Redesign NFT referral: strategies for driving platform growth
LAUNCHED ∙ GROWTH DESIGN
BatchTransfer, a decentralized application that enables users to transfer NFTs and cryptos to multiple wallets in a single transaction. I joined this NFT startup in Feb, 2022. At that time, we just built up a few months ago. Our major challenge was how to compete for users with competitors like Multisender & BulkSender which had been active in the market for over 4 years.
As the only designer, I designed and shipped 3 products in close collaboration with engineers, PM, and co-founders. My 1st task was to ship a new version of BatchTransfer in 1.5 months. This case will focus on how I redesign referral experience. After this iteration, we are now the 3rd place in the NFT transferring industry in the world.
CONTEXT
MY ROLE
Design Lead, UXR
TEAM
With 1 PM, 5 Engineers
TIMELINE
1.5 months
OVERVIEW
My task & Business Goal
To increased the number of referred people who complete their 1st trade (conversion rate) from 1.4% to 2.3% in 8 months.
Impact
3rd
place among top apps in global NFT transferring industry - from top 25%
2.9%
conversion rate - exceed our goal 2.3%
5 times
user base increase after 8 months
95%+
CSAT in 3rd party collection
PROBLEM
Fragmented referral experience
Only 1.4% revenue growth came from current referrals. Over 40% of customers mentioned our referral is “fragmented”.
01
Too much friction
There’re still a few steps to complete referral. Too much friction causes low motivation to refer, and is suboptimal for growth since we can’t track actions that users take in native share sheet once it’s triggered.
02
Hard to find
Although decentralized entry points have many pros, 72% of participants agreed that they easily ignore the referral link, partly because they are focusing on the main task on that page, such as NFT trasnsferring.
HMW make sharing BatchTransfer with friends intuitive & rewarding
DESIGN CHALLENGE
Design a new Referral Tracking Model
The team decided to add 2 new features, and more complicated information architecture caused the challenge: how to integrate our referral experience into new system. To ensure system-wide feasibility & consistency, I started to design a referral tracking model.
SOLUTION
1st Round Concept Exploration
I conducted research and a competitive audit of 20 NFT transaction websites to see how peers present referrals. After defining design options, I discussed with cross-functional stakeholders and received their early inputs.
WHERE TO ADD Referral
- Eng: Landing page requires high-traffics, referrals can cause the extra load - PM: No place to track can hurt motivation +PM: Landing page takes 90% of CTR
A. Landing Page’s Footer
+ Nothing to scroll can force users to take desired action instead of getting distracted + PM: main hub with more room to explain + Testing shows it’s most likely to be noticed
B. A Separate Page in Navbar
HOW TO MINIMIZE Friction
1.Social share options: Localize options based on users’ location. Stick to core choices to avoid choice overload.
2.Auto-filled message: To avoid making users think how to refer, and encourage more potential advocates to invite friends.
3.Shorten terms copy
V1
1.PM: Straightforward value proposition
Make the text short, relevant, actionable to quickly convey the value of referral of offer.
V2
2.Eng: Use familiar pattern in CSS library
Vertical social share sheet isn’t in current CSS library and deviates user’s familiar pattern.
2nd Round Iteration
To validate our concept, I partnered with my PM to conduct a quick Usability Testing. We observed 5 participants invite a friend to join BatchTransfer, and asked some questions.
Users showed confusion about “no share button” and the need of dedicated place to track referral-related numbers in total.
Before
I split, prioritized share & copy buttons to optimize CTA. Add a real-time counter of referral trackings to motivate users.
After
OUTCOME
We’re 3rd Place in the world now
8 months after launch, we jumped from top 1/4 to No.3 in NFT transferring industries. The referrals accounted for 30%+ of growth.
3rd Party Assessment
Trading Performance Comparison
BatchTransfer
Major Competitor
REFLECTION
Familiar patterns matter
Initially, I mistakenly utilized a vertical social share sheet, assuming it saves most space. However, Jakob’s Law indicates users prefer familiarity (horizontal sheet) over optimal patterns. Since then, I always study leading competitors before crafting. Familiar patterns allow users to focus on task instead of learning new models. It also helps to reduce risks in the absence of data.
Gamifying referrals
if given more time, I would gamify our referral program through milestone achievements. For instance, by setting targets for users to successfully refer certain number of friends, they can unlock better discounts/bonuses. Rewards make powerful motivators, harnessing people’s competitive nature with very low costs. It helps increase user engagement & our monetization.
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