Playing a part in the success story of a startup, fighting all the odds, is something every entrepreneur loves to do. Our story with this pioneer in discount brokerage is just that.
Zerodha is India's first discount brokerage offering the lowest brokerage rates in the industry. They have over 3.5 lakh trading customers. They do 5% of daily retail trading volumes across NSE, BSE, and MCX. (Which is massive, if you know about Indian financial market.)
When their CEO visited us at Domy, he had a checklist, and he was in search of the perfect partner! He asked for our services in product strategy design, user experience design, and interface design. Simply put, these were our goals to achieve:
- Create a unique, lightweight, and user-friendly website.
- Build credibility among the people who are already into traditional trading.
- Attract new traders / customers.
- Increase lead generation.
How did product strategy help build customer credibility?
In 2013, there were very few online discount brokers available in India. So the first thing we had to focus was building the trust and credibility for the company in the online world.
We created a platform to collect feedback from the existing customers of the company. The team reached out to the clients and requested them to share a genuine review about their broker. Surprisingly to us (and not to the people at Zerodha), we got hundreds of responses, and the feedback was extraordinary. Also, almost every customer permitted us to publish their reviews with their pictures.
There was nothing new to add a typical testimonial on the homepage; nothing aesthetically great too. However, we all knew that we wanted to highlight these feedback comments on the top of the website, somehow! Finally, the idea of face-pile came up.
However, we faced another challenge of picking the best reviews from the big pile. We solved it by making the face-pile real-time and dynamically built. So, you will not see the same guy and his feedback over and over again. Instead, the users will be greeted with fresh faces and testimonials, every time they visit the website.
Along with this, we promoted the fantastic turnover of the company as a dynamic ticker.
A steady growth in lead generation through well-defined UX
High bounce rate is one of the most significant problems with startup websites. So, controlling the bounce rate and increase the lead generation was our next priority.
For this, we did market surveys, discussed with actual traders, and brainstormed with industry leaders. It gave us an insight on the overwhelming questionnaires in the account opening forms. People were losing out on their attention span, and nobody wanted to fill forms online or offline. While the account opening form should be placed strategically for better visibility, it demanded minimal input fields and maximum autofill area to make the system do the heavy lifting for the user.
We redesigned the account opening form with just three fields to fill and placed it at the top of the page. Anybody could signup in less than 10 minutes, and Zerodha would contact them. This one thing changed the whole lead conversion statistics, and the results were outstanding.
The Brokerage Calculator
Domy designed a comprehensive brokerage calculator to advise users on brokerage, STT, tax, and much more they had to pay on all their trades across NSE, BSE, MCX, and MCX-SX.
Product strategy design, Prototyping, Wireframe design, User experience design, User interface design, User interaction design, Web application development, Website design, Content management system, and Data analytics.
Tools & Technology
UXPin, Sketch, Adobe Photoshop, InVision, HTML5, CSS5, jQuery, PHP Laravel, and MySQL.