How we’ve increased conversion from 2,2% to 10,9%
Everyone knows this problem — a lot of traffic on the website, yet very few people actually do something meaningful.
This is a story about using simple tools and focusing on people’s needs. And about revenue that increased 20 times. Yes. 20 times.
Get Line is a growing peer to peer lending platform with adjustable bitcoin credit and simple solutions to directly invest in other people. The users are able to lend and borrow money from one another without the involvement of banks and large financial institutions. Early version of the service has managed to receive Startup Weekend Fintech Jury award.
Thanks to constant involvement of the founders in the Bitcoin community, Get Line website was receiving a good amount of traffic. Yet the vast majority (almost 98%) of people did not perform any meaningful action — didn’t register or login into the service. 2,2% conversion wasn’t enough to quickly grow the service and the founders weren’t satisfied with it.
A good brainstorming session is always a great place to start. Then, thanks to tools such as Value Proposition Canvas and Customer Journey Canvas, we’ve managed to identify the core values that are important and convincing for potential customers. We’ve also designed a journey that each visitor should experience to become a Get Line user.
The next step was to create a new landing page. Our tasks included creating the information architecture, writing the copy and finally building the website itself. After the first month the conversion increased from 2,2% to 5,2%. A convincing website, good copy and thoughtful user journey increased the engagement, the number of registrations and also — logins. In May 2016 the conversion was at 10,9%. The users were more eager to use the platform, were more engaged which in turn increased the commissions collected by the platform — to this date to revenue has increased 20 times.
We are flame. We help good ideas grow. Challenge us!