Elevating Product Confidence
UX Research
To promote our new investing application, Nemo, I created a responsive website making product information easily available to the public on the internet. I initiated a series of research studies to maintain clear and engaging content in order to ensure the website effectively conveyed the value and safety of our application to our target audience.
In our latest findings, we discovered that most users are highly influenced by other people, they are more inclined to see how the others using our product, positive word-of-mouth plays a critical role in boosting user confidence and driving product success.
Good user reviews and ratings serve as a strong indicator of a dependable and trustworthy product. In view of this, our team allocates efforts in collecting user reviews to drive product improvements and deliver a delightful user-centric experience.
Previous Findings
The previous rounds of research studies I conducted have given us the direction of what content we should focus our efforts on that can give user confidence in using Nemo:
- Data security
- Pricing
- Company background
We also learned from users’ reading habit and how we should present contents:
- Bite sized content to skim, provide details to read if interested
- Provide different media contents to cater different content consuming preferences
The Latest Research Study
After implementing the improvements on the website, I conducted another round of research study to find out:
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Does the improved contents meet users’ needs and expectations?
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Does the content on the website give users the confidence to use the app?
We recruited 5 millennial users in the UAE who are looking to invest in publicly listed stocks to a ‘Think out loud’ study on UserTesting.
Insights of improved contents
We presented the improved content to users and asked them to rate the content from 1 to 5. We learned from users how to further improve the contents.
1. Data Security content
“Although it sounds legit, I’m not sure I fully understand it.”
“Especially in a section that talks about security, I want more facts that instill that sense of confidence.”
Insights
Excessive use of technical terms can lead to confusion. Striking a balance between providing detailed information on Nemo’s security and presenting it in an easy-to-understand manner is essential for effective communication with our users.
Improvements
- Rewrite content in simple terms
- Include additional information for users who want more details
2. Pricing content
“How does securities lending work? I want more details to know better.”
“For someone who is not in the financial space may not know the technical terms so well, would not be 100% sure about the credibility.”
Insights
Most of the users strongly agree with the statement and value our transparency. Similar to security content, we need to make a right balance between details and write the content in an easy-to-understand manner.
Improvements
- Rewrite content in simple terms
- Include additional information for users who want more details
3. Company Background content
“I want to know the name of the parent company and a timeline of the development process to get a feel of how much effort they are putting into it.”
“Add a section of your team and your product vision.”
Insights
Being transparent on the parent company and the team who is developing Nemo would increase users’ satisfaction. Users care about the efforts we made to the product and our long term vision as to how to support users needs.
Improvements
- Include our parent company name on the website
- Add a section to talk about the team working behind Nemo
- Make our vision visible on the website
Product Confidence
We saw the power of people’s influence plays an important role in elevating product confidence. We asked users to choose the top 5 considerations with the below options when choosing an investing app.
First priority consideration among 5 users:
3 users – The app is regulated by local financial authority
1 user – There are many positive reviews from other users
1 user – I know my money is secure in the platform
Although user reviews not in everyone’s top priority, 4 out of 5 users said positive user reviews give credits to the app.
At the end of the study, we asked users to rate the content on the website overall.
“I want to speak to a few people to see if they have heard of it, or by word of mouth if they have used it personally. If there’s any recommendations and testimonials that I can get my hands on to be able to drive more confidence in what I have just seen.”
Our website might have great information about Nemo, but users might see it as just us talking about ourselves without proof. We’ve noticed that people trust other people’s opinions a lot. To make users feel more confident about our product, we should think beyond the website to find ways to show how other users talk about us positively.
How might we elevate users’ confidence in using the Nemo app?
To improve the user experience and foster confidence in using Nemo , we can:
- Offer multiple opportunities for users to share their thoughts at critical stages, such as after trading, making a payment, or favoriting a stock.
- Incorporate feedback modules in articles and stocks to gather user opinions.
- Actively listen to user feedback and continuously enhance Nemo’s features and performance.
- Showcase positive user reviews, rewards, and media coverage on our website, via email, and through social media platforms.
- Provide regular product updates to demonstrate how we’re tailoring Nemo to better meet users’ needs.