Embarking on a journey of effective product discovery for a fintech startup can be quite the expedition. Today, we will explore the success story of Epsor, a B2B2C company dedicated to empowering employees with easy, efficient financial saving solutions, and how they leveraged Screeb, an efficient product discovery tool, to optimize their product development cycle.
Head of Product
The Challenges in Product Discovery for the Fintech Startup Epsor
Marion Turbet, Head of Product at Epsor, explains the company's initial struggle with user feedback and discovery. Starting off without a structured feedback collection process, the team quickly implemented an in-app survey tool. Although initially successful, over time they found themselves battling with redundant, non-specific feedback. Moreover, the pressure of constantly bombarding users with survey questions started to take a toll on user satisfaction.
The team began to rely on traditional methods, such as user interviews and tests, but these were time-consuming and lacked the necessary quantitative perspective. This realization led to a crucial question, “How can we make faster and better discovery by leveraging our feedback tool?”
Screeb: The New Solution for Feedback
To address their needs, Epsor switched to Screeb, which delivered a more pleasant respondent experience and a significantly higher response rate. The flexibility of Screeb’s interface simplified the configuration of various surveys and facilitated faster analysis of results.
Four Use Cases: Implementing Product Discovery for Fintech Startup
Marion shares four concrete use cases to demonstrate how Epsor optimised their product discovery using Screeb.
Early Insights & Better Roadmap Choices
The first use case entailed collecting early insights on user behaviour at a minimal cost to make better roadmap choices. A survey targeted at users who had just transferred money to their Epsor account, yielded over a thousand responses in just two weeks. The insights derived helped shape crucial roadmap decisions.
The second use case focused on validating hypotheses quickly. Marion and her team ran two experiments to test if users would appreciate receiving new investment recommendations. A simple survey, followed by an MVP, not only validated their hypothesis but also provided in-depth insights from targeted user groups.
User Recruitment for Solution Exploration
The third use case tackled the challenge of user recruitment for solution exploration. Using Screeb, Epsor could recruit users faster, enabling the product design team to test and iterate prototypes quickly.
Finally, as they launched their feature, Screeb facilitated measuring user perception and quickly assessing the success of the feature. This helped Epsor save valuable time in decision making and iterating improvements.
Embarking on a path of product discovery for a fintech startup is a continuous process that requires constant modification and monitoring. With a flexible and efficient tool like Screeb, Epsor has demonstrated the potential to enhance product discovery and significantly boost user satisfaction.