Form tracker that explains next steps: +20% conversion rate
Commentary byLiftArchiveOur analysis, not theirsHomEquity Bank replaced the progress tracker on its inquiry form with a next steps tracker that explains what happens after submitting, and saw a 20% lift in conversion rate.
The bank's digital team ran the test, and it was published as a MarketingSherpa case study in 2017. HomEquity Bank sells the CHIP reverse mortgage to Canadian homeowners aged 55 and older.
- Conversion rate: +20% compared with the plain progress tracker.
- This came after a 35% lift from adding the original progress tracker.
- No sample size, duration or confidence level was shared.
The change
The progress tracker becomes a tracker that also shows what happens after submitting.
Simplified mockup drawn by LiftArchive from the shared screenshots.
Control
The multi-step inquiry form with a progress tracker showing where the visitor was in the form.
Variant
The form with a next steps tracker that also showed what would happen after the inquiry was sent.
Why it likely won
Our reading of the result, not the practitioner's claim.
- People asking about a reverse mortgage want to know what they are signing up for, and seeing the next steps answers that.
- Showing the process past the form makes submitting feel like a small, known step, not a commitment.
- The bank found trust was a strong motivator for its older audience, and clarity builds trust.
Caveats: The source does not show the exact wording of the next steps or describe the test setup, sample size or duration. The audience is Canadians aged 55 and older.
Who ran it
HomEquity Bank ran this test and published the results (MarketingSherpa case study). The numbers are theirs; the summary and commentary on this page are ours.
Read the original case study on HomEquity Bank →
How to run this test on your site
- Hypothesis
- If we show what happens after the form is submitted, then more visitors will submit because they know what to expect next.
- Primary metric
- Form conversion rate
- Guardrails
- Lead-to-contact rate
- Drop-off at the final step
- Sales call show rate
- Who should test it
- Lead-gen businesses where an inquiry starts a longer process, such as a call, a quote or an approval. It matters less when the form delivers something instant, like a download.
Questions
Should a lead form explain what happens next?
It often helps. HomEquity Bank saw a 20% lift when its form tracker showed the steps after submitting.
What should a next steps message include?
Who will get in touch, how and roughly when.
Keep it short and place it near the form.