Helping a bank improve its mortgage refi business by mapping its customers’ path to purchase
Success Stories | Financial Services

Helping a bank improve its mortgage refi business by mapping its customers’ path to purchase

Business Issue

A major national bank needed to better understand the journey its customers took when refinancing a mortgage. The bank wanted to know what matters to customers when choosing a lender, what causes them to consider refinancing, how they decide which providers to consider, which touchpoints are most influential, and which “reasons to believe” have the greatest impact on refinancing and purchase. The goal was to understand what the bank could do to influence its customers’ decision-making process.

What We Did

We mapped the consumer process from start to finish using our dynamic path-to-purchase approach, which revealed a specific weakness in how customers perceive the bank’s mortgage financing business. We learned that more than one-third of customers were excluding the bank from their consideration set because they perceived the bank’s rates to be too high.


Based on the increased understanding of specific steps consumers take when considering a refinance and a new-found understanding of how the bank is perceived, we worked side-by-side with our client to develop a targeted set of strategies to increase awareness and improve communication about its mortgage lending services and offerings. The lending process is now faster and more agile, speeding customers along the path to purchase.

Explore our thinking on Consumer Journey

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Explore our thinking on Messaging

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Explore our thinking on Path to Purchase

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  • Retail and service companies are sacrificing brand loyalty and customer service by eliminating paths to purchase. This blog uses four customer experience examples to demonstrate the need for a better path-to-purchase journey and to show retailers why they need to stop forcing a single path to purchase for all consumers.

  • The customer decision-making process for mortgages is not straightforward and demonstrates the importance of positive brand perceptions and how they impact the path to purchase.

  • Outages are inevitable but they don’t have to negatively impact customer satisfaction or brand perceptions. New report from Cogent Syndicated shows a proactively communicated and resolved outage can build customer loyalty.

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