Pelican’s new Profile page
Who and why
As I mentioned, to populate areas of Pelican you needed to follow users and join groups, but first you had to ask the why part. To answer the why, we leveraged our trade data to provide stats per group and profile. Basic but essential.
The result was exposing stats any beginner or pro could understand, in a defined area recognised across the app. How much is this person or group making now and how much have they lost in the past. Users could finally dig into a trader or group’s; profitability, points, and trade frequency. A concept so obvious it was a no-brain to implement. We even made awards and badges to add visual elements to answering those questions, but more on that later.
Screen from the new onboarding flow
While the Discover page provided competitive content. Data showed users really only wanted to see the content relevant to them. The best trader who didn’t trade crypto was useless to a user wanting to buy Bitcoin.
We found a user was 38% more likely to open a trade if they were in a group or following someone, and once you opened a trade the drop off rate was 55% less over 7 weeks. So when a user created an account we decided to ask them what they were interested in, we then automatically followed users and joined groups which matched their interests. They were instantly halfway down the funnel able to interact with content, without having to search for it.
We also decided to completely remove the sign up for a Live account option on the login screen. Users were more likely to take that step after they experienced the app. The best thing we could do was get users in, as quick as possible, interacting with content. Stripping down and streamlining those key pages proved key.
While an optimal front end experience is fundamental, users made it clear nothing mattered more than speed and performance. Over time we made sure to continually enhance expensive calls to APIs and reduce data drop-offs in order improve stream updates and user experience.
With every release we made sure to add equal measures of new features, bug fixes, enhancements and speed updates. Ultimately this led to more activity, which was great for the business, and provided more data we could capture, only helping inform front end design decisions. Slowly our process became self-sufficient.
New Badges on the Profile page
Small but powerful
Sometimes the smallest experiences can be the most effective. A great example of this is Badges. We implemented badges as a reward system to encourage activity.
Trading is all about numbers and graphs. When the opportunity arose to add something visual we all got very excited. While the implantation of badges could have escalated, it was important to maintain our 10% philosophy. We built it in a way to ship quickly but have maximum effect. We hid the badges until a user had made profits on trades, which not only helped users to quickly see if a trader is good but increased trade activity through small incentives wanting to see what they are and get as many as possible. We also rewarded users for other activities like commenting, copying and liking trades, causing increases in activity in other areas of the app. Simple, lightweight, effective and fun.