User Research

Hypothesis: If customers are prompted with providing details about their vehicles in order to receive a personalized and acurate equity position, then they may be more interested in trading in their vehicle. A survey was therefore created to understand if and how customers would find value in such a solution.

I conducted an A/B test:

Concept A allows customers to enter details about the vehicle overall condition, and then results to providing a summary of their equity estimate. Concept #B notifies the customer’s vehicle has equity and displays a trade-in range value. (Wireframes are shown in Ideation section).

Responses from all 162 surveyors were collected on 12/1/2022​
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The survey consisted of 10 questions, each with the goal of gaining a better understanding of how our commercial customers interpret and utilize notifications detailing the equity in their vehicles and their available next steps with Ford Credit.

Key Findings:

Personalization. When a customer has the ability to input their own information into the “questionnaire”, there was more acceptance of the equity range accuracy. If a customer knows that their location is a factor, not the national average for example, it provides a more personalized view of their vehicles value.​

• Upfits and other common modifications should be added to the questionnaire for more accurate estimates.​

• Mileage and the industry/role it was used for could provide another layer of detail in which to draw up an estimate.​

• Train and inform dealers about the existence of Equity Estimates so when customers come to them with a number they are prepared, improving the overall CX.

Furthermore: Customers were generally positive about the appraisal range when they could provide data to inform it.

Feasibility: The scope of Concept A requires inputting a few extra details that does not deter from building out the MVP before the deadline.

Impact: Results from user research indicates that customers are more likely to trust the provided value, after completing the questionnaire. Hence: providing customers with more accuracy and information in order to make an informed decision in renewing their vehicle with Ford.

Certainty, Risks & Assumptions

Certainty 

• Customers want to know their equity position and are motivated to complete a questionnaire about their vehicle to receive a more accurate estimate. Customers prefer an experience where they can tell us about their vehicle’s condition as opposed to one where they do not are given an estimate upfront.

Risks  

• Because this is not a guaranteed trade-in value, the dealer’s appraisal may not be close enough to the estimated trade-in value causing dissatisfaction.   

• The valuation model updates weekly therefore customers’ estimated trade-in value will vary week-to-week. Customers may not have the most up-to-date estimate before going to the dealer.  To mitigate this risk, there will be clear messaging on the final estimate screen  

Unknowns  

• Storing data once customer completes questionnaire and receives estimate