The road to getting money to support your business is a rocky one. It takes a long time, and it's a very complicated process. Even then, most banks and other financial parties hardly ever help small business owners. However, it doesn't have to be this way.
Yeaz! set out to challenge the status quo when it comes to business loans. They wanted to create a loan application system that felt human and understandable in the world of financial gibberish. They wanted to create room for the ambitions of small entrepreneurs to grow their business, and we couldn't agree more. So, we teamed up to create a brand new platform.
The most human loan application without human interaction
Together with Yeaz! and DotControl, we set up a whole new loan application system. With intelligent iDIN* and KvK** integrations, we can easily see which entrepreneurs are eligible for a loan and for what amount. With just a few clicks and questions, the requested amount is transferred within two business days. A process that used to take days is now done in only five minutes.
*iDIN is an online way of identification, introduced by the Dutch Payment Association
**KvK is the Dutch Chamber of Commerce
No data, no problem
Being a new player in the field, Yeaz! had to stand out from the crowd but still sound and feel trustworthy. That’s where we came in. But, since we were involved when Yeaz! was founded, they obviously had no data yet. We had to start from scratch. So, what to do when there is no data? We conduct our own research!
We started by doing in-depth customer research. We interviewed multiple business owners and translated all of this data into actionable personas. After that, we created a Customer Desire Map, where we categorised all the findings into:
This information gave us a head start in understanding the customer desires. It was hugely valuable not just for the tone of voice but for the overall content and look & feel of the Yeaz! brand.
Second, we conducted market research. We thoroughly evaluated the competitor landscape, where we focused on the Unique Selling Points and their tone of voice. By mapping this out and comparing it to our customer desire maps, we spotted all the opportunities for Yeaz!.
Third, we identified interesting traction channels. We brainstormed around all 19 traction channels to start thinking outside of the box as to how they could reach their potential customers. We then did another analysis of how their competitors reached their customers. We concluded that there was still plenty of room for new ways for Yeaz!.
The last step was to combine this data and set up our own USP's and tone of voice. We made sure the website was as easy to navigate as possible, the propositions were clear, and the traction channels were ready for action.
Within one year, Yeaz! wanted to have 200 new clients. So, 200 outstanding loans, representing 3.5 million euros. That was the clear sales goal for 2018.
Because of their disruptive character, Yeaz! has clear objectives on how loans are provided. Based on trust and putting the ambitions of entrepreneurs first.
Yeaz! was off to a great start. Within four months after going live, the initial sales target was already achieved. Seven hundred customers now had a business loan. The outstanding amount of loans also exceeded all expectations and they made 7.8 million euros instead of 3.5 million euros.
More than the initial goal
More amount of loans
Yeaz! didn't just strike a chord when you look at the figures. It also scores high in terms of customer satisfaction. Many five-star ratings on Google, often mentioning convenience, transparency, excellent service and positive surprises:
DotControl, more than a partner. Whenever and wherever we go, we go together. With surgical precision we build and execute our strategy on both a marketing and operational level. DotControl is an inseparable extension to the business of Yeaz!
Thanks to the data-driven lean approach, the online campaigns have resulted in +300% conversion.
Applying for a business loan doesn't have to be complicated and time-consuming. Benefits that really resonate with the target audience.