offerings in the past month?

Why it matters: External market factors could explain the sudden drop. Expected answer: No major market shifts. Impact on approach: If true, we'd focus more on internal factors.

• Considering user segments, I'm curious about the distribution of the drop. Is the 30% decrease uniform across all user segments, or is it more pronounced in specific groups?

Why it matters: Helps identify if the issue is global or segment-specific. Expected answer: The drop is more significant in younger users. Impact on approach: We'd investigate factors specifically affecting younger demographics.

• Thinking about recent changes, have there been any updates to the sign-up process or marketing campaigns in the last month?

Why it matters: Recent changes could directly impact sign-up rates. Expected answer: A new UI for the sign-up process was implemented. Impact on approach: We'd focus on analyzing the impact of the UI change.

• Regarding data integrity, has there been any change in how we're tracking or defining sign-ups?

Why it matters: Ensures we're comparing apples to apples. Expected answer: No changes in tracking or definitions. Impact on approach: Confirms the issue is real and not a data anomaly.