Strategic Planning with PMs
Crypto.com is a cryptocurrency exchange company based in Singapore with over 80 million users buy, sell, and trade cryptocurrencies, NFTs and more on Crypto.com. Missions is a loyalty feature with the goal of increasing users activity across the Crypto.com ecosystem. As a product designer under main app team, this is the story of how I worked with my peers to achieve 10x in ROI.
Since the MVP launched, we received positive feedbacks and good user engagements that matches our business goals. The next topic is how could we further develop this in the coming phases?
Crypto.com Missions MVP Promo Video
Before setting our direction for the next phase, we first tried to understand the landscape of the POC. Here are the key problems that we’ve discovered from the community and business side
*Constraint: Due to limited resources, we could only understand users from the CDC community, social channels as we were in the process of hiring UX researcher back then
With the problems identified and direction set, we came up with these directions to meet our objectives
While discussing with our business stakeholders about what they want to push, we also launched a survey asking what kind of missions users would like to be sent on and received 241.7k response in total
Overall ROI of Trade missions - Nov, Dec and Jan lookalike cohort analyses
Average daily payout - From USD 36,000/day (Nov) to USD 15,000/day (Mar)
Weekly retention - From 63% to 72%
Mission D.A.U. on average is 1.4x of App D.A.U - users who are not actively transacting on the App are engaged with Mission
📈 Increased Trading Activities - in correlation to the engagement with Trade Missions among existing trading users
ROI of Missions is Stronger in Bearish Market Conditions - as indicated by the improvements in Dec and Jan cohorts
Work under Constraints
Despite there were no researcher/access to data, it doesn’t mean we could just design by gut feeling. Instead, I reviewed and discussed with PM on what we could leverage, e.g. community manager, social media, internal feedbacks etc. to gather as much information as we could to frame the problem in order to design a solution that addresses the problem
As a main app designer, I was assigned to work with 3 teams (Missions/Finance/Card). Therefore, I learnt a lot about distributing my time across different project and task prioritisation. It really helps me to be ready to work of multiple projects with fixed deadlines.