Magnifi - User Onboarding
Magnifi - User Onboarding
There were atleast 7 more iterations in addition to the ones above**
Background
I set out to enhance the user onboarding experience, aiming to increase platform subscriptions. The strategy was focused on streamlining the process for new users, ultimately improving key metrics at the bottom of the funnel.
I set out to enhance the user onboarding experience, aiming to increase platform subscriptions. The strategy was focused on streamlining the process for new users, ultimately improving key metrics at the bottom of the funnel.
Why did we need to change the current onboarding process?
Why did we need to change the current onboarding process?
With the introduction of the AI Assistant feature, the business and product underwent a transformative shift from being solely an investment platform to becoming an intelligence platform. This evolution meant that the primary objective was no longer centered around encouraging users to create brokerage accounts, but rather to engage with and experience the AI Assistant as a gateway to intelligent investing.
Consequently, the focus shifted towards driving sign-ups and subscriptions to this innovative feature, recognising its potential to deliver significant value. This strategic redirection proved essential, especially considering the cumbersome process associated with creating a brokerage account.
An overview of the earlier flow has been mapped below:
With the introduction of the AI Assistant feature, the business and product underwent a transformative shift from being solely an investment platform to becoming an intelligence platform. This evolution meant that the primary objective was no longer centered around encouraging users to create brokerage accounts, but rather to engage with and experience the AI Assistant as a gateway to intelligent investing.
Consequently, the focus shifted towards driving sign-ups and subscriptions to this innovative feature, recognising its potential to deliver significant value. This strategic redirection proved essential, especially considering the cumbersome process associated with creating a brokerage account.
An overview of the earlier flow has been mapped below:
The transition
The transition
To prioritise assistant into the core user experience, we explored several approaches, ensuring success by:
1. Providing clear context about the feature's purpose and benefits to drive user engagement, emphasizing its unique selling points.
2. Transparently communicating associated costs to prevent any misconceptions of it being a free feature.
3. Incorporating essential legal information regarding investment advisory and user responsibilities.
A few approaches we took before landing on the final design:
To prioritise assistant into the core user experience, we explored several approaches, ensuring success by:
1. Providing clear context about the feature's purpose and benefits to drive user engagement, emphasizing its unique selling points.
2. Transparently communicating associated costs to prevent any misconceptions of it being a free feature.
3. Incorporating essential legal information regarding investment advisory and user responsibilities.
A few approaches we took before landing on the final design:
There were atleast 7 more iterations in addition to the ones above**
Iteration 1
Iteration 1
Keeping the current flow intact and maintaining the familiarity of onboarding screens were our top priorities. We aimed to minimise disruptions while ensuring that the AI Assistant signup takes a prominent position, reducing the likelihood of users overlooking it.
There were a few cons which stood out which include a lack of context on the product offering, basic branding that did not convey a premium feel for the cost, and users being bound to a mandatory investment account creation in the resulting in an increased subscription time.
Keeping the current flow intact and maintaining the familiarity of onboarding screens were our top priorities. We aimed to minimise disruptions while ensuring that the AI Assistant signup takes a prominent position, reducing the likelihood of users overlooking it.
There were a few cons which stood out which include a lack of context on the product offering, basic branding that did not convey a premium feel for the cost, and users being bound to a mandatory investment account creation in the resulting in an increased subscription time.
Iteration 2
Iteration 2
Our focus in this iteration was to design a dedicated product page showcasing the top features of the AI Assistant, incorporating visual representations with screenshots and actual AI responses, and making this page the first touch point for users even before they sign up, redirecting traffic from all paid and organic ads to enhance engagement.
What did not work in this approach was the use of jargon that made the product offering unclear to users and a lack of engagement, with users expressing a desire to try the product for free before committing to a paid subscription.
Our focus in this iteration was to design a dedicated product page showcasing the top features of the AI Assistant, incorporating visual representations with screenshots and actual AI responses, and making this page the first touch point for users even before they sign up, redirecting traffic from all paid and organic ads to enhance engagement.
What did not work in this approach was the use of jargon that made the product offering unclear to users and a lack of engagement, with users expressing a desire to try the product for free before committing to a paid subscription.
Iteration 3
Iteration 3
Next, we emphasized combining the initial onboarding steps, integrating account creation and payment directly. Additionally, micro animations were introduced to enhance user delight, and the platform's credibility and safety were bolstered by showcasing awards and recognitions received.
Drawbacks included the excessive length of the page, with users frequently not scrolling through to the sign-up flows, and latency issues on mobile web caused by enhanced visuals and animations, resulting in a subpar user experience.
Next, we emphasized combining the initial onboarding steps, integrating account creation and payment directly. Additionally, micro animations were introduced to enhance user delight, and the platform's credibility and safety were bolstered by showcasing awards and recognitions received.
Drawbacks included the excessive length of the page, with users frequently not scrolling through to the sign-up flows, and latency issues on mobile web caused by enhanced visuals and animations, resulting in a subpar user experience.
There were atleast 7 more iterations in addition to the ones above**
Final Design
People were no longer required to create an investing account once they sign up and subscribe to the AI Assistant. The entire USP of Magnifi is now around unlocking intelligence provided by the assistant, where creating a brokerage account becomes a by-product of the offering. The assistant serves as a co-pilot in ones investing journey where they can track all their investments (from other brokerage accounts) within Magnifi.
This pivot in-fact increased the engagement activity within assistant (8,000 active users in the first 1 month and 48,000 unique users after 6 months) and simplified their onboarding journey into just 2 steps. It is now a progressional journey where users would be provided with all the intelligence, based on the information they are willing to provide.
People were no longer required to create an investing account once they sign up and subscribe to the AI Assistant. The entire USP of Magnifi is now around unlocking intelligence provided by the assistant, where creating a brokerage account becomes a by-product of the offering. The assistant serves as a co-pilot in ones investing journey where they can track all their investments (from other brokerage accounts) within Magnifi.
This pivot in-fact increased the engagement activity within assistant (8,000 active users in the first 1 month and 48,000 unique users after 6 months) and simplified their onboarding journey into just 2 steps. It is now a progressional journey where users would be provided with all the intelligence, based on the information they are willing to provide.
