Why has Better Home & Finance Holding Company's online mortgage pre-approval tool seen a 25% decrease in user engagement since the latest website update?

Introduction

Better Home & Finance Holding Company's online mortgage pre-approval tool has experienced a 25% decrease in user engagement following the latest website update. This significant drop in a critical metric requires immediate attention and a thorough analysis to identify the root cause and develop effective solutions.

I'll approach this issue systematically, starting with clarifying questions to gather essential context, then moving through hypothesis generation, data analysis, and validation to pinpoint the underlying causes. My goal is to provide actionable insights and a clear path forward to restore and improve user engagement.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking the website update might be directly related. Could you confirm when exactly the update was rolled out and if it coincided with the engagement drop?

Why it matters: Establishes a clear timeline and potential correlation. Expected answer: The update was launched 2-3 weeks ago, aligning with the engagement decrease. Impact on approach: If confirmed, we'll focus heavily on changes introduced in the update.

• I'm curious about the specific changes in the update. Were there any major UI/UX modifications or new features added to the pre-approval tool itself?

Why it matters: Helps identify potential friction points introduced in the update. Expected answer: Yes, the pre-approval form was redesigned and some new fields were added. Impact on approach: We'll examine the new design and additional fields for usability issues.

• Considering user segments, has the engagement drop been uniform across all user types, or are certain groups more affected?

Why it matters: Reveals if the issue is universal or specific to certain user demographics. Expected answer: First-time homebuyers seem to be more affected than other groups. Impact on approach: We'll investigate why this segment is particularly impacted and tailor solutions accordingly.

• I'm wondering about any changes in the competitive landscape. Have any major competitors launched new features or marketing campaigns recently?

Why it matters: External factors could be contributing to the engagement drop. Expected answer: No significant changes from competitors in the past month. Impact on approach: We'll focus more on internal factors rather than competitive pressures.