ABOUT THE CLIENT:
SmartSAVER is a non-profit community project. Our goal is to make it easier for families to understand and access the government money that is available for education after high school using a Registered Education Savings Plan (RESP). SmartSAVER provides families with the information they need to get Government money for their children’s education. SmartSAVER‘s goal is to inform low-to-medium income families about the Canada Learning Bond and the advantages of starting an RESP for a child, while helping them to access available government funds online
PROJECT GOALS
Enhance the emotional impact
of SmartSAVER’s website.
Create a more streamlined,
intuitive user experience.
Increase SmartSAVER’s conversion rate.
RESEARCH
Primary Research
One interview was conducted with an employee of the Nova Scotia Department of Community Services that works directly with low income families and children. The other was conducted with an ACORN employee who works directly with users of SmartSAVER’s online application, mysmartfuture.org. The interviewees were able to speak to pain points that users might have with websites and online applications, in general, and also shed light on how smartsaver.org is currently used.
Results & Key Takeaways
1. The website redesign should be simple with copy geared towards a middle school reading level so as not to scare people away - the current site is “too wordy for the type of client that would use it”.
2. To put users at ease, the website should emphasize that signing up for the Canada Learning Bond (CLB) will not cost them any money or loss of benefits, does not require them to give out sensitive information
3. Building trust with the user is very important. People are skeptical of ‘free money’ and wary of being scammed - “A lot of the time, people think it’s too good to be true”.
4. The multiple language translations should be kept, this is ACORN’s primary reason for directing people too smartsaver.org
and helps a greater diversity of people to access the CLB.
Secondary Research
A March 2017 report provided by SmartSAVER, the Perennial Findings Report, provides a useful analysis of SmartSAVER’s branding and communication strategy. The following insights from the report will be leveraged alongside the interview data in the website redesign.
What Smartsaver users really need to know
- No cost or out of pocket contribution
- No impact on social assistance
- Requires minimal time Requires minimal effort
RESPs that are flexible, easy and have no fees do exist
- The sooner you start, the more you earn
- Apply online or in personPartnering financial institutions are here to help
Call to Action Messaging
- What needs to be reworked:
Education “savings” as lead CTA.
- Order in which one applies for CLB and opens an RESP.
- Name of user destination (SmartSAVER.org, Start My RESP,
Get my CLB?).
- Reliance on online application.
- Insufficient consumer support through interaction with financial institutions.
QUANTITATIVE RESEARCH
Statistics
“Children with some savings
are more likely to graduate
from high school 1 and 50%
more likely to pursue a
post-secondary education.”
“Lower-income children with
as little as $500 in savings are
3x more likely to attend
post-secondary education and
4x more likely to graduate.”
“Savings for a child’s higher education can help to lay the psychological and financial foundations for lifelong learning.”
“The process of saving and building assets helps teach money management, foster future orientation, and encourage long-term planning.”
CONCLUSION
Insights from the research that was conducted provide a clear path forward to how the SmartSAVER website should be redesigned. Actionable points include streamlining the site’s content, simplifying the language used, clearly communicating the ‘nothing to lose’ message, succinctly explaining the CLB & RESP, and providing relatable testimonials. The overall design of the website will focus on clarity, brevity and building trust and will use a simple layout, inviting colours and easy to read fonts.
