📚 Context

Money Fellows is a financial technology (fintech) company based in Cairo, Egypt. It offers a platform that facilitates rotating savings and credit associations (ROSCAs), also known as "gameya" in Arabic. ROSCAs are traditional savings groups where members contribute fixed amounts of money regularly, and each member receives a lump sum payout in rotation.

Money Fellows aims to modernize and digitize the traditional ROSCA model, making it more convenient, transparent, and accessible to users through its online platform and mobile application. The platform allows users to create or join savings circles, contribute funds, and receive payouts according to a predetermined schedule.

👨🏻‍💻 Team & Role:

Growth Squad, Trio - Senior Product Designer

🎯 Objective:

Increase customer retention by 50% [NDA]

🚏 Strategy:

Tackle the most selected leave reasons through seamless experience to retain leavers in the circle or help them finding another circle within the same flow for the not-started money circles.

📄 Problem:

• 52% of users who join a circle, leave the circle before it starts, and around 67.3% of the leavers from the app leave in the first 3 minutes after joining, and 86.6% leave in the first 10 minutes.
  
  

• 30% of the users leaving, decide to join a different money circle.

Research:

📊 Data-Backed Opportunity:

We’ve seen that 37% of users who request to leave a circle can often be convinced to stay by operations agents, with 17% saved on our GMV either by clarifying information for the user or redirecting them to a more suitable slot. If we can add a retention journey inside the leave circle flow where the application redirects the user towards answers to their concerns or a suitable slot better suited to their needs, we would be able to decrease our monthly fallout rate.

📈 Funnel Analysis:

📞 User Interviews:

We - as product trio - have reached out to more than 20 users from different reasons, and we have found a pattern based on our user interviews:

Research findings:

• Accidental joins by users exploring the app.

• Users leave circles to modify details or preferences - more than 50%.

• Trust issues due to brand perception or negative feedback.

• Concerns about Shariah compliance.

• Users join only for promotional incentives.

• Users facing difficulties using the app as they don't understanding digitizing the circle concept

𝌣 Ideation:

1. A more clear CTA in the Join flow

• Hypothesis:
  Making the Call-to-Action (CTA) clear in the Join flow will enhance user engagement and encourage more users to complete the join process.

  
  

• Confidence:
  This hypothesis is based on user feedback and observed patterns in user behavior during the join flow.
  
  

2. Change the circle details

• Hypothesis:
  Implementing the "Change Circle Details" feature will empower users to modify circle details while leaving, leading to a reduction in the percentage of users leaving circles and reducing the time to rejoin.

  
  

• Confidence:
  Historical data from the Save team indicates that targeted retention efforts during the leave flow positively impact user decisions, reducing the overall leave rate. Also, we have played some calls back, and we have initiated some calls to validate this point.
  
  

3. Retention step in leave flow

• Hypothesis:
  Implementing a retention step that allows users to get information or help in context will effectively decrease the number of users leaving circles, leading to reduced revenue loss.

  
  

• Confidence:
  Historical data from the Save team indicates that targeted retention efforts during the leave flow positively impact user decisions, reducing the overall leave rate. the calls we have played show that some users don't know the basics about our products, and when they do they change their opinion about leaving.
  
  

4. In-context help

• Hypothesis:
  Implementing in-context help and Live Chat redirection in the leave flow will streamline user assistance, reduce leave process friction, and enhance user satisfaction.

  
  

• Confidence:
  Historical data from the users who asked to communicate with human support or can’t use the app, and the data shows that we have a lot technophobia in our users' personas
  
  

5. Cancel leave request

• Hypothesis:
  Implementing a feature that allows users to cancel leave requests will empower users to have more control over their participation decisions, leading to increased user satisfaction and potentially reducing the number of users leaving circles.

  
  

• Confidence:
  Based on the observed user behavior and feedback indicating a desire for greater control, enabling users to cancel leave requests will positively impact user satisfaction, overall retention rates, and OPS costs.
  
  
  

6. Understanding user behavior

• Hypothesis:
  Gathering valuable data on leavers will contribute to a deeper analysis, providing insights into their motivations and improving overall user satisfaction.

  
  

• Confidence:
  A comprehensive understanding of why users leave is essential for implementing effective retention strategies and enhancing user experience.

⚠️ Risk & Mitigation

• Risk: Users abuse the feature by joining and leaving the circle before the circle starts; this will confuse our projection for pay-in and payout from the financial perspective.
  Mitigation: Block the feature of changing the circle after X times for Y hours

• Risk: Users will ask about this feature with the call center.
  Mitigation: Add the FAQ in the help center and add a Live chat link in the flow
  
  
  

• Risk: To leave the circle immediately, users might choose any irrelevant reason that's different from the real reason.
  Mitigation: Update the reason name to relevant reasons from the contacted user’s research, feedback, or calls.
  
  

• Risk: Mentioning Al Azhar Fatwa in the leave flow.
  Mitigation: Don’t mention the feature or product that has Shariah concerns

🚴 User Flow:

📱 User Interface:

• I have updated the reasons naming to match what we knew in our user interviews, and what our customer happiness team, this is a main objective to identify the behavior and get better data accuracy.

• We have tackled the first iteration by changing the "Confirm Join" button, as we have seen significant numbers of users are joining accidentally

• We also sliced the epic into smaller stories to bring value faster to our users

  
  
  Changing Circle Details
  
  
  

  

Retention Screens

We relied here on providing information that our users might not know, we knew what to tell by meeting the retention agents from our sales/customer happiness teams to identify the patterns of users, and which information to tell users in each case that have proven to be worked with a lot of them.

This is a technique called "Framing"

I have used multiple techniques in this experience, and I am really glad to share when we meet ✨

I had meetings with designers for Design Critique Sessions, and with the developers for a Squad Playback.

▶️ Prototyping & Usability Testing:

We have tested this feature with 5 participants, the comment they had was to add a before and after in the review changes step

📏 Metrics & Events:

• Lead metric - 50% decrease in the leavers who selected Other in the Leave circle

• 15% conversion in rejoin funnel in Leave flow

• 25% decrease in the leavers' funnel before the circle starts

• 10% increase in canceled leave requests

Thank you!

— Enjoyed the Journey? Dive deeper into this design journey! If you're curious to explore the finer details or discuss the project further, feel free to >contact me<.