Storytelling Through Onboarding
Splint Invest enables European private investors to diversify their portfolios with alternative investments.
The app serves as a platform allowing individuals to purchase digital shares in alternative investments, aiming to broaden the accessibility of this investment type to a wider audience.
Historically, such investments have been predominantly accessible to affluent individuals who can afford assets like whiskey barrels or luxury watches. With Splint Invest, one can buy Splints with a minimum investment as low as €50.
Problem
Splint Invest is a cool financial app that focuses on alternative investments. Usually, when we think of investments, we think of stocks.
But alternative investments are different. They let you own a piece of things like whiskey bottles and luxury cars. So, how do you explain fractional investing?
When the team at Splint came to me with this issue, it was clear that the current user flows weren't working. We needed to think outside the box and get creative to find a solution.
Hypothesis Testing
Storytelling can be a great tool when used effectively. I had a theory that if we created a fictional investment story and guided users through the investment process, it would help naturally explain different parts of the app.
But before fully committing to this idea, I wanted to quickly test it with real users. We started by creating basic designs to present the concept to the Splint Invest team. Once they approved the idea, we began working on the first prototype.
Around that time, Maze became popular, so I suggested using it along with user interviews to gather actionable feedback. Since Maze is a powerful tool, we utilized it for both purposes, collecting feedback from anonymous and actual app users.
The story
The storyline was crafted around three pillars:
Choose the investment category that sparks your interest.
We'll guide you through a simplified version of the page dedicated to that specific category.
The app will transport you to the future, revealing the potential earnings you could achieve.
Positive response
After doing the initial user testing we’ve noticed that people like the new approach to onboarding. Here are some of the feedback we’ve received.
This gave of confidence to develop this feature and push it live to all users of Splint Invest.
Overall impact
Working on the onboarding project was an enjoyable experience that encouraged fresh thinking.
Increased conversion rate
The onboarding process led to a 25% increase in first-time splint purchases, demonstrating effective communication of the app's value and message.
Less support tickets
As a direct result of the onboarding process, there has been a substantial decrease in the overall support overhead. This means that the need for assistance and resources to address customer inquiries and issues has significantly diminished.