Bitso App 3.0 (redesign).
Preface.
The previous versions of Bitso's mobile app were based on a few assumptions that changed as its own value proposition was refined:- Markets vs currencies. We assumed that users were interested only in markets (book pairs) rather than in currencies.
- Simple use cases. We assumed users should use only the mobile app to buy, sell, and hold crypto.
- Only crypto. We assumed there wouldn't be fiat-based products.
We knew that this app version was based on a monolithic navigation (too deep) with poor findability, yet users became regular users of somewhat hidden features (e.g., markets and activity).
[img: Monolithic navigation]
A series of events changed how we approached Bitso's mobile product:
- Seamless conversions. The ability to get any asset on Bitso required new entry points and a different buy/sell experience.
- New markets and products. As preparations to launch in Brazil and Colombia with new features and products progressed, the boundaries of the mobile app became more evident. We needed to make room to support interest-bearing accounts, Bitso Card, access to credit through collateralized loans, service payments, financial planning and goal tracking, and other assets, such as stocks and other securities.
All the above led us to new opportunities to expand product offerings, scale them accordingly, and maintain findability.
This project aimed to achieve our objective of building the next generation of borderless, consumer-focused financial services powered by crypto. We knew these financial services would require a lot of iteration and experimentation as we shifted from buying, selling, and holding crypto to a product that could address our users' everyday financial needs. By showcasing existing and new products and features, we knew we were on the right track.
Process.
We conducted collaborative sessions to gain a clear picture of the architecture and identify categories, such as holding crypto, buying or selling crypto, tracking transactions, and related to the user's account.After that, we created a lo-fi prototype. We conducted an unmoderated test with a small group of users, assigning them tasks to complete to provide insights into the effectiveness of the new categorization. The design intent was to add new products to the mobile application. We believed that users would continue to utilize features and perform tasks, and in the process, discover new ones. We proposed a different navigation pattern that repositions all features as they were, moving from monolith navigation to tab navigation.
[img: Lo-fi prototype]
We gather feedback from users and from internal teams. We iterate on the design and present it to users again. This time, we conducted remote live sessions with Bitso users.
We agreed on a design reviewed by every team involved in making that, and this solution impacted that.
[img: Final tab design]
We knew this required a lot of development efforts. So we work closely with the engineering team and all the teams that could be affected by all these changes. We also knew that our metrics would be affected by this, and we needed a way to track it.
We created a metrics dashboard to monitor behaviour compared to the previous design. We decided to treat this as an ongoing experiment until we were sure it had a positive impact on our metrics:
- Activation rates – measured by deposits made.
- Average revenue per unit (ARPU) – measured by conversions made.
- New active users retention – measured by any event performed.
- Non-organic mobile activation rates – measured by deposits made.
- Users making conversions – measured by the number of conversions.
Epilogue.
Initial results were astonishing. Seeing improvements over ~150% in some cases. Soon after these metrics settle.- Activation rates – a ~17% improvement.
- Average revenue per unit (ARPU) – a ~7.5x increase.
- New active users retention – a ~35% improvement.
- Non-organic mobile activation rates – a ~30% improvement.
- Users making conversions – a ~13% improvement.
Bitso App 3.0 (encore).
A rapid experiment was conducted to increase users' conversion rates. We held a workshop in which all team members proposed solutions to improve asset discoverability in the mobile app.
We leveraged App 3.0, which introduced a dedicated crypto tab. In this case, we decided to redesign that tab based on the assumption that the previous layout was difficult to read and identify cryptocurrencies' names, prices, and percentage variation.
We agreed upon a list, a proposal for a tile layout, that makes it easier to see cryptocurrencies and their respective price/variation.
[img: Crypto tab redesign]
The design launched as an A/B test on top of the App 3.0 project. Results suggested that the redesign improved conversions by ~40 the previous design.
*As of Feb, 2022, this project is live in production
← Go back