We wanted to increase the percentage of customers who invest regularly in the US stock market by lowering the barriers to entry for new customers. To achieve this, we first empathised with our customers by creating empathy maps and understanding their complete journey within our product. This helped us identify their pain points and develop solutions to ensure a smoother and more efficient process.
Our product lacked sufficient educational content, which was a simple problem to solve. While we had quality content on our website, such as engaging blog posts for customers. Once they signed up and entered the product, they were faced with a confusing array of investing options without any help content or explanations.
For those newbies who are complete novices to investing, we created the "Discover page", to bridge the gap between signing up and browsing stocks.
Themes were created to assist those lacking confidence or knowledge to pick their stock to invest in by themselves. We created different themes, including an all-in-one page and individual pages, to help newbies browse the different options available.
We made some changes to our instrument page (a stock page, like Vanguard 500 Index Fund ETF: VOO) to improve the user experience for our investors. One of the changes we made was to add in-context help to guide new investors through the process. We also restructured the page to make it easier for expert investors to scan the content without being interrupted by helpful content.
We tracked all customer interactions with these new pages in Intercom and saw a steady increase over time of new customers going from Step 1: Signing up to Hatch - to Step 5: Buying shares. We also saw a steady decrease in customers who signed up and left the buy funnel and never returned to Hatch.