10 Things to Note Before Onboarding on any Cryptocurrency Trading Platform In 2019
By: Michael Usiagwu
Tags: Cryptocurrency Investment, Trading, User Experience, Onboarding, Technology

Onboarding is the process of making active customers out of users of your product or service. For a company to be able to win new customers, its onboarding process must be top-notch. And in a world where one can expect up to 90% of cryptocurrency startups to fail, being among the succeeding 10% would take extra effort.

The same principles guide the various onboarding processes across the board. But an emphasis on cryptocurrency is necessary because of its uniqueness. Despite the now-growing popularity of digital currencies, many still don’t know how they work because of the complex nature of cryptocurrency and blockchain.

It should be noted that when it comes to onboarding, the organization can only have guiding principles but not hard rules. That’s because each company is unique in its own way and has to adapt its strategies to its areas of strength.

Here are 10 principles to help businesses easily convert traffic to converts and sales.

Simplicity

The typically complicated nature of cryptocurrency and blockchain is a turn-off for many and has slowed adoption. Therefore, cryptocurrency platforms, especially a crypto platform that offers revolutionary solutions to businesses, investors, and individuals, will have a great edge if it focuses on simplicity. This is not just about simplicity in design but in the overall process of using the platform. New users should not feel overwhelmed when they come across your product else they will leave.

Customer is King

In planning an onboarding process, use one that is well-tailored to the users’ needs. You may determine this by using different methods of analytics and also tracking customer actions on your platform.

When it comes to cryptocurrency, people really just want to buy and sell the currency. Anything that doesn’t meaningfully contribute to that is mere garbage.

Active Research and Analytics

Before you begin planning onboarding at all and, perhaps, wasting your efforts, it is good to spend a great deal of time doing some market research. Determine the kind of environment and market that ensure the growth of your product. Learn about potential customers’ needs.

Find out things your competitors are doing wrong and make those your selling points. Even after kick-off, perform analytics to know which actions lead to the conversions and if a change is necessary. Not knowing that is one of the onboarding mistakes to avoid.

Show and Tell

Onboarding is not just to get users to start utilizing your product; it is to show them how in a simple and non-intrusive manner. Instead of too many screen-by-screen walkthroughs which are boring and arduous, short video tutorials and animations would be better to effectively explain all you want to.

You know how valuable your product is and what it does, but the real question is: do your customers?

Educate

For a cryptocurrency platform, it is important to build your onboarding around ensuring that new users are quickly acquainted with the services you offer. While you will have many pro new users, consider that a significant chunk of your user base would consist of cryptocurrency newbies.

Therefore, build your onboarding around educating them about the functions of your platform. That is the more reason why you have to keep onboarding very simple.

Engage with your Users

Onboarding should not be a process that is just about the organization alone. The user too should be actively involved. While showing and telling, asking the users to repeat the processes explained would make for a better experience.

Form a Forum

Communities (including online ones) are very good. You can create a network of people who use your trading platform and give them an avenue to discuss, seek help, and banter. Online forums give people a sense of belonging and makes users more likely to stay on as lifetime customers.

Personalize it

If there were a perfect onboarding process, it still wouldn’t sit well with every single user of your product. As a result of that, it is important to make the experience unique and personal for each person. That doesn’t mean creating a different onboarding process (really?) It means ensuring that the process leaves some impact on the user. You surely know what they say about first impressions. Make sure you know your customers. Top executives like Matt Sornson recognize the importance of making onboarding personalized.

Request Feedback

And yes, it still works. But as mentioned earlier, keep things simple and short. Don’t make your customers start feeling they are sitting for an examination when you give them a lengthy list of questions. You may trigger them to rate your product and leave a review but be sure it is also in a non-intrusive manner.

Selling Points

Structure your selling point about how trading with you would help the customer. No one really wants to know what your software can do if its features won’t eventually be of help to them. This tweet by Jason Fried of Basecamp years ago sums it up:

Conclusion

Many make the mistake that onboarding ends when a user signs up for a paid subscription of your product. That is somewhat true, but ignoring everything after that is a disaster. Even after signing up, onboarding still continues and you owe them good treatment. Customer is king, right?