How I've smoke tested and analysed business potential of insurance service for Docplanner.
A thorough examination of various European markets revealed a burgeoning trend towards self-managed subscription-based insurance services, presenting a stark departure from traditional models. In Poland, where existing insurance offerings lagged behind these innovative models, we saw an opportunity to test the waters.
While some critics argue against the efficacy of smoke testing, citing potential drawbacks to user experience, I found it to be a pragmatic and efficient approach, especially when considering the constraints of time and resources. Despite engaging in spirited discussions with specialists advocating for more refined methods, I firmly believe that sometimes simplicity reigns supreme, particularly when one's own financial investment is on the line.
Before launching the experiment, several key components demanded attention to detail to ensure its success. Here are a few things I took care of:
One particularly insightful experiment revolved around the choice of a top image, where I tested two different portrayals of a young woman using a phone. The aim was to convey the company's ethos of modernity, progressiveness, and inclusivity. Initially, I selected a photo featuring a young black woman, intending to emphasize diversity and relatability. However, feedback suggested that some users perceived this as indicative of a global, impersonal image. Given Poland's limited diversity, ethnicity, and racial discussions being sensitive topics, I conducted an A/B test, substituting the photo with one featuring a white woman.
The outcome was startling — the version with the second woman achieved four times higher conversion rates than its counterpart. This raised intriguing questions for business owners: Do we opt for the safer choice or lean into our brand identity, albeit with potential adjustments, to communicate inclusivity and social commitment? Both paths warrant further investigation.
Now, onto the results. I strategically launched the experiment towards the end of the year, coinciding with the expiration of many people's insurance licenses, thus heightening interest in the topic. The outcome was promising — for the best version, approximately 60% of impressions led to website visits, with around 1 tenth reaching the final page. All that with reasonable AdWords cost of acquisition, kept below 20% of potential income. These findings underscored the business potential and provided a solid foundation for further exploration into the topic.