Conversion rate was lower than expected. I needed to figure out why.
I started a working group with cross-functional partners, which I called "Operation Tailwag." The goal was to find ways to increase to improve CVR through initiatives focused on targeting, messaging, and product.
I heard two things from pet parents: a desire for more value, and a fear of not getting their money's worth.
Customers told me two things that didn't necessarily fit together. They wanted more coverage for expensive services like dental. But they also worried they wouldn't use what was already there. The obvious response – adding more coverage – could actually make the second problem worse.
Brainstorming a solution direction: how might we provide pet parents with more value in a wellness plan?
I led an ideation session with my partners on the product and actuarial team to determine how we could address this gap.
Exploring the solution space
Customization levers
New services/increased caps
Age-based plans
Using a product variant selector test to simulate performance in market
Using results to inform the third tier plan design
Product variant selector takeaways
Incremental increases mattered more than “complete coverage”
Dollars towards preventative meds drove more value than higher spay/neuter or dental caps
Including grooming consistently increased plan interest
Elite increased overall wellness conversion rate by 18%
The introduction of Elite resulted in a significant conversion rate lift across all plan tiers.
Notably, this lift was not driven solely by customers selecting Elite. Conversion increased across Essentials and Premium as well, validating our hypothesis that introducing a third tier would act as a value anchor, helping customers better understand plan tradeoffs and commit with greater confidence at every price point.