How we boosted the metrics of the investment management app using insights about users’ behavior


The explosive interest in investments among the mass-market customers has acquired lots of new users into apps of brokerage and investment management companies. Let’s see which approach to use in development and which qualities and features to focus on the example of our collaborative project with a big investment management firm.

We’ve conducted 3 studies that have helped synchronize the product strategy with the audience’s expectations in 3 areas: signing-up and first investment steps, newbies’ retention, and increasing portfolios of experienced investors.

Working with the insights of these studies has boosted the product metrics:

  • app downloads increased 5 times,
  • conversion into the first investment increased almost 3 times,
  • average bills increased 4 times.

The interface became more clear and more personalized: the number of questions asked via chat about products and investment mechanics decreased.

How to make sign-ups easier for beginners

New users aren’t used to the path: “Choose mutual funds” → “Sign up” → “Deposit money”. To help them find their way around, the app highlights the first step: it shows stories that step by step explain how to start investing, choose a product, fill in the application, and deposit money on the account. This info is also placed on the product page from which a customer starts signing up.

It’s not quite clear why the complicated application form and this amount of steps and data are needed for signing up: inconvenient input format, discreet buttons, and data duplication. We removed all the unnecessary actions to keep users focused, and the remaining ones were made clear and convenient. We highlighted required fields, added ID scanning, and offered convenient ways to sign up, including state ID systems.

Based on the results of A/B tests, we found out that users fill out the full name field 3% more if it’s three separate fields. When there’s a choice of how to fill in the data — 60% of users do it manually, 25% — via state ID systems, and 15% — by scanning their ID.

It’s not quite clear what to do after the sign-up and how to choose an investment strategy. The showcase lacks tips and hints on what to invest in now. We’ve implemented onboarding that includes selections “How to start for beginners”, started highlighting top-3 relevant investment ideas on the main screen, and added filters by currency, amount, and product type to the showcase.

How to motivate small portfolio investors

Usually, beginners don’t quite understand the specifics of investment via the investment management company, often download an app impulsively because of recommendations or ads, and only then try to figure out the product.

It’s important to keep in mind the motivation of the customer and clearly show that investments can be more efficient than deposits and other ways to save money.

For beginning investors that strive to understand the specifics of the product as soon as possible and evaluate its profitability, we implemented “The first 30 days” onboarding. During the first month, the app tells about the client's product in detail: what’s included, and how trusts and trust management work.

For clients with small portfolios the app tells about the “effect of small numbers” and why they should invest more money; for those who have one product in their portfolio — about diversification and prepared selections, for clients with no auto-fulfillment — about why regular investments are more efficient.

I'm How to build a personalized service for experienced investors

Even experienced investors can feel confused while searching for investment ideas, choosing the product, or analyzing profitability. Customers need more targeted communications and offer that take into account their behavioral specifics and investment ways. Usual selections aren’t efficient — they are considered ads.

Convenient and informative product cards, smart tips, and personal offers were of great help:

  • Clear sales points, a “Useful” section for beginners, info about the managing fund, a presentation, and a video about the product.
  • Tips help figure out what the numbers above graphs mean, when money was deposited, and how the price has changed over a period.
  • Recommendations consist of products that are chosen based on big data, portfolio composition, and users’ activity with similar behavior.

Overall, Markswebb researchers offered more than 300 recommendations for further development, more than half of which are already implemented in the app of the investment management firm.

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