Supported a major US-based forex trading platform in analysing user interaction and conversion bottlenecks.
Utilised mystery shopping to gather insights into the customer journey, identifying critical enablers and barriers affecting user engagement.
Enabled the client to enhance their digital interface and operational approaches, aiming to boost conversion rates and overall user satisfaction.
Sector: Financial Services
Service: Proposition Development
Background
Our client, a leading foreign exchange platform in the US, had recently increased its marketing spend. Despite this, they observed a decline in conversion rates across all customer demographics, particularly on app and mobile sites.
Key drop-off points were identified at the first application page and the point of funding after account creation.
The aim was to identify and understand the key enablers and barriers within the user experience of the client’s platform, and to recommend strategic actions to enhance user conversion rates across various stages of the customer journey.
Approach
Our approach involved conducting prospect-led mystery shops across multiple platforms, using guided sessions with prospective customers.
Through conducting real-life customer journey experiences and interviews, we could evidence specific features throughout the user journey.
We developed deep insights into the overall user experience, pinpointing significant enablers and barriers at different stages of the customer journey, and explaining the impact on the user.
Outcome
We identified key enablers and barriers, leading to 15 actionable recommendations aimed at simplifying the sign-up process, integrating more payment options, and enhancing platform navigation.
These actions enabled our client to improve user experience, helping to increase conversion rates and user satisfaction across their digital platforms.
Get in touch with Andy to see how White Space strategy can support your proposition development within financial services markets.
