Product Update №14
What we delivered this week…
GM fellow Lithions!
This week has been all about conversion. No, we’re not talking about Jonny Wilkinson sliding over two points for the mighty Lions (as in Rugby, for the uninitiated). We’re talking about something far more important — getting as many people as possible set up with Lithium accounts.
Good product features often start with a problem and a hypothesis on how to fix that problem. Our problem? We were capturing around 100 new accounts created every day (when we talk about an account here we mean someone signing their wallet on Lithium, which gives us information on who is interacting with our site). The issue, however, was that only about 20–30% of these accounts were inputting an email address.
This is a massive, missed opportunity. Despite all the advances in web3 and cool web3 email clients like Mailchain, good old-fashioned email is the best way to engage both potential investors and users with what is going on at Lithium.
We had a goal: getting that number up to 60%. We wanted 60% of all new accounts to have an email address associated with them.
A hypothesis accompanied this goal: if we make email sign-up easier and more obvious, we’ll improve conversion — sounds simple right?
Turns out — it is.
New Email Sign Up
We’ve changed our email signup flow. Before you had to click the Your Account page and enter your email. Initially, only our most engaged users did this.
Now, as soon as you connect your wallet, we put you into an email sign-up flow, which asks for your email and social handles to participate in Mission Control.
We also added a banner, which will show that your wallet is connected but you haven't put your email in.
The result of these two fairly minor (at least from a development perspective) changes is that we have increased conversion from 20–30% to 80%. Insane progress. Look at how excited Tom was about the news!
Another example of how small changes can produce massive results.