Why has Rocket Lawyer's online incorporation service seen a 15% drop in completed filings over the past month?

Introduction

Rocket Lawyer's 15% drop in completed online incorporation filings over the past month is a concerning trend that requires immediate attention. To address this issue, I'll employ a systematic approach to identify, validate, and resolve the root cause while considering both short-term and long-term implications for the product and business.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might be seasonal factors at play. Has this 15% drop been compared to the same period last year?

Why it matters: Seasonal trends could explain the fluctuation and impact our approach. Expected answer: Yes, it has been compared, and the drop is unusual for this time of year. Impact on approach: If seasonal, we'd focus on year-over-year comparisons; if not, we'd investigate recent changes.

• Considering user segments, I'm curious if this drop is uniform across all customer types. Have you noticed any particular user segment more affected than others?

Why it matters: Identifying specific affected segments could point to targeted issues. Expected answer: The drop is more pronounced among small business owners. Impact on approach: We'd focus on small business-specific factors and tailor our solution accordingly.

• Given the nature of online services, I'm wondering about any recent technical changes. Have there been any significant updates to the platform in the last 1-2 months?

Why it matters: Technical issues often lead to drops in completion rates. Expected answer: A new user interface was rolled out 6 weeks ago. Impact on approach: We'd prioritize investigating the impact of the UI change on user behavior.

• Thinking about external factors, has there been any change in the competitive landscape or marketing efforts recently?

Why it matters: External market forces could be drawing users away from Rocket Lawyer. Expected answer: No significant changes in competition, but marketing spend was reduced last month. Impact on approach: We'd need to consider the impact of reduced marketing on user acquisition and conversion.