Buy the Dip :: Rethinking the whole concept
After a while, many investment platforms start to feel similar, right? People get used to certain patterns, which is fine, but sticking to old methods can sometimes feel like holding onto horses when wheels could drive progress forward.
Even though we introduced the Buy the Dip feature a bit later than others, we wanted to get it right. This meant starting from scratch and really thinking about how to make it better. While the final core experience ended up looking similar to what others offer, I introduced some new concepts that truly captured the essence of Buy the Dip, leading to great user engagement.
PROJECT DURATION: 5 DAYS
MY ROLE:SENIOR DESIGNER
What is Buy the Dip by definition?
Purchasing an asset when its price has dropped, hoping that it will eventually increase in value. It's like taking advantage of a sale or discount when prices are lower than usual with the expectation of selling it later for a profit
What are traits of these users who regularly use Buy the Dip on any platform?
As they are mostly willing to wait holding their assets for a long time
Having some knowledge or research about assets they are buying
They have confidence that market will rebound after a dip
They are comfortable with the idea of market fluctuations and are willing to accept short-term losses in the hope of long-term gains
Even the best ideas in textbooks have their flaws, right?
Underlying Ethos of the Design Approach
Heading 6
- Help the user take advantage of potential investment opportunity
​
- Risk disclosure and minimise risk by things like nudging them to put SL or put a limit
- Allowing them to benefit from the feature while serving as a potential decision obstacle if it turns out to be a poor choice
- Make the process as easy and quick as possible
- Give assurance that funds parked for BTD are safe and accessible anytime
- Inform them regarding the activity around BTD and also about potential opportunities like when a asset price continues to go down
Know what’s happening in the field to stay in the lead
I conducted a quick competitor analysis to understand their approaches and to seek inspiration. I specifically looked for how they might be addressing the shortcomings I identified earlier. To my surprise, most products focus primarily on user actions but don't do much to bring awareness to new users or help them make informed decisions.
Framework for Pinpointing User Intent and Generating Stage Specific Ideas
Framework for Pinpointing User Intent and Generating Stage Specific Ideas
Below is a framework I created to track how interactions unfold between the end user and the product. By capturing user intent at each stage, I was able to generate targeted ideas for enhancing the user experience. This proactive approach also allowed me to address edge cases early, avoiding the need for last-minute changes.
Play Video :)
All this learning certainly helped us address the shortcomings we talked about from the get-go
- Informing user when he/she is setting up BTD for fundamentally poor coin
- Creating some entity that defers the ratio of BTD orders placed on a coin helping the nubile user to make a informed call
- Nudging them to set up Stop Loss to minimise losses
- Sending them notification for initial days if there’s a price decline trend maybe
- Send them notifications and emails when price declines (for watchlisted items),
trend in lot of users setting up BTD orders
- Make it easy for users to access locked funds
- Complete freedom to cancel BTD anytime
- One place to access and manage BTD orders
- No. of users setting up this order
FEW GOOD IDEAS THAT REALLY WORKED AND YOU WON'T FIND ON ANY OTHER INVESTMENT PLATFORMS
Good Design Always Informs
The intent is to help users understand what they’re getting into and make informed decisions before placing an order. Rather than pushing users to invest immediately, setting clear expectations allows them to think things through. This approach builds trust and increases the likelihood of users committing to Mudrex for the long term.
Turning Waiting into Wisdom
From a user’s perspective, buying the dip means putting money aside for a future scenario where the timing of order execution is uncertain. It’s natural for users to want to question, edit, or cancel their order while they wait. This approach aims to reassure them, explaining the reasons for the wait and what they can do about it
Mitigating Risks
Buying the dip can be a great investment opportunity, but given the volatility of the crypto market, there’s always a risk of losing more money. It’s crucial to provide users with a safety net to help them make the most of the Buy the Dip feature while protecting their investments. The concept below addresses this by nudging them to set up Stop Loss feature, which allows users to set a limit on their potential losses, giving them better control and peace of mind
In The Same Boat
Understanding that users often feel tense when investing their hard-earned money, it’s important to show them they're not alone. This is a chance to share what others are doing and help users stay on track. The idea is to provide contextual information tailored to different user types. We experimented with various messages in the same space to find the most effective approach.
Visual Design
Below are few Visual Design Screens to give you a feel of how it looked like
63%
Invested users used Buy the Dip in first 3 months after launch
Easy to start with
Common response of first time users from User research
Confident
Users claimed they feel confident while ceasing the opportunity
Takeaways &
Learnings
Value of Simplicity
Sometimes, the simplest solutions can have the greatest impact. Strive for clarity and ease of use in designs.
Think beyond Basics
While it's tempting to follow industry standards, innovative solutions often arise from reimagining fundamental concepts and addressing unique challenges.