Boost user conversion
OVERVIEW
At Navi Mutual Funds, we have a vision to reach 150cr monthly investments. Although we have 15 in-house funds right now, and increasing funds seems like a great idea to get more customers.
We also want to cater to great experiences and bring out new initiatives to bring in more customers. We aimed not to redo our app to give a boost as it also incurs cost but brings in delight factors to convert users.
my role
Research, product design, Dev-of
TEAM
2 product managers & 5 Engineers
TIMELINE
2 Weeks
PROBLEM
HIGHLIGHTS
RESEARCH
How do we go deeper to understand the problem?
To gain a comprehensive understanding, we engaged in customer conversations, analyzed the current app, and performed the following:
Understand funnel data
Observe session recordings
Talk to different customers
Identify current problem in app
RESEARCH
Funnel data
With our funnel data we reached to conclusion that
INSIGHTS FROM FUNNEL
Reinvest in the same funds
Funds in top sections received higher conversion rates with portfolio funds getting most conversion
Categories got more clicks
Data displayed how major categories were getting more clicks than view all sections
Funds in top sections get more conversion
Users tend to click more on top categories than click a scroll below
RESEARCH
Know from the users
Customers were divided into two segments:
NMF- Non-Invested Users: Users who had not invested in mutual funds and had not completed KYC on any platform.
EMF- Existing Invested Users: Users who had either invested with us or completed KYC on another platform.
INSIGHTS FROM SESSION RECORDINGS
Lack of action
Users hovered over fund cards but hesitated to click, indicating information overload or lack of clear action
Inefficient filters
Users interacted with filters but had multiple scrolls as they were unable to find the required filter
Rapid scrolling
Rapid scrolling patterns were observed, indicating difficulty in finding relevant investment options.
INSIGHTS FROM CUSTOMER CALLING
Trust in recommendations
90% NMF were likely to invest in funds recommended by their friends or family
Lack of awareness
Users were not aware of which fund have they invested in or which fund to invest in
Forgetfulness
Users often forget to reinvest, either due to a lack of habit or because they prefer to see profits first before committing more
RESEARCH
Current screen analysis
INSIGHTS FROM CURRENT FUND LISTING
Redundancy and inconsistent data
We had data points as social validation which was static as well inconsistent, returns for less than year fund were NA.
Overwhelming first fold with stale data
First fold covered a huge chunk of screen where as didnt add value to the fund page
No metric on CTA
We didn't have any data on CTA, and CTA and card both redirected to same fund page
RESEARCH
How are others doing it?
We analysed multiple competitive apps to see how data is being displayed and which features we liked in all to get an understanding of current market trends
RESEARCH
UX prioritization- we cant do it all
As a startup, we're all about moving fast—building quicker, breaking barriers even faster, and shipping like we should’ve done it yesterday! 🚀
Declutter the cards
The current cards were huge, with content that didn't cater much for decision-making, and we didn't want to add new features but eliminate info
Nifty India Manufacturing Index..
Index, Industrial
+8.80%
Returns (1Y)
Aggressive Hybrid Fund
Hybrid
+7.57%
Returns (1Y)
Large & Mid cap Fund
Multi cap
+7.42%
Returns (1Y)
Liquid Fund
Debt
+7.03%
Returns (1Y)
Nifty Bank Index Fund
Index, Industrial
+4.85%
Returns (1Y)
Navi BSE Sensex Index Fund
Index
+4.73%
Returns (1Y)
Nifty 50 Index Fund
Large cap
+4.36%
Returns (1Y)
Search using name or category
Navi Mutual Fund
11:11
HELP
Quick filters
Large cap
Mid cap
Small cap
Smaller cards to
have more cards in viewport
CTA with no data was removed and card
redirected to fund
Added categories to bring bifurcation
Funnel data indicated categories get more clicks
Removed data as fund size and social validation;
We have no current data for social validation
Introduced search
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Search using name or category
Navi Mutual Fund
11:11
HELP
Quick filters
Large cap
Mid cap
Small cap
FINAL HIGHLIGHTS
ELSS Nifty 50 Tax Saver...
Large cap
+65.27%
Returns (1Y)
Nifty India Manufacturing Index..
