In a market as competitive and constantly evolving as crypto, making the right decisions about which platform to invest development resources in is essential.
This was the challenge one of our clients faced, a company offering a custodial crypto wallet service. With a solid user base, the company was looking to expand its market and, in particular, to improve its relationship with the users who generated the most revenue.
But a critical dilemma emerged: should they invest in improving their web platform, which had fallen behind their mobile app, or keep investing in the app, which targeted a different kind of user?
The challenge: understanding the key user
The company had identified a key user segment: those holding more than USD 10,000 in their wallets, or the equivalent in other cryptocurrencies. These users represented a significant share of revenue, and it was crucial to understand how they engaged with the platform and what specific needs they had.
To make informed decisions, the team decided to run a user research process, conducting in-depth interviews with these high-value users. The goal was to uncover not just how they interacted with the platform, but also their motivations, frustrations, and expectations.
The research process
The main focus of our UX Research was to understand users' overall experience with the company, their financial habits, and how they perceived the products offered to them. The interviews let us dig into key aspects such as:
- Users' relationship with finances and long-term investing.
- Which features they used most on the web and in the app.
- Their biggest frustrations and fears around security and access to their funds.
Key findings: a revelation about preferences
One of the most important discoveries was that, despite the growing adoption of the mobile app, most of these high-value users still preferred the web platform for making their investments. The app, while more modern and accessible, was mainly used to track investments, not to execute transactions.
The app was used to track investments, but not to execute transactions.
On top of that, these users expressed frustration with the lack of feature parity between the web and the app. The web platform, which was the main investment channel, had become outdated, and that caused dissatisfaction. This insight was key to rethinking the earlier decision to prioritize app development over updating the web.
The business impact: a shift in focus
These findings shaped the company's internal discussions. The research allowed the product teams to reassess their priorities and start allocating resources to the web platform, previously sidelined in favor of the mobile app.
In the long run, the decision paid off. Over time, the company saw an increase in the number of users depositing more than 10,000 dollars in their accounts, along with greater satisfaction with the platform. New investment options were also introduced on the web, further strengthening the relationship with high-value users.
The value of UX Research in strategic decisions
This case shows how UX Research can shape key strategic decisions. By putting the user at the center of the development process, companies not only improve their products but also better align their efforts with the real needs and behaviors of their user base.
What started as a choice between prioritizing the web or the app ended up revealing a clear path to a better experience, with a direct impact on revenue over the long term.