We knew we had a very specific and targeted problem on our hands, one that would lend perfectly to a design sprint. The design sprint framework helped us structure our client onboarding through processes like “Ask the Experts” and “How Might We” notes.
This information enabled us to start sketching, prototyping, and ultimately testing with current and potential Wealthsimple customers quickly. The feedback led to valuable insights which informed our design decisions, and through this we were able to hone in on a solution we knew had the most potential to increase conversion.
On the desktop where you have lots of space to play with, you can sometimes get away with longer forms. People are likely at home, so they can go collect the required information and continue along. But on mobile, you’re dealing with a completely different set of constraints. People could hypothetically sign up anytime, anywhere, and have little or no prior investment knowledge or familiarity with the Wealthsimple brand.
People were signing up and funding their Wealthsimple account on the website at a conversion rate 5x that of it's mobile counterpart. Yikes! So, what’s a startup to do?
Wealthsimple asked us to rethink how they should onboard users on mobile. The plan would be to conduct an A/B test our new experience against the original one.
The new onboarding flow was personable from beginning to end, with a friendly tone and design. Form fields were now split up so that users only focused on one field per screen. We also made it easier for users to grasp the app’s core value proposition by building a cost and investment growth calculator directly into the onboarding flow.
We exceeded their goal, raising the conversion rate of sign-ups to new customer accounts by 5x. We also increased conversion for other key parts of the onboarding experience, such as increasing the user registration rate by 2x.