Generative Research
A research trip to gain first-hand knowledge of what’s happening on the ground.
Situation
Jetty Deposit (security deposit replacement) product is distributed through a network of partner properties. The product was designed and implemented as a one-size-fits-all solution for our partners. Because we had never taken the time to understand our partners’ workflows, we didn’t know if this one-size-fits-all approach was working. We wanted to learn how Jetty fits (or doesn’t fit) within various partner workflows. Our hypothesis was that identifying opportunities for optimization will result in a Jetty product that leads to higher take rate across all partners and properties.
Questions
How do leasing agents facilitate the conversation and flow of information through the application process?
What systems and 3rd party players are involved during renter application & approval? What does the data/info look like?
What do leasing agents ultimately want? How would Jetty One offer creation fit most naturally into their workflow?
Where does Jetty fit in ? (How are we offered? How do we fit in the workflow?)
Prompt
Interview leasing agents at the partner properties to find out how Jetty fits into various leasing processes.
The Leasing Process Map
Highlight
Same steps — different tools and rules.
While the steps in the leasing process are the same across properties, tool sophistication and managerial styles vary.
Highlight
Leasing agents are selling Jetty Deposit. Jetty Deposit is a fit for low & mid income properties.
Leasing teams love Jetty Deposit because the value prop of “lower move in costs” is clear to applicants and helps properties increase occupancy rates. Jetty Deposit is for renters who can’t afford large move in costs. Guarantors or paying traditional deposits aren’t options for them.
Highlight
Selling is simple—but what happens next?
While the value prop of the sale is clear, leasing teams are struggling to explain how the product works post-purchase and how/when to file claims.
Highlight
Jetty’s property tools are lagging behind the competition.
There is clearly some pain associated with offering Jetty. However, leasing teams are currently willing to put up with it because they love Jetty Deposit so much.
Impact
The insights from the research trip squashed the idea that Jetty needs to get around the leasing agents to offer the products in order to scale. The research finding suggested they love the value proposition and use Jetty as an effective sale tool to close more leases. As long as they exist as an integral part of the leasing process, we need to embrace them as a valuable partner in offering Jetty’s products. A few other ideas and recommendations ended up getting into the product roadmap.
Audience
Internal Teams
Team & Roles
Product Design: Nick Rudemiller, Paul Chun