Index, Industrial
+8.80%
Returns (1Y)
Nifty Bank Index Fund
Index, Industrial
+4.85%
Returns (1Y)
Nifty 50 Index Fund
Large cap
+4.38%
Returns (1Y)
ELSS Nifty 50 Tax Saver Index..
Index
+4.36%
Returns (1Y)
Nifty Next 50 Index Fund
Index, Large cap
+3.82%
Returns (1Y)
Navi Nifty IT Index Fund
Index
-12.71%
Returns (6M)
Nif
Navi Mutual Fund
11:11
HELP
Quick filters
Large cap
Mid cap
Small cap
ELSS Nifty 50 Tax Saver...
Large cap
+65.27%
Returns (1Y)
Nifty 50 Index Fund
Large cap
+4.38%
Returns (1Y)
Nifty Next 50 Index Fund
Index, Large cap
+3.82%
Returns (1Y)
Nif
Navi Mutual Fund
11:11
HELP
Quick filters
Large cap
Mid cap
Small cap
Search functionality to make fund discovery seamless. Our research revealed that many "users rely on recommendations from friends and family when investing", so we aimed to provide an effortless way for them to locate specific funds without unnecessary friction.
Implemented predictive search to suggest results as users typed.
With filters intact if users searched in a specific category
Enhanced the filter experience
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Nifty India Manufacturing
Large cap
+65.27%
Returns (1Y)
Search using name or category
Navi Mutual Fund
11:11
HELP
Quick filters
Large cap
Mid cap
Small cap
While the existing filters were effective, we aimed to enhance them further for a more intuitive experience.
To simplify navigation, we introduced a quick filter feature at the top, enabling users to access their preferred options effortlessly.
Data analysis revealed the top three filters most frequently used by customers, and for EMF users, we prioritized displaying their top three most used filters
HABIT building
Monthly tracker to build habit
With our user calling we figured how users invest first time but forget about investing later, we wanted to bring change in this pattern but with limited effort, we launched a monthly investing feature
We had multiple iterations to come to down for lean approach
Why invest with Navi?
Fastest
redemption
3 pm
advantage
Zero
commission
Navi provides top-tier financial security to
ensure your money is safe!
Mutual fund regulator
Gold partner
No internet connection
Last updated 19 Aug, 4:45 PM
₹20,000 / ₹20,000
February investments
8 days left
Target met!
Invest ₹40,000
to meet monthly target
Invest now
Invest in your top performing funds
Nifty 50 Index Fund
Invested
₹4.05K
Current
₹5.19K (+7.9%)
View details
Setup SIP
Nifty 50 Index Fund
Invested
₹4.05K
Current
₹5.19K (+7.9%)
View details
Setup SIP
Your monthly investments till now
Jan
Feb
Mar
Apr
Jun
Jul
Sep
Oct
Nov
Dec
11:11
Monthly mutual fund investment
Set target
Set monthly target in mutual funds
Add amount and tenure to see your potential wealth
Monthly amount
₹ 1,000
Duration
Expected rate
10 years
12%
Based on past returns
11:11
Monthly mutual fund investment
₹58,08,000
Your potential wealth by 2034
Investment tracker
₹30,000 / ₹50,000
December investments
20 days left
Going good!
You are closer
Invest ₹20,000 to meet target
Invest now
₹45,000 / ₹50,000
December investments
8 days left
Almost there
You are closer
Invest ₹5,000 to meet target
Invest now
₹30,000 / ₹50,000
December investments
8 days left
Potential risk
You are closer
Invest ₹20,000 to meet target
Invest now
₹10,000 / ₹50,000
Target at risk !
Don't miss out on your target
Invest ₹40,000 to meet target
Invest now
December investments
8 days left
Customers can establish a monthly savings goal by visualizing their desired savings by a specific year, with an assumed return rate of 12%.
On the investment tab, a monthly tracking card provides personalized prompts tailored to the customer's investment cycle, encouraging them to stay on track.
After multiple iterations, we decided to launch a lean version to track how customers engage with the monthly tracking feature. This approach allows us to gather insights with minimal friction and refine the experience based on real user behavior.