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Prosper’s mission is to advance financial well-being. The company’s online marketplace lending platform connects people who want to borrow money with individuals and institutions that want to invest in consumer credit. Through Prosper’s flagship personal loan marketplace, borrowers get access to affordable fixed-rate, fixed-term personal loans. Investors have the opportunity to earn solid returns via a data-driven underwriting model. To date, over $16 billion in personal loans have been originated through the Prosper platform for debt consolidation and large purchases such as home improvement projects, medical expenses and special occasions.
The Challenge
The Prosper product team needed a faster way to integrate analytics and marketing tools. Analytics are only one part of the team’s responsibilities, so it often had to prioritize product improvements over embarking on lengthy vendor installations.
As a result, when the marketing department requested it install Adobe SiteCatalyst, the product team had to delay it for months before it could set aside the time to properly instrument the service.
The Solution
Using Segment as its customer data platform to collect, translate, and route its analytics data to all of its third-party analytics tools, Prosper empowers teams to turn on the tools they need with a flip of the switch.
When the Prosper team found Segment, it decided to stop working on the direct Adobe Analytics integration it had been exploring with for months, and use Segment as its customer data platform to collect, translate, and route its analytics data to all of its third-party analytics tools.
It took one week to install Segment, and then the marketing team was able to turn Adobe SiteCatalyst on in a matter of minutes. Beyond Adobe SiteCatalyst, Prosper also received instant access to new tools for live chat, a/b testing, funnel conversions, and social media campaigns through the Segment control panel.
The Results
Because Segment reduces the vendor installation process from months to minutes, Prosper has been able to quickly and easily get started with Adobe SiteCatalyst, test competitors and trial new categories of tools.
Turning on and off services is so easy that the team activates some analytics tools only for the duration of marketing campaigns. For example, it turns on a live chat service when it releases new landing pages, and turn it off again once it has received enough feedback.
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