CVL Think | Plan | Do

The Background

Zopa is the marketplace for social lending. People lend to and borrow money from each other, sidestepping the banks. Following a high-profile launch, Zopa needed to drive up the number of people registering for the service and increase its conversion rate – turning its website browsers into customers. Zopa turned to CVL to provide a solution.

 

"We gave them an impossibly tight deadline. We gave them a ridiculous conversion target. The interdependencies in the process were complex. We needed them to understand and be sympathetic to our brand. We wanted practical recommendations that were implementable in 3 weeks. Frankly - it was a project from hell.

They did all this and way exceeded everyone's expectations at Zopa. They impressed everybody with their speed and diligence. And they were fun and fabulously easy to work with."
James Alexander, UK CEO and co-founder, Zopa.
 
 

The CVL Solution

CVL carried out an independent evaluation to identify Zopa’s problem areas. The project concentrated on analysing the Zopa website in several ways:

- expert evaluation to identify the   problem areas
- usability analysis, profile matching to target users
- usage analysis to identify drop-out points in the sign-up process.

CVL revised the online borrower journey, and created new wireframes and templates for the enhanced website structure and content to meet user demand.

The Benefits

CVL delivered changes to the website structure and content which reduced the sign-up journey from 28 to 15 steps.

Zopa saw a 41% increase in the number of visitors who went on to register with Zopa, and a 288% increase in transactions among registered, credit-checked users.