Problem & Solution
StockPe aims to provide educational resources for users to practice and learn investing accessible and understandable to a wider range of people, It provides a simulated environment where users can practice investing and develop their skills without risking their own money.
Initially, the onboarding drop off rates were very high as compared to it’s other competitors.
We conducted an audit based on both quantitative and qualitative information. The result of the audit provided us valuable insights to revamp the onboarding and decrease the user drop-offs.
Insights from Audit
We carried out a detailed analysis of the competition in the virtual stock trading and learning platforms in the market to gain a better insights about the StockPe’s position. We assessed the competitors on the basis of their offerings, interface and the overall experience they are providing from starting till end. Thus, the results of the analysis have been used to enhance StockPe’s offerings and maintain its competitive edge in the market.
Insights from Analysis
We started synthesizing and organizing the data obtained from stakeholders, users, audit, and market analysis into the patterns & then created user personas to understand our potential customer base and to present a more enhanced solution for them.
Information Architecture & Userflow
StockPe’s user flow begins with onboarding, where new users sign up and create a profile. Users can either choose to Learn, Play or Invest journeys to get started and then explore other journeys as well with their own pace.
Building a ranking system
Wireframes and Iterations
Before entering into final designing phase, we created wireframes to visualize the information hierarchy and determine the most effective way to present the information. Thus designing wireframes will ensure that the final product will have a clean and effective design, making it easier for users to access and understand the information they need.
Design and Deliver
The system used in the design of StockPe’s user interface includes several essential components, including a color palette, typography, and other design elements. These components work together to ensure that the platform has a consistent and cohesive look and feel. By establishing a design system StockPe can maintain a consistent style and brand identity across all screens of the platform.
To create an actual investment experience, StockPe has designed the concept of tournaments. In these tournaments, users compete with one another to build a strong portfolio and earn points. This not only enhances the learning process but also adds an element of competition to the platform. For further exchange of ideas, StockPe also provides a chat feature, allowing users to connect with others and discuss their investments and strategies.
StockPe aims to educate people including how and when to invest, opening accounts, and investment planning. With a focus on young people, the application utilizes gamification to make learning about finance and investing engaging and fun. Users progress through various levels by watching videos and answering questions from which they can earn points and use it for further investing opportunities in the application.
The application uses case studies to help the users to facilitate a deeper understanding of the complex topics. This method allows users to gain understanding of the stock market and investment strategies, making the learning experience more engaging.
Handoff and Q/A
The first set of screens were handed off for development and our team closely monitored it for the quality analysis. Our close collaboration allowed us to make any necessary adjustments in real-time and resulted in a polished and user-friendly application.
Seamless onboarding flow
Problem : Less conversion rate
There was a lack of hierarchical information, and the onboarding screens lacked progress indication, resulting in a significant amount of user drop-offs. We found the issue and addressed across all the other screens.
Solution : Increased conversions
To improve user experience, we redesigned the user flow and made the onboarding much seamless to ensure it is engaging for the users.
By redesigning the user flow and onboarding screens, we were able to reduce the drop offs by 10%.
Post release analysis
WebEngage helps us in keeping track of drop offs, bounce rates, average time spent, etc. The insights further help us in understanding user behaviour, and what works for them!
Result : Increased Conversions
Our design efforts have yielded significant results, with a rapid increase in customer conversion rates. Within a span of less than two months, the conversion rate jumped from 19.61% to 60.54%. These improvements demonstrates the effectiveness of our design in creating a more intuitive and user-friendly experience.
The StockPe application is currently live, and we are working with them closely to help them release new features and improve the product for its users.