Better.com·Product Manager·Onsite - Product Sense / Strategy·Senior

SeniorPrefer not to say

Jul 2026

Summary

Interviewed at Better.com for a product role, got hit with a classic conversion funnel question that sounds straightforward but has a lot of layers once you start pulling on it.

Questions Asked (1)

How would you improve the conversion rate from loan approval to actually taking the loan?

Product Sense & IdeationProduct Analytics & MetricsProduct Strategy

Author's notes

I went straight to friction points in the post-approval flow, things like confusing rate lock timing and too many steps before disbursement.

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AI HintsAI Generated

Suggested Approach

Start by defining the conversion funnel from loan approval to funding, then identify the key drop-off points and their root causes. Propose targeted improvements based on user research and data, and prioritize them by impact and effort. Finally, outline how you would measure success and iterate.

Pro tip: Emphasize the importance of understanding the emotional and psychological factors that cause hesitation after approval, such as cold feet or competing offers, and suggest solutions like personalized follow-ups or limited-time incentives.

1. Define the Funnel and Metrics

Map out the stages from loan approval to funding, including user actions and time delays. Define the key metric: approval-to-funding conversion rate, and segment by user type, loan amount, etc.

2. Identify Drop-off Points and Root Causes

Analyze data to find where users drop off. Conduct user research (surveys, interviews) to understand why—e.g., confusion, competing offers, rate concerns, or process friction.

3. Generate and Prioritize Solutions

Brainstorm improvements across the user journey: communication, incentives, process simplification, and support. Prioritize using an impact/effort matrix, focusing on high-impact, low-effort wins first.

4. Design Experiments and Measure Impact

Propose A/B tests or pilot programs for top solutions. Define success metrics (e.g., conversion lift, time to funding) and ensure proper tracking.

5. Iterate and Scale

Analyze experiment results, learn from failures, and scale successful initiatives. Continuously monitor and optimize the funnel.

Key Points to Mention

Funnel analysis and identifying drop-off points
User research to uncover emotional and rational barriers
Personalized communication and follow-up strategies
Incentives (e.g., rate discounts, closing cost credits) to create urgency
Process simplification (e.g., digital document signing, clear next steps)
A/B testing and metrics to validate improvements

AI-generated suggestions, not part of the candidate's original notes. May be inaccurate — verify before relying on them.