| By Jim Bruene on November 12, 1998 10:51 AM | Comments (0) |
YourEquity.com is a promising sales approach from Crestar. Unfortunately, the sales copy doesn’t live up to the innovative structure. Obviously, the company used top-notch designers to design the user interface, navigation, sales approach, and credit application.
Unfortunately, it appears Crestar skimped on copywriters, and usability testing. Users would have told Crestar the “Personal Banker” button made no sense.
The Product: Crestar’s (Richmond, VA; $25.5 billion; 710,000 ATM cards) YourEquity.com is a refreshing marketing approach emphasizing the varied uses (i.e., benefits) of an equity loan rather than the underwriting criteria (i.e. features). Users select a button corresponding to their credit needs, such as home renovation, business start-up, auto buying, college financing, home refinance, or debt consolidation. Clicking one of seven buttons (see screenshot above) launches users into an online sales pitch centered on their stated needs. A 10 basis point rate reduction is offered to encourage users to apply online.
Crestar Introduces a Fresh Approach to Equity Loan Sales
YourEquity.com is a promising sales approach from Crestar. Unfortunately, the sales copy doesn’t live up to the innovative structure. Obviously, the company used top-notch designers to design the user interface, navigation, sales approach, and credit application.
Unfortunately, it appears Crestar skimped on copywriters, and usability testing. Users would have told Crestar the “Personal Banker” button made no sense.
The Product: Crestar’s (Richmond, VA; $25.5 billion; 710,000 ATM cards) YourEquity.com is a refreshing marketing approach emphasizing the varied uses (i.e., benefits) of an equity loan rather than the underwriting criteria (i.e. features). Users select a button corresponding to their credit needs, such as home renovation, business start-up, auto buying, college financing, home refinance, or debt consolidation. Clicking one of seven buttons (see screenshot above) launches users into an online sales pitch centered on their stated needs. A 10 basis point rate reduction is offered to encourage users to apply online.
YourEquity.com Features/Pricing
- online or 800 number application
- 0.10% interest rate reduction for online application
- 0.25% rate reduction for auto pay
- 1.5% rate reduction for balances more than $10k
- table of effective interest rate for various tax brackets
- no closing costs of loans/lines greater than $20,000
- “idea of the week” in lower righthand corner
- database of Web-based home remodeling resources
Crestar makes users feel comfortable with security.
Crestar’s “quick-fill” application is well designed.
Highlights* of Crestar’s Online Application
1. The name, “quick-fill” positions it as easy to use
2. White space within shaded blocks makes it easy to see where data must be entered
3. A large red arrow on the right informs users where to look next
4. Step-by-step instructions are provided under the arrow: “This is page 1 of 3, page 2 asks about real estate”
5. The smiley faced “SSL icon” (left) reassures users and adds a touch of humor to an otherwise dry process
*Again, the company has scrimped on copy writing and has neglected to include any online help for applicants.
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