The Business Challenge
IIFL faces challenges with low user engagement and transaction conversions in their research section. The design lacks discoverability and fails to attract users to explore valuable investment recommendations. To address this, IIFL needs to enhance user engagement by creating a more engaging experience that encourages users to interact with the content. They also need to improve discoverability to ensure users are aware of the available recommendations. Furthermore, increasing transaction conversions is crucial, requiring effective strategies to motivate users to act on the provided recommendations. Establishing trust and credibility is essential to overcome user skepticism and position IIFL as a reliable source of high-value research. Differentiating from competitors and showcasing unique value is necessary to attract users. Personalization based on user preferences and optimizing for mobile devices are additional areas that require attention.
• enhancing user engagement and interaction with the research content
• improving discoverability of valuable investment recommendations
• increasing transaction conversions by motivating users to take action
• establishing trust and credibility as a reliable source of high-value research
• differentiating from competitors and highlighting unique value
• personalizing the research section to cater to individual user preferences
• optimizing the research section for mobile devices to provide a seamless user
experience
Crafting the experience strategy
To address the business challenge, we formulated a comprehensive experience strategy leveraging the following key elements:
• depositioning through Gamification: Rebranded research section
as Gemrush, leveraging gaming app inspiration and associating
gems with high value to captivate users attention and entice
exploration.
• dynamic Gem Refreshes: Implemented a dynamic browsing
experience with content refresh every 30 seconds, unveiling five
new investment recommendations, fostering serendipity, and
encouraging frequent returns.
• entertainment-Inspired Design: Adopted an interactive and
visually stimulating design reminiscent of popular social media
platforms like TikTok and Instagram.
• animated cards with varying sizes and engaging descriptions
showcased investment recommendations, aligning with users
preference for excitement and quick decision-making.
Unveiling Behavior and Investment Preferences: Through thorough research and analysis, we gained valuable insights into user behavior and investment preferences. Users were more likely to engage and transact when presented with visually appealing and engaging investment options. By aligning Gemrushs experience with users investment decision-making processes and their preference for visually stimulating content, we aimed to enhance user engagement and drive transaction conversions.
Igniting Curiosity and Exploration with Aesthetics and Compelling Options To encourage users to explore Gemrush, we implemented an enticing onboarding process. An animated gem button with a noticeable red dot notification was prominently displayed, creating a sense of curiosity and prompting users to interact. Upon pressing the button, users were treated to an animation that conveyed the concept of uncovering valuable gems. This initial interaction aimed to generate excitement and motivate users to delve deeper into the Gemrush experience.
Experience Innovations
Gemrush introduced a novel approach to investment research by infusing elements of gamification and entertainment into the user experience. The repositioning of the research section as Gemrush and the use of gems as a symbol of high value transformed the perception of the product, making it more enticing and exclusive. The dynamic gem refresh feature added an element of surprise and discovery, keeping users engaged and encouraging repeated visits. The entertainment-inspired design, with animated cards and engaging descriptions, brought a refreshing and engaging browsing experience to the world of investment research.
Outcomes Delivered
The rebranding and gamification strategy led to a significant increase in user engagement and exploration of the Gemrush section. Users were more likely to stay on the platform, resulting in a reduction in bounce rate and an increase in the number of transactions made through Gemrush. The dynamic gem refresh feature increased user retention and repeat visits, creating a habit of checking for new investment recommendations.
The entertaining design and presentation of investment options appealed to users emotions and impulsive decision-making tendencies, leading to higher conversion rates and increased transaction volumes. Gemrushs innovative approach and enhanced user experience resulted in industry recognition, including winning the Innovation Award, and positioned IFL as a leader in delivering cutting-edge investment research solutions.
