Coinsquare - Increased Conversion
WEB, Mobile APP, web mobile · Conversion
OVERVIEW
The cryptocurrency boom in 2017 brought on a lot of new users to the platform. During this time the competitive landscape in Canada offered about 3 different platforms and users had to deal with long wait-times to become verified. In 2018 Coinsquare offered quick verification times (compared to other platforms) and competitors had similar on boarding experiences. As the market slowed down, Coinsquare and competitors saw a need to re-visit on boarding, as people grew more selective of the platforms they chose and the information that was required to provide.
ROLE
Led the research and design
TIMELINE
2018
FEATURE AUDIT
Dissecting the platform 🔍
Understanding the data & people
In order to understand exactly where our users were dropping off we analyzed through quantitative data which segments in our on-boarding experience people were dropping off.
What we found:
Lack of initial completion
More than half of our users drop off when filling out their personal information.
Even Lower numbers complete the form to verify.
We looked at more data to understand exactly where in the form people were leaving.
Filling out name
Filling out address information
Filling out occupation
With these points in mind we took to surveys and interviews to find out why people dropped off at these points, we created two personas that represent common mind frames and concerns.
On further inspection:
People were generally afraid of having their personal information in a platform that they weren’t sure as to what we’d do with this data.
The current design had a lot of visual inconsistencies, this made people feel unsure if we were legit — sure they had seen our commercials. But in the world of cryptocurrency people are generally cautious of giving out such personal details
We needed to be more transparent and use language in a way that helped people feel at ease in our platform.
How we understood the journey
To understand the experience of these two users better we created a user journey map to see where in the process they felt the most uneasy. We wanted to attract new users to our platform, people that had heard of crypto currency and were interested in trying it out. We recoded a typical new user journey in order to understand their mindset.
Competitor Architecture
We wanted to know what others were doing in order to understand how we could change. We looked at our close competitors, but also companies that have given users the trust in mind to store their very personal information.Through extensive competitive analysis we sought to see from their flows and e-mail communications to seeing how many steps it takes to fully complete the process.
Lack of initial completion
As the market slowed down Coinsquare saw a decline in number of users completing verification, at this time, we also launched into Europe and saw an even lower amount of people verifying. Account verification is important as it allows the people to begin buying and trading cryptocurrency. We also wanted to attract new users to our platform. Those who have had heard of cryptocurrency and were curious to try.
Considerations + Opportunities
Design sign up flow to match the rest of the platform (aesthetics).
Keep language consistent. We needed more personality to the e-mails being sent out as well.
Add more explanation as to what we’re doing with their personal information, keeping transparency high
Better sectioned information could result in filling out the form seem less daunting and long.
Remove 2FA from initial on-boarding flow, allow users to do this on their own time.
Better sectioning of the information that they needed to fill out.
Allow users to explore the platform before we ask them personal information.
More people signed up in mobile – let's tackle mobile web first.
New flow
New flow
© 2024 Laura Cisneros