These services addressed various business needs such as accounting, reporting, counterparty verification, CRM, and others. One of these major banks, focusing on a B2B marketplace, approached Markswebb for assistance in 2020. The platform had been operating for over a year, with its main task being to attract potential clients through B2B services and subsequently onboard them into the bank’s products. However, the marketplace's key performance indicators were growing slower than management's expectations, and it was still unclear whether entrepreneurs found the format of purchasing service packages through the marketplace appealing.
Markswebb researchers were tasked with figuring out how to improve the product showcase, increase user conversion into bank clients, and overall enhance brand communication quality. The research results helped make the showcase offerings more valuable to the target audience and increase the conversion rate into new bank clients.
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The researchers needed to assess the quality of the client's service, ensuring it met market standards, identify growth areas, and understand entrepreneurs' motivations when selecting B2B services. They selected platforms for research and comparison with the client. Fourteen marketplaces from three different niches were chosen: standalone B2B platforms, marketplaces integrated with financial company websites, and marketplaces from telecom and IT companies. Focusing on the strongest and most prominent marketplaces provided insights into how market leaders operate.
All marketplaces were studied through desk research. The researchers analyzed the content of all sections, interface capabilities, pricing features, and positioning. At this stage, the best solutions were gathered and scenarios for UX testing were developed.
Conducted usability testing: Twenty entrepreneurs, representing the marketplace’s target audience, were invited for testing:
This selection method ensured that the test participants closely matched the portal's target audience.
Conducted in-depth interviews with entrepreneurs: Respondents shared their needs and business challenges, and the principles they follow when choosing services.
As a result, about 80 recommendations were prepared for the bank’s product team. Most recommendations addressed interface functions, but the most significant changes were required in the service's positioning. Researchers recommended thoroughly redesigning the marketplace's homepage and emphasizing the business benefits in the descriptions of B2B solutions.
To enhance the bank’s digital marketplace by improving the product showcase, increasing brand communication quality, and boosting user conversion rates.
Problem #1. Entrepreneurs don’t understand the value of buying services at the bank’s marketplace, as every service is also available elsewhere.
The purpose of the main page of the marketplace is to show how the platform can help solve business tasks and show clear advantages:
This main page refining should help visitors stay focused, retain their interest, and motivate them to move on to choosing services.
Problem #2. Service descriptions on the showcase don’t help retain the interest
When customers see marketing names of the services, they can’t relate them to specific solutions and don’t see the value. The point of growth was to highlight full and clear info on pricing and what kinds of tasks they solve.
Beginning entrepreneurs were offered some prepared bundles of services to start a business, handy guides, and articles. For example, such bundles as “For Internet-shops” or “For sales point” contain the specific bundle of services that help design a website, find verified providers, register business or a trademark — and then apply for card acquiring and other financial services for retail companies.
Experienced entrepreneurs were shown the ways to optimize processes and cut costs. Reliability of the services, affordable pricing, and bank support were brought to the forefront. The next step to develop is to personalize offers.
Problem #3. User experience quality
Even if all the features work as planned and with no critical issues, it’s important to pay attention to enhancing UX that can bring the showcase interaction to a whole new level. For example:
This case study demonstrates a strategic approach to enhancing a bank's digital marketplace through comprehensive analysis and practical recommendations. By focusing on user needs and market best practices, the project successfully improved user experience and conversion rates.
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