Hypothesis: Allowing users to trade their existing holdings for new holdings will increase average transaction per customer. Allowing trading will also grow customer base of users who want a lower risk commitment wherein their private equity shares are not indefinitely locked up after purchase.
I conducted a user interview, wherein I shared an iteration of the feature and asked users questions about the design, as well as their investment preferences. Specifically, I explored scenarios where a price change may occur, and how we could offer transparency and flexibility to the user to encourage trust and usage of the feature.
While adding the ability to trade/pay with shares solved the core problem for the user, I wanted to be sure that the feature was discoverable and that we accounted for education along the user journey.
I drafted content cards for use throughout the user experience to accompany this feature launch.
Adding “Trade” to the navigation could be impactful but would have many impacts and implications to different aspects of the experience, and thus be a larger lift solution
Redirecting from the existing sell flow could confuse users, and might not be as impactful as other solutions as more users go through the main purchase experience than the sell experience.
Showing holding as buying power in wallet could also become confusing, and would probably be less impactful than other solutions, but an iteration of this idea might have value in the future.
I explored other ways of showing sellable shares as buying power, but these ideas were passed on for now for concerns they would confuse users.
The product tour was a front-runner for a discovery solution, educating the user at the point of transacting. However, concerns were raised about the obtrusiveness of this type of experience, and because so many other things were being tested in the UI, plans were made to come back to this once a simplified purchase experience was launched (the second part of this case study).
In-product A/B Testing of an additional button was a low-lift way to introduce users to the feature, without distracting form the core experience.
Hypothesis: Some users are not completing transactions because of the perceived number of steps, Simplifying the UI, including defaulting some options, will minimize cognitive load, and lead to quicker, and more often completed, purchases.
The original experience required the user to view all of the selectors (discounts, entity, payment method) on the same page, creating a long scroll and potentially a feeling of overwhelm for the user.
The new journey removes friction by not requiring user to sequentially view all selectors and allowing the user to quickly finalize the purchase. This flow still allows the user to customize the transaction, if they want.
Location: United States
Education level: College graduate
Annual household income: Over $100,000 / year
Financial products: Stocks/shares
Installed mobile apps: Financial
60% of users preferred the simpler UI design.
Most users successfully completed the usability test of the simpler flow, finding it an easy to use feature and saying they would use the feature in real life.
Content is simplified so that the page is now easily skimmable, and entirely viewable “above the fold.”
