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Company focus

Thrivent

Why has the average customer satisfaction score for Thrivent's online account management portal declined from 4.2 to 3.7 out of 5 in the past year?

Prepared by NextSprints

15 mins
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Data Analysis Problem Solving User Experience Design Financial Services Insurance Fintech User Experience Root Cause Analysis Digital Transformation Customer Satisfaction Financial Services
Product Management Root Cause Analysis Question: Investigating customer satisfaction decline for financial services portal

Introduction

The decline in Thrivent's online account management portal satisfaction score from 4.2 to 3.7 out of 5 over the past year is a significant issue that requires immediate attention. This 12% drop in customer satisfaction could have far-reaching implications for user retention, brand perception, and ultimately, the company's bottom line. To address this problem, I'll employ a systematic approach to identify, validate, and resolve the root cause while considering both short-term fixes and long-term strategic improvements.

Framework overview

This analysis follows a structured approach covering issue identification, hypothesis generation, validation, and solution development.

Step 1

Clarifying Questions (3 minutes)

  • Looking at the timing, I'm thinking there might have been a major platform update. Has there been any significant change to the portal's functionality or user interface in the past year?

Why it matters: Major changes often lead to user dissatisfaction during the adjustment period. Expected answer: Yes, a redesign was implemented 8 months ago. Impact on approach: If confirmed, we'd focus on post-redesign user feedback and usage patterns.

  • Considering user segments, I'm curious about the distribution of the satisfaction scores. Are we seeing a uniform decrease across all user groups, or is it more pronounced in specific segments?

Why it matters: Identifying affected segments helps narrow down potential causes. Expected answer: The decrease is more significant among users aged 55+. Impact on approach: We'd investigate accessibility issues and the needs of older users.

  • Thinking about external factors, has there been any change in the competitive landscape that might have raised user expectations?

Why it matters: User satisfaction can be relative to alternatives in the market. Expected answer: A major competitor launched an innovative feature six months ago. Impact on approach: We'd analyze our feature set against competitors and user expectations.

  • Regarding the measurement itself, has there been any change in how the satisfaction score is calculated or collected?

Why it matters: Changes in measurement can sometimes explain shifts in metrics. Expected answer: No changes in the measurement process. Impact on approach: We'd focus on actual user experience issues rather than measurement anomalies.

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Updated Jan 22, 2025