Behaviourlab Product Feature Development – first direct Case Study

Synthesis

Multivariate statistical models were applied to product uptake (i.e., the proportion of participants that picked first direct’s product) and perception metrics to quantify how these outcomes vary in response to changes in switching incentive. Real-world banking information and demographics were included in all models to control for individual circumstances.  

The model for the key outcome of product uptake was calibrated using first direct’s real-world market share data to forecast acquisition volumes under each incentive strategy. Forecasts were then overlaid with first direct’s financial data to calculate the revenue and margin implications of each strategy.