Stash Onboarding
Rethinking the first interaction with Stash.
The problem
Stash's registration experience was inefficient.
Simply put: you can't make money if people aren't joining.
Long and tedious.
Creating a Stash account took 11 minutes on median.
Untrustworthy.
Qual research showed our trust metric was alarmingly low.
Overly verbose.
Nearly every page felt like you were reading a book, and not a fun one at that.
Fragmented.
With such a variety of screen types we created too much cognitive overload.
The data
Several key points were leading to significant dropoff.
We knew the areas we wanted to target.
55%
didn't create an account.
30%
didn't enter their SSN.
28%
didn't pay for a subscription.
1
Onboarding is a funnel.
Nearly all business metrics are tied to having users on the platform. If they're not joining from the onset, we're not making money.
2
We're a licensed fiduciary.
A contingency of being able to provide financial guidance is that we are required to ask sensitive information. You can guess where we see most of our dropoff.
3
Stash is a subscription business.
We have several revenue streams, but the largest and most consistent is subscription fees collected by users.
The challenge
We had a lot to overcome.
Big changes require big commitment.
Our visual language.
We were proposing a lot of big changes to our visual language that would need to be accounted for.
Development culture.
Stash's philosophy generally skewed toward small, lean tests. This was a big bet.
Existing roadmaps.
Every team had a planned roadmap for the quarter, we needed to slot this in somewhere.
The solution
An all-new onboarding experience.
Doesn't look too shabby either.
New visual design.
Creating an immediate perception of quality and credibility.
Lively interactions.
Delight users and positively reinforce behaviors to promote completion.
Reduced copy.
Only said what we needed to say to reduce cognitive overload in a long flow.
Security driven.
A greater emphasis placed on gaining user's trust that their information would be secure.
The results
It absolutely crushed it.
Arguably the most impactful test in Stash history.
+11%
account creates.
+9%
subscribers.
+7%
contribution.
1
We opened the funnel.
An 11.4% lift at the top of the funnel has massive implications. Nearly every metric downstream improved when we gained a greater volume of incoming users.
2
More people in the door.
Gaining subscribers opened the door for potential upgrades and upsells later on in user's financial journey. It creates an immediate new source of revenue for the business.
3
Impact to the bottom line.
At the end of the day the business needs to make money, and users need to get on the platform. We accomplished both.